A Guide Through Comdex’s cSwap Decentralized Exchange
Before now, you must hear about cSwap being a product of the Comdex network.
It is one of the many products with which Comdex pushes its goals further through the roadmap for the year, and more, towards the main vision of establishing a bridge between the decentralized and traditional finance world.
What is cSwap?
cSwap was laid down as a forerunner project of ShipFi to carry out the conversion of goods from the physical form to the digital. cSwap is also the trading of assets within the Cosmos ecosystem
As a decentralized exchange, fully supported by InterBlockchain protocol technology, cSwap DEX is being established on the Comdex blockchain, with its interoperable smart contracts fully onboard.
With its automatic market-making (AMM) technology and liquidity pools, cSwap will enable trades to be carried out between its home network, Comdex, and other partner blockchains.
Benefits of cSwap
Conversion of assets.
Helps with strategic trading.
Secured means of investment.
The cSwap platform has not been built to full completion; was launched as a cAssets tab in the Comdex Web App, for synthetic assets namely cGOLD, cSILVER, and cOIL.
As of the 24th of August, 2022, Comdex launched the cSwap testnet, for the reviews and debugging of cSwap before its mainnet (which is now expected in a few weeks or months, at most) as an app.
Join me as I take you on a thorough guide through the cSwap Testnet.
Before Using cSwap
1. First, you need to have a KeplrWallet account before you can participate in the testnet.
a. If you don’t, go to https://wallet.keplr.app/, and install it as your Chrome extension.
b. Then, click open the extension and set it up. Remember to keep your key phrase safe & guarded.
2. Now, you have to get your faucet tokens — $CMDX, $ATOM, $OSMO
a. Visit Comdex’s Discord server: https://bit.ly/ComdexOfficialDiscord.
b. Go to the #request-faucet channel and input this: “$testnet <your wallet address>”.
3. Swapping on cSwap
a. Visit https://testnet.cswap.one/, the cSwap testnet.
b. Click on CONNECT to connect your KeplrWallet.
c. Click on TRADE.
d. Select to swap the tokens or assets of your choice.
d. Input the amount, and click SWAP.
You can also visit the GOVERN tab on the cSwap Testnet: https://testnet.cswap.one/ to view project proposals and participate in governance.
A limit order is a transaction carried out to allow you to buy or sell crypto at a price that you can afford. Usually lasting a month, a limited order can be cancelled by you, when the goal of the order has been carried out.
For instance, you can only afford to pay a total of $50 for $CMDX in the cSwap, but it sells for $68. Now, you can limit your order to $50, and this will be cancelled once you are done with the transaction.
If you set it to $60, the limit order will not cancel till the remaining balance is used or till the period of time elapses. In cSwap Testnet, the limit orders have a tolerance range. When this is filled, other orders will not be executed.
To place your limit order:
Go to the TRADE tab.
Select the LIMIT ORDER toggle.
Go to settings to change the expiry time for the transaction.
To cancel your limit order:
Go back to the TRADE tab.
Select the LIMIT ORDER toggle.
Go to ACTIVE ORDERS.
Navigate to STATUS, pick the trade you want to cancel, and submit it to Keplr.
Liquidity & Farming
To provide liquidity in cSwap Testnet, you would need to add the value of the two cryptocurrencies you want as your liquidity pool tokens and equate the value to that of the amount of US dollars that you need to make the transaction successful.
Connect your Keplr-cSwap account and go to the FARM.
Choose the liquidity pool you want.
In the DEPOSIT tab, view:
The details about your pool are in POOL DETAILS.
Your liquidity details are in the tab for YOUR DETAILS or MY LIQUIDITY.
Input the amount you want to stake and click MAX to automatically let the other token’s amount equate to the amount in US dollars.
ADD LIQUIDITY and approve.
Go back to the FARM.
Choose the percentage of liquidity you want to farm and confirm.
Inspect your farm in the tabs for:
FARMED LP AMOUNT,
And the MANAGE tab.
About Comdex Network
The Comdex chain now serves as a DeFi infrastructure layer for the Cosmos ecosystem. Essentially this means that Comdex provides a variety of interoperable plug & play modules for projects to use to create their own DeFi platforms providing utility to the Cosmos community as well as DeFi users worldwide
Interested? Join the community now: