User Guidance

1. Connect Wallet

The first step is to connect the app with a wallet so we can use the decentralized exchange (dex) products. In this case weโ€™ll go ahead with the Blocto wallet. It also supports Lilico wallet - a non-custodial wallet (metamask-like) on Flow.

At this stage it will require your email for sign in/register, a one time passcode will be sent to your email. If youโ€™re a frequent Blocto user, it might also automatically connect.

2. Swap

Let us take a look at the swap feature. Here the user can choose which tokens she wants to trade. The input token equals the token you currently own and want to trade for another token (output token).

2.1 Multihops/Router

The swap supports multihops/router, which means that the swap will make sure that you end up with the maximum amount possible for your given output token.

2.2 Support celer bridge token

We also support Celer bridged tokens (ceTOKEN). The Celer cBridge is a cross-chain token bridge with deep liquidity for users. Currently eight assets are supported which you can see on the screenshot below.

Learn more about Celer & FLOW here.

2.3 Search and Import any Token

What if the token you want to trade cannot be found in the drop-down list? As long as you know the token contract address, just paste it into the search bar and click โ€œSearch Moreโ€. Clicking the โ€œImportโ€ button to import it into the default token list and everything is set up.

In most cases clicking the "Import" button would automatically parse the address and import given token into the dropdown menu. In case it fails for whatever reason (e.g. parser failure, non-standard token contract implementation, etc.), it can still be manually imported by clicking "Import Custom Token" menu:

(* It's not compulsory, but if you want to get the project token included in the default dropdown menu, please refer to this.)

2.4 Swap Settings

The users can also adjust their swap settings, if they think this increases their chances of a successful transaction. This includes the following parameters:

  • Slippage limit: you may set a new slippage limit. Please note that increasing your slippage limit may result in an unexpectedly bad exchange rate. Your transaction may be frontruned.

  • Transaction deadline: you may extend the transaction beyond the standard 30 minutes. However, please note that this may lead to your trade executing at a subpar exchange rate as the market price may change during that time.

  • Enable mulithops: this option is by default turned on. This is for the routing algorithm to calculate and split a trade into multiple paths to achieve the best output.

3. Liquidity Pools

Besides the swap, the user can decide to become a liquidity provider. This means that the user will add two different tokens into a liquidity pool and form a pair or add to an existing pair.

The liquidity providers will receive a part of the transaction fees as a reward but take note that being a liquidity provider comes with the risk of impairment loss.

3.1 Create a New Pair

As mentioned before, any user can create new trading pairs that are not existed yet, for example:

For liquidity pairs that already exist, the page will show that the pair already exists.

3.2 Add Liquidity

Once the pair is created, any user can add liquidity into the pool. The first liquidity provider is the one who sets the initial price of the pool. They are incentivized to deposit an equal value of both tokens into the pool.

3.2.1 โšก๏ธ Zap: Add liquidity with a single asset

You can also add liquidity to any trading pair using a single asset: some of the given asset_A will be automatically swapped to asset_B and then adding liquidity for the pair asset_A <> asset_B, just in 1 click.

Zap could be very convenient as you don't need to calculate and balance double-sided assets before adding liquidity. But since Zap adds liquidity by means of Swap (trading) first, if your size is big (for example: Price Impact > 3%, ymmv), you'd better still add liquidity in the normal way (clicking the All assets tab).

4. Tutorial by Flowverse

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