Dex Loop also Decentralized Exchange Loop Market is an automatic market maker on Terra LUNA Blockchain and it's the First.
It allow users to Exchange (swap) token for another easily.
It's very easy to use and user friendly.
Less gas fee, fast transaction, easy swap.
Well I don't do mathematics 😂
But I believe it's necessary when you want to swap 😂.
To swap you will need the native stablecoin UST which is use as gas fee needed to swap.
Token can be selected from the swap page which the link is drop below.
But before u can swap u will have to connect your wallet don't forget that.
On the top of the dex you will have the token you want to sell while the one below is the token you want to buy.
There are other features there also which are
Spillage
Expected price
Price Impact
Minimum received
New Balance
Gas Fee
I will be explaining them in my next post so watch out don't forget to follow my page.
So let's continue with the swap.
After selecting you tokens then click on swap and wait for confirmation.
Three notifications might pop up depending on the transaction pregress.
If it's completed it will show successful, if it's not then the two others will pop up which are
- No sufficient gas to carry out this transaction
- The token selected might not be use to swap each other meaning you will have select a compatible pair for swap.
Lets now talk liquidity pool.
I will explain liquidity very simple.
Liquidity is when a user add value to a particular token using pairs of token i.e the token which u need to add value for and the other token which is compatible (registered) to use in adding value.
When adding liquidity the value of the 2 pair of the token should be equal.
In liquidity pool, any user who add liquidity to a token will be receiving some certain percentage amount of LP Token whenever a swap is made.
I will be stopping here and continue will STAKING POOL AND FARMING in my next post.
Stay tuned as I will be explaining Blockchain to you easily as simple as ABC
One love 💕