How To: connect a wallet
This section will cover how to connect a wallet to Shrimpy for the purpose of trading on a Decentralized Exchange.
Which wallets are supported by Shrimpy?
Shrimpy supports many of the popular wallets that are also supported by WalletConnect. A complete list of wallets supported by Shrimpy can be found here.
What is WalletConnect?
"WalletConnect is an open-source protocol for connecting decentralized applications to mobile wallets with QR code scanning or deep linking. A user can interact securely with any Dapp from their mobile phone, making WalletConnect wallets a safer choice compared to desktop or browser extension wallets.
WalletConnect connects web applications to supported mobile wallets WalletConnect session is started by a scanning a QR code (desktop) or by clicking an application deep link (mobile)."
-Excerpts from WalletConnect.org
To connect a wallet
- First, you must connect your wallet to Shrimpy by following the instructions found here.
- Once you've connected your wallet, you can now select your wallet via the account dropdown menu.
- From your wallet Dashboard, you can access the Trading page.
- Select "Connect Wallet" and scan the provided QR code with your WalletConnect supported wallet.
- You will be asked to confirm your connection to Shrimpy within your wallet.
And that's all there is to it!
You are now able to trade using a Decentralized Exchange Aggregator (0x) through Shrimpy using the funds held in your connected wallet.
How To: disconnect a wallet
To disconnect, or not to disconnect...
...is not the question at all. You absolutely should disconnect your wallet when you have completed your trading session. Outside of just being a generally good habit, doing so will prevent someone else from accessing the funds held in your wallet through Shrimpy in the event they physically (not digitally) access your account. If your wallet is disconnected, you must have your mobile device physically present in order to reconnect it before you can utilize our DEX Trading feature. Essentially, it's the equivalent of locking your front door when you leave your home. In doing so, you can operate with a reasonable expectation that it will be exactly how you left it upon your return.
How to disconnect your wallet
Because of how important this particular security precaution is, we wanted it to be as easy as reasonably possible to ensure our customers are disconnecting their wallets every time they log out. At the top left corner of the trading page is a "Disconnect Wallet" button. Simply click on this button to disconnect your wallet and end the trading session.
And that's it!
It should be noted that this is not the same as deleting your wallet (Settings -> Accounts). Disconnecting your wallet will not remove it from Shrimpy, nor will you lose any history - however, deleting your wallet via the Settings page will remove all data associated with the deleted wallet and this data is not recoverable.
Why is permission required when trading on a DEX?
As mentioned here, Shrimpy is using 0x as a Decentralized Exchange Aggregator.
When you grant permissions on the Trading page within Shrimpy, you are granting 0x permission to use the funds held in your wallet for the specified asset. If you do not grant 0x permission, you will be unable to utilize 0x trading services through Shrimpy.
It should be noted that you are not giving Shrimpy permission to take any action on your wallet or the funds held within it. All permissions requested on the Trading page are applied to 0x and Shrimpy is not able to remove the funds held within your wallet under any circumstances.
Does every asset require permissions?
Ethereum, as the native asset that 0x was issued on, does not require permission. All other assets (at this time), do require signing permission.
Do I have to give permission for every trade?
Each combination of Wallet+Asset+Aggregator (excepting Ethereum) will require permission to be granted before you will be able to successfully trade. This means if you have a single wallet, each asset will require permissions exactly once. You do not need to give permissions for each individual trade if you are trading the same asset multiple times.
If you have multiple wallets, each asset within each separate wallet will require permissions - even if there are duplicate assets in both wallets.
Finally, as we continue to develop our DEX trading feature and eventually support additional DEX Aggregators, each DEX Aggregator will require their own permissions, even when using the same wallet across multiple DEX Aggregators.
Have questions, comments or concerns? Feel free to reach out to us via the blue "Support" button found in the bottom left corner of your Dashboard, or send an email to Support@Shrimpy.io.