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How To: Trade on a DEX

ShrimpyChris
  • Updated

This help article will cover how to place a trade on a Decentralized Exchange through Shrimpy Pro.

If you haven't linked an external wallet to Shrimpy Pro

Then that is your first step, as we are unable to trade your funds until you have linked your wallet to Shrimpy Pro. You can read more about how to connect an external wallet to Shrimpy Pro here.

Once you have a wallet linked to Shrimpy Pro

At this time you can select your wallet using the account dropdown selector in the top right corner of your Dashboard. Note: if you have only connected a single external wallet, it will be shown on the Dashboard by default and you are able to go straight to the Trading page without first selecting your wallet.

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Now you can either navigate to the Trading page or select an asset from your Dashboard.

In order to access the funds held within your wallet, you must first Connect your wallet. You can read more about how to connect your wallet to Shrimpy Pro here. Once your wallet has been connected, you are now free to begin trading.

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Note: the first time you trade an asset you will have to give permission for 0x to access the funds in your wallet. You can read more about required permissions here.

The Trading Panel

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This panel is where you'll be inputting your trade information. It contains the following fields:

  • From - The asset you intend to sell.

  • Switch - Transposes "From" and "To" fields.

  • To - The asset you intend to purchase.

  • Available - The amount of the selected assets held within your connected wallet.

To place a trade

Simply select which assets you wish to sell and how much, which asset you wish to purchase, and select preview to view the transaction details.

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On the preview page, you will see a summary of the trade details. It contains the following fields

  • Max Slippage - The maximum slippage you’ll see for on the proposed swap.

  • Gas Price - The gas level of the transaction (slow, normal, fast)

  • Minimum Received - The minimum amount of the “To” asset that will be received after the trade.

  • Estimated transaction cost - The estimated gas cost of the proposed trade. This amount is burned even if the transaction fails and your proposed trade is not completed.

    • Estimated transaction costs are refreshed every 15 seconds.

  • Shrimpy Fee - The fee Shrimpy Pro is taking for the transaction.

If you are satisfied with the trade, use the "Swap" button.

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Now, you must verify the transaction within your wallet.

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Once you've confirmed the transaction on your wallet, the trade will be signed by your wallet and sent to the blockchain. Once the trade is completed, the asset that was purchased will automatically be sent directly back to your wallet. You do not need to take any special action to receive the funds in your wallet. As soon as they are received by your wallet, the funds will be viewable on Shrimpy Pro. Once your trading session is complete, be sure to disconnect your wallet before signing out of Shrimpy Pro.

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.

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