This article was first published on Stories by Dentacoin on Medium
Say hello to Uniswap, as the first Dentacoin liquidity pool goes up and running! Following our community’s recommendation, we felt it necessary to take a dip into the DeFi space, with Uniswap being the first of many initiatives in that direction.
Uniswap provides a fully decentralized automated liquidity service for the Ethereum network. The way it works is by locking a ratio between two currencies in a liquidity pool. Traders can help maintain the liquidity on either side by depositing their tokens and earn a part of the trading fees.
When traders use the dex service and the amount on one side of the pool decreases, the other rises in price accordingly to maintain the ratio. This creates an opportunity for other traders to deposit more of the lacking currency at a premium price and take advantage of arbitrage opportunities.
Dentacoin on Uniswap
At present, the Dentacoin pool on Uniswap features an ETH-DCN trading pair. To access the trading we have compiled a quick guide for you:
Exchange Dentacoin-Ethereum on Uniswap
Step 1: Navigate to Uniswap and Select Token
Hop on to the Uniswap dex website here:
You will see the display on the right. Tap Select a token to display the Dentacoin trading pair.
Step 2: Paste Address
Currently, you won’t be able to find Dentacoin by name as it is not yet featured in a list. This is only temporary, as we work on implementing the liquidity pool in the official lists. To display Dentacoin, please paste the contract address in the text box:
Step 3: Add Token
Once you have pasted the address, you will see the Dentacoin logo and symbol displayed next to the “Found by address” indicator. Tap the “Add” button to continue and close the pop-up to finalise the process....
To keep reading, please go to the original article at:
Stories by Dentacoin on Medium