Cherryswap tutorial (beta version)
CherrySwap is the automatic market-making protocol based on OKExchain. It adopts mechanism of Automatic Market Maker (AMM) and aims to achieve self-driven liquidity creation with diversified functions such as liquidity mining, IFO, NFT and DAO, so as to provide participants with the maximum value.
CherrySwap, the automatic market-making protocol based on OKExChain, will launch the beta together with OKExChain on March 11, 2021, and simultaneously launch the functions of Exchange, Liquidity and Farms. You can receive airdrop benefits of 2,000 OKT and 300,000 CHE, and each person can receive up to 0.2 OKT + 150 CHE.
Instructions for CherrySwap webpage
Currently, the official-net contract of CherrySwap still not launched, only opened the test-net contract, this article will give you a basic demonstration through the function operation process of test-net, in order to facilitate you to quickly get familiar with the operation of mining process.
CherrySwap official website：www.cherryswap.net
Obtaining test coin
Get it from the official faucet of OKExChain:https://gitter.im/okexchain-testnet/faucet
Leave your wallet address(ERC20) on this tweet https://twitter.com/CherryswapNet/status/1370288697212502019
Please don’t get it repeatedly
Take MetaMask wallet as the example
1. Configure the test network
Please confirm that the plug-in of MetaMask wallet has been installed in the browser. Download address:https://metamask.io
Open MetaMask,then you can see the default setting of wallet is Ethereum Mainnet. Click the Ethereum Mainnet, and then click Custom RPC in the drop-down menu.
Fill in the following data in the form:
MetaMask configuration parameters of OKExChain Testnet
Network name：OKExChain Testnet
New RPC URL：http://okexchaintest.okexcn.com:26659/
Block Explorer URL：http://www.oklink.com/okexchain-test
After the connection of wallet configuration and saved, switch to this network.
*If you encounter this problem in the settings ↓ ↓ ↓ ↓ ↓Try to fill the NEW RPC URL:https://exchaintest.okexcn.com
2. Connect your wallet
On the CherrySwap website, click 【Connect】 at the top right corner of the website to connect your wallet.
How to Trade on the CherrySwap Exchange
- Open the transaction page and find the coin pair you want to trade. Take OKT / CHE as an example.Enter the amount for transaction and click 【Swap】 to exchange.
- Confirm the information is correct, and click【Confirm Swap】.
3. The window of MetaMask will pop up here to confirm the GAS fee for transaction, and click 【Confirm】 to pay GAS to complete the transaction.
1. CherrySwap uses mining mode of LP pledge certificate , so we need to add the supported market making token pair to the fund pool first, and then click【Liquidity】to enter liquidity.
2. Click【Add Liquidity】 to add.
- Select OKT / CHE (case), set the quantity, and then click 【Approve CHE】 to authorize the first operation.
4. Click【Confirm】 in the pop-up window of MetaMask to complete the first authorization.
5. Click【Supply】 again to send the token.
6. After confirming the information, click【Confirm Supply】, and then click【Confirm】again in the pop-up window of MetaMask . After that, you can see your market making record in the fund pool.
How to Yield Farm on CherrySwap
1. Click【Farm】 on the left side of the webpage to enter the farm page. CherrySwap farm provides multiple mining pools to participate in the test. Here, taking CHE-CHERRY LP pool as an example, the first step to obtain CHE is to click【Stake LP】to pledge.
2. After confirming the quantity to be pledged, click【Confirm】 to confirm.
3.Here, the MetaMask window will also pop up. Click 【Confirm】 again to confirm. After waiting patiently for the block to be completed, then the pledge will be completed.
- Click【Details】to view the pledge details.
5. Click【Harvest】to get the benefits once obtained CHE.
6.The quantity of pledged LP can be increased or decreased through [+] [-].
7. When the pledge is not required, click [-] to reduce the quantity to 0 to complete the token redemption operation.
The above is the function content of the joint test of CherrySwap&OKExChain, thank you for your attention!