DataDex
  • What is DataDex?
  • Core Features
  • How to Use DataDex
  • Tips for Maximizing Your DataDex Experience
  • Common Terms
  • Detailed Guide to Providing Liquidity on DataDex
  • Step-by-Step Guide to Providing Liquidity
    • Step 1 - Prepare Your Wallet
    • Step 2 - Access DataDex
    • Step 3 - Navigate to the Pool
    • Step 4 - Choose the Token Pair
    • Step 5 - Define the Price Range
    • Step 6 - Select the Fee Tier
    • Step 7 - Deposit Tokens
    • Step 8 - Position Management
  • Earnings from Liquidity Provision
  • What Happens if Price Moves Outside Your Range?
  • Withdrawing Liquidity
  • Risks of Providing Liquidity
  • Best Practices
  • Conclusion
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How to Use DataDex

How to use DataDex for trading and providing liquidity

PreviousCore FeaturesNextTips for Maximizing Your DataDex Experience

Last updated 5 months ago

  1. Setting Up Your Wallet

    • Use a compatible wallet like MetaMask, or WalletConnect.

    • Fund your wallet with VANA (for gas fees) and the token(s) you want to trade or provide liquidity for.

  2. Accessing DataDex

    • VisitDataDesk (datadex.me)

  3. Swapping Tokens

    1. Connect your wallet.

    2. Select the token you want to swap and the token you want to receive.

    3. Enter the amount of tokens.

    4. Review the estimated exchange rate and slippage tolerance.

    5. Approve the token for trading (if it's your first time).

    6. Confirm the swap and pay the gas fee.

  4. Adding Liquidity

    • Navigate to the Pool tab.

    • Select the token pair you wish to provide liquidity for.

    • Choose a price range for your liquidity position.

    • Wider ranges require more capital but have less risk.

    • Narrow ranges require less capital but may generate higher returns.

    • Deposit the required tokens.

    • Approve the transaction and confirm it on your wallet.

  5. Removing Liquidity

    1. Go to the Pool tab and find your position.

    2. Click Manage and select Remove Liquidity.

    3. Choose the percentage of your liquidity to remove.

    4. Confirm the transaction in your wallet.