How to swap/exchange IUX using Quickswap?
- Additional: How to import IUX token into your Metamask Wallet
You can access QuickSwap via a desktop internet browser or your mobile device. Always make sure you use the following link: quickswap.exchange . You can exchange your coins easily for a fee from one of the liquidity pools.
STEP 1. Head to quickswap.exchange in your desktop or mobile browser.
STEP 2. Connect your wallet. You’ll need to use either a desktop browser extension wallet or a mobile wallet app. MetaMask and #TrustWallet are both suitable options. Your wallet should also support the Polygon Network (check here how to add Polygon to MetaMask)
❗STEP 3. Make sure you’re on the [Swap] tab to start exchanging tokens and make sure you have $MATIC coin for the gas fees!
STEP 4. Select the token you’d like to swap from and the token you’d like to receive. In this example, we’re swapping $USDC for $IUX (check down, after STEP 6, how to withdraw USDC from a CEX -> Centralised Exchange 👇).
STEP 5. Click [Swap].
STEP 6. Preview the transaction in the pop-up window and confirm the request in your wallet.
HOW TO WITHDRAW USDC FROM MY CEX?
Withdraw from #CEX that supports USDC Matic/Polygon Network.
Note: don’t forget to IMPORT TOKEN (see image) and add this address, confirm and you have the USDC in Metamask:
Copy the Polygon Network wallet address on the MetaMask by clicking on the address line as the picture below.
Fill the address you just copied into the withdraw section on your CEX (Binance, Kucoin, whatever CEX supports withdraw to Polygon Network) and the amount of USDC you want to withdraw (for example 1000 $USDC).
Note: select the “MATIC” network. Then press “Confirm” and to the on-screen details.
Wait for 1–3 minutes then you go back to the metamask wallet to check the balance in the wallet.
WHAT IS QUICKSWAP?
QuickSwap — a decentralized finance product, is a fork of the popular #Uniswap decentralized exchange (DEX), except it runs on the #Polygon network (formerly Matic Network). Running on a Layer 2 scaling solution like Polygon enables it to achieve low fees and complete trades in a matter of seconds (even if #Ethereum is congested). Polygon runs atop the Ethereum network.
UniSwap provides a fast and convenient way to trade ERC20 tokens because you can use existing browser-based wallets such as #MetaMask, without having to deposit your tokens to a centralized exchange before you can start trading. Despite skipping the time-consuming deposit step, it slows down significantly during times of congestion.
Layer 2 scaling solutions have been catching on as a sound way to reduce confirmation times and Ethereum gas fees to a mere fraction of what they’ve typically been. #QuickSwap, running on Polygon, has become more practical for swing trading and microtrades due to its low fees.
Users can bridge ERC-20 tokens from Ethereum to Polygon and trade any pair via QuickSwap, so long as there’s a liquidity pool for it. Anyone can start a new liquidity pool by providing a token pair to earn transaction fees from other users.
The look, feel, and experience of QuickSwap are almost identical to Uniswap. Users can trade their coins without signing up or completing any #KYC (Know Your Customer) processes. All you need is a wallet to connect to the platform and MATIC to pay your transaction fees. QuickSwap is also open-source and uses audited code from Uniswap to provide it with a level of trust and security.
WHAT IS POLYGON NETWORK?
Polygon (previously called #MATIC) is an infrastructure for creating Ethereum compatible networks. These blockchains can also interact with one another, creating a layer 2 ecosystem of interconnected blockchains. The Polygon Network is the project’s official sidechain that works with a Proof of Stake consensus mechanism.
The Polygon Network’s popularity comes from its speed as a scaling solution and cheap gas fees. Transaction fees are paid in MATIC tokens. As the network is compatible with the Ethereum Virtual Machine, developers can fork existing #DApps (Decentralized Applications) such as Uniswap onto the side chain.
How to import IUX token into your Metamask Wallet
Open the Metamask app on your mobile. Make sure you have the Polygon Network set.
1.Press on Import Tokens.
2. Copy the IUX Smart Contract address: 0x346404079b3792a6c548b072b9c4dddfb92948d5 to Token Address
3. Press IMPORT
You are NOW done with importing your IUX Tokens in Metamask.