On today’s article, let’s have a look at AndromedaSwap (990 Twitter followers). The decentralized exchange aim to offer a safe & secure way to exchange assets on Aleph Zero blockchain.
Currently on testnet, we can dive into it using a brand new Polkadot.js wallet to make our swaps & add liquidity to the existing pools. Ready? Goo 👇
What is AndromedaSwap?
$ANS Tokenomics
How to qualify?
Conclusion
1. What is AndromedaSwap?
AndromedaSwap is a DEX built on the Aleph Zero Blockchain. With a robust infrastructure, the website offers a means for liquidity providers to earn by providing liquidity to their most preferred token pairs, while creating an avenue for swaps (trading).
The project is still at an early stage and not yet officially linked to Aleph Zero. However, the testnet can be performed freely until December 25th and without any risk using a new wallet. Before checking the actions we need to perform, let’s have a look at $ANS.
2. The $ANS Tokenomics
On the official docs, we can see a total supply of 1,000,000,000 $ANS. The team plans to allocate 5% (50,000,000 $ANS) as an airdrop to the community released 2 months after the Mainnet launch.
To secure it, users have to interact with the website and engage with the project on social media. Let’s see how it works ⬇️
3. How to qualify?
Testing the app is 100% free, we will need the Polkadot wallet to get faucet test tokens and connect to the platform.
🚨 NOTE: If you already have a private Polkadot wallet, we recommend you to create a NEW one for testing purposes. Security first.
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Download the Polkadot wallet extension.
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Create new account (save the seed words) & copy your wallet address.
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Paste your address and claim your $TZERO tokens => faucet.test.azero
- Move to faucetzero.netlify.app & connect Polkadot wallet to get $ANS tokens.
Note: $ZSTAKE not available so far through faucet. However, you’ll be able to get some on the platform by swapping your $AZERO or $ANS to $ZSTAKE.
Now that we have our tokens, we can do some swaps & add liquidity ⬇️:
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Connect your wallet to andromedaswap.org/swap
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Make multiple token swaps AZERO/ANS/ZSTAKE & change the slippage.
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Refresh the page after confirming the swap to execute another transaction.
- Go to the '' Pool '' tab => Click on “Manage” (ANS/AZERO for the example)
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Add & Remove liquidity from the pool (ANS/AZERO).
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Refresh the page after adding or removing liquidity & repeat.
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Don’t forget to also add liquidity to the pool ZSTAKE/AZERO.
We just tested all the current features of Andromeda. However, we still need to interact with a Tweet and leave a quality feedback:
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Leave your feedback on Discord in the
#airdrops-and-giveawayschannel. -
Like & Retweet: twitter.com/SwapAndromeda/status/1601474545294094336
4. Conclusion
Congratulations, we successfully tried a DEX on Aleph Zero blockchain.
Currently, the project is at an early stage & still not part of the Aleph Zero official team:
As the testnet is completely free, we recommend you to try it with a NEW wallet.
You can find all the official docs on their website & the information about the team in the #ressources channel on Andromeda’s Discord.
On the roadmap, the launch of the $ANS token is scheduled for Q1 2023 and the airdrop distribution is planned for Q2 2023.
We have until December 25th to try the features, provide a feedback and interact with the tweet to hopefully, secure a slice of the 5% $ANS tokens dedicated to airdrop.
Hope this tutorial was easy and clear to follow. If you have a question, join our Discord. We hunt and provide assistance daily to our beloved Pirates 🪂:
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