Guide for using Komodo Atomic DEX as a Liquidity provider for Proof-of-Work Digital Assets
Melanin Capital is a liquidity solution within the Melanin Ecosystem that facilitates users to bridge on-chain assets like WHIVE to swappable assets on the Komodo Atomic DEX. This guide will detail the steps to utilize Melanin Capital for bridging assets and ensuring liquidity on decentralized exchanges like the Komodo Atomic DEX.
Install Komodo Atomic DEX:
To begin trading assets bridged via Melanin Capital, first, you must install the Komodo Atomic DEX. This decentralized exchange and wallet support various blockchain assets. Download and install it from the official Komodo website.
Create or Import a Wallet:
Upon installation of the Komodo Atomic DEX, opt to either generate a new wallet or import an existing one using your seed phrase. Ensure that you back up your seed phrase securely.
Bridge Your Assets:
To bridge your WHIVE to assets swappable on Komodo Atomic DEX, utilize a service akin to RenBridge or any other compatible bridge service. Follow the specific instructions provided by your chosen bridge service to transition your on-chain assets into tokens that the Komodo Atomic DEX can recognize.
Add Bridged Assets to Komodo Atomic DEX:
Post-bridging, integrate the newly acquired tokens into your Komodo Atomic DEX wallet. This might require adding them as custom assets, depending on the bridging method and tokens.
Choose the WHIVE/USDT Trading Pair:
Connect to the Komodo Atomic DEX and click on “Select a token” or the equivalent option. Locate the token symbolizing your bridged asset (likely WHIVE) and then pair it with USDT.
Set Your Trading Parameters:
Key in the quantity of bridged WHIVE you aim to purchase or liquidate. Komodo Atomic DEX will autonomously evaluate the corresponding USDT amount grounded on the prevailing market rate. For specific pricing, navigate to the settings and adjust as necessary.
Review and Confirm the Trade:
Once content with the trading specifications, press “Swap” or the analogous option. Authenticate the transaction by checking the details, including any associated fees, and then confirm.
Track Transaction Status:
Observe your transaction’s progress directly within the Komodo Atomic DEX app or via any supported blockchain explorer for the involved assets. When the transaction is validated, your adjusted token balance will display in your Komodo Atomic DEX wallet.
Congratulations!
You’ve adeptly traded assets bridged through Melanin Capital on the Komodo Atomic DEX, specifically focusing on the WHIVE/USDT trading pair.
