How to use Uniswap

Uniswap is a decentralized application that allows users to swap tokens and add liquidity into the pools that make swaps possible. Swaps on Uniswap are done between “pairs”: two tokens that you can swap between, such as the USDC/ETH pair. Users can swap between these pairs (USDC for ETH, or ETH for USDC). Each pair is enabled by a “pool” which contains a quantity of both tokens (USDC tokens and ETH tokens in our example). Users can choose to contribute to the pool if they want to enjoy fees that swapping users must pay.

This guide explains the basics of how to use Uniswap for the purpose of eXRD tokens, however, there are many other token uses. We highly recommend you become familiar with how Uniswap works before using it with meaningful amounts of your money; the Uniswap FAQ is a good place to start.

When using Uniswap, it is important to ensure you are interacting with the correct tokens. As Uniswap is decentralised, they do not verify the authenticity of tokens, so you may find fake Radix tokens. All pairs that include the real eXRD token are listed on the Uniswap token info page here:

Please note, only the eXRD/USDC pair is eligible for the Radix Community Liquidity Incentives. This guide provides examples for the eXRD/USDC pair, but the principle is the same for any pair.

For advanced users: if you would like to see the eXRD against a pair that does not yet exist, you can create a new pair for the eXRD with any other token in the Ethereum ecosystem by following these steps:

How to Find the eXRD/USDC Pair

The first step is to make sure you interact with the real eXRD/USDC token pair. This link points directly to the eXRD/USDC info page:

After clicking the link, you will then see a page that looks like this:

On the eXRD/USDC Uniswap Info page, you will be able to find statistics about the eXRD/USDC pair. 

How to Swap eXRD with USDC on Uniswap

From the eXRD/USDC info page click “Trade” in the top right-hand corner. This will take you to the trading page and the tokens will automatically be selected for you. 

The interface will initially give you the opportunity to swap any eXRD you have for USDC. By clicking the arrow between the two text boxes you can switch the direction of the swap in order to change USDC to eXRD.

Enter the amount you would like to trade and then click “Connect Wallet”. You will then be asked to select which wallet you want to use.

Follow the instructions from your wallet provider to connect your wallet that contains the eXRD or USDC that you want to swap. Once you have connected your wallet, click “Swap” and follow the steps provided by your connected wallet. 

Once the transaction is confirmed on the blockchain the output tokens will appear in your selected wallet.

As always, it is a good idea to check current Ethereum gas prices to ensure you specify enough gas for your transaction to be processed quickly.

Adding Liquidity To the eXRD/USDC Uniswap Pool

Adding Liquidity to a pool is the process of contributing equal value amounts of both of the tokens in a pair, which become part of that pair’s pool for swaps. You should understand the risks associated with contributing liquidity to a Uniswap pool before contributing.

To add Liquidity to the USDC/eXRD pair’s pool, start by clicking “+ Add Liquidity” in the top right of the info screen: 

This will take you to the Liquidity Pooling interface. The tokens from the info page will be the same ones selected on this page. 

On the Liquidity Pool interface, you can add liquidity to the pool and see the % of the pool you have. 

To add to the pool, you first need to connect your wallet following the same steps shown above for swaps, if you haven’t already done so. 

Then, you need to enter the amount of eXRD or USDC you want to put into the liquidity pool. To add liquidity to the pool, you must add both eXRD and USDC at a ratio equal to the current ratio in the pool. If you do not have the required amount of either token, you will either need to use Uniswap or an exchange to get the tokens needed. 

After entering the amount of eXRD and USDC that you want to add to the pool, click “Add Liquidity”, and follow your wallet’s normal process for submitting the transaction. Once the transaction has been confirmed, you will receive a quantity of token called “UNI-V2-LP” that represents your liquidity in the pool. You can think of these “LP tokens” as redemption tickets that you will turn in to pull liquidity tokens out of the pool when you wish to do so.

If you have added liquidity in the Uniswap eXRD/USDC pool, you may be interested in the Radix Community Incentives Program, where you can stake your eXRD/USDC pool LP tokens to earn bonus eXRD tokens.

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