The PHNX token is now live on Uniswap. Trade, or even earn with these simple steps!

The PHNX token is now live on Uniswap. Trade, or even earn with these simple steps!


 

In order to do this, you need to go through a few steps to make a trade or add liquidity to the Uniswap pool.

To make a trade on Uniswap:

  1. Go to Uniswap.Exchange (or this direct link to the trading pair here).3703dfc8621aea1201c9c814e5c8635e9036e5007d7b31204f94533b0ad4ec13.png
  2. Download the browser extension, Metamask, as you will need to use this to interact with Uniswap.
  3. In the top right corner of the Uniswap website, there is a box labeled, “Connect to a wallet”. Click on this and connect to one of the providers that is compatible with Uniswap (see image below).2c0f7cfecdc71ca9c480d1f1903cac945e53dd9220595804931b6b8cfc2f629d.png

4. Since there is already a liquidity pool made for PHNX, the process to join the liquidity pool becomes quite simple!!

a. If you do not have any ETH currently, you can purchase it through the Numio Vault (being launched in June!), or you can use any platform that enables you to buy with fiat like Bittrex.

b. Enter the amount of ETH you would like to purchase with.4ef224fb33697ece8d0b630bcc1c0b217bdda43a3689c65b9afa28cee38f37ee.png

5. Next, you will need to manually enter in the PHNX token address since it’s currently not listed on Uniswap just yet. The PHNX token smart contract address is: 0x38a2fdc11f526ddd5a607c1f251c065f40fbf2f7

a. In the future, once we have more liquidity and volume, we’ll be able to select it from the dropdown menu- making it much easier :).

6. Uniswap will automatically calculate the amount of PHNX you will be able to purchase according to how much ETH, DAI, or other assets that you hold.d16304ddb826e3a748b1ceb7ba44f2e5c9da1ed41a716004f0eda7301ce14ea2.png

7. If this is your first time making a trade with PHNX (only if you are selling PHNX), you will likely have to “Approve” the token. On Metamask it will appear as this image below. This will require a small network fee to Ethereum, and it will say “Approve PHNX”.

a. Confirm the transaction through Metamask (this is just a one-time transaction for PHNX).9df99edd45dbfa8ef2c19b1180c47dd7119b35fa28981645422260ca6937dbaa.png

8. Once this is finished, go to the Uniswap interface, and click “Swap”.598bdb1146976ba93a5c55393a96f1557a6d756047f51b5623a0ca7af753e7a5.png

9. Confirm the swap through Metamask, and then you’re good to go! And you will now be the owner of PHNX tokens. These tokens can then be used within the ecosystem through dApps, apps, the DAO, and other aspects of what is being developed.49bc14ca4d2ee41a6551f267c66ecea3b1f3bc737c070c38dd2f24f6099bbacc.png

 

Add Liquidity on Uniswap

One of the cool things you can do using Uniswap is that you can become the “Market Maker”. This is a common term in the “crypto-sphere”, and it allows you to monetize off of every transaction that goes through the trading pairs.

On Uniswap, you will be able to make 0.3% off of every single trade or transaction through the PHNX/ETH pair, which will go directly to the liquidity pool owners. Making things better, anyone can become a liquidity pool owner, and monetize off of trade volume!!

Let’s dive in on how to do this!

  1. Go to Uniswap.Exchange
  2. Click on the “Pool” Tab. You will see three tabs at the top labeled, “Swap” “Send” & “Pool”. Click the one on the right (Pool). If you follow the link above, you will automatically get sent to the correct tab :).b0e74b6117eef92abf603aad6fb2a20aa870cd88fbf66ea4b0aa53e463b4ef3e.png

3. Similar to the second step on making a trade, you have to connect Metamask:

a. If you have downloaded the browser extension, Metamask, you will need to use this to interact with Uniswap. In the top right corner, there is a box labeled, “Connect to a wallet”. Click on this and connect to one of the solutions that are compatible with Uniswap. If you have not downloaded Metamask, you can download it here: https://metamask.io/ (make sure to double-check the URL from where you download it from!)2c0f7cfecdc71ca9c480d1f1903cac945e53dd9220595804931b6b8cfc2f629d.png

4. Since there is already a liquidity pool made for PHNX, the process to join the liquidity pool becomes quite simple!!

a. Click “Join a Pool”.                                   b37f1a3982ed6c2de04cda4d40871b6258c193cd0378c4a79d4b3024b38ebbf4.png

5. Type in, “PHNX”.

a. You can select any of the liquidity pools, but right now it would likely be best to join the PHNX/ETH pool as that already exists and has liquidity.d06ebb610d5a452765223a8fcb6c0ba8bd296b5e0e16d88479b3aac2d4a8adbf.png

6. In order to join the liquidity pool, you will need to hold both ETH & PHNX in your Metamask wallet.

a. If you don’t hold PHNX, you can purchase it either directly on Uniswap with ETH, or you can purchase it through Bittrex here.

b. If you have not purchased ETH, you will need to buy it from an exchange like Bittrex or through Uniswap! In the future, you can buy it through the Numio Vault (being launched in June!).5ff3a025efce2f91e78bdd34e9518439a2c65280eee557ebd25179400313c201.png

7. Enter in the equivalent of ETH & PHNX that you want to supply.

a. For example, if you have 1 ETH, you will only be able to supply ~13,397 PHNX into the liquidity pool. For 10,000 PHNX, you would only be able to add ~.746 ETH. It has to be the same monetary amount.

8. At the bottom, you will likely see a button that states you need to “Approve PHNX” if it has not already been done before. This will require you to approve a small transaction to Ethereum.                               9df99edd45dbfa8ef2c19b1180c47dd7119b35fa28981645422260ca6937dbaa.png

 

 

9. Click Confirm!

10. Once you have confirmed this transaction, you will be able to add the liquidity to the pool.

a. Click on “supply”, confirm the transaction on Metamask similar to the one above, and you will then be a liquidity pool owner for PHNX/ETH!

If you have any questions please join the official PhoenixDAO (PHNX) telegram group — Telegram

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PhoenixDAO (PHNX)
PhoenixDAO (PHNX)

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