How to Trade Tokens
Step-by-Step Walkthrough:
- 1.
- 2.Connect your wallet to the platform.
- 1.Tranchess now supports Metamask, Wallet Connect and Binance Chain Wallet.
- 2.In our guides, we will use Metamask as an example.
- 3.Start trading by:
- 1.Navigating to any of the three "Trade with USDC" button to start trading the token you want
- 2.Or click on "Swap" on the top
4. You need to first:
- 1.Stake your tokens so they can be traded. To stake, please refer to "How to Stake Tokens to Earn CHESS" for a step-by-step guidance.
- 2.Approve USDC under any of the three token trading tabs. Please note: you only need to approve USDC once
5. On Tranchess Swap, tokens are traded at the premium/discount of the future price. You can choose from any of the 40 premiums or 40 discounts, or 0%, which means the order will be placed at the TWAP price. To find out more about the pricing mechanism, please refer to the Whitepaper.
6. Tranchess provides two trading modes:
- 1.Post-Only (aka "Maker"): When Post-Only is enabled, placed orders enter the order book rather than being executed immediately. The minimum order size for post-only is 2000 USDC. To enable post-only, choose "Advanced" and check "Post-Only".
2. Instant (aka "Taker"): When Post-Only is disabled, one can only take the existing orders on the order book. To buy Token Queen for example, choose the desired order from the order book by clicking on the percentages or choose from the Premium/Discount tab, enter the amount, click "Place order" and confirm the transaction in your wallet.
7. After the transaction is through, you will see the order book updated to reflect the filled order. A new transaction will also be updated under “Filled Trades”. If the amount you entered exceeds the available amount on the order book, the exceeding balance will be automatically cancelled. Trades are settled in the next 30-minute Epoch.
8. Once the order is settled, you will be able to claim the amount to your wallet.
9. Click "Claim" and confirm the transaction. The status of the trade will be updated to "Claimed". Your claimed tokens are automatically staked for CHESS farming.