How to use
How to Use AYIN Decentralized Exchange (DEX)
Welcome to AYIN, the Decentralized Exchange (DEX) on Alephium! In this guide, we will walk you through the basic steps on how to use our DEX and make the most of its features.
Why Not Rewards Per Block?
You might be wondering why we have chosen not to implement rewards per block in AYIN. Our decision stems from our commitment to a sustainable and user-friendly platform. By avoiding rewards per block, we aim to have less involvement in constantly re-weighting or ending pools to launch new ones, or inadvertently reducing rewards in the most crucial pools. This approach ensures a more stable and rewarding experience for all users. This allows allocation to pools based on numbers that are decided at launch without the problem of ever decreasing emissions to important pools as supply is reached in later years, or worse having to kill pools to ensure top priority ones stay active.
Understanding AYIN's Utility
AYIN is a utility token, which means its primary purpose is to grant access to exclusive features and services within our app. Holding AYIN allows you to unlock premium services, gain access to specialized content, and participate in unique events and promotions.
Exploring the DEX
Now that you have AYIN tokens, let's explore the AYIN DEX. Our user-friendly interface provides a seamless experience for buying and selling tokens. The DEX also features liquidity pools and staking options through the XAYIN protocol.
Trade
Trading on AYIN DEX is a straightforward process. Here's how to trade tokens:
Access the AYIN DEX and navigate to the "Trade" section.
Select the token pair you want to trade (e.g., AYIN-ALPH).
Input the amount of tokens you wish to buy or sell.
Confirm the transaction and pay the required gas fees.
Congratulations! You have successfully completed a trade on AYIN DEX. The tokens will be transferred to your wallet accordingly.
Liquidity
The "Liquidity" section allows you to add or remove liquidity for token pairs. Here's how to do it:
Adding Liquidity
Access the AYIN DEX and go to the "Liquidity" section.
Select the token pair you want to provide liquidity for (e.g., AYIN-ALPH).
Input the desired amount of both tokens you wish to add to the liquidity pool.
Confirm the transaction and pay the necessary gas fees.
Once the transaction is successful, you will be a liquidity provider for the selected token pair, earning rewards based on your share of the liquidity pool.
Removing Liquidity
Visit the AYIN DEX and navigate to the "Liquidity" section.
Select the token pair for which you want to remove liquidity (e.g., AYIN-ALPH).
Input the amount of LP tokens you wish to remove from the liquidity pool.
Confirm the transaction and pay the required gas fees.
By removing liquidity, you will receive the corresponding amounts of each token based on your share of the liquidity pool.
Stake LP
The "Stake LP" section allows you to stake your LP tokens. Here's how to do it:
Access the AYIN DEX and go to the "Stake LP" section.
Choose the amount of LP tokens you wish to stake.
Confirm the transaction and pay the required gas fees.
After successfully staking your LP tokens, you will be eligible to receive staking rewards based on your stake's duration and the total amount staked.
XAYIN Protocol
The XAYIN protocol is a crucial component of our DEX that provides AYIN stakers with rewarding opportunities. Here's a brief overview of how it works:
Staking AYIN Rewards: Stakers can stake their AYIN rewards in the XAYIN staking pool. By doing so, they gain access to exclusive benefits.
0.15% Trading Fees: Stakers receive 0.15% of all DEX trading fees through periodic buybacks of AYIN. These buybacks are sent to the reward contract, increasing stakers' token holdings.
Extra AYIN from Initial Mint: In addition to the regular rewards, Stakers can receive an additional 100,000 AYIN tokens over a year.
Possible Eligibility for ALPH Distribution: Depending on various factors, stakers might become eligible for ALPH token distributions. This opens up the potential for additional benefits based on grants, sales, and other considerations.
Trading Fee Allocation: The DEX charges a total trading fee of 0.3%. Out of this, 0.15% is allocated to Liquidity Providers, while the remaining 0.15% is directed to the AYIN single stake pool. This distribution can be executed manually every week.
Burn and Mint Mechanism: Within the XAYIN protocol, you can mint XAYIN tokens with AYIN. Stakers have the option to burn XAYIN tokens to receive all the accumulated AYIN rewards they earned while being in the pool.
The XAYIN protocol ensures consistent and balanced rewards for stakers, avoiding the need for constant re-weighting or pool changes. It creates a stable and rewarding experience for all participants, enhancing the overall liquidity and user engagement on our DEX.
By participating in the XAYIN protocol, liquidity stakers can maximize their rewards and actively contribute to the growth of the AYIN ecosystem.
Pool
The "Pool" section shows existing pools and allows users to create new pools for LP. Here's how to do it:
Access the AYIN DEX and go to the "Pool" section.
Click "Pool" to view the existing pools and their details with (you will need to choose which tokens to view the pool details) .
To create a new pool, click on "Add Pool" and follow the instructions provided.
Confirm the transaction and pay the necessary gas fees.
Creating a new pool allows users to participate in providing liquidity and contributing to the growth of the DEX.
Legal Disclaimer
Please keep in mind that the purchase and use of AYIN tokens are subject to the laws and regulations of your jurisdiction. Ensure that you comply with any legal requirements before participating in the token sale or using AYIN tokens on the DEX.
Conclusion
Congratulations! You have successfully learned how to use the AYIN Decentralized Exchange. By holding AYIN tokens, you can enjoy exclusive benefits and participate in various activities within our platform. We are excited to have you as part of our growing community and look forward to creating a thriving ecosystem on Alephium together.
Should you encounter any issues or have any questions, our support team is here to assist you. Happy trading and staking on AYIN DEX!
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