New Tutorial: Check out how you can use these two DEX’s!

Let’s take a closer look at OmniDex and Zappy. These DEX’s both demonstrate how lightning fast the Telos EVM truly is.

These are both decentralized exchanges that run on an automated market maker system. As always, trade responsibly. NFA | DYOR! Check out our beginners playlist if you want to see more video’s.

For those who rather read the transcript instead of watching the video

Decentralized finance + Telos EVM Once you’ve tried it,
there’s no going back.
Before we start off, click the subscribe button below the video,
and also follow us on twitter: @DutchEOS
Telos solves many of the key problems faced by existing blockchains to date,
offering a powerful scalable platform with a lot of potential for mainstream adoption.
Telos blocks are created every 0.5 seconds
This means better arbitrage options, less slippage and a buttery
smooth user experience
Gas fees are fixed and can be adjusted down if the TLOS price rises
Front running has been dealt with
These features allow decentralized exchanges
to run very fast and fair.
Today we are going to check out Omnidex and zappy.
These DEX’s are deployed on the Telos EVM and run on an
automated market maker system.
(On AMM-based decentralized exchanges, the traditional order book is replaced
by liquidity pools that are pre-funded on-chain for both assets of the trading pair.
The liquidity is provided by other users who also earn passive
income on their deposit through trading fees based
on the percentage of the liquidity pool that they provide)
If you want to know more about how AMM systems work,
check out the link in the description box
Before we start off… Please watch our metamask videos
in this playlist if you haven’t setup up or used this wallet
Let’s begin, go to https://omnidex.finance/
and https://www.zappy.finance connect with metamask
In the top section go to trade/swap
Here you can swap tokens, let’s swap out TLOS for USDC.
In the bottom section you can see the details of the transaction.
Select swap, approve the TX in metamask.
Your TX is now being processed, confirm → add USDC to your token list.
Done! you’ve now swapped TLOS for USDC
Before we go to the next section, please check out this
link and educate yourself on impermanent loss,
the link is in the description box alongside the IL loss calculator.
Now let’s look at farms, here you add liquidity
pairs and earn passive income based on the APR.
If you want more info on APR, APY and in debt
yield calculations, check out this link
We need LP tokens to add to the farm. My farm of choice is
going to be the TLOS – USDC Farm.
Now we are going to create the required LP token.
Go to liquidity/add liquidity, select add liquidity
Select the amount of TLOS and USDC
Click create, confirm the TX and add the LP token to metamask
by pressing confirm in the interface. Now we have created an LP token, t
his process is reversible in case you want to retrieve your original tokens.
Go back to Farms and enable the TLOS-USDC farm, give permission in metamask
Click Stake LP and select the amount you want to stake in the farm
Confirm the TX in Metamask, done! Now you are earning passive income
You will earn either Charm/ZAP,
these are the native tokens of both DEX’s and can be:
Harvested from the Farms
Used to swap tokens
Re-staked to earn even more Charm/Zap
To stake your earned tokens. Go to stake
select the amount you want to stake and confirm the transaction in metamask
Done!
Now that you’ve learned the basics of using a DEX.
It’s advisable to use the analytics page or https://dexscreener.com
to keep track of all the real time price action. Happy Farming!
If you enjoy our content please leave a like,
comment below the video and subscribe to the channel.
Don’t forget to follow us on twitter @DutchEOS.
Thanks for watching and I hope to see you all in the next one!