Dummies Guide to YokaiSwap

The newest Decentralized Exchange (DEX) to come to town is YokaiSwap. This DEX is built for the Nervos Blockchain. It is not Production ready, but you can play around in Testnet mode.

Assumptions

Install Metamask as an extension in your browser. You need Metamask to access the Godwoken Polyjuice Testnet (I know it sounds complicated but it is just a name). Once Metamask is installed, browse to the following:

YokaiSwap

Next, Click Connect Wallet on the far right-hand side of the screen. Select Metamask.

and Switch to the Proper Testnet as shown below:

You will now be connected to your wallet.

Let's get some free Test Tokens by clicking Get Test Tokens and Sign the transaction.

You now have some USDC.

Let's now get some CKB. Expand Asset Bridge on the left and choose Deposit.

Click copy CKB address and click CKB Testnet Faucet. Past your CKB Address and receive your tokens

Note: You can do this once every 24 hours.

Let's now Deposit the CKB we just earned (broke a sweat for that one) from Layer 1 into Layer 2.

Click Deposit and Sign the Transaction. The transaction is submitted and you can view on Explorer.

Let's now create a YOK-CKB liquidity pair. From the Navigation bar, let's choose Trade | Liquidity.

Click Add Liquidity.

I am going in :-) Depending on the Farm you want to join, you need supply the correct liquidity. In this example, I want to join the CKB-YOK Farm. Click Supply and confirm and Sign your transaction.

We are now ready to join the farm.

Expand YOK-CKB Farm and click Stake.

Select the Amount you want to Stake and click Confirm.

Sign the transaction and you are now staked.

To Unstake, select the - sign.

To add to your farm, click the + sign.

When you earn coins, the Harvest button will light-up and you can Harvest those coins into your wallet and re-stake in this farm or pool by clicking the + sign.

In Part 2 of our dummies guide, we will continue with adding more liquidity to different pairs and talk about MONSTER POOLS.

Dummies Guide to YokaiSwap Part 2

YokaiSwap Update - Next generation interoperable Automated Market Maker (AMM) built on Nervos.