Crypto Academy Week 2 Homework Post for [@yohan2on] (100% powered up)
Hello and welcome to this article dedicated to answering the homework proposed by the great professor Mr. @yohan2on, in which I chose to write on Poloni DEX like a decentralized exchange based on the TRON network and explain step by step how to register and how you can trade on it easly with a lot of opportunities. Happy reading and don't hesitate to leave a comment.
A DApp, or decentralized application, is an application that runs on a decentralized network, as opposed to traditional applications that rely on centralized servers. Most often, it has several other characteristics:
Its computer code is fully open source.
It does not need a central authority to function: it thus makes possible direct, peer-to-peer interactions between users, via smart contracts.
It uses a cryptocurrency or a token.
Data is stored encrypted and transparently on a blockchain.
Several decentralized applications are now built on the TRON blockchain among it we find the decentralized exchange platform Poloni DEX.
On the decentralized exchange platform Poloni DEX there are three base currencies offered: TRX, USDT, USDJ, allowing the exchange for any token belonging to the Tron family and also TRC-20 coins in Tron Blockchain like TRC -20 USDT, TRC-20 BTC, etc.
Among the strengths of this platform, what it is known for its low costs and its scalability. Its fees can be neglected 0% especially tokens belonging to the TRON blockchain family.
For the minimum exchange amounts with base tokens, we find 1 USDT, 1 USDJ and 10 TRX.
By respecting the rules of decentralization, Poloniex DEX must be connected to an external wallet named TronLink as an extension in your browser, later we will find out how to perform these tasks.
Download and install Tron Link Wallet
Go to the following link
Add the extension to Chrome. A box appears asking you to click Add an extension. Click on it. It will be installed in your browser.
After installation, it will be displayed in the upper right corner of the address bar of the Chrome browser.
Enter a password and confirm it.
- TronkLink now offers you the choice of creating a new Tron wallet or restoring an existing Tron wallet. Personally, I have an old account so I can restore it.
- We have three restore options, namely a mnemonic phrase / a private key / a keystore. So import your wallet if you have one of the three.
- The wallet is now well configured and ready to use. To access PoloniDEX, select the (Exchange) icon at the top of the portfolio.
How to trade on Poloniex DEX?
- Open the website poloniex.org and tap on the Login link located in the upper right corner. It displays a window, click on "Sign with TronLink Wallet". ...
Click on Exchange
On the left we find all the listed token pairs from the Tron family. You can choose the base token, because you can search on any token to trade in the search box, because you can switch between Hot, Top VOL allowing the exchange of pairs with the best trading volume and Gainers which displays the coins and pairs that made the highest percentage change.
- Using the scale on TRONLink, you can place an order, selecting one of the pairs presented for example SUN / TRX, KLV / TRX, BTT / TRX. Poloni DEX also displays the transaction history and the order book.
- When placing a buy or sell order, it queries TRONLink to confirm the order by asking for your signature. By accepting the order, it is displayed in your order book. You can also cancel this order.
The Poloni DEX team believes that the TRON network will become the most popularized operating system in the blockchain arena and therefore decentralized exchanges based on the TRON network will play an irreplaceable role in providing the infrastructure. to developers and the growth of the entire network.