How to get MoC tokens in the TEX
This document shows how to get MoC tokens in the TEX. If you need further explanation on how to use the TEX, you can go to Using the TEX.
Remember that in order to operate in the TEX you need enough rBTC balance to pay gas for every transaction. If you want to get rBTC you can check it out in Money on Chain’s wiki.
To enter the TEX you have to connect to the app using Metamask, Liquality, or Nifty Wallet, which is the one used in this example. In case it shows zero balance when connecting, and even though the corresponding RSK network is selected, just click on network and select RSK (mainnet or testnet, as the case may be). With that, it should be resolved.
As with other apps, when connecting for the first time the wallet will request to sign a message to connect to the application.
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After signing the message, you will see the home page where you can select MOC/WRBTC pair:
Amounts and prices in this guide are figurative as it was made in Testnet.
The first thing the app requests is to configure what is called ALLOWANCE, which is the amount of funds in the wallet that is authorized to exchange within the TEX app. Only in the case of rBTC, you must "wrap" them to obtain WRBTC. This way, you will be able to exchange rBTC directly with other tokens.
Once wrapped rBTC, you have to set the allowance for both tokens. This can be done once every now and then since you can allow a big amount but no need to use it all.
To set the allowance to operate in the TEX, click on SET ALLOWANCE and enter an amount. For this example, we are going to set the allowance at 500 MoC.
And for WRBTC at 0.03.
Once the allowance for the MOC/WRBTC pair is configured, a buy or sell offer can be placed.
In the BUY & SELL TOKENS box there are several things to consider:
- Choose LIMIT ORDER or MARKET MAKER ORDER
- BUY or SELL
- AMOUNT, PRICE, AND LIFESPAN of the offer expressed in ticks but estimated in minutes/hours
- SUMMARY: fee, amount to sell/buy after the fee is applied, and how much will be received. If the order expires or is canceled, part of the fee will be received back.
In a Limit Order, a purchase or sale order is made, setting a limit up to which the operation is to be executed. That is, buying for a price less than or equal to X or selling for a price greater than or equal to Y. The total amount of the order is provisionally deducted from the account balance. These types of orders guarantee to buy or sell at the stipulated price or a better one.
In this example, we are placing an order to buy 100 MoC at WRBTC 0.00001. And set the to 500 which represents approximately 41hrs.
If you want more detailed information about how to use TEX, including how to make a MARKET MAKER ORDER, you can read Using the TEX.
Last modified 6mo ago