News > IGG MATIC available to trade on Dfyn!
Following our listing on UniSwap exchange two weeks ago, we are excited to share news that you are now able to trade IGG/MATIC on Dfyn exchange! This trading pair will also be added to IGGalaxy’s Liquidity Incentive Pool Program in due course.
Dfyn offers a fork of UniSwap that exists on Matic Network; unlike UniSwap, however, you will not need to initially swap your IGG tokens cross-chain to trade. In comparison, Dfyn offers far quicker transactions at much lower costs!
With this listing, IGGalaxy’s liquidity pool incentive will be adding the IGG/MATIC pair on Dfyn exchange, which will enable liquidity providers to earn IGG and ORB tokens for supporting the liquidity for this new listing.
IGG/MATIC trading available on Dfyn exchange!
The IGG/MATIC pair is now live, for which we have injected an initial liquidity of approximately 250,000 MATIC, and equivalent amount of IGG based on the price of IGG (on UniSwap) in relation to MATIC at the time.
Dfyn will therefore be added to the IGGalaxy liquidity pool incentive program, adding the IGG/MATIC trading pair to the existing IGG/ETH pair on UniSwap. For the first reward period of Dfyn, there will be 5,000,000 IGG and 50,000 ORB available to liquidity providers.
Liquidity rewards for Dfyn!
In case you missed it, our liquidity incentive serves to reward IGG token holders that provide liquidity for specified trading pairs. Those that do so will receive a share of IGG and ORB rewards: these rewards are calculated by the amount and duration liquidity is in the pool.
Dfyn is a community-governed DeFi project that offers a low-fee automated market maker (AMM) exchange along with yield farming opportunities, combining the unmatched liquidity of Ethereum with the scalability of L2 platforms.
Dfyn will also work on providing a comprehensive platform for social tokens and NFTs. They are currently in early development, and so we expect the statistics and data from the exchange to be provided in the next few weeks.
Join Dfyn’s official Telegram!
Dfyn, Layer-2 AMM exchange.
In order to begin trading your IGG tokens on Dfyn, you will first need to ensure you have MetaMask set up. MetaMask is a market leading multi-chain web-3.0 wallet that is available via browser extensions and a mobile app, allowing you to seamlessly interact with your wallet on DApps and websites of your choosing.
Once you have set up your MetaMask, you can import your Matic IGWallet using your private key or recovery phrase. You will then need to add MATIC as a “custom network”. Once done, you will be able to use MetaMask’s in-app browser or your MetaMask browser extension to connect to Dfyn!
To add Matic as a network on MetaMask, go to your settings, select “Network” and then “**Add** Custom RPC” to add the Matic Mainnet. You will then be required to enter the following details:
The “Chain ID” has recently updated from ‘137’ to ‘0x89’, so you will need to update this before you use MetaMask to connect with Dfyn if you have not done so already.
Once you are connected with Dfyn exchange, you can find IGG on the default lists and begin swapping your tokens or adding liquidity to the pool!
As mentioned in the introduction, IGG stored in your Matic IGWallet can be traded without the need to use the ChainSwap feature to trade on exchanges that operate on Ethereum’s main-chain, for example, UniSwap.
When you swap IGG and MATIC tokens, you are effectively trading with the pool available. For example, IGG purchased with MATIC will be taken from the IGG pool, or vice versa. Deep liquidity is therefore needed to ensure that trading can be carried out without having a huge impact on the overall price, which is determined by the ratio of IGG and MATIC in the pool.
As always, you should expect volatile fluctuations in price.
Layer-2 trading available via Dfyn!
You should also be aware that if you do decide to trade your IGG for MATIC on Dfyn with the aim of then converting your MATIC to ETH, BTC or cash, you will be required to use the ChainSwap feature to send your MATIC tokens from Matic chain to Ethereum chain, which will take seven days. Alternatively, you may be able to convert the MATIC to another token (a stable coin like USDC, for instance) to then withdraw from Matic to Ethereum mainchain.
As adoption of Matic Netwok grows, there will be a reduced need to use the Plasma or POS bridge to move tokens between L-2 (Matic) and L-1 (Ethereum). So, for example, when Coinbase supports MATIC and USDC on the Matic Network you will essentially be able to send your tokens to the exchange to convert to cash or another crypto asset directly.
Anyone who provides IGG/MATIC liquidity on Dfyn exchange, who also meet the eligibility requirements, will receive a share of rewards allocated for the Dfyn incentive pool.
The process of adding liquidity on Dfyn is the same as UniSwap, where you will require a web3 wallet, such as MetaMask. Once you have a MetaMask set up with Matic Network added, alongside IGG and MATIC tokens in your Matic Wallet, you can follow the these instructions:
Please remember you must supply both sides of the pair at equivalent value. For example, if you provide 100,0000 IGG to the liquidity pool, you must add the equivalent amount of MATIC at the current price.
We have been in contact with the team at Dfyn who have discussed the deployment of official liquidity mining pools on their exchange. With the ultimate aim of attracting new holders within within the wider crypto space, we have been given assurances that our IGG token will be present within this.
We are excited to see Dfyn develop as an L2 exchange on Matic Network, particularly as they branch out and operate on other prominent chains.
To keep up to date with developments, please follow us on our various social media channels:
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