SoDEX is a high-performance order book decentralized exchange integrated directly into the SafePal App ecosystem, allowing you to trade and manage assets directly from your SafePal wallet. This tutorial will guide you through the process of depositing funds into SoDEX and executing a spot trade. Before you begin, ensure you have already created or imported a software wallet in the SafePal App and have sufficient funds (i.e. Mainnet coins) for gas fees.
Prerequisites
- SafePal App version 4.11.8 installed on your smartphone (available on iOS and Android).
- A created or imported software wallet within the SafePal App.
- Sufficient funds and a small amount of Gas coins to cover gas fees.
Part 1: Depositing Funds into SoDEX
This section covers how to transfer $USDC (or other supported tokens) into SoDEX for trading.
Navigate to SoDEX in SafePal App
Open the SafePal App, you can find and tap the SoDEX mini program in the Perps & Spots section of SafePal App, or simply search and find the SoDEX from the Explorer Center.
Once on the SoDEX main program page, locate and click Wallet at the bottom of the interface.
Tap Deposit.
Select the crypto and enter the amount you wish to deposit (e.g., $USDC), and tap Deposit.
Enter your SafePal App password to authorize the deposit transaction.
A prompt message Deposit Completed will appear to indicate your deposit transaction is successful, the balance will update in your SoDEX account, tap Back.
You can see the updated assets balance under the Portfolio of Total Value, your funds are ready for trading.
Part 2: Spot Trading on SoDEX
Once your funds are deposited, you can start spot trading.
Navigate to the Spot Trading Pair
On the SoDEX main page, tap Spot and choose the trading pair that you prefer.
Enter the amount of crypto for your trading order, then tap Buy.
A prompt message Success appearing for a while, it means your trading order is completed.
You can check and view the crypto you bought in your portfolio of the Wallet page.
Congratulations! You have successfully bought the crypto from the SoDEX mini program in the SafePal App. You can further tap the withdraw button from above page and transfer the funds to your SafePal wallet.
Important Investment Disclaimer
Investing in cryptocurrency and using Decentralized Applications (DApps) carries significant risk. Please read and understand the following disclaimer before using the Popular Yield DApp section.
- Not Financial Advice: The information provided in the SafePal App is for informational purposes only and should not be considered financial, investment, or legal advice. SafePal is not your financial advisor.
- Do Your Own Research (DYOR): You are solely responsible for conducting your own research before engaging with any product or DApp. This includes understanding the associated risks, such as smart contract vulnerabilities, impermanent loss, project failure, and market volatility.
- Third-Party DApps: SafePal's vetting process does not guarantee their security or performance. SafePal is not liable for any losses you may incur from using these external services.
- You Control Your Assets: When interacting with DApps, you retain control of your private keys. However, you also bear full responsibility for your actions, including approving transactions.
- Tokenized equity and commodity products are subject to regional restrictions and usage of SoDEX and the terms and conditions listed here.
