What is the Radar Relay DEX
Radar Relay is a cryptocurrency exchange that works on decentralized principals and uses the Ox protocol. Ox protocol allows the trading of ERC20 compliant tokens on the Ethereum blockchain. The protocol transmits orders off-chain reducing gas costs and bloat. Relayers collect fees anytime they facilitate a trade and anyone can build a relayer.
Radar Relay DEX facilitates the trading of Ethereum-based tokens by users directly from their wallets.
It works with Metamask and Ledger wallets and allows you to buy, sell, market orders, limit orders and share an order. Sharing an order is sharing one that you place and this is done to any media you like.
It works by clicking on the share icon on an order in the order book, which copies the URL to clipboard and you can paste it into social media, emails and other areas or tools that allow you to share URLs.
How it works/how to trade
Users are able to use Ledger or Metamask wallets to connect to the DEX. Once the wallets have ETH, they can then send to any other account from their wallets. They are required to give smart contracts the permissions to automatically move tokens out of the wallets simply by flipping the toggle.
Those trading Ethereum tokens will need to wrap Eth (WETH) to trade it with other tokens.
- Buyers need to first enable WETH (Wrapped ETH) before buying tokens.
- On the Ethereum Main page, you can choose whether to use Metamask or Leder by simply ticking against any.
- To use Ledger, first, connect the device to the computer and enter a PIN to unlock and then open Ethereum App on the Ledger.
- Open the wallet drawer and locate the Ledger Radio button at the top of the drawer. Select the button. Instructions will pop up.
- Set address using a drop-down. Your token balances appear in the wallet drawer. Your transactions will be confirmed on the Ledger device.
Making trades and limiting orders
Making trades is as easy as Abc. Simply select a buy or sell order from the inside of the order book. You get to view the order this way. You can edit the amount of token you are buying or selling. Place the order by clicking on the “place order” and sign the transaction.
You can also market orders by selecting “Market Order” tab on the order handler. It will batch orders on the book into one transaction. Choose to buy or sell and enter the desired amount. Select buy or sell to complete a transaction.
To limit orders, select the limit order tab on the order handler and choose to buy or sell. You then enter the desired amount, set the price desired, and click on the “place order” and sign the transaction.
Visit the official website of Radarrelay – https://radarrelay.com
Also get a trading guide on IDEX