Pre-Flight Checklist: Before You Connect
The **LFG Dex** is built for speed and efficiency across multiple chains, allowing you to quickly execute trades and manage risk. Before interacting with the exchange, ensure you have:
- **A Non-Custodial Wallet:** MetaMask, WalletConnect, or similar.
- **Gas Tokens:** Funds in the native currency (e.g., ETH, MATIC) of the network you are connecting to, used to pay transaction fees.
- **Primary Assets:** Stablecoins (USDC, USDT) or the tokens you wish to trade or deposit.
Navigating the Three Core Units of LFG Dex
1. Spot Trading & Swaps
- **Connect Wallet:** Select your wallet and approve the connection request.
- **Set Pair & Amount:** Choose the asset you **'Pay'** and the asset you **'Receive'**. Enter the amount.
- **Check Slippage:** Review the maximum price movement you accept (default is usually fine, but check for large trades).
- **Approve & Confirm:** If it's your first time with a token, approve spending, then click **'Swap'** and confirm the final transaction fee in your wallet.
2. Perpetual (Leveraged) Trading
- **Transfer Collateral:** Deposit stablecoins into your dedicated Perpetual Margin Account.
- **Select Leverage:** Use the slider to choose your desired leverage (up to 50x is common). Remember, 10x leverage means 10x risk.
- **Open Position:** Select **Long** (buy) or **Short** (sell). Use a **Limit Order** to specify the price you want to enter at.
- **Manage Liquidation:** Actively monitor your **Liquidation Price**. Deposit more collateral (margin) if the price moves against you to prevent liquidation.
3. Lending (Earning Yield)
- **Choose Asset:** Navigate to the Lending tab and select a token to deposit (e.g., USDC, WETH).
- **Deposit:** Enter the amount and confirm the deposit transaction in your wallet. You immediately start earning interest.
- **Borrowing:** If you wish to borrow, deposit an asset as **collateral** first. The amount you can borrow is based on your **Loan-to-Value (LTV)** ratio.
- **Monitor Health:** Keep your **Health Factor** high (above 1) to ensure your collateral is not liquidated. Repay the loan anytime to stop accruing interest.
Advanced: Fees and Multi-Chain Swaps
LFG Dex aims for minimal platform fees. In the Spot unit, fees are competitive (often 0.3%) and are primarily routed back to liquidity providers. Perpetual trades incur a small taker/maker fee plus a variable funding rate.
For cross-chain swaps (moving assets from Chain A to Chain B), the Dex intelligently routes the trade. You only pay the gas fee for the initial transaction and a small bridging fee, making the process much faster and cheaper than traditional bridging services. Always verify the estimated fees displayed before confirming any transaction.
Official LFG Dex Resources
Conclusion: Trading with Power and Security
The LFG Dex provides a robust, decentralized environment for all your trading needs, from simple swaps to advanced leveraged positions. By following this guide, you now understand the essential steps and risks associated with each unit. Always conduct your own research (DYOR), manage your risk by setting stop-losses, and never trade more than you can afford to lose. The future of finance is open—go trade!
Start small, stay safe, and enjoy the speed of LFG Dex.