How to use DexLab: A step by step guide

Dexlab is an integrated DEX platform on Solana blockchain. DexLab leverages the Serum Decentralized Exchange (DEX)'s central order book to support users with ultra-fast transactions, shared liquidity, and new features for monetization.

As Coin98 Wallet has been integrated to be one of the official Wallets of the DexLab. In this article, I will guide you through how to make a trade easily from this platform, via the Coin98 Extension Wallet and Coin98 Mobile Wallet.

Quick preparation

Download and install Coin98 Wallet

Mobile wallet:

Now available on Coin98 Mobile Wallet for both iOS and Android users here. Read the detailed instruction about how to install Coin98 Wallet.

Extension Wallet:

The Coin98 Extension Wallet is available on both Google Chrome and Firefox.

Create a Solana wallet (SOL & SPL token)

DexLab is a protocol built on Solana Blockchain, so you definitely need a Solana wallet (SOL & SPL token) to use this platform.

After you have downloaded or updated Coin98 Wallet, you can follow the instructions below to create a Solana wallet or import an existing wallet on other wallet applications into Coin98 Wallet.

Please make sure you have an amount of SOL to place the order.

How to use DexLab on Coin98 Mobile Wallet 

Connect DexLab on dApp Browser

Step 1: Open Coin98 Mobile Wallet, tap Browser.

Step 2: Enter DexLab in the search bar, tap the DexLab logo in the results.

Step 3: Read the warning carefully, then tick to the box if you agree with this information, and tap OK to switch to the next step.

Step 4: Select Connect Wallet and click on Coin98 Wallet to have a connection with DexLab.

Place an order on DexLab

Step 1: Choose the Trading Pair you want to trade, DexLab has currently provided numerous trading pairs with USDC, USDT, SPL, NFT and EXTRA. 

Step 2: In this guide, I’ll choose SOL/USDT for example.

You have to fill in some information as follow:

• Price: The market price you are expected to buy/sell
• Size: Adjust the SOL or USDT to specify the amount of token you want to buy/sell
• Enable POST or IOC mode for trading

POST: POST order will not be executed immediately, it ensures that you are always a maker. If your order will be executed upon entry, this order will be cancelled.

Example:

• If you choose POST and buy 3 SOL, the order price of 180 is lower than the current latest price of 181, the pending order is successful and becomes a Maker.
• If you places an order by the price of 180 and the latest price drops to 178 below 180, your order will be immediately filled, and the order will be cancelled to ensure that you are always a Maker

IOC: IOC (Immediately or Cancel), if the order cannot be filled immediately, the unfilled part will be cancelled immediately.

Example: If you choose IOC and buy 3 SOL. If the order price is 181, there are only 15000 sell orders at the top-selling price of 181. After 15000 sell orders are executed immediately, the remaining 5000 unexecuted buy orders will be canceled immediately.

Step 3: After calculating and filling in all the blank space, tap BUY/SELL and confirm the Dapp request for sign permission. 

How to use DexLab with Coin98 Extension Wallet

Users can visit trade.dexlab.space to start trading on DexLab.

Step 1: Read the warning carefully, then tick to the box if you agree with this information, and click OK to the next step.

Step 2: Click Connect Wallet. Then choose Coin98 Wallet, ​​the wallet will automatically connect with the platform.

Step 3: You're now in the trading interface. Follow the steps on the Coin98 Mobile Wallet version to place the order.

Tips when trading on DexLab

Holding SRM or MSRM makes you eligible for fee discounts. There are no trading fees in this platform. The fees incurring are from Serum DEX.  

Make sure you have enough SOL to pay for the network fee. Connecting Wallet to DexLab also cost an amount of SOL.

Understand POST & IOC trading mode to trade efficiently.

4 reasons to use DexLab directly on Coin98 Wallet

Trading easier with DexLab, Coin98 Wallet DApp Browser brings even more benefits:

Simple, easy to access

The DApp Browser is integrated into the Coin98 Mobile Wallet for both iOS and Android users. Just by clicking Browser on the home screen, you'll be seamlessly taken to the marvelous DApp world to freely explore the best of DeFi.
You can also swap C98 tokens on the Coin98 Mobile Wallet or Coin98 Exchange easily and conveniently.

Minimized risk of fraud

Coin98 Wallet constantly strives to find the top-tier games while prioritizing the safety of users’ assets by integrating the exact address of the game’s platform right on the app. 

Therefore, you can avoid the case of searching and accessing fake game platforms, exposing Private Keys/Passphrases, or swapping scam tokens.

The Cross-Chain Bridge

Considered one of the most innovative features of Coin98 Wallet, the Cross-Chain Bridge allows users to interact with OpenSwap easily and convert ERC20, TRC20, SPL tokens to BEP20 tokens directly using the Mobile App without using third-party applications.

Ability to experience numerous DApps

If you are extremely excited about trading tokens on DexLab after reading this tutorial. Why don't you continue the great experience of other multi-chain DApps on the Coin98 Mobile Wallet DApp Browser? 

Summary

Hopefully, this article has guided you well to trade easier on DexLab. Take advantage of this DEX and get yourself the best profit.

See you in the following articles!