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How To Use Kyber DMM: A Step-by-Step Guide

Coin98 will guide you through Kyber DMM and its core features: swapping, liquidity adding, and farming. Let's find out here!
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LilYang
6 min read
Published Sep 10 2021
Updated May 22 2024
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Preparation for trading on KyberDMM

Download and install Coin98 Wallet

KyberDMM is now available on the Coin98 Mobile Wallet for both iOS and Android users.

Read the detailed instruction about how to use Coin98 Wallet or watch the tutorial video below to install the Coin98 Mobile Wallet:

Coin98 Extension Wallet

Follow these steps to install the Coin98 Extension Wallet on Chrome:

Step 1: Find and select Coin98 Extension Wallet on Chrome Web Store;

Step 2: Click Add to Chrome;

Step 3: A pop-up notification is displayed on the screen, please read it carefully. To approve, click Add extension.

Step 4: To use the extension, click the extension icon to the right of the address bar. If the Coin98 Extension Wallet shows up in the drop-down menu, it has been installed and enabled successfully.

kyberdmm in coin98 wallet

Create a Multi-chain wallet (recommended)

Since KyberDMM is a DApp on 3 chains: Ethereum, Polygon and Binance Smart Chain, you definitely need a wallet compatible with these ecosystems to skin-in-the-game. I encourage you to use Multichain wallet to be able to integrate multiple wallet addresses from many different blockchains on the same application.

After installing Coin98 Wallet, you can follow the instructions below to create a Single-chain wallet like Ethereum (ETH, ERC20), Polygon (MATIC, PRC20) and BSC (BNB, BEP20) or import the existing wallet on other wallets to Coin98 Wallet.

Prepare ETH, MATIC, BNB for gas fees

As mentioned above, KyberDMM uses ETH on Ethereum, MATIC on Polygon and BNB on Binance Smart Chain for gas fee. Depending on the network you want to join, you must have these coins as fees to use KyberDMM.

Note: You must transfer the coin to the correct wallet of the network that you intend to execute the transaction.

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Everything is ready! Let's get started!

How to use KyberDMM with the Coin98 Extension Wallet 

From the homepage of KyberDMM, click Connect Wallet and select Coin98 Wallet on the list.

use kyberdmm

Click Connect to connect the wallet.

connect kyberdmm

If you have more than 1 Multichain wallet, you can easily select the desired wallet by clicking on the Coin98 wallet option at the upper right corner of the screen click Manage ⇒ Manage All Wallets ⇒ select your wallet.

connect kyberdmm 2

Note: You guys should convert the Web3 Priority of Coin98 Extension Wallet to your desired chain!

Select the Web3 Priority bar select your desired chain

connect kyberdmm 3

Swap

On the homepage, Click Swap on the navigation bar.

Step 1: Select the token and enter the amount you want to trade from the list.

I will use the BUSD and USDT pair as an example in this guide. If you want to Swap other tokens, you just need to choose the corresponding tokens in the list. For those that haven’t been listed on the KyberDMM, you can still trade using their contract addresses.

Step 2: Read the transaction information carefully:

Minimum received: The lowest number of tokens you can swap.
Price impact: Estimate the % difference in the confirmation time compared to the price on the screen.
Liquidity Provider Fee: a portion of each transaction will be used to provide liquidity.

Step 3: Choose Approve BUSD. The system will charge a very small network fee, if you agree, click Confirm.

swap in kyberdmm

Step 4: After successfully paying the fee, click Swap. The system will pop-up transaction details again on the screen, if you agree, click Confirm Swap.

swap in kyberdmm 2

Add liquidity

On the homepage, Click Pools on the navigation bar.

Step 1: Click “Pools”. Select the token pair you would like to add liquidity. If the pair does not exist, you can create one by clicking “Create New Pool”. I’ll take ETH and KNC as an example.

add liquidity in kyberdmm

Step 2: Click the “+” icon.

add liquidity in kyberdmm 2

Step 3: Choose the amount of assets that you want to provide. Check all the details about Pool Ratio, AMP, Active Price Range, and Dynamic Fee Range.

Afterwards, proceed to add liquidity to the pool and confirm in the Coin98 Extension Wallet.

add liquidity 3

You have successfully provided liquidity to KyberDMM’s pool. You can check your liquidity contribution at My Dashboards.

add liquidity kyberdmm 4

Farm

On the homepage, Click Yield on the navigation bar.

farm in kyberdmm

Step 1: Select the Farm you want to join. I’ll take the USDT - BUSD pool as an example → Click “Approve”.

farm in kyberdmm 2

Step 3: Enter the amount of LP Token you want to Farm ⇒ Stake.

KyberDMM will ask for a small fee to confirm, click Confirm.

farm in kyberdmm 3

After the transaction is completed, the system will display the real-time amount of LP tokens and tokens you’ve received.

If you want to collect this amount, click Harvest.

farm in kyberdmm 4

How to use KyberDMM on the Coin98 Mobile Wallet

To access KyberDMM, after logging in to your Coin98 Wallet account, click Browser on the home screen and select KyberDMM in the DApp Store.

how to use kyberdmm

Normally, your Multichain wallet on Coin98 Wallet will be automatically connected to KyberDMM.

If you have more than one Multichain wallet, you can easily select the desired wallet by clicking on the wallet option at the bottom right corner of the screen.

how to use kyberdmm 2

In case Coin98 Wallet does not connect to KyberDMM automatically, please Click Connect to a wallet in the below left corner of the screen -> select Coin98 Wallet from the list.

how to use kyberdmm 3

Swap

On the homepage, Click Swap on the navigation bar.

Step 1: Select the token and enter the amount you want to trade from the list.

I will use the BUSD and USDT pair as an example in this guide. If you want to Swap other tokens, you just need to choose the corresponding tokens in the list. For those that haven’t been listed on the KyberDMM, you can still trade using their contract addresses.

Step 2: Read the transaction information carefully:

Minimum received: The lowest number of tokens you can swap.
Price impact: Estimate the % difference in the confirmation time compared to the price on the screen.
Liquidity Provider Fee: a portion of each transaction will be used to provide liquidity.

Step 3: Click Swap. The system will pop-up transaction details again on the screen, if you agree, click Confirm Swap.

how to use kyberdmm 5

You have successfully swapped with KyberDMM on Coin98 Mobile Wallet.

Add liquidity

On the homepage, Click Pools on the navigation bar.

Step 1: Select the token pair you would like to add liquidity. If the pair does not exist, you can create one by clicking New Pool. I’ll take ETH and USDT as an example.

Step 2: Click the +icon.

Step 3: Choose the amount of assets that you want to provide. Check all the details about Pool Ratio, AMP, Active Price Range, and Dynamic Fee Range.

Step 4: Select “Approve” to allow your assets to be used. Afterwards, click “Supply” to provide liquidity to the pool and confirm the transaction in the Coin98 Mobile Wallet.

add liquidity kyberdmm

You have successfully provided liquidity to KyberDMM’s pool.

Farm

On the homepage, Click Yield on the navigation bar.

Step 1: Select the Farm you want to join. I’ll take the USDC - USDT pool as an example → Click Approve.

Step 2: Enter the amount of LP Token you want to Farm Stake.

KyberDMM will ask for a small fee to confirm, click Confirm.

farm in kyberdmm

After the transaction is completed, the system will display the real-time amount of LP tokens and tokens you’ve received.

If you want to collect this amount, click Harvest.

Note: The gas fee on Coin98 Wallet has been optimized for users to make fast transactions with the most reasonable cost. You can adjust the gas fee slider to suit your needs.

Why you should use KyberDMM on Coin98 Wallet

For both the newbies and the “4.0 farmers”, using KyberDMM on the Coin98 Wallet DApp Browser brings undeniable benefits, such as:

Simple, easy to access

For the browser, Coin98 Wallet has been integrated into KyberDMM, you only need to access and connect the wallet with a single click.

Besides, the DApp Browser is integrated in 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.

Minimized risks of scams

Coin98 Wallet constantly strives to find the most trustworthy DApps with great use cases while prioritizing users’ security and privacy.

Coin98 Wallet directly integrates the exact addresses of all DApps on the app, which prevents the cases of searching and accessing fake DApps that steal users’ Private Keys/Passphrases, or swapping scam tokens.

The Cross-Chain Bridge

Considered as one of the innovative features of Coin98 Wallet, the Cross-Chain Bridge allows users to interact with KyberDMM easily. Now you can directly convert many token standards right on the wallet via Cross-chain Bridge without using third parties.

Numerous DApps

If you are inclined towards earning on KyberDMM after reading this article, why miss out on the great experience of trying other multi-chain DApps on the Coin98 Mobile Wallet DApp Browser?

Stay tuned for the upcoming planets that are about to be integrated into the Coin98 Wallet Universe!