How to use Pangolin Exchange - A step-by-step Guide

Pangolin Overview

Pangolin is an AMM similar to Uniswap, built on the Avalanche blockchain (C-Chain), that allows users to swap Avalanche and Ethereum assets with an optimized fee. The procedure of accessing Avalanche-based DApps, notably Pangolin, is more complex than usual due to the three supporting chains: C-Chain, X-Chain, and P-Chain. 

AVAX is Avalanche’s native token used to determine transaction fees on the exchange.

Preparation for trading on Pangolin 

What are the prerequisites for trading on Pangolin?

First, users need to download the application and create an account (optional) on Coin98 Wallet.

Coin98 Mobile Wallet version X is available for download.

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

Coin98 Extension: Follow these below steps to install 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. This dropdown will show you Coin98 Extension Wallet is installed and enabled in Chrome

How to create an Avalanche C-Chain Wallet on Coin98 Wallet? 

Before using Pangolin, users need to create an Avalanche (AVAX) C-Chain wallet. Coin98 Wallet version X is presently one of the few parties that supports Avalanche wallet on both chains (C-chain and X-chain). Users can create a new Avalanche C-Chain wallet on Coin98 Wallet or import an existing Avalanche C-Chain wallet from other wallets to Coin98 Wallet.

All barriers between the C-chain and the X-chain have now been removed thanks to the Coin98 Wallet version X's Cross-Chain Bridge feature. If tokens are not available on the C-Chain, users can use this method to convert AVAX between the X-Chain and the C-Chain directly in the app. This is one of the Coin98 Wallet's technological improvements to make it easier to trade on Pangolin.

• Instruction to create an Avalanche (AVAX) Wallet on Coin98 Wallet here.

Preparing AVAX C-Chain as gas fee

Pangolin uses AVAX C-Chain for gas fees. Therefore, to swap tokens on Pangolin, users must have AVAX C-Chain. Users can buy AVAX on a centralized exchange such as Kucoin and send it to Avalanche (C-chain) wallet address on Coin98 Super App.

In addition to the network fee and the fee for LP, Coin98 Native Swap will charge a fee of 0.8% on the token swap for each transaction. This fee will be used for buying back C98 and supporting the continuous development of making Coin98 better in the future.

Note: Binance Exchange only supports AVAX tokens on the X-chain. To convert AVAX tokens to the C-CHAIN, send them to the Avalanche (X-chain) wallet address on Coin98 Wallet and use the Cross-chain Bridge function. 

How to Swap with Pangolin on Coin98 Wallet

Step 1: Click Swap.

Step 2: Choose Pangolin.

Step 3: Click the settings icon at the top right corner of the screen and choose between 2 interface options: the Basic UI (1) and the Pro UI (2).

Users must fill in the following information to complete the transaction:

• Choose the trading pair from the list: For example, AVAX and PNG. Users can choose other tokens as preferred.
• For those tokens that haven’t been listed on Coin98 Wallet, users can trade using their contract addresses.

Step 4: Slide the bar to adjust the trading amount. Click Swap to finish.

Wait for the transaction to complete and click OK.

Note:  

• The default gas fee on Coin98 Wallet has been set for the highest speed with the most reasonable cost. Users can also adjust the gas fee and slippage by clicking the settings icon at the top right corner of the trading interface.
• The arrow in the middle of the trading interface is used to switch between the buying and selling positions. Users need to check the tokens’ positions carefully before making any transactions.
• Users need to create an Avalanche wallet and deposit AVAX into the wallet to pay the gas fee before trading.
• The Approval step only displays in the very first trade. In the following trades, users only need to click Swap to complete the transactions.

After swapping successfully, users can access the Trade History from the swapping interface to view their transactions or go back to the home screen to check the traded tokens if needed.

How to use Pangolin on the Coin98 Wallet dApp browser 

How to Swap tokens on Pangolin 

Step 1: Click Browser.

Step 2: Find and click Pangolin in the Exchange category.

Step 3: Select "Launch App".

Step 4: Choose the token to Swap.

Step 5: Enter the amount -> Confirm Swap.

Step 6: Click Send to complete the transaction.

Note:

• The swapping amount shouldn't be MAX as users need a proper amount of AVAX to pay for the transaction fee.
• After clicking Send, if nothing happens and the transaction confirmation doesn't appear, the transaction fee on the Avalanche platform is likely too high. To switch back, simply click Cancel and swap again.

How to add liquidity on Pangolin

Step 1: Click Pool.

Step 2: Click Add liquidity or Create a pair if the trading pair is not available. 

Here we click Add liquidity. 

Step 3: Choose the liquidity pair and enter the trading amount.  

Note: Users must provide a proper amount of tokens with the same value in USD. 

Step 4: Carefully check the information and click Approve PNG.

Step 5: Slide the bar to pay for the confirmation fee. Then click Send to approve the confirmation.

Step 6: Waiting for the approval and then click Supply.

Step 7: Click Confirm Supply on the pop-up window to continue.

Step 8: Click Send to approve the confirmation and wait for the transaction to complete. 

Users now have successfully added liquidity on Pangolin. 

How to use Pangolin with the Coin98 Extension Wallet 

Connecting the Coin98 Extension Wallet to Pangolin

Step 1: Go to Pangolin Exchange via: https://www.pangolin.exchange/

Step 2: Click Launch App. 

Step 3: Enter the password to log in to the Coin98 Extension Wallet. Click Connect and start trading.

Swap

Step 1: Click Swap and enter the trading amount.

Step 2: Carefully check the information and click Swap to continue.

Step 3: Click Confirm Swap. 

Step 4: Click Confirm on the pop up window to approve the transaction.

Step 5: Wait for the transaction to complete.

Users now have successfully swapped on Pangolin. 

Add liquidity

The Pools feature on the Pangolin exchange allows users to provide liquidity by adding tokens to different liquidity pools (LPs).

Step 1: Click Pool. On the main screen, there will be 2 options: Add liquidity and Create a pair. Users add liquidity to an available pool or create a pair as preferred. 

Here we choose Add liquidity. 

Step 2: Enter the trading amount and select the token to add liquidity. 

Step 3: Carefully check the information and click Supply to continue. 

Step 4: Click Confirm Supply on the pop up window to continue. 

Step 5: Click Confirm to approve the transaction and wait for confirmation to complete. 

Users now have successfully added liquidity on Pangolin. 

Conclusion 

Hopefully, this article can effectively support users in using Pangolin with Coin98 Wallet. 

If there are any questions, please feel free to comment below or join Coin98 community for further discussions about Crypto!