This is a Pangolin Defi exchange review. Pangolin is a community-driven decentralized exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees. Pangolin brings you the best trading opportunities to find and maximize your yield. Avalanche supports the Ethereum Virtual Machine (EVM), which enables traders with Ethereum assets to instantly and cheaply swap tokens.
Pangolin features a liquidity mining program that enables liquidity providers to yield the native governance token, called PNG. All PNG tokens will be distributed to the community, with no premine or early access tokens for creators, to follow a fair launch model. Trading fees (0.30 per cent) for swapping are given to liquidity providers.
Ethereum assets are transferable to Avalanche via the Avalanche-Ethereum Bridge, an implementation of ChainBridge technology developed by ChainSafe, with Protofire, Hashquark, POA Network, Avascan, and Meter.io securing the bridge as “Relayers.”.
This bridge enables DeFi users to pursue yield opportunities with assets like UNI, AAVE, LINK, WBTC and more across two blockchains for the first time.
01:18 How to Setup Metamask Wallet for Pangolin AVAX
Download MetaMask browser plugin extension. MetaMask is supported for browsers are supported: Chrome, FireFox, Brave, and Edge. You can create a Wallet or Import an Existing Wallet.
This is where you have to create or import an existing Ethereum wallet. If you don’t have an existing Ethereum wallet, please select "Create a Wallet". Always keep your Mnemonic and password to yourself and make sure to write it down. Never share this Mnemonic and password with anyone. If that is know by others, they will steal your funds. Note: This is the wallet that will be used to conduct transactions on Avalanche.
Connect Metamask to Avalanche.
Click the drop-down menu and select "Custom RPC."
Enter the following settings into the respective fields:
Network Name: Avalanche Network
New RPC URL: [ Ссылка ]
ChainID: 0xa86a
Symbol: AVAX
Explorer: [ Ссылка ]
How to Add Pangolin (PNG) Token to MetaMask Wallet
Add Pangolin (PNG) token to be displayed on your MetaMask
Select "Add Token"
Select "Custom Token"
You have now successfully added the Pangolin (PNG) token to be displayed on your MetaMask.
How to Buy Avalanch (AVAX) Coin from Exchange and Transfer into Metamask Wallet
You can get AVAX from any of the supported exchanges listed on CoinMarketCap. AVAX can be purchased Binance.com (Non US Users), Coinbase, Huobi Global, KuCoin, Bitfinex. I like using KuCoin exchange because of lower fees and no restrictions for US users. I used KuCoin centralized exchange to purchase AVAX tokens from USDT I had. Then, I switch to withdrawal tab. I select C-chain. You want to transfer funds in C-Chain to your metamask wallet. C-chain is for contract chain. Do not send via X-chain to MetaMask or you will permanently lose your funds. I copied my Metamask C-Chain AVAX wallet address.
Reminder: to use Pangolin, you will need AVAX to cover the gas fees to execute transactions.
Pangolin Transfer from Ethereum via Avalanche Bridge
If you have Ethereum ERC-20 tokens, you can use the Avalanche Bridge to bring them to Avalanche and use Pangolin. The bridge allows you to transfer assets between both blockchain networks.
Swap Tokens on Pangolin
By using the swap function, you can exchange tokens. In this example, there is .01501 AVAX that can swap for 6.626 USDC.e at a rate of 66.3 USDC.e per AVAX with liquidity provide fee of 0.0003 AVax. Price impact is less than 0.01%.
Adding and Removing Liquidity on Pangolin Pools
Pangolin allows token holders to add liquidity to pools. By adding liquidity, you receive PGL tokens, which is a representation of your ownership of the pool. After adding liquidity to a pool, you will see how you can use those PGL tokens to earn PNG here.
Pangolin allows users (liquidity providers) with Avalanche and Ethereum tokens to deposit them and earn yield from exchange fees.
Use Liquidity Provider (PGL) Tokens to Earn the Pangolin (PNG) Governance Token
After you successfully create a pool or add liquidity to an existing pool, you receive PGL tokens. These tokens are a representation of your ownership in a pool. You may use those PGL tokens to earn the PNG governance token by depositing them into one of your participating pools.
Time Lines:
00:00 Introduction to Pangolin Avalanche DEX
01:18 How to Setup Metamask Wallet for Pangolin AVAX
03:21 How to Buy Avalanche (AVAX) Coin from Exchange and Transfer into Metamask Wallet
04:42 Pangolin Transfer from Ethereum via Avalanche Bridge
05:48 Swap Tokens on Pangolin DEX
06:39 Adding and Removing Liquidity on Pangolin Pools
09:18 Use Liquidity Provider (PGL) Tokens to Earn the Pangolin (PNG) Governance Token
SUBSCRIBE: [ Ссылка ]
Relevant hashtags:
#cryptocurrency #avalanche #pangolin #defi
