Getting Started
OmniDex is a decentralised exchange on the Telos EVM blockchain. By choosing this super-fast, scalable network, OmniDex offers investors low cost rapid transactions and enables them to avoid many of the potential pitfalls of investing on other networks.
The guidance below will help you to get started, explaining how to buy your first tokens and then move them onto the Telos EVM network so that you can start investing in one of the super-high yielding OmniDex farms.
Wallets
In order to start trading on OmniDex you will first need your very own crypto wallet such as Metamask. A crypto wallet is your personal, secure interface that lets you interact with your tokens and make transactions on the blockchain.
If you have just set up a new wallet you may need to add the Telos EVM Mainnet to the list of available networks as this is where OmniDex lives. To do this go to https://chainlist.org/ and type Telos into the search bar. You will be presented with two options. Select Telos EVM Mainnet ChainId 40 and connect it to your wallet.
New Crypto Investors
Once you have your wallet, you will want to add some crypto funds so that you can participate across the crypto universe. To do this you can use an exchange such as KuCoin, Gate.io, MEXC or Probit to convert real world currency into crypto. These funds can then be migrated to the Telos EVM network using one of the methods described below.
Existing Crypto Investors
If you already have some tokens that are currently on another network then you can simply bridge them over to the Telos EVM by using one of the following providers.
More information on bridging onto the Telos EVM can be found here
Trading With OmniDex
With your EVM funds safely deposited in your crypto wallet you are ready to start investing with OmniDex Finance.
Like all other crypto trading platforms, Omnidex pays transaction charges to the network providers for the use of their network. The great advantage of the Telos network is that these gas fees are extremely small, just a few cents, and therefore don't significantly impact the cost of trading. As OmniDex uses TLOS to pay these gas fees, you will always need to have a small amount of TLOS in your wallet in order to transact through the platform.
Backup RPC URLs
OmniDex is a decentralized exchange and uses RPCs to query data and to submit transactions to the blockchain. There may be times when one RPC URL is not as responsive as it should be and during these times you may notice data being slow to load or not loading on your page. To continue using the OmniDex services during these times you may be able to switch to an alternative RPC by switching the RPC URL in the network settings of your wallet.
For a list of RPC URLs and their statuses got to: https://chainlist.org/ and enter Telos in the search bar.
Once you have the URL for an alternative RPC go to your MetaMask wallet:
Click on the MetaMask icon, then click on the three dot icon and select Expand View
Click on your account icon on the top right and select Settings
Click on Networks
Key in the New RPC URL
Click Save
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