Resources for DeFi and TELx

Step 5: Swapping Tokens

TELx operates on the Polygon (MATIC) network, so please keep this in mind as we go through the guide

Now that you have some funds in your wallet on the Polygon network and you have some MATIC for gas fees, you can review the options of different liquidity pools from TELx and decide which poll you would like to invest in. A full list of available pools can be found on the TELx Website.
Send Money Smarter (SMS), Remittance Service SMS.jpg
TELxchange Network, DEX TELxchange.jpg
Once you have decided on the pool you'd like to invest in, you need to swap your current funds for those in the pool.

In this example we will use the Balancer Protocol.

  1. Through that link you will notice that you are already on the Polygon Network, but if you ever nee to switch back to the Ethereum network you can do so in the top right corner of the website. Immediately to the left of the network you will see a "Connect Wallet" button. Click it to get your Web3 Wallet connected to the Balancer Protocol. Balancer Bar.jpg

  2. Click the wallet of choice (in this example we are using Metamask). You will need to approve the connection. Balancer Connect Wallet.jpg

  3. Now you are connected and you can proceed to making your first swap. In the top left corner of the page you will see some options ("Pool", "Swap", "Claim", etc...), click on "Swap"..
    Balancer Bar 2.jpg

  4. Select the token that you bridged (most likely ETH) and then select the token you want to swap it for, most likely TEL to get started, on the bottom. Balancer Swap.jpg

  5. You will need to do some math based on the liquidity pool that you selected, so look at the balance of your funds and multiply it by the percentage of that token within the pool.

For example: You have 1 ETH, and you want to join the TEL/USDC 80/20 pool. For TEL do the following calculation - 1 x 80% = 0.8, so you will swap 0.8 ETH for TEL. The same goes for the USDC side of the pool - 1 x 20% = .2, so you will swap .2 ETH for USDC.

(You can always connect with us on Twitter at TELxCommunity and reach out for assistance!)

Once this is complete you are ready to move on to the next step, providing liquidity!