Astar (ASTR) is now live on Polkadex Orderbook
With ASTR/USDT trading pair, ASTR becomes the first Polkadot parachain project token to be listed on Polkadex Orderbook
Astar Network and the Polkadex parachain have successfully established HRMP channels, marking a significant milestone in the development of Polkadex Orderbook. ASTR now proudly holds the distinction of being the very first Polkadot parachain project token to go live on Polkadex Orderbook — and only the fourth token to do so following PDEX, USDT, and DOT.
But that’s not all! Get your trading hats on because the ASTR/USDT market has sprung to life! Polkadex Orderbook users are now empowered to unleash their high frequency trading (HFT) bots and securely place both limit and market orders within the ASTR/USDT trading pair.
“We are excited about the listing of ASTR and our milestone collaboration achieved through unity and innovation! The listing of ASTR on Polkadex Orderbook marks a significant moment for both Polkadot & Astar’s communities and DeFi users. This partnership exemplifies the strength of collaboration and the power of non-custodial trading. We are happy to offer fee-free trading to our users”
Maarten Henskens, Head of Astar Foundation
The listing of ASTR comes after a period of close collaboration between both parachain teams, which included a near unanimous governance proposal and diligent HRMP channel testing. As the first Polkadot parachain token listing on Polkadex Orderbook, the listing of ASTR is not only a significant milestone in the evolution of Polkadex but it is also an important development for DeFi on Polkadot: ASTR is the first Polkadot parachain token to benefit from non-custodial high-frequency trading infrastructure. Current and future ASTR holders and traders stand to benefit from Polkadex Orderbook’s cutting edge trading platform: a CEX-like DEX with limit and market orders which combines the best of CEXes and DEXes while eliminating the issues of both. Better yet, traders on Polkadex Orderbook can forget about network and trading fees as they enjoy a fee-free trading experience!
“We’re proud to give the Astar community a better option for trading ASTR,” said Polkadex CEO Gautham J. “ASTR holders and traders no longer have to decide between secure, but slow, expensive and price-inefficient DEXes and fast, but risky, custodial CEXes. With Polkadex Orderbook, Astar community members can now trade ASTR at HFT speeds without ever giving up control of their funds to a centralized entity.”
Additionally, the listing serves as a showcase of Polkadex Orderbook’s technical support for the layer 1 Astar Network, paving the way for additional Astar token listings — an idea made all the more exciting by the advent of Astar zkEVM.
While the listing on Polkadex Orderbook is set to mark a before and after for ASTR traders, the start of cross-chain messaging between Polkadex and Astar Network promises to make a greater impact on DeFi by delivering additional liquidity and interoperability solutions in more markets within Polkadot and beyond.
Trading ASTR on Polkadex Orderbook: A guide
For all those who cannot wait to get their hands on ASTR and Polkadex Orderbook, we have prepared the following walk-through guides. These will be helpful for traders throughout the whole process — from signing up on Polkadex Orderbook, to making their first trade, and even withdrawing their profits back to their wallets.
Before jumping into the detailed trading guide, it is important to note that as a result of years of independent research and development, and due to its cutting-edge nature, Polkadex Orderbook is still in beta mode. When using Polkadex products, just as when you navigate the world of DeFi, Polkadex recommends caution. If you encounter any issues or have suggestions, please feel free to raise them with the team, as they may qualify for rewards as part of the treasury-funded Polkadex Beta Program.
Before you get started, you’ll need a browser extension wallet for Polkadot, like PolkadotJS or Talisman, along with some PDEX on Polkadex, some DOT on AssetHub and either some USDT or ASTR from AssetHub or Astar Network, respectively.
Sign up for Polkadex Orderbook
- Visit orderbook.polkadex.trade, click on ‘Register’ and follow the sign up process to start trading on Polkadex Orderbook
- Click on Connect Wallet in the top right corner and follow the steps to Create a trading account by connecting your funding account via your browser extension wallet. You can also create a trading account directly from the Wallets page.
- In the Wallets page, select a funding account and click Use in Orderbook and approve the necessary signatures from your browser extension.
- Once you’ve connected a Funding account, scroll up on the Wallets page and follow the steps to Create a trading account. Be sure to save your trading account’s mnemonic phrase in a safe place.
- Once you have connected your Funding account and created a Trading account, navigate to Balances to view the assets in your funding account (on the Polkadex network) and transfer assets from your funding account to your trading account in order to trade.
Deposit to Polkadex Orderbook
- From the Balances page, click Deposit to navigate to the THEA bridge interface.
- Click ‘From’ to select an origin network and select AssetHub if depositing USDT, or Astar Network if depositing ASTR. Select the wallet that has the USDT or ASTR balance you’d like to deposit to Polkadex Orderbook.
- Click ‘To’ and select your Funding account as the destination Polkadex account.
- Select the asset (and amount) you want to transfer to the Polkadex network and click on the Deposit button.
- Confirm the details on the side window, click Confirm Transaction and approve the transaction using your browser wallet to initiate your deposit between the network of origin and the Polkadex parachain.
- Once the transfer is approved on Polkadex Parachain (in about a minute), your deposit will appear as ‘(1/2 Approved)’ on the Transactions page, as you still need to claim the deposit from the Polkadex parachain to complete the transfer to the Polkadex network. You may need to ‘Refresh’ the ‘Transaction Log’ to see it.
- After your deposit is marked as ‘Approved’ in the Transaction Log, a Claim Deposits button will appear on the top right corner of the Transaction Log. Click on Claim Deposits to claim any of your unclaimed deposits from the Polkadex parachain to your Polkadex network account and complete the deposit process.
- Navigate to the Balances page on Polkadex Orderbook to see your deposit reflected in your Funding account balance.
- Finally, use the Orderbook transfer function in the Balances page to transfer your newly added funds from your Funding account to your Trading account.
Screenshots: THEA Deposit page, Transactions page, Claim Deposit button page, + Orderbook assets page
Trading on Polkadex Orderbook works just like on any other order book-based exchange! Here’s a short guide on how to place both limit and market orders in the ASTR/USDT spot market on Polkadex Orderbook:
- Once you have funds in your Trading account, navigate to the Exchange page and select the ASTR/USDT pair from the top left drop-down menu.
- Click on Buy or Sell in the top right trading console depending on how you want to trade. In this market, a Buy order will mean you are buying ASTR with USDT, while a Sell order entails selling ASTR for USDT.
- To place a limit order, choose Limit Order from the top right drop-down order picker and set the price and amount of your order. Limit orders will get filled once the market reaches the price set in your order.
- To place a market order, choose Market Order from the top right drop-down order picker and set the amount you want to buy or sell. Market orders will fill existing limit orders and are executed immediately at the prevailing market price, with the ultimate price depending on the amount in the market order filling existing limit orders.
- When you are ready to place an order, click Trade
Withdraw from Polkadex Orderbook
- From the Balances page, use the Transfer button to transfer the funds you’d like to withdraw from your Trading account to your Funding account.
- Click Withdraw on the asset you’d like to withdraw to navigate to the THEA bridge interface.
- On the THEA bridge interface, click ‘From’ to select your Funding account wallet containing the balance you’d like to withdraw from Polkadex Orderbook.
- Click ‘To’ and select the destination network you’d like to withdraw to as well as the destination network account.
- Select the asset (and amount) you want to transfer to the destination network and click on the Withdraw button.
- Confirm the details on the side window, click Confirm Transaction and approve the transaction using your browser wallet to initiate your withdrawal.
- After a built-in safety delay of 1000 blocks (roughly 4 hours), your withdrawal will travel from Polkadex to the Polkadex parachain, and finally to your chosen destination network (in this case, either Astar Network or AssetHub) via XCM messaging.
- Visit the Assets tab on THEA or the Balances page on Polkadex Orderbook to check your updated ASTR and USDT balances on the Polkadex network.
- Check your wallet balance on the destination parachain(s) to see your ASTR and/or USDT.
Last but not least, we’ve created an astar channel on the Polkadex Discord server to address any questions about ASTR on Polkadex Orderbook.
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Polkadex is a fully non-custodial, peer-to-peer, orderbook-based cryptocurrency exchange for the DeFi ecosystem built on Substrate and designed to become the ultimate trading engine for Web3. Polkadex has developed Polkadex Orderbook, an easy-to-use platform that combines the benefits of centralized and decentralized exchanges into one cutting-edge, non-custodial solution that caters to all crypto traders.