Dexalot BTC Multi-Chain Transition Guide
Dexalot is going multi-chain! This advancement will allow you to deposit common tokens like BTC, ETH and USDT from multiple chains, and Dexalot will display them with standardized token symbols. For example, depositing BTC.b from the Avalanche C-Chain and WBTC from Arbitrum into your Dexalot Portfolio will show as “BTC” in Dexalot. We will start to standardize tickers with BTC first.
Here is a guide to what you need to do to standardize your account and get started trading the BTC/USDC pair.
WHEN
- On Monday April 15, 2024 all activity on BTC.b/USDC pair will be paused except for cancellations. Activity will remain visible until all outstanding orders from all traders are canceled.
- The BTC/USDC pair will be listed at this same time so you can immediately start quoting on the new pair.
WHERE
- When your network is switched to the Dexalot Subnet you will see two different lines for Bitcoin.
- One line will have the old non-standard avalanche symbol — BTC.b and the other line will have the new standard symbol BTC.
WHAT YOU NEED TO DO
- Switch your network to the Dexalot Subnet
- Cancel all of your outstanding orders on the paused BTC.b/USDC orderbook.
- Make sure that your Portfolio Total is equal to your Portfolio Available under the “Balances” tab for the BTC.b line.
Under the “Balances” tab, use the 3 dots on the right and pick “Convert to BTC” to convert your BTC.b to BTC
- Make sure that your new standard BTC token balance line is updated with the amount converted.
You can now start trading with the new BTC/USDC pair!
Please note, the BTC.b line in the “Balances” Tab will remain visible until all traders have converted all their BTC.b. Dexalot is non-custodial and does not have a way to control user funds in any way.
About Dexalot:
Dexalot is a revolutionary decentralized exchange bringing the traditional centralized exchange look and feel to a decentralized on-chain application. Its mission is to bring a truly inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk. It is built on Avalanche, the fastest smart contracts platform in the blockchain industry.
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