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Spot Trading – LIVE
The Spin users can now access spot trading on NEAR Protocol's mainnet: trade.spin.fi
The current version of the Spin spot DEX on NEAR is the first order book implementation that supports on-chain order matching and NEAR wallet connection. This beta Mainnet release includes the basic features essential for order book trading:
- 1.Order book matching engine (with balance change in case matching happens)
- 2.Market and limit orders
- 3.Maker-Taker fees
Spin has improved the functionality in their last update by implementing trade history, API for market makers, maker/taker fees, and finalizing agreements with the best market-makers.
Primary Spin Setup
If you want to try the public beta version of Spin's spot DEX and you don't have a NEAR wallet, please follow the steps described below:
Create a NEAR wallet and connect it to Spin
- 1.
- 2.Press the "connect" button in the upper right corner
- 3.
- 4.Create an account. Don't forget to save the account's secret phrase in a secure place.
Setting the NEAR Trading key allows Spin smart-contract to spend up to 10 NEAR from the user's wallet for gas fees.
If you don't set up the NEAR Trading key, any on-chain operation (placing orders, canceling orders, etc.) will require approval from the NEAR wallet.
Deposit funds to the trading wallet
- 1.After creating an account, you will be redirected to the Spin website.
- 2.To start trading on Spin, you need to deposit assets to your exchange account. To do so, please press the "deposit" button and insert the number of tokens you want to use.
- 3.After the deposit is completed, you will see the deposited tokens on your Spin account balance. You're ready to trade!
The Beta version of Spin has limits for depositing assets.
Max deposit: 5 NEAR or 100 USDC.
Once the team is satisfied that everything is working well, the deposit limits will be increased.
Trade
- 1.Select the trading pair you want to trade. At the moment, only limit and market orders are available. Soon, we plan to start supporting other order types.
- 2.After filling in all the fields, click the “limit buy/sell” button, and your order will be placed in the Spin order book. You will be able to see it in the “Orders” section.
- 3.After the order is settled, your Spin wallet balance will be updated, and you will be able to withdraw assets.
All transactions on the platform are carried out from an intermediary account, to which funds are sent when placing or executing an order. The Spin team plans to later implement an automatic transfer feature to enable one-click trading from a user's wallet.
If the order is executed or canceled, the funds will be placed in the intermediate wallet. To transfer cryptocurrency to your wallet, just click "Withdraw."
Withdraw
- 1.If you want to transfer cryptocurrency to your wallet, just click "Withdraw." The button is placed in the upper right corner.
- 2.Chose token and amount.
- 3.If you didn't have such a token on your own NEAR wallet before, NEAR protocol will ask you to pay 0.00125 NEAR to create a sub-account for this token.
- 4.Press "Withdraw," and tokens will be transferred from the exchange account to your NEAR wallet.
Last modified 2d ago
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Contents
Primary Spin Setup