Hi traders, I've been experimenting trading on Radar Relay.
And it's freaking awesome.
Radar Relay.
A while back I posted a review of the 0x Protocol in which I mentioned a few decentralized exchanges (DEX) among them Radar Relay which I'd like to talk about in more details today.
- Radar Relay (RR) is an 0x-based DEX (D0x) which allows you to trade ERC-20 tokens directly from your LEDGER wallet and for no fees (until the 1.0 version is launched);
This is how it works:
First make sure you have Ether in your LEDGER (you'll need it to trade on RR) and that the ETH app is on with Contract Data and Browser support enabled;
Go to Radar Relay and open the App;
- In the App, follow the following steps:
RR first need to convert (wrap) the ETH you want to trade into WETH (WrappedETH) before you can use it to trade, wrapping ETH will cost you a fee equal to a normal ETH transaction.
- Now you can use your WETH to trade tokens as you would in a normal exchange:
- Close your trade by unwrapping leftover WETH... and that's it, you can close the app, your new tokens are awaiting in your LEDGER.
All trades are conducted directly from your secure hardware wallet without exposing your ETH to counterparty risk, user experience is very smooth and is only going to get better as the 0x team has announced the near release of a trading widget which will abstract away the need to wrap ETH.
Interestingly you can also hedge your crypto into a stable coin called DAI directly from the App. DAIMaker is one of the most interesting projects in the industry and will be the subject of a future review.
Now, as you probably noticed, trading on Radar Relay doesn't require the use of ZRX tokens since those are mainly governance tokens. If you'd like to know more about ZRX tokens as an investment I recommend your read my full review of the project.
Cheers.
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Also, make sure to go check out my new project review this time on SpankChain and my interview with Rob Viglione from ZenCash.
Dan.
Tip Jar:
❤️ LTC: LaMv8hWUj88ik2LBJ2ArLoe1WkfTG4M1Eq
💜 ETH: 0x942a1F730f6ED432e663869d61097E73D48037d2