Make Your First Trade

SOY Finance is a decentralized platform enabling quick, safe, and cheap token exchange between users.

Article published on Medium on 1st October 2021.

Few Words About Soy Finance

SOY Finance is a decentralized platform enabling quick, safe, and cheap token exchange between users.

To trade on SOY Finance, you don’t need to apply for any KYC; Your Metamask wallet is enough to get started!

To learn how to set up Metamask for Callisto Network, click here.

Important

To make transactions on Callisto Network, it is necessary to have CLO coins to pay for the gas fee.

Connect To Your Metamask Wallet

1. Navigate to SOY.Finance and click on "Launch SOY Finance.”

2. The Metamask panel appears and invites you to enter your password to unlock it, proceed and click on “Unlock.”

2.a In case the Metamask panel does not open automatically click on “Connect Wallet.”

2.b Select “Metamask.”

3. Chose the account you want to interact with and click “Next.”

4. Confirm by clicking on “Connect.”

5. Your Metamask wallet is now connected to SOY Finance and your CLO coin balance is visible.

Make Your First Trade On SOY Finance

1. Select the asset and enter the number of tokens/coins you want to swap. (1000 CLO in the example.)

Note: It is recommended to keep ~1 CLO in your wallet to cover the transaction fees.

2. Chose the asset you want to trade. The amount of tokens you will receive is calculated by the system and displayed. (155.9 CLOE here.)

3. Click on “Swap.”

4. Verify the figures, if you are satisfied, click on “Confirm Swap.”

Note: Price Impact

The price impact is an important element to consider, especially when you are swapping large amounts of funds. The price impact indicates the difference between the market price and the expected price of the trade.

A high price impact can greatly reduce the number of tokens you will receive, so be sure to check this value before proceeding.

5. Confirm the transaction in the Metamask panel.

6. A message confirming the transaction is displayed, close it by clicking on “Close”.

7. Congratulations! Your transaction is confirmed, you can check its status by clicking “ View on Callisto scan”.