This article is a step by step guide on how to get started with Telos Swaps. It is intended to make it simple for anybody who has never used the Telos blockchain to explore Telos Swaps. If you don’t find the answers you are looking for here please join our Telegram channel on https://t.me/tswaps.
1. Create a Telos account
The Telos blockchain uses named accounts. You cannot use the blockchain until you create an account. Visit telos.net (https://explore.telos.net/create-account) to create your account.
You can verify that your account was created successfully by visiting the Bloks block explorer (https://telos.bloks.io) and entering your account name in the search bar in the top right of the screen.
Be sure to back up and securely store the private keys for the account you just created. If you loose your keys you will be locked out of your account forever.
2. Get a Telos wallet and import your account
Telos swaps currently supports the Greymass Anchor wallet, Scatter and SQRL desktop wallets and the Ledger hardware wallet. For this document we will use the Gerymass Anchor wallet which works on mobile and desktop. To get the Anchor wallet visit https://greymass.com/en/anchor.
You can add your account to the Anchor wallet by importing the (active) private key for the account you created in step 1.
3. Get TLOS using “tradefortlos”
tradefortlos allows you to get TLOS simply by buying EOS on your favourite exchange then withdrawing it to the tradefortlos smart contract using your Telos account name as the withdrawal memo. The tradefortlos will use the EOS it received to purchase TLOS on Newdex (https://newdex.io/trade/eosio.token-tlos-eos) and deposit it in your Telos account.
By using tradefortlos you avoid having to sign up to a new exchange just to explore Telos Swaps. If you enjoy the Telos Swaps experience you may want to consider signing up to one of our supported exchanges. You can find details on the telos ecosystem by visiting telos.net (https://explore.telos.net).
Note : tradefortlos executes using smart contracts on the EOS and Telos blockchain. Verify that you have entered the withdrawal address as tradefortlos and the withdrawal memo as your Telos account name. An error in either of these fields will result in the loss of your funds.
4 Complete your first trade
i. Navigate to the Telos Swaps website at https://www.tswaps.com
ii. Click “Login” and select Anchor Link as your wallet provider. Complete the login process.
iii. Your TLOS balance should now appear below the TLOS entry box on the right of the screen.
iv. Select the token you would like to swap to by tapping / clicking the right side token image.
v. Complete the transaction by entering the amount to convert, clicking the “CONVERT” button in the centre of the screen and approving the transaction when prompted to do so by your wallet app.
vi. Congratulations, you have just completed your first token swap transaction. The transaction will complete in seconds. You can verify the transaction by clicking on the link provided in the confirmation screen.