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Osmosis Liquidity Mining | ParaSwap takes you from $SPACE back to Osmosis to connect to Cosmos

Jun 17, 2022

In the previous article, I wrote about Osmosis’s currency exchange for $MATIC , what about the inversion? Or how about simply swapping $SPACE for Osmosis’s currency?

I said that I will not write repetitions, so the return trip will not be so boring as Uniswap -> Curve Finance -> Satellite -> Osmosis Frontier. Nor will $SPACE use Uniswap to exchange $MATIC to exchange coins on Cosmos.

Let's talk about ParaSwap -> Satellite -> Osmosis Frontier, in detail:

ParaSwap converts $SPACE of Polygon chain on MetaMask to $axlUSDC
Satellie bridges $axlUSDC of Polygon chain on MetaMask to Keplr to become $axlUSDC of Osmosis Frontier

Is it cooler?

If you don't have $MATIC for tolls, it is recommended that you refer to the methods mentioned above to obtain $MATIC.

Convert $SPACE to $axlUSDC in ParaSwap

ParaSwap is an aggregation exchange, you can refer to the introduction of Chain News . You must say:

"You. Lie. Me! I can't find $SPACE on it".

However, you can try to use its Wrapper to exchange anything. Normally, you can't find $SPACE and $axlUSDC, because you have to add it yourself.

1. Go to ParaSwap and click "Connect Wallet" in the upper right corner.

2. Connect your MetaMask.

3. Click MATIC on the currency exchange interface, and the Pay With… page will appear.

4. Enter The Space's smart contract address 0x264808855b0a6A5a318D238C6ee9F299179f27FC, click I confirm that I want to import this token, and then click Import Custom Token.

The smart contract address for The Space can be found on CoinGecko .

5. Continue to enter the smart contract address 0x750e4c4984a9e0f12978ea6742bc1c5d248f40ed of axlUSDC, click I confirm that I want to import this token, and then click Import Custom Token.

The smart contract address of axlUSDC can be found at https://axelarscan.io/assets .

6. Back to the transaction screen, is it fun to pay SPACE Receive axlUSDC? But you need to unlock (Unlock) your SPACE to be able to trade on ParaSwap. The path it takes will be displayed on the right, which is to exchange SPACE for USDC and then to axlUSDC. After MultiSwap, it means multiple conversions, and how much axlUSDC is expected to be exchanged.

7. You can let ParaSwap move your SPACE permanently ( Unlock permanently ) on your behalf in the transaction, or you can Unlock this permission only in this transaction ( Unlock this time only ).

8. After selecting, a MetaMask window will pop up showing that you need to pay 0.001388 or HKD 0.01 to unlock, click "Confirm".

9. Unlocking Transaction Submitted is in progress, you can click "View Transaction in Explorer" to check the status of this transaction in Polygonscan.

10. When the word CONFIRMED appears, the unlocking is successful.

11. When you return to the trading country, you can see that 100 SPACE is exchanged for 0.177221 axlUSDC. This time the exchange is ready, press "Swap" to start the exchange!

12. The Review & Confirm screen appears to explain the transaction details again. You can tune your acceptable slippage rate ( Max Slippage Rate ) and transaction speed ( Transaction Sped ). Nothing special, I don't do it and press "Confirm Order".

13. The transaction is being processed, and the word PENDING appears. Similarly, you can click "View Transaction in Explorer" to check the status of this transaction in Polygonscan.

14. The word Confirm appears and the transaction is complete.

15. Looking at the transaction on Polygonscan, you can see that it has gone through a lot before it can be exchanged from SPACE to axlUSDC.

16. If the exchanged axlUSDC is not visible on your MetaMask. Go to the website of 5. Click the little fox head of Polygon axlUSDC to add it to MetaMask.

Transfer $axlUSDC to Osmosis at Satellite

17. Go to the Satellite website, click on the upper right corner to connect the wallet Osmosis and MetaMask.

18. Select Polygon's axlUSDC as the Source Chain and Osmosis as the Destination Chain. Click Autofill from Keplr to automatically fill in your Keplr wallet address. After completion, click "Initiate Transfer" to start the transfer.

19. Step 1. The system will display the Osmosis payment address, and create a disposable wallet address for this cross-chain use.

20. Step 2. After clicking MetaMask, a pop-up window will warn you that you can only send axlUSDC from Polygon to this disposable address, click "Confirm" to confirm.

21. Enter the amount of axlUSDC to be sent to Osmosis, and then press “Send” to send. Note that the bridge fee ( Fee ) is 1.5 axlUSDC.

22. Wait for the special to cross the bridge, which takes 3 to 5 minutes.

23. When Step 3 appears, the transaction is successful. Click the Polygonscan icon to view the details of the transaction.

24. Go to Assets at Osmosis Frontier and you will be able to see your axlUSDC. Then you can exchange for other coins, or even for LIKE.

No need to go through Curve Finance, isn't it very convenient? But Lishen, I did not research whether it is cheaper to exchange in this way than to go through Curve Finance. After all, Polygon is cheap, even if it is more or less cheap, haha.

In addition, in Step 2 of ParaSwap. I wonder if you have found WalletConnect, and then ParaSwap has $ATOM. Will you be able to directly use $SPACE to exchange $ATOM? I have not researched. Please challenge and let me know.