Getting Started
Welcome to funkybit! This guide provides step-by-step instructions on how to connect your wallet, manage borrowing operations, and participate in cross-chain asset management.
Connecting Your Wallet and Logging In
Step 1: Visit the funkybit web platform at https://app.f ybit.fun
Step 2: Click ‘Connect Wallet’ and authorize funkybit to access your funds for borrowing or cross-chain operations.
Step 3: Sign the EIP-712 login message to authenticate. funkybit operates in a fully permissionless manner, ensuring ease of access without traditional login credentials.
Borrowing Assets
Step 1: Navigate to the ‘Borrow’ tab within your dashboard.
Step 2: Select the asset you wish to borrow and the collateral to post (on Bitcoin L1).
Step 3: Confirm the borrowing request and authorize the transaction in your connected wallet. The collateral will be locked within funkybit’s native contracts.
Step 4: After confirmation, you can manage your borrowed assets within the funkybit dashboard.
Swapping
Step 1: After logging in, ensure you have selected the ‘Swap’ tab.
Step 2: Choose Assets: The asset to sell is at the top of the swap widget, and the asset to buy is at the bottom. Select your desired assets from the drop-downs.
Step 3: Deposit Sell Asset: Before you can swap, you need deposit the assets to sell from your connected wallet into funkybit. Simply click the ‘Deposit’ button at the top of the swap widget, specify the amount you wish to deposit and confirm the transaction in your wallet. The assets will then be credited to your on-chain funkybit balance once the blockchain confirms the transaction.
Step 4: Enter Amount: You can specify the amount you wish to swap in either the sell asset or the buy asset; the other amount will automatically adjust based on the current market conditions.
Step 5: Submit Swap: Click the Swap button and sign the EIP-712 swap request in your wallet. Your swap will then execute immediately and you will instantly see your updated balances.
Swapping with Limit Prices
Step 1: After logging in, ensure you have selected the ‘Limit’ tab.
Step 2: Choose Assets: The asset to sell is at the top of the limit widget, and the asset to buy is at the bottom. Select your desired assets from the drop-downs.
Step 3: Deposit Sell Asset: Before you can swap with a limit price, you need deposit the assets to sell from your connected wallet into funkybit. Simply click the ‘Deposit’ button at the top of the swap widget, specify the amount you wish to deposit and confirm the transaction in your wallet. The assets will then be credited to your on-chain funkybit balance once the blockchain confirms the transaction.
Step 4: Enter Amount: You can specify the amount you wish to swap in either the sell asset or the buy asset; the other amount will automatically adjust based on the current market conditions.
Step 5: Enter Limit Price: You can specify the limit price in units of either the buy asset or the sell asset; the other limit price will be calculated automatically. The ‘Market’, ‘1%’, and ‘5%’ buttons will automatically populate a limit price either at or away from the market, accordingly.
Step 5: Submit Swap: Click the Swap button and sign the EIP-712 swap request in your wallet. Your swap will then be submitted immediately. If your limit price is in the market, then you will receive at least a partial fill and the remainder of the order will stay on the book.
Depositing or Withdrawing Assets
Step 1: Select the ‘Balances’ widget within the dashboard.
Step 2: Choose the asset you wish to deposit or withdraw, click the appropriate button, and confirm the transaction.
Canceling Orders
Step 1: Select the ‘Dashboard’ tab
Step 2: Proceed to the ‘Orders and Trades’ widget and ensure the ‘Orders’ tab is selected.
Step 3: Confirm Transaction: Locate the order you want to cancel, click on the trash icon, and confirm the transaction in your wallet.
Trade Settlement
Batch Settlements: Following trade execution, trades are settled in the next batch. This process ensures efficient and secure transaction processing.
Using the API
Advanced users, including algorithmic traders or those participating in high-frequency borrowing, can use the funkybit API for batch submission of borrowing requests or cross-chain asset management operations.
Support and Help
Getting Help: If you encounter any issues or have questions, our support team is readily available. Visit the ‘Support’ section for FAQs or to contact our helpdesk.
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