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Depth OTC Tutorial
Swap tokens with 0 Slippage

I. Tutorial Overview

This is the tutorial provided by the Depth community. In this tutorial, you will learn the main process and matters needing attention when using Depth OTC.
Depth is a secure and efficient stable assets management protocol based on HECO. Depth allows stablecoins to swap in a safe and secure environment with good depth, low slippage, and low transaction fees. Depth has delicately selected multiple yield aggregators for users. Besides the transaction fees, Depth also integrated other DeFi yield protocols on HECO, providing users long-term extra rewards in a safe condition.
Depth OTC is the OTC service developed by Depth.

II. Depth OTC Tutorial

1. Download/Set up HECO Wallet

HECO Wallet Tutorial:https://docs.depth.fi/tutorial/wallet

2. Log in and Connect the Wallet:

PC Access

Visit https://www.depth.fi using the browser with a MetaMask wallet.
Switch the network to HECO Mainnet on MetaMask wallet. Then click 【Connect Wallet】on the up right corner.

APP Access

Depth Has Been Supported By:
Direcly vist depth.fi or click the DApp logo of Depth in the wallet.

3. Visit Depth OTC

Click OTC to visit the OTC page.
Depth OTC includes several sections:OTC Trading/My Orders/My Transactions

4. Make Orders or Take Orders

Under the OTC Trading section, users can search for an existing order and take it. The user who took an order is called a taker.
Takers have to pay a 0.3% transaction fee when using Depth OTC to swap. For xDEP holders who have staked DEP into the Depth DAO pool, there will be a tiered rate discount in the future. Makers will take 2/3 transaction fees as rebates, which is 0.2% of the swapped assets.
If you couldn't find an expected order, you can post an advertisement, which is "make an order". The user who made the order is called a maker.

5. How to Take Orders

Users can choose to BUY assets or SELL according to their needs. For now, under each tag, there are two types of assets supported, that is DEP and PTD.
And there are two fill options supported, that is Full Fill or Partial Fill. Full Fill means takers need to buy or sell the appointed assets in one order all by once. Partial Fill means takers can buy or sell part of the appointed assets in one order.
Users can also select the orders by Amount or sort orders by Amount, Unit Price, or Expiration Time.
Under the 【BUY】tag, users can take an order by clicking the Buy XXX button.
Under the 【SELL】tag, users can take an order by clicking the Sell XXX button.
Check the information. For Partial Fill, put in the total price or the amount you want to take. Then click Place Order to take the order eventually.
Approve and Confirm the transaction in the wallet to complete the transaction.

6. How to Make Orders

(1)Start an Order
    Click Start an Order, and then click BUY or SELL
    Select the asset type (DEP or PTD) you want to buy or sell.
    Put in the amount of assets you want to buy or sell.
    The default unit price will be the reference price and users can change it according to their needs. The total price will be calculated by the system automatically. The reference price is taken from the MDEX real-time quotation.
    Expiration Time:Users can put in an expected expiration time. If the order has not been taken in the expiration time, it will automatically terminate.
    Order Type:Click Advance to further set up the order type and appointed address. The default order type is Partial Fill. Partial Fill means takers can buy or sell part of the appointed assets in one order. Makers can select Full Fill Only. Full Fill means takers need to buy or sell the appointed assets in one order all by once.
    Appoint Address: If users want to trade with an appointed address, click Advance and put the address there.
    Start an Order: After putting in the all information, click Start an Order and confirm in the wallet.
(2)Wait for Takers and Check the order
After completing the transaction, you can check it on the blockchain or on the My Transaction page. You can also check if you have received the asset in your wallet.

III. Risk Reminder

Depth is a non-custodial stablecoin swap DeFi protocol. Due to the characteristics of DeFi and crypto assets, using Depth may have the following risks:
    Depth's own smart contract has a bug or is attacked.
    Permanent loss caused by the decoupling of a certain stablecoin.
    Risks of other related protocols.
As users of DeFi protocols, please do not underestimate the risks associated with providing liquidity to Depth or other DeFi protocols. Even though there has been a long period of operation and testing, as well as continuous technological advancement, the existance of risks cannot be denied.
Last modified 1mo ago