What's a DEX? A DEX (Decentralized Exchange) is like a stock market, but for digital currencies. Instead of calling a broker or using a centralized platform, you trade directly with other users through smart contracts. It's faster, cheaper, and you maintain complete control of your funds. [Access the ZKP DEX](https://dex.testnet.zkp.com) ## Get Free Trading Coins Why We Give [[ZKP/ZKP Testnet/Getting Started/Claim Test Coins|Free Coins]]: We want everyone to experience real trading without any financial risk. Our faucet gives you multiple types of coins so you can practice trading different pairs and strategies. **Available (test) Coins:** - ZKP - Our native coin - USDT - Stable coin pegged to the US Dollar - ETH - Testnet version of Ethereum - BTC - Testnet version of Bitcoin **How to Get Coins** 1.[ Visit our faucet website](https://dex.testnet.zkp.com) 1. Connect your wallet 2. Click "Request Coins" to obtain test ZKP Coins 3. Coins appear in your wallet instantly! ### Coin Swapping Made Easy **What Is Coin Swapping?** Imagine you have Japanese Yen but need US Dollars. Coin swapping is the same concept - you exchange one type of digital currency for another at current market rates. **How Our Swap Works:** 1. Choose Your Trade: Select what you want to trade (e.g., ZKP for USDT) 2. Enter Amount: Type how much you want to swap 3. See Your Rate: We show you exactly how much you'll receive 4. Confirm Trade: Click swap and the trade happens instantly! **Smart Features That Protect You:** - Price Protection: Set how much price movement you're comfortable with - Impact Warnings: We warn you if your trade will significantly affect the price - Best Rates: Our system automatically finds the best possible exchange rate - Instant Execution: Trades complete in seconds, not minutes **Real-World Example:** Let's say you have 100 ZKP coins and want USDT: 1. You enter "100 ZKP" in the swap interface 2. The system shows "You'll receive approximately 250 USDT" 3. You confirm, and within seconds you have 250 USDT in your wallet 4. Your 100 tZKP is gone, replaced by the USDT ### Become a Liquidity Provider (Earn While You Help!) What Is Liquidity Providing? Think of it like being a market maker. You provide coins that other people can trade against, and in return, you earn a small fee from every trade. It's like earning interest, but potentially much higher! **Adding Liquidity - Step by Step:** What You're Actually Doing: When you add liquidity, you're putting your coins into a shared pool that enables other people to trade. In return, you get a share of the trading fees. **How to Add Liquidity:** 1. Choose a Trading Pair: For example, ZKP/USDT 2. Deposit Both Coins: You need equal values of both (e.g., $100 worth of ZKP + $100 worth of USDT) 3. Receive LP Coins: You get special "liquidity provider" coins that represent your share 4. Earn Fees: Every time someone trades, you earn a small percentage **Real Example:** - You deposit 50 ZKP + 125 USDT (equal values) - You receive LP coins representing your 0.5% share of the pool - When traders pay 0.3% fees, you earn 0.3% × 0.5% = your portion of those fees - Over time, these fees can add up to significant earnings! **Removing Liquidity:** When You Want Your Money Back: You can withdraw your liquidity anytime - there's no lock-up period. **How It Works:** 1. Choose Amount: Decide what percentage to withdraw (25%, 50%, 100%, etc.) 2. Burn LP Coins: Your LP coins are destroyed 3. Receive Your Share: Get back your portion of both coins in the pool 4. Collect Fees: All accumulated trading fees come with your withdrawal **Important to Understand:** - You might get back different amounts than you put in (this is normal!) - If one coin goes up a lot, you'll have less of it (but more of the other) - The fees you earned often make up for any differences - This is completely normal in liquidity providing See also: [[Why it matters]]