If you’re diving into the world of cryptocurrency trading, Alcor Exchange offers a dynamic platform that allows you to trade tokens on the EOS.IO blockchain. Imagine being able to trade various assets without the need for a middleman. Sounds enticing, right? In this guide, we’ll walk you through the process of using Alcor Exchange, and sprinkle in some troubleshooting tips to keep your trading experience smooth.

What Sets Alcor Exchange Apart?

• Fully On-Chain Transactions
• Free CPU Program
• Open Source Code

Supported Chains

• EOS Mainnet
• WAX
• Telos
• Proton

Getting Started with Alcor Exchange

Trading on Alcor requires you to perform a few key actions—similar to how a chef prepares a dish by gathering ingredients and executing a recipe. Let’s break down the steps:

1. Open a New Market

To create a new market, you need to send 3.0000 EOS to the address eostokensdex with a specific memo format. Here’s how:

memo: new_market0.token_precision token_symbol@token_contract

Example: Use the memo new_market0.00000000 WEED@weedcashnt

2. Submitting an Order

Once your market is set, you can submit an order. This involves sending the amount you wish to sell, and detailing how much you expect to receive in the memo. Think of this step as setting your price at a farmer’s market:

memo: token_amount token_symbol@token_contract

Example: To transfer 0.7000 EOS to eostokensdex with the memo 1000.0000 TKT@eossanguotkt

3. Canceling an Order

If you need to cancel an order, it’s straightforward. It’s much like telling a waiter that you’ve changed your mind about a dish:

cancelsell or cancelbuy

With parameters:

• executor: return your own order
• market_id: identification of your order
• order_id: assigned number for quick reference

Example:
executor: avral.promarket_id: 32order_id: 3

Setting Up Alcor Exchange: A Technical Dive

Setting up the Alcor Exchange is akin to constructing a bridge—carefully consider each component to ensure everything connects seamlessly. Here’s how you can set it up:

Build Setup

• Install dependencies: Run yarn install
• Serving with hot reload: Use $ NETWORK=wax DISABLE_DB=true yarn dev
• Build for production: $ NETWORK=eosjunglelocal yarn run build, then start the server with $ yarn start

Docker Run

To use Docker, think of it as packing your tools in a toolbox for easy access:

docker run -d --restart=unless-stopped -p 127.0.0.1:27017:27017 --name mongo -m=3g mongo:4.4 --bind_ip 0.0.0.0

And a little more for connecting Alcor:

docker run -it -p 7002:7000 --restart=unless-stopped ...

Troubleshooting Tips

Even in the best organizations, hiccups occur. Here are some common issues you might encounter, along with how to resolve them:

• Issue: Transaction failed.
• Solution: Ensure that your memo format is correct, as per the guidelines provided.
• Issue: Unable to open a new market.
• Solution: Check if you’ve sent the correct amount of EOS to eostokensdex and that you adhered to the memo format.
• Issue: Orders not appearing.
• Solution: Refresh your browser or check the blockchain status to ensure it is not a network issue.

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Conclusion

At fxis.ai, we believe that such advancements are crucial for the future of AI, as they enable more comprehensive and effective solutions. Our team is continually exploring new methodologies to push the envelope in artificial intelligence, ensuring that our clients benefit from the latest technological innovations.