Question 1

DeversiFi: Learn how OTC trading works

Accepted Answer

Learn how OTC trading works

The new OTC feature now available on DeversiFi unlocks a whole new way to trade tokens while giving you additional flexibility when working with the exchange.

Orders created via DeversiFi OTC have the advantage of not being shared on the regular exchange orderbook. DeversiFi OTC generates a unique “taker” URL that can be shared with your trading partner, allowing them to become the exclusive taker of your trade.

The feature allows you to swap any ERC-20 compliant token, including those which are not currently listed on DeversiFi with fees being as low as 0.02 %.

We’ve kept the process simple:

Select the token you would like to deposit and its amount.
Specify which token you would like to receive and its amount as well.
Token then gets locked into the trade and a unique URL gets generated.
Share this URL with your trade partner.
Once your trading partner accepts the trade, the order gets settled and you receive the tokens you’ve specified when setting up the trade, while your partner receives the token you’ve locked in.

You can cancel the order and unlock your tokens anytime before the order gets executed

DeversiFi OTC is a valuable tool for those looking to swap larger amounts of tokens in a single trade. Executing such a trade on a regular exchange could cause a big swing in the ticker price, potentially costing the user a significant amount of money, not to mention the possibility

Question 2

DeversiFi Trading Key Storage

Accepted Answer

DeversiFi Trading Key (DTK)

As STARKs use a different signature scheme to the Ethereum blockchain, a STARK keypair needs to be generated, which allows for the interaction with the StarkWare high speed settlement system.Every time a DeversiFi trader submits an order to the exchange, or makes a deposit/withdrawal they are cryptographically signing a message using their Ethereum wallet private key that instructs their DeversiFi trading key on the required action. This is a process that is common to all self-custodial layer-2 exchanges that use zero-knowledge cryptography (STARKs, SNARKs etc).

When you register your Ethereum address with DeversiFi for the first time (the registration transaction) a DeversiFi trading key is generated behind the scenes in a trustless manner and is associated with your Ethereum address. You can think of your DeversiFi trading key as similar to an API key on a centralised exchange.

From January 2021 onwards it it no longer necessary for you to make a local copy backup of your DeversiFi trading key. DeversiFi now encrypts your DTK using your Ethereum signature and stores it encrypted on DeversiFi servers. This means that you do not need to worry about keeping backups of your DTK and can simply connect to the Exchange using Metamask or Ledger as normal.

Question 3

DeversiFi: Withdrawing Tokens

Accepted Answer

Withdrawing Tokens

Withdrawing Tokens From DeversiFi

DeversiFi settles zero-knowledge cryptographic proofs of DeversiFi trading activity once per day The maximum time that you will need to wait for a withdrawal is 24 hours. Until your withdraw is ready for you to send back to your on-chain/Layer-1 wallet, the withdraw will display as 'Pending'

Shortly, a new 'fast withdrawal' system will be operational where you will be able to withdraw your ETH, USDt and wBTC funds immediately from DeversiFi

The countdown timer on app.deversifi.com will shortly be removed

Background

DeversiFi uses a type of cryptography called STARKs to prove and verify trading activity on DeversiFi in a trustless manner. This means that trading on DeversiFi is self-custodial. DeversiFi cannot take possession of customer funds and in the unlikely scenario where DeversiFi were to go offline, traders can activate an ‘escape hatch’ via the Data Availability Committee to retrieve their funds.

Trades are signed and submitted off-chain, allowing traders’ off-chain balances to be updated instantaneously after each trade. When enough time has passed, a proof of the new DeversiFi state balance is submitted for settlement on the Ethereum blockchain and is verified by the Data Availability Committee as well as the StawkWare smart contract.

This batching process has some distinct advantages.

Question 4

DeversiFi: Unlocking Legacy Tokens

Accepted Answer

Unlocking Legacy Tokens

Legacy Wrappers

From time to time, due to a variety of factors from site protection to upgrades, we need to update our contracts. While extremely rare, this would mean users may have funds in legacy contracts.

To access legacy balances for further trading, users are required to unlock them from these legacy wrappers and re-lock them in the live version.

The process involves interacting with the legacy wrapper via Etherscan in order to unlock your tokens:

**Please note that it is possible to interact with the legacy wrappers via other site like myetherwallet, but this tutorial will focus on the unlocking method via Etherscan

Requirements:

A browser with Metamask installed. (If using a Hardware wallet, you'd need to first install Metamask, and then Connect your hardware wallet to Metamask)
Link to the legacy wrapper contract. Please find below the links to each of the contracts:

LEGACY CONTRACT 1

MKRW - 0x38ae374ecf4db50b0ff37125b591a04997106a32
ETHW - 0xaA7427D8f17D87a28F5e1ba3aDBB270bAdbe1011
BATW - 0xe82cfc4713598dc7244368cf5aca1b102a04ce33
NIOW - [0x680bf2eebf0ad9b183ac2ff88d16f5a4e41480e9](https

Question 5

DeversiFi: Nectar Token FAQ

Accepted Answer

Nectar Token FAQ

Can I buy/sell Nectar (NEC) tokens?

Nectar tokens are available for trading on an open market, in a similar manner to all other ERC20 tokens trading on DeversiFi.

For more information on how to buy and sell Nectar, please refer to our guides on how to connect and deposit tokens on DeversiFi

Where Can I find out More About Nectar?

More information about Nectar is available at the Nectar Community Website www.nectar.community including:

NEC Whitepaper 2.0
necDAO reputation claim and participation

Is the Nectar token an ERC20 token?

The Nectar token is an Ethereum ERC20 token (see here). This means that it will be possible to view the tokens and transfer them to and from any Ethereum based wallet or application which has support for ERC20.

What is the total & circulating supply of Nectar?

Total and circulating supply details can be found here

Can US individuals trade Nectar tokens?

US individuals are unfortunately not able to trade Nectar (NEC).

When was the final NEC distribution:

The final NEC distribution took place on the 9th of August, 2019.

Question 6

DeversiFi: Connect Using Keystore

Accepted Answer

Connect Using Keystore

Connecting using Keystore is one of the quickest and easiest methods to get started on DeversiFi. Your Keystore wallet is an Ethereum wallet that lives in your browser, allowing you to store and manage your wallet keys directly from your own device without having to entrust a third-party provider.

You can generate a new Keystore wallet, or import an existing Keystore wallet by uploading an encrypted JSON file that contains your private key

Once you have created or imported a Keystore wallet, you need to transfer your ERC20 tokens to the keystore wallet before you can deposit them to DeversiFi.

1) Generate or import Keystore wallet (this article)

2) Transfer your ERC20 tokens to your Keystore wallet

3) Register (one time only) and Deposit tokens to DeversiFi from your Keystore wallet

1) Navigate to the Connect via Keystore Option?

In the top right hand corner of https://app.deversifi.com/ click either 'Onboarding' or 'Change Wallet'

Select the 'Keystore/Local' option

2) Generate or Import A Keystore Wallet

When you visit the Keystore section of on-boarding for the first time, a new Keystore wallet will automatically be generated for you. You can use this Keystore wallet, o

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