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Quick Start Guide to Polarity
What is Polarity?
polarity.exchange is a decentralised (DEX) cryptocurrency exchange that uses a different approach to the majority of other exchanges by offering users the additional security of being in control of their funds at all times.
Orders are managed centrally using a service called a ‘Matcher’ but trades are carried out on-chain allowing the user to maintain ‘sole control’ over their money at all times.
It is built using Waves code and is built on the Turtle network. All coins deposited to the platform are wrapped in order to perform trades more efficiently and avoid having to wait for native confirmation times for different coins. Users are free and unrestricted from wrapping to and from the platform.
What trading pairs do they have?
They use the US Dollar as the trading base pair rather than the more commonly used BTC to give traders more certainty with their portfolio value rather than trading between two volatile assets.
Haven has a suite of options including xUSD/USDT, XHV/USDT and XHV/xUSD giving further flexibility to Haven users. It is the first exchange to allow direct ‘off/on shoring’ outside of the Haven vault and without the additional lock times.
With the xUSD/USDT pair Polarity has the first ever option to trade between a public and a private stablecoin.
Setting up an account
All you need to set up a Polarity account is an email account. No other personal information is required.
You have the choice of 2 different account types: Polarity and Local.
- Local Account
These are a type of limited account in which you are directly accessing the blockchain exchange by seed or private key without participating in the Polarity security suite that forms part of the full featured Polarity account.
- Polarity Account
These accounts offer the full suite of security and UX benefits:
- 2FA-OTP Account verification
- Encrypted Seed vault (aes-256)
- Manage multiple accounts
- Multi-factor authentication smart contract
- Profit and loss tracking
During the account creation you will be given a seed and will also need to create a Master key that is used to login to your vault.
IMPORTANT: You should record your seed and master key and store them somewhere safe as they are the only way to gain access to your account. Seed generation is a local, user engaged event, as such Polarity NEVER has access to your seed / private keys.
- Click on the account type you have set up. You will then be directed to your wallet overview.
- Once a wallet has been created select the wallet you wish to access.
- You will then be asked to enter your master key to complete the login process.
Once you have opened a wallet you then have a range of options accessed through the menu indicated by 3 lines on the top right hand side.
- Exchange- Gives access to the exchange interface where you can set orders, view liquidity and use trading charts etc
- Wallet- Shows an overview (dashboard) of your account, portfolio shows the balances available in your wallet and transactions gives you an exportable tx history
- DAPPs- Live DAPPs on the Turtle network.
- Leaderboard (beta)- Gives a leaderboard of trading addresses and profit/loss performance.
- Deposit- Use this to deposit coins to your Polarity wallet. It uses a temporary address that gets generated every time you deposit. You can view the ongoing status of deposits by going to the transactions tab (in the Wallet tab). Note that you may not see deposits show up until there’s been several confirmations on the chain.
- Withdraw- You can withdraw to an external wallet address using this tab. Make sure to double check the wallet address as any mistakes cannot be rectified. Haven Protocol’s assets including XHV and xUSD will all use an address starting with hvx….or hvs (for subaddresses)
- FAQ- Contains the most commonly asked questions to take a deeper dive into how Polarity works.
- Fees- Maker/taker, deposit and withdrawal fees for all listed coins.
- Polarity.Vault- Takes you to your main vault screen that contains your wallets.
To deposit coins follow these simple steps:
- Select the coin to be deposited
- Complete the anti-bot captcha
- Click the yellow box to generate the temporary deposit address
- There are minimum and maximum deposit amounts so be sure to check otherwise you may lose your deposit.
- Current deposit limits for Haven assets are:
- XHV- min is 0.03 XHV and max is 5000 XHV
- xUSD- min is 0.01 xUSD and max is 10000 xUSD.
- The temporary address is valid for 7 days. Any longer and you will need to generate a new address.
- Deposits require a number of native token confirmations before being wrapped. This will vary depending on the token being deposited.
Follow these steps to withdraw to an external Haven Protocol wallet address:
- Confirm you are not a bot by completing the captcha.
- Paste your Haven address into the relevant box. Double check the address is correct as mistakes cannot be rectified after the coins have been sent.
- The minimum withdrawal amount is only 0.03 XHV.
- The withdrawal time is based on 10 blocks of the Turtle network (~5-10 mins total) before the native token is sent to the receiving address.
Go to the Exchange tab and select the trading pair you wish to use. Haven Protocol has xUSD/USDT, XHV/USDT and XHV/xUSD trading pairs available.
You can set limit orders or just buy at market price depending on your needs.
You can read up further on Polarity using the following links:
Introduction to Polarity exchange on Medium here
or via email at [email protected]