[deprecated]AdEx Tutorial: Depositing ADX Tokens to the AdEx Exchange
In order to place a bid, you need to have a sufficient amount of ADX tokens in your Advertiser exchange account. Start by transferring the…
In order to place a bid, you need to have a sufficient amount of ADX tokens in your Advertiser exchange account. Start by transferring the tokens to the exchange.
Adding ADX tokens to your Advertiser account
We assume that you already have ADX tokens in your Metamask account. If you don’t, you can acquire them on a number of different exchanges (here is a list).
Now follow these steps to add the tokens.
Step 1: Go to your Advertiser dashboard, then click on “Account” in the lower left corner.
Step 2: Click on the green button that says “Deposit ADX to Exchange”. “Exchange” here refers to the AdEx smart contract.
Step 3: Enter the amount of ADX tokens you would like to deposit, then click “Continue”.
Step 4: On the next screen, click “Sign and deposit”.
You will see a message explaining that you will have to sign the transaction twice or three times. There is no reason to be alarmed!
This is required due to the specifics of ERC-20 standard tokens (ADX is an ERC-20 token). In order to transfer the the tokens to the AdEx Exchange, you need to authorize payments to to it — and this is carried out by signing the so-called allowance.
The default setting for the allowance is 0 — and if you haven’t manually set it to a different value through your wallet for example, you will have to sign twice: once to authorize the payment (i.e.set the new allowance, or the amount of tokens you want to transfer), and a second time to make the deposit.
In case you have manually changed the allowance setting, you’ll be required to sign 3 times: one time to set the allowance back to 0, a second time to authorize the payment, and a third time to make the deposit.
This is done in the background for you. All you have to do is sign 2 or 3 times in Metamask.
Authorize the transfer twice (ot 3 times, if you’ve changed the allowance value manually).
When you’re ready, the deposit will appear in the “Transactions” section of your account. Depending on the gas price you’ve paid, it may take a while before the transaction goes from “Pending” to a “Success” status.
Once the transaction is completed, the tokens will show in your Exchange balance.
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