User Guide

If you need any support other than those described in this user guide, you can create support request.

SECURITY WARNING

Be wary of fake accounts that can introduce themself as BorsaDEX employee. BorsaDEX never requests the private key or recovery phrases of your wallets. Always be sure that your browser shows borsadex.com in the address bar.

FEE STRUCTURE

Trading Fees

Taker/maker trading fee is 0,1%(0.001) and trading fee is charged in the quote token. e.g; If the order pair is TOMO/USDT, the transaction fee is collected from USDT. The cancellation fee is 0.01% (0.0001). Fees will be charged at the time the order is matched/filled.

TomoBridge

There is no charge for wrap operations. Unwrap transaction fee rates are as follows:

BTC: 0.0004 BTC
ETH: 0.003 ETH
USDT: 0.097 USDT
YFI: 0,001 YFI
FTT: 0,3 FTT
DXD: 0.01 DXD
SRM: 1.1 SRM
DEC: 10 DEC
HY: 5 HY

P2P Lending

Lender: Free
Borrower: 0.5% of the total loan amount payable in the lending token.
Example: If a user wants to borrow 1,000 USDT, he will be charged a service fee of 0.5% * 1,000 = 5 USDT.

Cancellation
Lender: 0.05% of the total loan amount payable in the lending token.
Borrower: 0.05% of the total loan amount payable in the collateralized asset.

TOPICS

1. OWNING A TOMO WALLET
    1.1 TomoWallet Web
    1.2 TomoWallet Mobile
2. LOGIN TO BORSADEX
    2.1 Web Version
    2.2 Mobile Version
3. TOMOBRIDGE
4. P2P LENDING

1. OWNING A TOMO WALLET

TomoWallet is client-side interface helping you interact with TomoChain. You need a TOMO wallet address to use BorsaDEX. You can use the web version to get a TOMO wallet or install the TomoWallet application on your iOS or Android device.

1.1 Web Wallet

To create a wallet, go to https://wallet.tomochain.com. Click the [Create A New Wallet] button. To learn your 12 recovery words, press the [Next to Recovery Phrase] button and write the words down in a safe place.

You can also save your recovery phrases as a json-type file with the [Save as Keystore] option. With this option, you will also need to set a separate password for the file, so do not forget this password. You can also view your private key with [View My Private Key].

After writing down your recovery prhrases, press the [I Wrote My Recovery Phrases] button and select your recovery words by clicking and then click the [Verify] button. Then press the [Access To My Wallet] button to access your wallet.

1.2 Mobile Wallet

Download the TomoWallet app on your iOS or Android device. Open the app. Click [Create A New Wallet] button. Read the "Protect Your Wallet" titled text and click [Back Up My Account] button. (You can skip it but we highly recommend you to back up your wallet.)

After clicking [Back Up My Account], click [Continue] button and write the words down in a safe place and confirm them by writing into TomoWallet app. When you confirm the words, your wallet will be ready to use.

2. LOGIN TO BORSADEX

There is no registration on BorsaDEX; you can start using BorsaDEX by connecting your TOMO wallet to BorsaDEX. You can use BorsaDEX with your mobile or desktop device if you wish.

2.1 Web Version

To use BorsaDEX from your desktop, go to market.borsadex.com/unlock and unlock your TOMO wallet. We recommend Pantograph (which is support TomoChain 100%). If you will use MetaMask don't forget to change your network to TomoChain.

2.2 Mobile Version

You can use BorsaDEX with iOS or Android TomoWallet application. Open Dapp Browser from the Utilites section of the app and go to borsadex.com by typing in the address bar.

In order not to waste time by entering the Dapp Browser every time and writing the link in the address bar; After going to the borsadex.com page, press the bookmark button from the left of the address bar and make it yellow.

In this way, you will add BorsaDEX to the bottom of the TomoWallet main screen.

You can start using BorsaDEX by pressing GO EXCHANGE button from home page.



3. TOMOBRIDGE

*You can wrap / unwrap your crypto coins as ORIGINAL <-> TRC21 Tken without using TomoBridge from the Portfolio section of BorsaDEX desktop version or the Funds section of mobile version.

TomoBridge allow other Blockchain tokens to be used inside the TomoChain network via a cross- chain swapping bridge.

A Wrapped Token is a TRC21 token hosted on the TomoChain public blockchain, issued by TomoBridge Pte. Ltd. and backed by an equal amount of the underlying asset or currency. TRC21 Wrapped BTC, for instance, is a token worth the same as one BTC at any given moment.

The reason you need TRC21 Wrapped Token is to be able to trade other platform's native token like BTC or ETH on decentralized exchange like BorsaDEX. Because decentralized platforms running on TomoX use smart contracts to execute trades directly between traders and they need to have the same token standard.

Non-local assets (such as BTC, ETH) in TomoChain; when they are moved to the network using the TRC21 token standard, the transaction fees of these cryptocurrencies are paid with the token itself; so you don't have to have TOMO for transactions.

TRC21 Wrapped Token stays in your wallet throughout trading, and can be converted back and forth between the native asset and TRC21 Wrapped Tokens at anytime via TomoBridge. So it's almost like trading native assets directly. The proof of reserve is on-chain, which shows the exact 1:1 between minted TRC21 Wrapped Tokens (the TRC21 Wrapped Tokens created) and native assets stored by TomoBridge. When TRC21 Wrapped Token holders redeem their TRC21 Wrapped Tokens for native assets, the TRC21 Wrapped Tokens will be burned. The minting and burning of TRC21 Wrapped Tokens is tracked and verifiable via smart contract on TomoScan.  [CHECK SMART CONTRACT AND WALLET ADDRESSES]

4. P2P LENDING

Our P2P lending is a service to help match cryptocurrency lenders with borrowers without the participation of financial intermediaries. Collateralized assets are stored safely in smart contracts secured by the TomoX protocol. BorsaDEX allows users to set their own interest rates and terms. You can deposit the following crypto assets: BTC, ETH, TOMO as collateral via TomoBridge. Support for other major cryptocurrencies are coming later.

Easy To Use

Receiving a loan is seamless and completed in a few clicks. Simply select the type of asset to borrow, the basic repayment terms.and asset used as collateral.

Customizable Interest Rates

Automatically matches borrowers and lenders based on asset and interest rate preference.

Safety for Lenders and Borrowers

P2P Lending mitigates risks for lenders by setting higher collateral requirements, maintaining proper liquidation buffers, and frequent updates on market price data. Furthermore, highly advanced features such as auto-topup help borrowers secure their collaterals in edge cases when the value of the collaterals drops.

Service Fee

Lender: Free
Borrower: 0.5% of the total loan amount payable in the lending token
For example: If a user wants to borrow 1,000 USDT, he will be charged a service fee of 0.5% * 1,000 = 5 USDT.

Cancellation Fee

Lender: 0.05% of the total loan amount payable in the lending token
Borrower: 0.05% of the total loan amount payable in the collateralized asset

Collateral Deposit Rate

150% of the total loan value.
For example: If a user wants to borrow 1,000 USDT against BTC and the BTC price is 7,500 USDT, the user must deposit = 1,000 * 150% / 7,500 = 0.2 BTC

Collateral Release Condition

- The collateral for the loan will be released to the Borrower's address if the loan is closed.
- The collateral for the loan will be released to the Lender's address if the loan is liquidated.
- Collateral will be released at the time the loan is liquidated or closed.

If the price of the collateral is NOT set in the smart contract, it will be equal to the TomoX average price of all the trades (price * amount) in the previous epoch (called market price) by the following formula:


P: Price | V: Volume | Pn,Vn: Price and Volume of trade #n

Liquidation

Liquidation Rate: 110% of the total loan amount.
This means that the collateral will be automatically liquidated and released to the Lender's Address if its market value falls to 110% of the loan value.
Market value of a collateral = Market price of the collateralized asset * Quantity of the collateralized asset

Interest

In addition to repaying the principal/original amount borrowed, the Borrower has to pay interest to the Lender. The interest is calculated as follows:

I = F ∗ R ∗ T/365

I: Interest
F: The original amount borrowed
T: Term (days) (e.g. 1 days, 14 days, 30 days …)
R: Annual interest rate

Prepayment

Prepayment is the early repayment of a loan by the Borrower. No partial repayment is allowed.

If the Borrower decides to pay off the loan early, aside from the normal interest he has to pay until that point, he will be charged a prepayment penalty (which is equal to half of the interest he would have had to pay from that point till the maturity date). The prepayment interest is calculated as follows:



I: Interest
F: The original loan amount
T: Term (days) (1 days, 30 days …)
T1: The number of days borrowed.
R: Annual Interest rate

Top-Up

Auto Top-Up

By default, BorsaDEX will automatically top up your collateral if the market value of the collateral falls to the liquidation value. The amount of the Top-Up will be calculated by the following formula below to make sure the new liquidation price is equal to 90% of the liquidation price.

A: Amount the collateral required for the Top Up
LA: Current locked amount of the collateral
MP: (Matched price) The price of the collateral at the time that the order is matched
CP: (Current price) The current price of the collateral

Auto Renew: Not supported

Repay: The Borrower has to repay the value of the loan and the interest of the loan to the Lender before the due date.

Auto Repay:
By default, if the Borrower has enough balance of the borrowed asset, TomoX will automatically repay the loan on the due date.