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Finish trade in the DEX tutorial draft
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mDuo13
@@ -1,6 +1,7 @@
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---
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parent: use-tokens.html
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blurb: Buy or sell fungible tokens for each other or for XRP in the decentralized exchange.
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embed_xrpl_js: true
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filters:
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- interactive_steps
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- include_code
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@@ -14,41 +15,33 @@ This tutorial demonstrates how you can buy and sell tokens in the [decentralized
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## Prerequisites
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<!-- Source for this specific tutorial's interactive bits: -->
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<script type="application/javascript" src="assets/js/tutorials/dex-trade.js"></script>
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<script src='https://cdn.jsdelivr.net/npm/bignumber.js@9.0.2/bignumber.min.js'></script>
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<script type="application/javascript" src="assets/js/tutorials/trade-in-the-dex.js"></script>
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This page provides JavaScript examples that use the [xrpl.js](https://js.xrpl.org/) library. See [Get Started Using JavaScript](get-started-using-javascript.html) for setup instructions.
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Since JavaScript works in the web browser, you can read along and use the interactive steps without any setup.
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## Steps
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{% set n = cycler(* range(1,99)) %}
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This tutorial demonstrates how to conduct two trades: first, buying a token by selling XRP; then, selling that token to buy a different token. The two test tokens used in this tutorial are:
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This tutorial demonstrates how to buy a fungible token in the decentralized exchange by selling XRP. (Other types of trades are possible, but selling a token, for example, requires you to have it first.) The example token used in this tutorial is as follows:
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| Currency Code | Issuer | Notes |
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|---|---|---|
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| TST | rP9jPyP5kyvFRb6ZiRghAGw5u8SGAmU4bd | A test token with a [`TickSize` setting](ticksize.html) of 5, pegged to XRP at a rate of 10 XRP per 1 TST. |
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| TS2 | ***TODO: TS2 issuer setup*** | A test token with a 2% [transfer fee](transfer-fees.html). |
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### {{n.next()}}. Get Credentials
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To transact on the XRP Ledger, you need an address and secret key, and some XRP. For development purposes, you can get these on the [{{use_network}}](parallel-networks.html) using the following interface:
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{% include '_snippets/interactive-tutorials/generate-step.md' %}
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When you're [building production-ready software](production-readiness.html), you should use an existing account, and manage your keys using a [secure signing configuration](set-up-secure-signing.html).
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| TST | rP9jPyP5kyvFRb6ZiRghAGw5u8SGAmU4bd | A test token pegged to XRP at a rate of approximately 10 XRP per 1 TST. The issuer has existing Offers on the XRP Ledger Testnet to buy and sell these tokens for |
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### {{n.next()}}. Connect to Network
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You must be connected to the network to submit transactions to it. The following code shows how to connect to a public XRP Ledger Testnet server a supported [client library](client-libraries.html):
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You must be connected to the network to submit transactions to it. Additionally, some languages (including JavaScript) require a high-precision number library for performing calculations on currency amounts you may encounter in the ledger. The following code shows how to connect to a public XRP Ledger Testnet server a supported [client library](client-libraries.html) with the appropriate dependencies.
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<!-- MULTICODE_BLOCK_START -->
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_JavaScript_
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{{ include_code("_code-samples/get-started/js/base.js", language="js") }}
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{{ include_code("_code-samples/trade-in-the-decentralized-exchange/js/base-with-bignumber.js", language="js") }}
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<!-- MULTICODE_BLOCK_END -->
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@@ -58,28 +51,49 @@ For this tutorial, click the following button to connect:
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{% include '_snippets/interactive-tutorials/connect-step.md' %}
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### {{n.next()}}. Get Credentials
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To transact on the XRP Ledger, you need an address and secret key, and some XRP. For development purposes, you can get these on the [{{use_network}}](parallel-networks.html) using the following interface:
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{% include '_snippets/interactive-tutorials/generate-step.md' %}
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When you're [building production-ready software](production-readiness.html), you should use an existing account, and manage your keys using a [secure signing configuration](set-up-secure-signing.html). The following code shows how to instantiate a class with the wallet instance:
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<!-- MULTICODE_BLOCK_START -->
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_JavaScript_
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{{ include_code("_code-samples/trade-in-the-decentralized-exchange/js/trade-in-the-dex.js", language="js", start_with="// Get credentials", end_before="// Define the proposed trade") }}
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<!-- MULTICODE_BLOCK_END -->
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### {{n.next()}}. Look Up Offers
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Before you buy or sell a token, you usually want to look up what others are buying and selling for, to get a sense of how others value it. In the XRP Ledger, you can look up existing offers for any currency pair using the [book_offers method][].
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***TODO: interactive block, code samples, explanation of results***
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**Tip:** Technically, this step is not a requirement for placing an Offer, but it is a good practice to confirm the current situation before trading anything with real value.
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### {{n.next()}}. Send OfferCreate Transaction
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The following code shows how to look up existing Offers and compare them to a proposed Offer to estimate how it would execute:
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To actually make a trade, send an [OfferCreate transaction][]. In this case, you want to buy TST using XRP, so you should set the parameters as follows:
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<!-- MULTICODE_BLOCK_START -->
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| Field | Type | Description |
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|---|---|---|
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| `TakerPays` | [Token Amount object](#specifying-currency-amounts) | How much of what currency you want to buy, in total. For this tutorial, buy some amount of **TST** issued by `rP9jPyP5kyvFRb6ZiRghAGw5u8SGAmU4bd`. |
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| `TakerGets` | [XRP, in drops][] | How much of what currency you are offering to pay in total. For this tutorial, you should offer approximately slightly over 10 XRP per TST. |
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_JavaScript_
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{{ start_step("Send OfferCreate") }}
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{{ include_code("_code-samples/trade-in-the-decentralized-exchange/js/trade-in-the-dex.js", language="js", start_with="// Define the proposed trade", end_before="// Send OfferCreate") }}
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<!-- MULTICODE_BLOCK_END -->
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**Note:** Other users of the XRP Ledger can also make trades at any time, so this is only an estimate of what would happen if nothing else changes. The outcome of a transaction is not guaranteed until it is [final](finality-of-results.html).
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The following block demonstrates these calculations in action:
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{{ start_step("Look Up Offers") }}
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<form>
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<div class="row"><h5>TakerPays</h5></div>
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<h5>TakerPays</h5>
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<div class="form-group row">
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<label for="taker-pays-currency-1" class="col-form-label col-sm-3">currency</label>
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<div class="input-group col">
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<input type="text" class="form-control" id="taker-pays-currency-1" value="FOO" disabled="disabled" />
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<input type="text" class="form-control" id="taker-pays-currency-1" value="TST" disabled="disabled" />
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</div>
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</div>
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<div class="form-group row">
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@@ -94,7 +108,7 @@ To actually make a trade, send an [OfferCreate transaction][]. In this case, you
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<input type="number" class="form-control" id="taker-pays-amount-1" value="10" step="0.000001" min="0" max="1000" />
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</div>
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</div>
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<div class="row"><h5>TakerGets</h5></div>
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<h5>TakerGets</h5>
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<div class="form-group row">
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<label for="taker-gets-amount-1" class="col-form-label col-sm-3">XRP:</label>
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<div class="input-group col">
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@@ -103,14 +117,41 @@ To actually make a trade, send an [OfferCreate transaction][]. In this case, you
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min=".000001" max="100000000000" step="any" />
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</div>
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</div>
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<div class="row"><h5>Exchange Rate</h5></div>
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<h5>Exchange Rate</h5>
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<div class="form-group row">
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<label for="taker-gets-amount-1" class="col-form-label col-sm-3">XRP cost per 1 FOO:</label>
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<label for="exchange-rate-1" class="col-form-label col-sm-3">XRP cost per 1 TST:</label>
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<div class="input-group col">
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<input type="number" class="form-control" value="" id="exchange-rate-1" />
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<input type="number" class="form-control" value="11.5" id="exchange-rate-1" step="any" disabled="disabled" />
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</div>
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</div>
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</form>
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<button id="look-up-offers" class="btn btn-primary previous-steps-required">Look Up Offers</button>
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<div class="loader collapse"><img class="throbber" src="assets/img/xrp-loader-96.png">Querying...</div>
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<div class="output-area"></div>
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{{ end_step() }}
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### {{n.next()}}. Send OfferCreate Transaction
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To actually make a trade, send an [OfferCreate transaction][]. In this case, you want to buy TST using XRP, so you should set the parameters as follows:
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| Field | Type | Description |
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| `TakerPays` | [Token Amount object](#specifying-currency-amounts) | How much of what currency you want to buy, in total. For this tutorial, buy some amount of **TST** issued by `rP9jPyP5kyvFRb6ZiRghAGw5u8SGAmU4bd`. |
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| `TakerGets` | [XRP, in drops][] | How much of what currency you are offering to pay in total. For this tutorial, you should specify about 11.5 XRP per TST or slightly more. |
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The following code shows how to prepare, sign, and submit the transaction:
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<!-- MULTICODE_BLOCK_START -->
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_JavaScript_
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{{ include_code("_code-samples/trade-in-the-decentralized-exchange/js/trade-in-the-dex.js", language="js", start_with="// Send OfferCreate", end_before="// Check metadata") }}
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<!-- MULTICODE_BLOCK_END -->
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You can use this interface to send the transaction specified by the amounts in the previous step:
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{{ start_step("Send OfferCreate") }}
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<button id="send-offercreate" class="btn btn-primary previous-steps-required" data-wait-step-name="Wait">Send OfferCreate</button>
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<div class="loader collapse"><img class="throbber" src="assets/img/xrp-loader-96.png">Sending...</div>
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<div class="output-area"></div>
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@@ -126,13 +167,52 @@ Most transactions are accepted into the next ledger version after they're submit
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### {{n.next()}}. Check Metadata
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The [transaction metadata](transaction-metadata.html) describes the outcome of a transaction. You can use a validated transaction's metadata to determine exactly what it did. (Don't use metadata from tentative transaction results, because it may be different from the [final result](finality-of-results.html), especially when using the decentralized exchange.) In case of an OfferCreate transaction, likely results include:
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You can use the validated transaction's [metadata](transaction-metadata.html) to determine exactly what it did. (Don't use metadata from tentative transaction results, because it may be different from the [final result](finality-of-results.html), especially when using the decentralized exchange.) In case of an OfferCreate transaction, likely results include:
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- Some or all of the Offer may have been filled by matching with existing Offers in the ledger.
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- The unmatched remainder, if any, has been placed into the ledger.
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- The unmatched remainder, if any, has been placed into the ledger to await new matching Offers.
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- Other bookkeeping may have occurred, such as removing expired or unfunded Offers that would have matched.
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The following code demonstrates how to check the metadata of the transaction:
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<!-- MULTICODE_BLOCK_START -->
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_JavaScript_
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{{ include_code("_code-samples/trade-in-the-decentralized-exchange/js/trade-in-the-dex.js", language="js", start_with="// Check metadata", end_before="// Check balances") }}
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<!-- MULTICODE_BLOCK_END -->
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You can use this interface to test it out:
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{{ start_step("Check Metadata") }}
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<button id="check-metadata" class="btn btn-primary previous-steps-required">Check Metadata</button>
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<div class="loader collapse"><img class="throbber" src="assets/img/xrp-loader-96.png">Checking...</div>
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<div class="output-area"></div>
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{{ end_step() }}
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### {{n.next()}}. Check Balances and Offers
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This is also a good time to look up the balances and outstanding Offers owned by your account as of the latest validated ledger. This shows any changes caused by your transaction as well as any others that executed in the same ledger version.
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The following code demonstrates how to look up balances using the [account_lines method][] and look up Offers using the [account_offers method][].
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<!-- MULTICODE_BLOCK_START -->
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_JavaScript_
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{{ include_code("_code-samples/trade-in-the-decentralized-exchange/js/trade-in-the-dex.js", language="js", start_with="// Check balances", end_before="client.disconnect()") }}
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<!-- MULTICODE_BLOCK_END -->
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You can use this interface to test it out:
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{{ start_step("Check Balances and Offers") }}
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<button id="check-balances-and-offers" class="btn btn-primary previous-steps-required">Check Balances and Offers</button>
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<div class="loader collapse"><img class="throbber" src="assets/img/xrp-loader-96.png">Checking...</div>
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<div class="output-area"></div>
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{{ end_step() }}
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<!--{# common link defs #}-->
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{% include '_snippets/rippled-api-links.md' %}
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