Hi @Jan_Sokolovits, that means it is an official, verified coin.
Sometimes users can create coins on the Incognito network with the same name as famous ones, that’s why we mark the official coins with green-tick to verify them.
The verify tick doesn’t mean that a coin is tradable. But you can always add it to the Incognito DEX on your own, here is the instruction how to do this
So my my understanding is that u have to hold both the prv and the other token to begin trading correct?
Hey @Jan_Sokolovits no, you dont have to have both to begin trading, what elena ment is that there are some verified assets that have the green checkmark and they cant be traded.
As an example:
July token (JLT) which is used to vote on builder proposals is a verified asset yet it is untradeable-
Hope that cleared it up a bit.
But she also gave instructions on how to add it to the trade and that’s what throwing me a loop
Right, you dont have to simply hold both coins, you must provide both pairs into the “liquidity pool”.
You can provide liquidity to both sides by providing both of the trading pairs to the “liquidity pool” (Step 5 in this post: Start listing ERC20 tokens on pDEX for free.)
This function is called
Add on the App.
In the past, this was the only way to provide liquidity to the dex (and make interest) which it no longer does, at times it would cause: Impermanent Loss - Liquidity providers must know.
With that said the Incognito team decided to launch : Pool
With pool you dont have said impermanent loss or the need to provide both sides of a pair to a “liquidity pool” in order to earn interest. You can simply provide one token and earn interest.
So there are 2 different ways to provide liquidity
Add: Which gives you the ability to list a new token simply by providing both pairs of the trade to the “liquidity pool” (You do not earn interest with
Provide: You only need to provide one token. (you do earn interest with
So in essence, JLT (July token) is untradeable but you can make it tradeable by providing say PRV and JLT to the “liquidity pool” (Dont do this though )
Wording can be a bit complex to understand but hope this clears it up a bit.
So in Order to add it to the trade I have to told both pairs those would be nice if the cro from crypto.com was tradeable.