A Beginner’s Guide — How to Trade on Shield Binance Smart Chain Testnet
The Binance Smart Chain (BSC) BSC has received considerable traction, allowing users to take advantage of both the fast transaction speed of BC and the smart contract features of BSC. Now, user experience has always been a major priority for the Shield protocol. It’s why we’re delighted to be deploying on the Binance Smart Chain (BSC). This allows Shield to better incorporate features and provide users with a far more premium trading experience while also saving money on gas fees.
Excited to get started on the innovative Shield perpetuals to get leverage, running on your favorite blockchain? To trade on Shield Binance Smart Chain (BSC), you will have to follow just 3 easy steps:
- Install Metamask wallet
- Configuring BSC on Metamask
- Get BNB token and test ShieldDAI
1. Install MetaMask wallet
Head over to https://shieldex.io and start trading. Click on the “MetaMask” button, it will direct you to the download website. After you download MetaMask, a notification pop-up will allow you to “Add to Chrome.” Your MetaMask wallet will then be set up on your browser.
Once you are sorted with MetaMask, the next step to begin trading on Shield BSC is connecting the Binance Smart Chain to your MetaMask account. The Shield team has eased the steps with a single-click “switch to BSC network” button.
2. Configuring BSC in Metamask
- Since you already installed and set up MetaMask, you just need to head to https://shieldex.io/dds.html#/trade. Then click on “Connect Wallet”.
2. You will see a popup as shown below. Just click on the “ Switch to BSC testnet” button.
3. After switching to BSC testnet, your interface will look like this. Notice the BSC Test Network title on your MetaMask.
3. Get BNB token and test ShieldDAI
- Now, to get your BNB test tokens as gas on BSC, just click on the ”BNB-Faucet” drop down option.
2. Click on “CLAIM” to get your Test ShieldDAI.
3. Next, click “Confirm”.
4. Now, the top right corner of your interface will show the existing DAI.
And that’s it!
Congratulations! You are all set and good to go, Shielders!
Shield is a perpetual contract platform that has now ventured into decentralized derivatives protocol. Our new protocol lets you trade quickly and effortlessly on Binance Smart Chain. Based on a peer-to-pool model, the platform implements innovative solutions in our learnings from TradFi and CeFi. Through Shield, we plan to close the gap between the trading experience on DeFi and CeFi platforms. Furthermore, Shield lets traders from cryptocurrency and non-cryptocurrency markets become a part of the super exciting DeFi ecosystem.
Now we have launched the 2nd bug bounty program and up to 50,000 USDT rewards are waiting for you. Check out the details here.
In case you didn’t switch to BSC successfully, you can add BSC manually.
- After installation, select “Custom RPC” to add BSC MainNet on the METAMASK page.
2. BSC configuration for METAMASK is as below:
- RPC URL: https://bsc-dataseed.binance.org/
- Chain ID: 56
- Currency Symbol: BNB
- Block Explorer URL: https://bscscan.com
- You can directly connect to the Binance Smart Chain and see the BSC MainNet.
3. To enable Binance Smart Chain BSC support on Metamask, refer to the picture below:
- The address for BSC in MetaMask is precisely the same as ETH.
- Remember to add some BNB tokens to your MetaMask wallet. It is fairly similar to the role of ETH in Ether and is used as a transaction fee.
- If the token is not visible in your MetaMask wallet, you may need to add a token in BSC. To do so, you must find the option of “Add Token,” in which you can add a “Custom Token,” which will be BNB. Then, paste the contract address corresponding to the coin to add it.
- Test ShieldDAI contract address:0x21160DcCF818c5D8df20AbfA1B937ea3Ba1bD451