Beginners Guide: How to buy $MGH on Uniswap V3
Written by Lukas Philipp
On the day of writing (14.11.21), MetaGameHub DAO launched its future utility token ($MGH) on Uniswap V3!
Since MGH strives to make NFTs accessible to anyone having access to a blockchain network, we want to make sure anyone knows how to get MGH. Through this procedure, I will guide you in this article.
At this stage, you need to have an ERC-20 compatible wallet, since MGH is based on the Ethereum blockchain. I recommend you to get MetaMask. If you are unsure of how to properly set up a MetaMask Wallet, check out this short and easily understandable explainer video.
When you are ready with your MetaMask wallet, make sure to get some $ETH on it, the native coin powering the Ethereum blockchain. You will need it to make transactions on the Ethereum network — including buying $MGH.
After you have filled your wallet with some $ETH you are ready to get some $MGH. To do so, visit the MGH swap interface powered by Uniswap.
Before you can do transactions within the interface, you must connect your (MetaMask) wallet. Just click on “Connect Wallet” and follow the steps, which are very straightforward. Just make sure to unlock your wallet with your previously selected password and to select the Ethereum mainnet, so that you can connect to the Uniswap application. After successfully connecting your wallet, your public address will be shown in the top right of the interface.
After that, insert the amount of $ETH you want to swap with $MGH:
In the wallet I am using to showcase the interface, I don't have much $ETH but the procedure stays the same. Insert the amount of $ETH you want to swap and click “Swap”. By doing so, the following Confirmation window will pop up (see below).
For a bit more experienced users: Additionally, you can click on the gear in the top right corner. There you can adjust the slippage tolerance. Slippage is a very normal phenomenon, especially when it comes to DEX trades where the trading volume and liquidity are usually lower than on centralized exchanges (e.g., Coinbase and Binance). After placing a buy order (in this case a swap), the price can move. So, the slippage tolerance basically means in which price range you are willing to buy the asset.
What you see here is a summary of the swap you are about to do. Check it carefully and click “Confirm Swap” if everything looks good. You will then see your wallet popping up showing you the (currently tremendous high) gas fees and asking you to confirm the transaction.
In my case now, I don't have enough $ETH in my wallet to cover the gas fees but if so, you click on “Confirm” and the transaction will finally enter the blockchain. You can then check the status of the transaction in your wallet but it should definitely not take longer than 5 minutes to process the transaction if you have not changed the gas fee settings (which should be touched by more experienced users).
If you have any further questions, feel free to reach out to me on Twitter.
How can you stay up to date and keep in touch with MGH?
- If you want more information about MGH, visit our Website.
- For a sharpshooter-like view over the whole project, read our Whitepaper.
- Follow us on Twitter.
- Follow us on Instagram.
- Check out MGH on LinkedIn.
- Discuss, write, and celebrate with us on Telegram.
- Talk, laugh, and enjoy the time on Discord.
About MGH
MGH is an Ethereum-based protocol allowing its users a.) to mint NPTs to gain exposure to the NFT space, b.) stake their NFTs to earn network rewards passively, and c.) get a fair price for their NFT via the MGH pricing algorithm and oracle.
With these three use cases, MGH aims to make the NFT space more transparent (fairer prices), accessible for investors with smaller pockets (via NPTs) and combines DeFi and NFTs via staking NFTs to make a passive income.
In short: MetaGameHub DAO is the convergence of DeFi, NFTs, the metaverse, oracles, and AI-supported valuation tools.
