Catalyst Onboarded Companies Playbook
  • Introduction
  • Contents
  • Part 1: Terms and conditions of your funding
    • Where your funding comes from
    • How much you got funded and how it gets distributed
    • Phase 1: Onboarding, Proof of Life and Test Transaction
      • Proof of Life (PoL)
    • Phase 2: Project Delivery and Regular Reporting
    • Phase 3: Close-out Report and Video
    • Expected return (or why you got funding)
  • Part 2: Using the funding
    • Before you start
    • Open a wallet
      • What you need to know about wallets
      • Keeping your seed phrases safe
      • Multi-signature (multisig) wallets
      • Hardware Wallets
      • Risk list: Why not to store your ADA on an exchange
      • Video links about wallets
      • The case for lace.io
    • Converting from ADA to your currency
    • Converting from ADA to a stablecoin
      • Djed stable coin
      • Converting your ADA to stablecoin on a Cardano DEX
      • List of DEXs
  • Part 3: Accounting and Reporting
    • First steps to tracking funds
    • Keeping track of your funds
    • Accounting for funds recieved
    • Tools to help with taxes
    • Plan ahead to mitigate loss due to volatility
    • Reporting
  • Part 4: Community Support
    • Technical support
    • Telegram groups
    • Challenge Teams
    • Coordinator meetings
    • Project Catalyst Team – how they can help
    • Project Catalyst Team contacts
    • Get help from the Treasury Guild
  • Part 5: Cardano Business Technologies
    • Overview
    • Understanding Cardano Blockchain Technology
    • Programming on Cardano
  • About Cardano Smarthubs
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  1. Part 2: Using the funding
  2. Converting from ADA to a stablecoin

Converting your ADA to stablecoin on a Cardano DEX

To convert your ADA to a stablecoin using a decentralized exchange (DEX) built on the Cardano blockchain, you will need to follow these basic steps:

There are a few DEXs that have been built on the Cardano blockchain, we have provided a list here. You will need to find one that supports trading of stablecoins.

  1. Connect your wallet: You will need to connect your wallet to the DEX in order to access your ADA funds. You can use any of the wallets on our wallet list to connect to the DEX.

  2. Click on the Connect wallet button if your wallet is not connected. Once connected, look for the swap button. On clicking the swap button you will be presented with a screen where you can select the trading pairs. you will need to find the stablecoin trading pair on the DEX. This will typically be ADA/Stablecoin (e.g. ADA/iUSD).

  3. Enter the amount of ADA you want to change to Stablecoin and review the order. When you hit submit and the order is processed the Stablecoin will be sent to your wallet.

Please note that these are basic steps for converting ADA to a stablecoin using a DEX built on Cardano.

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Last updated 2 years ago