How to sell DYM

In this tutorial, we will guide you through the process of selling your DYM tokens when centralized exchanges like Binance are not accessible due to geographical restrictions. We will utilize the Osmosis platform to facilitate the sale. Please note that this tutorial assumes you have received DYM tokens and are unable to sell them on traditional exchanges such as if you are based in the UK like me.

Written by

Razzaer

Published on

February 7, 2024

Crypto Guides, DEFI Platforms

Table of Contents

Step 1: Install the Keplr Wallet

first visit https://chainlist.org/?search=dym to add $DYM to your metamask wallet
Visit the Keplr wallet website through the provided link. https://www.keplr.app/
Add the Keplr wallet extension to your Chrome browser from the Chrome Web Store.
Once installed, access your Kepler wallet and import your MetaMask wallet by copying the private key.

Step 2: Bridge DYM Tokens to Osmosis

Enable developer mode in Keplr wallet settings.
Navigate to the “Assets” section and select your DYM tokens.
Choose the IBC send option and specify the amount of DYM tokens you want to bridge to Osmosis.
Confirm the transaction and wait for it to be processed.

Step 3: Trade DYM Tokens on Osmosis

Access the Osmosis platform and connect your wallet. https://app.osmosis.zone/?to=OSMO&from=DYM
Navigate to the swap section and select DYM as the token you want to trade.
Choose the desired token (e.g., USDC) and specify the amount of DYM tokens you want to swap.
Confirm the transaction and wait for it to be executed.

Step 4: Withdraw Funds to Centralized Exchange (Optional)

If you wish to withdraw funds to a centralized exchange like Binance, convert your tokens to a compatible asset (e.g., USDC or Osmosis tokens).
Follow the withdrawal process on the centralized exchange, ensuring to include the required memo.

Conclusion:

By following these steps, you can successfully sell your DYM tokens even when traditional centralized exchanges are not available. Utilizing the Osmosis platform provides a decentralized alternative for trading digital assets, ensuring accessibility regardless of geographical restrictions.