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What is Plasma?

Plasma is our Over The Counter portal. It enables users to set up and find deals using a variety of Tokens.

OTC may feel daunting if you have never done it before, but we have made it really easy. Let’s run through the steps:

FIND DEALS

Anyone can look through available deals. Simply connect your wallet and go to the Find Deals Tab. If you see a deal you like, taking it is as easy as clicking the BUY button and approving the transaction. OTC deal complete!

Plasma takes 1% of the value of the whole deal, paid equally by both Maker and Taker. This is done automatically when the deal is successfully closed. There is no charge for cancelling or refunding.

The drop down filter lets you search for a specific pair if you have something particular in mind. If you don’t see a deal you want, it’s time to create one.

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CREATING A DEAL

Anyone can create deals. Creating a deal requires that your wallet is connected, you have tokens for gas, and of course, the tokens you want to use in the deal.

The steps are as follows

  • Connect Your Wallet. This is done in the top right corner of the page, if on desktop. Compatible wallets include Keplr, with Sonar, Kujira’s wallet, coming soon. We’ll announce when we add more.
  • Create A Deal. Click on the + Create Deal button and select “Standard” to create a new deal. This will open a window with fields for all the necessary info.
  • Network. This is limited to Kujira, with plans to add more chains.
  • You Are Selling. This is the token you would like to trade with. Select your token from the list (it’s alphabetical) and how many you are adding to the deal.
  • You Will Receive. This is the token you wish to receive in exchange for your offer, and the quantity of that token you expect.
  • Price Per Token. This is the value of the token you’re offering expressed in terms of the token you are accepting.

If you’re offering 100 KUJI for 200 USK, you’re expecting 2 USK for 1 KUJI.

Plasma

50 ATOM for 200 LOCAL is 4 LOCAL per ATOM.

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You get the idea. Pay attention and make sure the Price Per Token is the one you have in mind.

  • Duration of Guaranteed Price. This is how long you want your deal to remain open. If you do not wish to include a time limit, select “Good ’Til Canceled” and your deal will stay open until it’s accepted or you cancel it. If you choose an expiry period, it starts as soon as the deal is created. This can last up to 48 hours.
  • Recipient Wallet. If your deal is open to everyone, select “Public”. Once published it will appear in the Find Deals list. If you have a specific recipient intended, select “Wallet”.
  • Recipient Wallet Address. If your deal is privately offered to a specific wallet, this is where you enter your intended recipient’s wallet address. Be sure to use the right address for the network; Kujira addresses only for now. Once your deal is published, only the recipient will see the offer in their Inbox after they connect their wallet to the Plasma site.

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MY DEALS

These are deals you have created. If a deal has not been accepted by a Taker, you can end it by clicking the Cancel button. You may only cancel a deal that has not been accepted. If your deal has been accepted, the deal is concluded, the cancel button is removed and the wallet of the Taker is displayed.

If a deal has expired without being accepted by a Taker, a Refund button is shown. Clicking this approves a transaction to return the tokens you deposited into the deal to your wallet.

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INBOX

This is where you will find any private deals where the Maker of the deal specified your wallet as the Taker. Both completed and open deals are shown. Deals marked “Expired” mean you did not close them in time and they are no longer available to you to Take.

To accept a deal, click the Buy button next to the deal and approve the transaction in the wallet. Once the Tx is approved, your token balances will reflect in your wallet (tokens in, and tokens out)

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CONCLUSION

Plasma is a very easy to use Over The Counter platform allowing anyone to create and find deals using a wide variety of tokens. Deals can be made available to the public or privately sent to a specific recipient, and allows these deals to be executed quickly and asynchronously with minimal third party involvement.

It currently works on desktop with the Keplr Chrome extension and services the Kujira network. We’ll be adding more networks, deal types and features as we go.

Please explore the service and be sure to follow us on Twitter or engage with us on Discord if you have any queries or suggestions for features. If you can’t see the token you want to use in a deal, please fill out this form.