How to Trade
Trading in Tent is as simple as opening a Tent, sharing the ID, selecting the assets, and confirming the transaction. Thanks to Cardano, this all happens live, and in an incredibly secure environment.
If you want more details on the trading process, here is a breakdown of the step-by-step process of trading, all the options you will have during the trade, and some security-related recommendations and tips.
The first step is to simply go to our website and connect your wallet (we recommend you bookmark our official link for security reasons). For this, a signature will be required, your wallet will display all you need to know about the permissions we are requesting. In Tent, no transaction will occur unless you have both confirmed the transaction and signed it with your wallet.
Always be mindful of what you sign with your wallet! Be sure to check and read all the details and the permissions you are giving to the websites you connect to.
We support all wallets that respect the dApp connector CIP standard (for the moment, that means Nami and Eternl wallet. As more wallets adhere to the standard, more wallets will be supported.
Once you connect your wallet, you will be able to see your trading history and toggle between light and dark mode. Finally, you will also be able to open a new Tent or to join someone else's Tent.
Simply open a Tent by clicking the button or join an existing Tent using the Tent ID.
When creating a new Tent, you will be able to enter a password if you want. Also, there is an option called Advanced Mode. Using this mode, you can limit the Policy IDs that can be traded within that Tent (up to 5 different Policy IDs).
Keep in mind that because of the live nature of Tent, you can only have one active tent at a time. If you want to open a new Tent, you will have to close your previous one.
Once your Tent has been created, you will be given the Tent ID. Simply share this ID with whoever you want to trade with.
We strongly recommend avoiding links, as some scammers are known to use fake ones, rely on your bookmarked sites, and on using Tent IDs. Tent IDs don't fail, and if someone claims they are not working, they are probably trying to scam you.
When both users join, you will be able to select assets, add ADA (optional), and at the same time see what your partner selects on their side. You can use the search function to quickly find NFTs, and if you want more detail on any NFT, simply click it to view details such as the Policy ID and the fingerprint.
By default, only verified assets are shown. We have partnered up with JPG Store for asset verification, so most actively traded projects will be verified. We recommend living this option turned on unless you know what you are doing. But if for any reason you want to trade unverified assets, simply turn the toggle off.
Regardless, we always recommend double-checking every asset before confirming any transaction.
When both parties finish the asset/ADA selection, they both need to confirm the trade. You will get a breakdown of the trade: all the assets to be traded, Tent's trading fee (usually 5 ADA), and royalties (if there are any). You can read more regarding royalties here.
Both parties need to confirm the trade for it to progress. If any user backs down or makes any change to the content of the trade, the other user will also have a chance to change their part. It's only once both parties have confirmed the trade, that the final blockchain transaction will be crafted.
This transaction is a special kind of transaction called a "multi-signature transaction", which means that it will only go through and be confirmed on the blockchain if both wallets sign the transaction.
You will get a prompt from your wallet to sign the transaction. You can view all the inputs and outputs of the transaction, confirming everything you are about to trade. No transaction will ever happen without your authorization/signature.
Please keep in mind that this is the Blockchain, which means all transactions are final and absolute. Once you confirm a transaction, there is no going back.
Those are all the steps to trading on Tent. Secure, easy, trustless, single transaction... Happy trading!