The world of decentralized finance (DeFi) is constantly evolving, and with it, the tools that enable traders to navigate this complex landscape. One such tool is Axiom, a trading terminal specifically designed for DeFi trading across various platforms. If you’re new to Axiom and eager to capitalize on token opportunities, this comprehensive guide will walk you through the essential steps to get started, understand the platform, and identify high-potential tokens.
What is Axiom?
Axiom, co-founded by UC San Diego graduates Henry Jang and Preston Ellis, is not an exchange but a powerful trading terminal that connects users to diverse decentralized exchanges (DEXs) in the Solana ecosystem and beyond. It facilitates trades on platforms like Pump Swap and Hyperlquid while integrating yield-generating protocols, allowing users to maximize their idle crypto assets. Think of Axiom as your DeFi command center, providing a suite of tools to enhance trading efficiency without taking custody of your funds.
Getting Started with Axiom
Step 1: Signing Up
To start using Axiom, navigate to the official website and sign up. You have three methods to create an account: through your email, Google account, or Phantom Wallet. If you choose email, ensure you create a strong password and verify your account. For those using Phantom Wallet, approve the necessary connection prompts and secure your recovery key—it's vital for regaining access to you crypto.
Step 2: Fund Your Account
Once signed up, you'll need to fund your Axiom account. Although Axiom operates on Phantom, it generates a unique wallet for you. To deposit funds, click on the 'Deposit' button and choose among various options: buy Solana (SOL) via Coinbase or transfer from your Phantom wallet. Always perform a test transaction first to ensure everything is set correctly.
Step 3: Discover Tokens
Axiom's discovery page is a vital resource for identifying trading opportunities. It's sorted into three sections: Deck Screener, Trending, and Pump Live. Here, you can analyze tokens' performance based on real-time metrics such as trading volume and market cap. Be cautious, particularly with meme coins, and consider their risk before executing trades.
Navigating Axiom's Features
The Pulse Page
The Pulse page is particularly useful for tracking new token launches and those nearing migration to DEXs. It’s split into three columns:
- New Pairs: Displays newly created tokens.
- Final Stretch: Lists tokens close to completing their bonding curves.
- Migrated Tokens: Shows recently migrated tokens.
This page offers filtering options by protocol and key metrics, which is crucial for assessing potential investments.
Utilizing Axiom's Trading Terminal
The trading terminal is where most of your activities will occur, as it provides essential data for informed trading actions. You can access it by selecting any token from the discovery or pulse pages.
- Market Data: View essential token details, including price, liquidity, and market cap, alongside a customizable trading chart with various time frames and technical indicators.
- Trading Panel: Execute market, limit, or advanced orders. You can also track your profits and losses in real-time, enabling you to manage your investments effectively.
Advanced Tools and Trackers
Beyond basic trading, Axiom offers additional tools for a comprehensive trading experience:
- Wallet Tracker: Monitor specific wallets and their trading activities. This feature allows you to add wallets of interest and analyze their trading history.
- Twitter Tracker: Follow real-time tweets from selected accounts for the latest updates in the crypto space. However, note that this feature requires a minimum trading volume before activation.
Tips for Identifying 100x Tokens
Finding tokens with the potential for explosive growth isn’t just about luck; it involves research and strategy. Here are a few tips:
- Analyze Market Trends: Use the trending and liquidity metrics to find tokens that are seeing increased attention.
- Monitor Social Sentiment: Utilize the Twitter tracker to gauge community interest and sentiment towards specific tokens.
- Be Cautious with New Tokens: While new tokens can present opportunities, they come with high risks. Thoroughly evaluate their liquidity, market cap, and developer activity to minimize potential losses.
- Stay Educated: Continuously learn about trading strategies and market trends through resources available on Axiom's documentation and trusted crypto channels.
Conclusion
Axiom coordinates a multitude of trading tools and resources allowing beginners to capture optimal token opportunities in the DeFi space. By following the steps outlined in this guide, employing its innovative features, and committing to ongoing education, you can significantly enhance your trading strategies and increase your chances of securing those coveted 100x tokens. Remember always to trade responsibly and stay aware of the risks involved in the crypto market.
By Wolfy Wealth - Empowering crypto investors since 2016
Get Wolfy Wealth Premium
Disclosure: Authors may be crypto investors mentioned in this newsletter. Wolfy Wealth Crypto newsletter, does not represent an offer to trade securities or other financial instruments. Our analyses, information and investment strategies are for informational purposes only, in order to spread knowledge about the crypto market. Any investments in variable income may cause partial or total loss of the capital used. Therefore, the recipient of this newsletter should always develop their own analyses and investment strategies. In addition, any investment decisions should be based on the investor's risk profile.
