Easy Dollar Cost Averaging (DCA) with DexHunter
Episode by Peter Bui on January 15th, 2024
How To Create a Dollar Cost Average (DCA) Order on DexHunter
How To Create a Dollar Cost Average Order on DexHunter
Total Time: 10 minutes
Navigate to the DCA Screen
Navigate to the swap screen.
Change swap mode to DCA
Change the swap mode to Dollar Cost Averaging (DCA) to start your DCA order.
Define the ADA Amount Per Order
Set the amount of ADA you would like to spend each order. This will be multiplied by the number of occurrences you set below and will require that amount of ADA locked into the DCA smart contract.
Set How Often to DCA
Set how often you would like to perform an order. You can choose every minute, hour, day, week or month. Next set the number of occurrences you would like.
For example, if you would like to make an order every week for 4 weeks, set the occurrence to “Week” and and set the number to 4.
Click start and confirm the transaction
Confirm the details of the order, click start and confirm the transaction.
Success, you have now created your DCA on DexHunter. Go to the Orders screen to manage and cancel your ongoing DCA orders.
Dollar cost averaging or DCA is a fantastic way of getting into a project without spending copious amounts of time staring at a screen at charts to try and work out when to buy a token and when to sell the token. It allows you to automate those trades over a set amount of time with a set amount of assets to buy and it just makes that process really easy and stress-free. And now this is all possible on DexHunter as well. They just released this feature,
where you can DCA into an asset and DCA out of the particular asset too. So you can maximise your profits or average out, I should say your profits over time. So this is super easy to do and I’m going to show you exactly how to do it on the platform. This is DexHunter here. If you haven’t seen it before, go to dexhunter.io. I’ve loaded up the app and I’m in the Pro view at the moment.
Now one of the really cool things to just have a look here on the main interface is the amount of global trades that is going through DexHunter at the moment. So it’s at 59%. So in the last 24 hours, that’s the percentage of trades in the entire Cardano ecosystem that has gone through DexHunter. They really do find you the best trades possible on the ecosystem. So really good to check out and try out DexHunter. So click on the swap screen and this will take me to the pro interface here.
The next thing you need to do is click on DCA to switch over to dollar cost averaging. So I’m going to set my allocation of ADA to 10 and then my buy of hunt, it will work out automatically. Now here under that I can set the intervals and in this case I’m going to set my intervals on a weekly basis and I’m going to set this for four weeks. So over the next month I’ll be buying on a weekly basis using 10 ADA. So that’s a…
that’s confirmation here by 10 ADA every week for four weeks. Let’s check it here. I’m going to be DCA in total 40 ADA, four ADA for batch of fees, which is going to add up a little bit and then a return deposit of 13.5 ADA with the assets that are coming back. So everything looks good there. I’ve got a service fee of 0.5 or minimum of 1.5 ADA per transaction. So okay.
this will probably be best if I was DCAing a larger amount of assets because of those fees and those batch of fees they will get you there. So make sure when you’re doing this you are trading larger amounts to maximize your gains there. Now this transaction has come up so I will need to sign this everything looks good there so I had the 40 ADA base plus all the fees on top so I’m going to sign this and that is being submitted and now I have my DCA on the platform.
I’m now looking at all my orders and I can see my created ongoing DCA here. At any point in time, I can actually click on cancel DCA and this will bring me up a transaction that I need to sign and I can verify that sign that particular transaction. There we go and that’s canceled my DCA. This will be removed from my current order screen and all that ADA that I locked into purchasing hunt tokens on a regular basis.
will be returned to me. You can actually see that it’s already returned to my wallet. My balance is back at 83 ADA and this will update in a moment when all the transactions have been confirmed. So super quick, really easy interface in regards to doing a DCA on Cardano using DexHunter. Now this is being propagated through the entire Cardano ecosystem at the moment. So
another announcement came out pretty much right after DexHunter’s announcement of their DCA feature. And this was the announcement from Tap Tools that they now have the DCA feature on their platform too. And if you load up Tap Tools and go to a particular token such as Hunt, you’ll see on the right hand side here that they do have that enabled already. So there you can see the DCA feature and you can start DCAing straight from.
where you’re probably already used to viewing all of the tokens in the Cardano ecosystem. So absolutely amazing to see this all come together. I think, you know, TapTools is taking over the entire Cardano ecosystem regards to all the data and analytics for all the CNTs, Cardano native tokens, and DexHunter at the moment is taking over in regards to the Dex aggregator to allow this type of trade. Now
we do also have the ability to use DexHunter on Vespa wallet, a really popular mobile wallet. So hopefully we can see the DCA feature released on that soon as well and I’m looking forward to seeing if that happens because it will make trading a lot easier for a lot of people. Now one of the really interesting announcements that DexHunter made late last year was the Dex token buyback.
So all of these protocol fees that go through DexHunter will be used. Half of it will go to a treasury fund, but the other half will go to the token buyback of Hunt, creating more buy pressure for the token, changing the price impact on some of the Dex’s and also reducing the supply overall. So this is a really bullish type of thing to do for the particular token itself in the ecosystem. So everyone, well, 60% of the chain.
are using it at the moment to purchase whatever tokens it is. So there’s a lot of fees going through this at the moment and they’re going to use this to buy back the hunt token here. So super bullish on this project. DexHunter and the hunt token is definitely one of my peaks for 2024. Really looking forward to seeing what DexHunter get up to this year. I know they have a really ambitious roadmap. Cross chain swaps are coming as well. So
We’re going to see a lot of activity coming up. If you enjoyed this video, if you learned something, give me that thumbs up, click that subscribe button and click on the notification bell. Leave a comment down below. What video, what topics, what would you like to hear me talk about and or tutorial, whatever it might be. Maybe there’s a project that you want me to interview and dig deeper into. Leave a comment down below. I would love to hear from you guys. Until then, I’ll see you in the next video.
Yeah, gotta do it like that. You’ve been listening to the Learn Cardano