OTC Trade Coverage on BSC

In this section we will take a look at how you can OTC trade coverage with Cover on Binance Smart Chain.

Step 1: First of all locate the contact address of the coverage token you would want to trade. To do so, locate your wallet on BSCScan and click on the desired token from the BEP20 tokens drop down. Copy the contact address of that token.

Step 2: Go to https://rubic.exchange/?chain=BSC. You should see the following setup.

Step 3: Select “Order Books” instead of “Instant trade”.

Step 4: Click “Use custom token” and paste the address of the coverage token. Then Click “Add”. Do the same for the token you would want to receive. In this case we use BUSD. Enter the amount of coverage tokens you want to sell and the amount of BUSD you would like to get.

Step 5: If you just want to put up an order with no specific buyer make set "PUBLIC DEAL" to "Yes". If you have a specific person in mind, set it to "No".

Step 6: Click “Create Trade”. This will put the trade onto the chain. We will still need to approve the tokens.

Step 7: Once trade is confirmed just click the cross on the pop up.

Step 8: Once on the trade window again, click “Approve”.

Step 9: Once “Approved” enter the amount of coverage tokens you want to trade and click “Contribute”. Now share the link to the deal with the person you would like to trade with or in the otc channel of Cover Discord.

Step 10: Person who received your link will be presented with the following view. We will now look at how one could send BUSD to get the coverage tokens. First you would need to click “Approve” to approve the spend on BUSD.

Step 11: Then enter the amount of BUSD you would like to spend on 10 coverage tokens and click “Contribute”. In our case it is 1 BUSD.

Step 12: After that your trade will be executed.