Helix is excited to announce the launch of the first-ever on-chain Japanese Yen forex market on its platform! You can now trade GYEN/USDT spot market with market and limit orders on Helix, the premier on-chain crypto exchange built on Injective. Read more below to find out more about GYEN, the benefits of trading GYEN on Helix, and a step-by-step guide on how to trade on Heilx.
Get started here: https://helixapp.com/spot/gyen-usdt
What Is GYEN?
GYEN is the world’s first regulated Japanese YEN-pegged stablecoin, issued by GMO-Z.com Trust Company. Every issued token has a 1:1 reserve balance and can always be redeemed 1:1 with the underlying fiat currency.
GMO-Z.com Trust Company, based in New York, is a Limited-Purpose Trust Company, regulated by the New York Department of Financial Services. GMO-Z.com Trust is on a mission to bring traditional finance into the digital age with blockchain services.
Why Trade GYEN on Helix
With a diverse array of upgrades and advanced enhancements, Helix is the only truly decentralized derivatives exchange. Helix provides completely unmatched exchange, trading bots, advanced order types, a brand new Swap interface, trading histories, and reward tracking to Injective users. Anyone can use Helix as a crypto cross-chain trading gateway with zero gas fees, best-in-class security, and lightning-fast speeds.
Helix is the first platform to support GYEN/USDT spot market within the Cosmos ecosystem alongside maker fee rebates, and new ways to earn with every trade.
GYEN-USDT Market Details
- Base asset: GYEN
- Quote asset: USDT
- Minimum price tick size: $0.000001 USDT
- Minimum quantity step: 100
- Trade and earn multiplier: 1X maker pts; 1X taker pts
- Fee: -0.01% maker fee; 0.1% taker fee
- Trading hours: 24/7/365
How to Trade GYEN/USDT on Helix?
In order to trade the GYEN/USDT spot market on Helix, you will need to have either GYEN or USDT in your Injective Wallet. The first step is to deposit assets to Injective.
Option 1: Bridge USDT from Ethereum to Injective
- Connect your Ethereum wallet (e.g. MetaMask, Trust Wallet, Ledger, Torus, Trezor) on Helix and make sure it has USDT balance;
- Go to the Account page on Helix and click “Deposit”;
- Select Ethereum in the dropdown menu and select USDT as the token you want to bridge;
- Click the “Set Allowance” button, which allows the bridge contract to use your USDT for the transfer; this will prompt you to sign a transaction via MetaMask or another wallet;
- Note that you need to pay a small amount in ETH gas fees to bridge tokens from Ethereum (but don’t worry there won’t be any gas fees on Injective!). Click “Confirm” to continue;
- Enter the amount of USDT you want to bridge over and click “Transfer Now”;
- Once the transaction is completed, you can check your USDT balance via the Injective Wallet or Account page on Helix.
Option 2: Bridge GYEN from Ethereum to Injective
- Go to Injective Bridge and connect your wallet;
- Select “Ethereum” from the dropdown menu as the origin source. Select “GYEN” as the token to transfer and make sure it has GYEN balance;
- Enter the amount of GYEN tokens you would like to transfer and click “Transfer Now”;
- Once the transfer is completed, you can check the GYEN balance in your Injective Wallet or Account page on Helix.
Option 3: Onboard with Fiat
- You can also onboard onto Helix using popular fiat currencies by selecting from one of the fiat on-ramp providers such as Kado, Transak or Payfura.
- Choose your payment currency (e.g. USD) and enter the amount in fiat you would like to swap;
- Select Injective as the network to receive your payment amount;
- Follow the instructions and continue the steps;
- Once the transaction is completed, you will see the USDT or INJ balance on Injective Wallet or Account page under Helix;
- Swap INJ to USDT by using the Swap feature if needed.
Trade GYEN/USDT on Helix
After you successfully have GYEN or USDT assets to Injective, you are ready to trade!
- Go to the GYEN/USDT spot market on Helix;
- Now you can buy GYEN using USDT, or sell GYEN to get USDT;
- On Helix, you can choose the type of order, either Market or Limit order;
- Enter the amount you want to Buy or Sell, submit your order and approve it with your wallet;
- Once the order is approved successfully, you will see a notification “Your order has been placed.”
Upcoming Listings
Moving forward, Helix will continue to expand the markets available for users. All community members can propose to bring new assets to Helix using the governance portal on the Injective Hub. Ultimately, all INJ token holders own Injective so the community has the power to bring new assets to the dApp ecosystem.
Stay updated on all new listings by joining Helix on Twitter and Telegram!
Useful Resources
- How to create your Injective wallet: Link
- Onboard onto Injective instantly with fiat: Link
- Transfer assets to Injective via Injective Bridge: Link
- A quick guide on how to make a trade on Helix: Link
- Trade and Earn on Helix: Link
- Earn trading fee discounts by staking INJ: Link
This article is for informational purposes only and is not financial advice or an endorsement of a particular project or application. Use of Helix is subject to Helix’s Terms and Conditions.
About Helix
Helix is the premier decentralized crypto exchange. Helix provides access to unlimited crypto assets and perpetual markets with market leading rebates. Best-in-class security, near zero fees, lightning fast speeds, cross-chain capabilities and a fully on-chain orderbook on Helix provide the optimal gateway to bring crypto trading to the masses. Helix is built on Injective, the interoperable layer one blockchain for building powerful exchange, DeFi, derivatives & Web3 applications.
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About Injective
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native token that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
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About GYEN and GMO-Z.com Trust Company
GYEN is the world’s first regulated Japanese YEN-pegged stablecoin, issued by GMO-Z.com Trust Company. GMO-Z.com Trust Company, based in New York, is a Limited-Purpose Trust Company, regulated by the New York Department of Financial Services. GMO-Z.com Trust is on a mission to bring traditional finance into the digital age with blockchain services.
Website | Twitter | LinkedIn | Whitepaper