IntentX: Airdrop & Protocol Walkthrough

January 17, 2024

In conclusion

Greetings, fellow degenerate gamblers! We hope you had a fruitful holiday season and are locked and ready going into this new year.

One of the few things you need to be tuned into going into the new year is perp DEXs. We have seen a ton of them start to gain real traction, and as this market cycle progresses, that trend will only continue upwards. 

While the competition in this sector is fierce, the differentiation among the players is fairly minimal. When it boils down to it, you generally have different versions of AMMs, vAMMs, and the shared liquidity pool model. 

Towards the end of last year, however, we introduced you to a protocol that is taking a completely different route to the rest. That protocol is IntentX, an exchange that is looking to cut through this market with its intents-based approach to creating the most liquid and efficient derivative DEX out there.

IntentX is currently live and is also set to do an airdrop soon… 👀

So today, we are going to give you a complete rundown on how to go about using the protocol. 

Using IntentX

For starters, IntentX completed a migration on the 2nd of Jan 2024 to v0.82. The official link for the new app is Loading... (intentx.io). Beware of scam links. 

IntentX uses the Base L2 as their home chain, so with the recent migration, one of the more important things for users to keep note of is that the platform now uses native USDC as the base token rather than USDbC. 

With that being said, let’s get into this how-to guide.

In this article, we will be covering everything you need to know when it comes to interacting with IntentX:

  • Navigating the Homepage 
  • Getting started 
  • Depositing funds 
  • The Trading Interface 
  • The INTX airdrop 
  • Additional features 

Step 1: Homepage 

When you first enter the app, this is the page you will see

As you can see, this is the entire trading interface and is similar to most of the CEXs you might have used in the past. 

Step 2: Getting started

To get started, you can either click on the bottom right panel and follow the steps from there, or you click on the top right corner. 

For the purpose of this article, let’s assume you clicked on the top right. 

After clicking on the top right corner, you will see the wallet connect pop-up where you can connect your preferred wallet. 

Step 3: Creating an account 

Once your wallet is connected, you’ll be met with this page. 

Pick a name of your choice, agree to the terms & conditions, and then click on the big red button on the bottom. 

After that, you will see a pop-up where you are required to sign a transaction. Make sure you have some ETH on Base network for gas and sign the transaction. You should then be ready to go. 

If you would like to create sub-accounts, then you simply navigate again to the top right where your name is written and click on it. You should see this.

Click on ‘create other account’ to make a second account on the same wallet, and click on ‘Account Manage’ to track and manage all your different accounts. 

Step 4: Depositing funds 

Once you are all signed up, you need to click on the top right corner once more, where you will see this image. 

You will click on ‘Deposit’. Once you click that, you will see this pop-up.

Make sure your Base wallet has USDC loaded up in it. 

You will first have to approve the use of USDC, then you can select how much you would like to deposit, and then click on ‘Deposit & Allocate’. 

Confirm the transaction in your wallet, and your funds should be loaded into your IntentX account, ready for you to trade. 

The trading interface

Once your funds are loaded into the account, you can begin trading. 

The image above is what you will see on the left-hand side of your screen. 

You have the option to place either limit or market orders on a ton of different crypto assets. 

After that, you can choose between long & short positions (you better be longing). If it’s a limit order, you input your preferred price for the execution of the trade; if it’s a market order, you of course, don’t need to worry about it. After that, you can select the quantity and the leverage amount you would like to take. I know all of you are sliding that bar all the way to the right. 

You then click on the button at the bottom, which says ‘long’ or ‘short’, and then approve the trade in your wallet. 

Just like that, you’re now actively using IntentX. 

All the way at the bottom of your screen, you will have all the information necessary with regard to your position. 

Note you can also get this information by clicking on ‘Manage Account’ in the drop-down list all the way to the top right-hand corner. 

On the left side, it will give you details about your overall account health and some finer details about specific positions. 

In the middle, you get general information such as entry price, size, liquidation price, leverage amount, P&L, funding payments, TP/SL, and so on. This is similar to most CEXs that you may have used in the past. 

INTX airdrop 

Okay, so now you’re actively trading on IntentX, but remember, at the start of this guide, I told you about an airdrop. 

So when you start trading on IntentX, at the top left-hand corner of your screen, you will see this. 

You can also go to the ‘incentives’ page to view this info. 

You will keep accumulating these points based on your trading volume, and they will reflect every epoch. But you also get points for things like creating an account, depositing funds, following the official account, joining the Discord, and other such things. 

So keep accumulating those xINTX points. 

Additional features

If you click on the tab in the extreme right-hand top corner, you will see this dropdown list. 

Over here, you will be able to look at advanced analytics on your trading as well as things like the IntentX leaderboards, incentives, and referrals. 

Concluding thoughts 

IntentX is genuinely changing the way derivative DEXs in this space will work. Their team is filled with gigabrains who are trying to be the 0-to-1 innovator for on-chain derivatives, and they very well may achieve that. 

If you don’t believe us, then use this guide and give it a try for yourself. You won’t be disappointed. We expect big things from this team in the future. So don’t take your eye off the ball with this one.

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