By Wendy’s Whitepaper contributor @LibertyRaider
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Huobi ECO Chain and Maki Swap
Huobi ECO Chain (HECO) is an open platform by Huobi Exchange that is similar to the Binance Smart Chain (BSC) of Binance Exchange. Just as BSC is utilizing BNB for transaction fees, HECO utilizes HT to operate. Since HECO was also developed based on the Ethereum network, it also has similar characteristics to Ethereum.
HECO is yet another Ethereum competitor boasting a high-speed low-cost trading and DeFi experience. Maki Swap by Unilayer aims to be to HECO as Pancake Swap is to Binance Smart Chain. Although very similar to BSC – HECO is easier to get started with and we’ll cover MetaMask setup in this article.
Expect to see many Ethereum and Binance Smart Chain projects migrate and port over to HECO in the coming months. Let’s get set up and get ready be early on some great projects.
Install MetaMask
Today we’re going to connect MetaMask to HECO so that you can interact with dApps on chain. MetaMask doesn’t come pre-configured for Huobi ECO Chain, so we have to do a few things first. This shouldn’t take long at all.
Before we start, you must have already installed and backed up your MetaMask wallet. If you have not done that yet, you can first follow these instructions to get set up. The instructions in this guide are for the desktop browser plugin, but they are nearly identical for mobile devices.
Configure MetaMask for HECO
Open MetaMask and select the Menu icon on the top right of the app (the colored circle). Select “Settings” and Select “Networks”
Click “Add Network” enter the custom info for HECO and click “Save”
Network Name: HECO
RPC Url: https://http-mainnet.hecochain.com/
Chain ID: 128
Symbol: HT
Block Explorer Url: https://hecoinfo.com/
Congratulations, you’ve configured your MetaMask wallet for the Huobi ECO Chain!
Before sending a large transaction to your newly configured HECO MetaMask wallet, you should first send a test transaction by sending a small amount of HT. If you receive the funds, you are good to go. If they don’t come through, you likely did something wrong. Check the custom network info, don’t forget to click “Save” and try again.
Funding your new HECO wallet
You will need to add some HT to your wallet before you can trade (or do anything at all) to cover gas fees – just like Binance Smart Chain uses BNB and Ethereum uses ETH for gas fees - HECO uses HT for transaction fees.
IMPORTANT: SELECT “HECO”
Make sure that you select the HECO chain when you withdrawal tokens from your preferred exchange to your HECO MetaMask wallet and NOT the Ethereum ERC-20 version. If you make a mistake, do not worry, you can switch back and forth between networks and your assets will not be lost. Your wallet address starts with “0x” and is the same as your Ethereum address.
Note: Do not be alarmed when your Ethereum ERC-20 assets disappear when connected to HECO. They are still there! When you want to switch back to the Ethereum network, all you have to do is click the drop-down menu located at the top center of the app and then click “Ethereum Mainnet.” To switch back to Huobi ECO Chain, you do the same process but Select “HECO” at the bottom of the list.
What’s next?
Visit Maki Swap and get familiar with the platform. Read more about it here and join their Telegram Community to ask questions. If you’ve been using Uniswap, PancakeSwap, or other decentralized exchanges, things will look quite familiar and you’ll have no problem getting right to it. Get ready to be early - start exploring projects building on HECO at DeFiBox.
Join Wendy’s public Telegram Group for more discussion and stay up to date with all things crypto. This is the only Official WendyO Public Chat on Telegram.
Wendy’s Whitepaper Disclaimer: Please be advised that I own a diverse portfolio of cryptocurrency assets, and anything written or discussed in connection to cryptocurrencies– regardless of the subject matter’s content– may represent a potential conflict of interest. I wish to always remain transparent and impartial to the cryptocurrency community, and therefore, the content of my media is intended FOR GENERAL INFORMATION PURPOSES ONLY. Nothing that I write or discuss should be construed, or relied upon, as an investment, financial, legal, regulatory, accounting, tax, or similar advice. Nothing should be interpreted as a solicitation to invest in any cryptocurrency, and nothing herein should be construed as a recommendation to engage in any investment strategy or transaction. Please be advised that is in your own best interests to consult with investment, legal, tax, or similar professionals regarding any specific situations and any prospective transaction decisions.