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How to Buy and Stake Opu Coins

May 24, 2021 · 8 Mins read

Introduction

Users of Opu analyze their health and skin image data and are rewarded for sharing and whenever the data is accessed for research purposes. By creating a balanced win-win relationship in which all parties benefit from access to health and wellness data, OPU will become a standard means of exchange for data within the healthcare industry.

To accomplish this, the OPU platform has its native cryptocurrency – OPU coin.

How to obtain OPU coins, you ask? Tag along. In this explainer post, we will discuss three ways to get OPU coins.

Let’s get started!

How To Buy OPU Coins Using QuickSwap?

QuickSwap exchange is built on layer 2 solution – Matic network. Thanks to this, the transactions are lightning-fast, and most importantly, you pay minimum transaction fees. In this section, we will buy some OPU coins against ETH using the QuickSwap exchange.

Step 1 – Connect Your Metamask Wallet to Matic Web Wallet

  1. Go to Matic web wallet.
  2. Click on the Metamask option and connect your Metamask wallet to the Matic web wallet. Once you have done that, the Matic wallet dashboard will be displayed on your screen.

Step 2 – Add Funds To Matic Web Wallet

  1. Click on the ‘Move funds to the Matic Mainnet’ dialogue box.
  2. Now choose the cryptocurrency you wish to send from Ethereum mainnet to Matic mainnet. For the sake of this tutorial, let’s select ETH.
  3. Above the ‘Transfer’ button, you will see the ‘Transfer Mode.’ Please select the ‘PoS Bridge’ by hitting the ‘Switch Bridge’ button. PoS bridge will allow you to transfer funds from Ethereum mainnet to Matic mainnet within 10 minutes. (The Plasma Bridge might take up to a few days.)
  4. Select the amount of ETH you wish to add to the Matic mainnet.
  5. Now hit the ‘Transfer’ button.
  6. A dialogue box will appear highlighting ‘What’s supported’ and ‘What’s not supported.’ In the ‘What’s supported’ section, you will see that moving funds from Ethereum to Matic will take around 7-8 minutes. Click on ‘Continue.’
  7. The ‘Transfer Overview’ prompt will open. You will see the total deposit amount after slashing a small gas fee. The gas fees here are much cheaper than Uniswap or 1inchExchange.  Hit ‘Continue.’
  8. The last dialogue box, ‘Confirm Transfer’ will pop up on your screen. Review your transaction. You will see the amount of ETH being transferred, the transfer mode – PoS Bridge, and the estimated transaction fee. After you have read these details, click ‘Continue.’
  9. Once you hit ‘Continue,’ the Metamask window will open up. Adjust the gas fees and hit save. Next, click ‘Confirm’ to process the transaction.
  10. The ‘Transfer in Progress’ window will show up on your screen. Wait for 8-10 minutes, and your transaction will be completed. You can check the status of the transaction on Etherscan by clicking the ‘View on Etherscan’ option at the bottom of the ‘Transfer in Progress’ window.
  11. Once the transaction is completed, go back to the Matic wallet, and you will see that your ETH balance is added to your Matic wallet.

Step 3 – Swap ETH for OPU Coin on QuickSwap

Before we start swapping ETH for OPU tokens, we will first add Matic Network to Metamask. Then we add the OPU coin to the Metamask wallet. Finally, we will swap ETH for OPU.

Let’s get started.

Adding Matic Network To Metamask

  1. On the top right corner of Metamask dashboard, click the Network Selection dropdown menu located on the left-hand side of the wallet icon.
  2. From there, select ‘Custom RPC’. A form will appear with two tabs – Settings and Info.
  3. Go to the ‘Settings’ tab.
  4. Now, add the relevant details in the input section – a) In the ‘Network Name’ box fill Matic Mainnet. b) Now, paste https://rpc-mainnet.maticvigil.com/ in the ‘New RPC URL’ field.
  5. You can also fill the optional fields – a) In the ‘ChainID’ field type 137, b) In the ‘Block Explorer’ input section add https://explorer.matic.network/, c) To avoid confusion while switching networks, enter ‘MATIC’ in the ‘Symbol’ section
  6. Now scroll down, hit ‘Save’, and that’s it. You have successfully added Matic Network to Metamask.

Adding OPU Coin to Metamask

  1. On the Metamask window change network settings to ‘Matic Mainnet’. For this, select ‘Matic Mainnet’ from the network selection dropdown menu.
  2. On the main Metmask account page, click the ‘Assets’ tab. At the bottom of the Assets window you will find the ‘Add Token’ button.
  3. Select ‘Add Token’. A window will appear with two tabs – Search and Custom Token.
  4. Hit the ‘Custom Token’ tab. Once you select Custom Token, an input dialogue box will show up.
  5. Go to https://etherscan.io/tokens and search for OPU coin. You will find OPU Coin’s contract address and other relevant details. From there, copy the contract address of the OPU token.
  6. Now, come back to the Metmask window. Paste the copy contract address in the ‘Token Contract Address’ field. If you’ve pasted the correct address the ‘Token Symbol’ field will automatically show up.
  7. Hit ‘Next’ and then select ‘Add Token’. And that’s it- you have successfully added the OPU token to Metamask.

Currently, your OPU balance in your Metamask ‘Assets’ section will be zero as you haven’t purchased any OPU tokens. So let’s now buy some OPU coins using QuickSwap.

Swapping ETH for OPU tokens On QuickSwap

  1. Go to the QuickSwap Exchange.
  2. Go to your Metamask wallet and change the network settings to ‘Matic Mainnet.’ For this, open the Network Selection dropdown menu. From there, select the ‘Matic Mainnet’ option (or whatever you named the Matic network while adding it to Metamask).
  3. Now go to the QuickSwap dashboard, and you will see your Metamask wallet is automatically connected. If not, click the ‘Connect to a wallet’ option on the top right of your dashboard. Now connect your Metamask wallet manually.
  4. Now back to the QuickSwap window. In the ‘From’ section, select ETH, and from the ‘To’ section, select OPU.
  5. For the sake of this tutorial, let’s buy 0.01 ETH worth of OPU coins. Enter 0.01 in the ‘From’ section, and the transfer amount will be automatically displayed. At the time of this writing, 0.01 ETH will give you 3156 OPU coins.
  6. Click ‘Approve ETH.’
  7. Metamask will open up. Hit ‘Confirm.’
  8. The QuickSwap user interface will change within a few seconds to ‘Approved.’ Click ‘Swap.’ The Metamask will open the ‘Confirm Swap’ window. There hit ‘Confirm Swap.’ Again ‘Confirm’ on the Metamask pop-up, and that’s it. Your transaction will be completed within a few seconds.
  9. Once the transaction is completed, you can check the OPU balance under the ‘Assets’ section of your Metamask wallet.

How To Buy OPU Coin On ChainX?

ChainX is a centralized exchange located in Korea. ChainX supports KRW fiat pairs and few crypto-to-crypto pairs. In the case of OPU coins, there are two trading pairs on ChainX – OPU/ETH and OPU/KRW. For the sake of this post, let’s buy OPU coins against ETH.

  1. Go to the ChainX website. Sign up with ChainX by entering your details.
  2. Now log in to your account.
  3. To purchase OPU coins with OPU/ETH pair, you need to sell OPU/ETH to KRW.
  4. Enter the sell section. You will see the token price on the left. Select the right sale price and enter the value. Now hit the ‘Sell’ button. Now you can go ahead and buy OPU coins. It is the same as ‘Sell.’

OPU Coin Native Staking Program

If you have some OPU tokens, you can earn passive income in OPU coins by staking them in the OPU native staking program. You can earn up to 30% on your OPU holdings. You can earn staking rewards by locking your OPU coins directly using your OPU wallet.

Here’s how it works –

  1. Open your OPU wallet and go to the staking window.
  2. Enter how many OPU coins you wish to stake.
  3. Now, choose the staking duration from the dropdown menu.
  4. Select the type of staking – Locked or Unlocked.
  5. Verify your account password and hit ‘Stake.’ That’s it. You have successfully staked your OPU coins.

Now let’s take a look at the staking rewards rates. It is based on the type and duration of staking.

 

Days

Staking Reward Rates
Unlocked Locked
30 5.0% 10.0%
90 7.5% 15.0%
180 10.0% 20.0%
360 15.0% 30.0%

*These are current rates. Table data source – OPU Coin Native Staking Program

In a Nutshell

The Opu Platform is bringing blockchain functionality to the healthcare ecosystem. Opu Labs is working to make the healthcare economy more secure and decentralized. OPU coin is central to our offering. With OPU coins, you can monetize healthcare data as well as purchase quality products, services and in the future data.

OPU coins are listed on the ChainX exchange and QuickSwap exchange. You can purchase the OPU tokens from these exchanges. Moreover, you can also earn OPU coins and then earn staking rewards by participating in our native staking program.

 

 

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