Beginners Guide to Deri Powers Trading
To get started visit Deri.io
Step 1: Click ‘Powers’ at the upper menu of Deri’s official website to enter the Powers section.
Step 2: Before trading, connect your wallet to Deri Protocol first. Click the “Connect Wallet” button in the upper right corner.
Step 3: Then, choose the wallet, here using MetaMask as an example. After occurring the wallet connection page, click the “Next” button, then click “Connect” to connect successfully. Till now, the part of the wallet connection is done. You can start trading now.
Step 4: To select the trading symbol of your choice, click on the small arrow pointing upwards. This will open the market window. There are only 2 symbols in Deri’s Power Perps temporarily: mBTC^2 & mETH^2. We here use mBTC^2 as the example of the tutorial.
Step 5: Then click “Deposit” to transfer funds from Wallet to Deri Protocol to charge your DEX account with margin.
Step 6: The account deposit window appears. Firstly, choose the base token you’d like to transfer to the Deri platform and use as margin, we’re taking BUSD (1) as an example. Secondly, enter in the amount of BUSD you’d like to transfer from your wallet ( or you can directly select the percentage (2) by your total BUSD amount in your wallet). Once you have decided on an amount, click” Deposit”.
Step 7: Confirm your request on the wallet by clicking “Confirm” in order to have the funds transferred to Deri Protocol. Your deposit is successfully transferred once the hint “ Deposit success” occurs in the upper right corner. On the Account Panel info located at the top left corner, you can see your available added Margin.
Step 8: Now we’re ready to open a mBTC^2 position! Move to the “Buy” section in the bottom corner, set the notional amount in mBTC^2 you’d like to buy (Or you can directly enter the notional amount in USD, it will be converted to mBTC^2 equivalent). Instead of the manual input or the given percentage buttons, there is also a slider to adjust the amount. After determining the amount, click “BUY/LONG”
Step 9: A transaction confirmation window appears which sums up all the transaction details. Once convinced, hit the “Buy/Long” button. Confirm your wallet request to open your position.
Step 10: The hint “Transaction success” means you have successfully opened your transaction. Information of your open position(s), you have opened up, will be included in your “Positions” tab.
Step 11: if you seek to close a specific position, you can click “Close” in the position tab ,which results in a complete close of your position. Once you hit the close button, you need once again to “Confirm” the closure request on your wallet. The hint “Close position success” means you have successfully closed your position.
Step 12: You can view your detailed trading history in the “History” section. Referring to the picture below, the information of two transactions we did, i.e buying mBTC² & selling mBTC² are recorded in ‘’History“ section now.
About Deri Protocol
Deri, your option, your future!
Deri is the DeFi way to trade derivatives: to hedge, to speculate, to arbitrage, all on chain. With Deri Protocol, trades are executed under AMM paradigm and positions are tokenized as NFTs, highly composable with other DeFi projects. Having provided an on-chain mechanism to exchange risk exposures precisely and capital-efficiently, Deri Protocol has minted one of the most important blocks of the DeFi infrastructure.
