How to trade on Deri Protocol X Arbitrum — Everlasting Options
By adopting AAVE as the External Custodian, traders can deposit the following base tokens as margin to trade Perpetual Futures, Everlasting Options, and Power Perpetuals on Deri Protocol.
A step-by step guide
This tutorial will use the BTCUSD-4000-C trading strike, USDC base token as an example.
Add Arbitrum network to wallet
Step1: Go to website : https://chainlist.org/ , search “Arbitrum” in search bar, then click “ Connect Wallet”
Step 2: Click “Add to Metamask” （Here using an example of Metamask as the wallet)
Step 3: Visit the official website of the Deri protocol: https://deri.io. Click ‘Options’ at upper left corner to enter the Pools section.
Step 4: Click on the small arrow pointing downwards, choose “Arbitrum”, then you can start trading on Arbitrum now!
Step 5: To select the trading symbol of your choice, click on the small arrow pointing upwards. This will open the market window.
Step 6: Then click “Deposit” to transfer USDC from Wallet to Deri Protocol to add margin.
Step 7: 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 USDC as an example. Secondly, enter the amount of USDC you’d like to transfer from your wallet ( or you can directly select the percentage by your total USDC amount in your wallet). Once you have decided on an amount, click” Deposit”.
Step 8: 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 Margin Executed” occurs at the upper right corner. On the Account Panel info located at the top left corner, you can see your available, added Margin.
Step 9: Now we’re ready to open a BTCUSD-4000-C position! Move to the “Buy” section in the bottom corner, set the notional amount in BTC you’d like to buy (Or you can directly enter the notional amount in USD, it will be converted to BTCs equivalent). Instead of the manual input or the given percentage buttons, there is also a slider to adjust the amount.
Step 10: Click “Buy/Long” .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 11: The hint “Buy Order Executed” means you have successfully opened your position. Information of your open position(s), you have opened up, will be included in your “Positions” tab.
Step 12: 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 “Sell Order Executed” means you have successfully closed your position.
Step 13: You can view your detailed trading history in the “History” section. Referring to the picture below, the information of two transactions we did in options, i.e buying BTCUSD-4000-C & selling BTCUSD-4000-C 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.