Guide on How to Trade Everlasting Options on Deri Protocol
Step1: Click ‘Options’ at the upper menu of Deri’s official website to enter the Options section.
Step2: To select the trading symbol of your choice, click on the small arrow pointing upwards (1). This will open the market window. Each trading symbol includes different strikes. Click on the arrow pointing downwards to display the strikes of the respective symbol. This tutorial will be illustrated using the BTCUSD-50000-C strike as an example, click “BTCUSDT-50000-C” to select your strike (2).
Step3: Then click “Deposit” to transfer funds from Wallet to Deri Protocol, charging your DEX account with margin.
Step4: The account deposit window appears. Firstly, choose the base token you’d like to transfer to the Deri platform and use as margin. Please note, the base token is limited to BUSD for Everlasting Options (this might change). 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”.
Step5: 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 at the upper right corner. On the Account Panel info located at the top left corner, you can see your available, added Margin.
Step 6: Now we’re ready to open a BTCUSD 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. Once done, hit the “Buy / LONG” button.
Step7: 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.
Step8: 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.
Step9: 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.
Step10: 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 buyingBTCUSDT-50000-C & BTCUSDT-50000-C are recorded in ‘’History“ section now.
About Deri Protocol
Deri Protocol = (Perpetual Futures + Everlasting Options) x Decentralized.
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.