πzkDX Trading Guide
zkDX is a decentralized derivatives protocol of liquidity mode, which supports traders and LPs (Liquidity Providers) act as counterparties to each other. You have the option to become a trader and earn profits from trading perpetual contracts. Alternatively, you can choose to become an LP and earn profits from the losses incurred by traders.
How to be a trader?
As a trader, you only need a minimum of $30 to open a position with leverages on zkDX. Here are the steps for trading:
Step 1: Connect Your Wallet
Visit the dapp of zkDX. Click βConnect Walletβ and link your wallet to the website.
Step 2: Switch Networks
Click the network icon in the top right corner and switch to L2 network. Here we use βzkLink Nova Mainnet Liveβ as example
Step 3: Prepare Assets
On the zkLink Nova, you need to use ETH to pay gas fees, and you need to prepare $USDC for subsequent transactions. It is recommended to have at least $30 USDC in your wallet.
Step 4: Swap $USDC to $ZUSD
Before initiating any trades, you need to swap $USDC to $ZUSD.
Click βUSDC β ZUSDβ to to enter the Swap Page. Enter the amount of $USDC you want to exchange for, recommended to be no less than 30 $USDC.
The swap is bidirectional, you can swap $ZUSD back to the same amount of $USDC at any time.
Step 5: Open a Position
Click βTradeβ to enter the trading page. Choose a trading pair (e.g., ETH/USD), input the $ZUSD amount and open a position of βLongβ or βShortβ. Ensure you have a minimum of 30 $ZUSD to open a position, set leverage, and confirm the opening of a position.
Step 6: Check Your Position
View your current positions in the βPositionsβ section.
How to be a LP?
Enter the page of LP: Tokenomics -> $ZKLP or $ZKHLP
Buy/Sell $ZKLP or $ZKHLP Token
Currently, zkDX offer two types of LP token: $ZKLP and $ZKHLP
$ZKLP: Buy $ZKLP means provide liquidity for perpetual contract trading of mainstream coins such as BTC and ETH.
$ZKHLP: Buy $ZKHLP ZKHLP means provide liquidity for perpetual contracts trading of highly volatile assets, such as memecoins.
Please noted that if the traders incur losses during trading, the price of $ZKLP will rise. Conversely, if the traders generate profits, the price of $ZKLP will decrease. By buying or selling $ZKLP, the LPs will result in profits or losses.
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