zkDX Trading Guide
Last updated
Last updated
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.
As a trader, you only need a minimum of $30 to open a position with leverages on zkDX. Here are the steps for trading:
Visit the dapp of zkDX. Click “Connect Wallet” and link your wallet to the website.
Click the network icon in the top right corner and switch to L2 network. Here we use “zkLink Nova Mainnet Live” as example
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.
Before initiating any trades, you need to swap $USDC to $ZUSD.
Click “USDC ⇆ ZUSD” 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.
Click “Trade” to enter the trading page. Choose a trading pair (e.g., ETH/USD), input the $ZUSD amount and open a position of “Long” or “Short”. Ensure you have a minimum of 30 $ZUSD to open a position, set leverage, and confirm the opening of a position.
View your current positions in the “Positions” section.
Enter the page of LP: Tokenomics -> $ZKLP or $ZKHLP
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.
