🌉Bridging may take longer, but you can get more gETH at once this way, so if you wish to do so, here is the link: bridge.arbitrum.io
🧪Moving onto the testnet, when we first arrive to the home interface after connecting our wallet we will need to claim USDC
Claim your USDC, now let's look at opening trades
➡️As you can see from the previous screen, there are the basic options for opening orders: market/limit and long/short
🟢If you are opening a market order, you need not concern yourself with the "price" window and you should keep slippage set at 1% ideally
🔴If you are opening a limit order, the "price" window will be where you want to buy your order at, whether that is a short or a long position
‼️You may or may not want to add TP/SL before opening an order, for the tutorial sake we will just pretend we have no TP/SL set yet
💰Now lets discuss leverage and collateral
Since there are no pairs, we only use USDC as the collateral to open our positions. So collateral is the size of your position. Minimum order size is 1500 USDC so if will need to use leverage if you want to use less collateral
🧮For example if you wish to open a long on BTC with only 250 USDC then you will need to use a minimum of 6x leverage. Leverage can be adjusted using the slider or manually inputting a number 1-150
🧑💼Now lets look at managing our open positions:
As you can see here we have a few columns. You can click on either "Liq/SL" or the "Take Profit" tab to open a popup display that allows you to set TP/SL manually
📲Clicking on anything else under any of the columns other than "Liq/SL" or "Take Profit" will open an alternative pop up window where you can share your position, test this feature out too!
🔄Switching to a different trading pair can be accomplished by clicking on the pairing at the top left of the chart, and selecting the desired pair
More pairs will be added later. For now, test the functionality with both pairs
🔐Now let's check out the vault. Let's deposit some USDC to get some mUSDC. After making your deposit, give it some time for the proper balance to display on the dApp. In the near future we will be able to test staking of mUSDC as well
🧪The testnet is meant to work out the kinks so do test out every feature with emphasis on the following:
-Long/short
-Leverage (make sure calculations are correct, especially liquidation mark)
-Net PNL (correctly calculated)
-Add to vault
🎙️After you finish, make sure to share those positions with us in discord, and twitter along with your feedback
🪲We need to work out any bugs so please do seek and report any you find, and happy testing #MMT fam!
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As we continue to approach the date of the @MyMetaTrader IDO, we have been continually inundated with BULLISH news
❓ Wen airdrop, wen CEX, wen use case, wen wen wen
🧵 In this mega thread I will address every single point of interest on #MMT
LETS GET INTO IT! 👇
⏪ But first let us review; what is mTrader?
#MyMetaTrader is the first leverage DEX built with the aid of GPT-3 on the Arbitrum blockchain. MMT allows trading across diverse asset classes, maximizes your capital efficiency, and minimizes your risk exposure
💭Okay, but HOW?
1⃣ This brings me to my first point: risk is already minimized on the front end by removing centralized entities from the equation. There are a number of reasons that trading with a CEX is less secure:
-Vulnerable to hacking
-Fraud risk (see: FTX)
-Scam wicks
Have you still not joined @MyMetaTrader community, anon? Why not...? Today I am going to review the project, and give you some reasons why you may want to get involved with #MyMetaTrader
So let's get into it. Let's talk about what MMT is first:
My MetaTrader is the FIRST DEX built using GPT-3 that is building on Arbitrum. Another unique feature of MMT is that it hosts VERY high leverage (up to 1000x for some asset class), and the ability to trade stocks/forex, and other asset classes beyond crypto
There is a plan for the ability to bid NFT floor prices up to 10x in the future as well.
Now, what is great about trading with leverage on MMT is that you are trading against a single pair since it utilizes a collateralized mDAI vault that absorbs the loss