Before you can begin trading on Kwenta Futures you will need:
- A web3 wallet for your browser
- The Optimism Ethereum Kovan Testnet added to your wallet
- To have completed the onboarding process
If you do not have the wallet setup, you can follow the steps outlined here . If the above has been completed, head over to the Kwenta Futures Platform to begin trading. If you'd like to first get an in-depth overview of everything on the Futures Dashboard, check it out here.
Main Competition Dashboard
When you wrap up the onboarding process, you will be dropped into the main Futures Dashboard for Kwenta. From here you can see the leaderboard and markets available as well as open positions. Select any of the available markets to start trading.
Once you have selected the asset you wish to trade, you will be brought to the assets’ main dashboard. (Please note that each market is isolated from one another, meaning any sUSD will only be available to the asset it was deposited to.)
Connecting Your web3 wallet
If your wallet isn’t already connected, you’ll want to hit ‘Connect wallet’ at the top right of the screen and follow any MetaMask prompts.
Switching MetaMask Networks
You must be connected to the Optimism Kovan Network; unless previously changed, it will default to the Ethereum Mainnet. You can switch networks by clicking the puzzle icon at the top right of your browser and selecting the MetaMask extension. When MetaMask opens, you can switch networks by clicking ‘Ethereum Mainnet’ and from the drop-down menu select the ‘Optimistic Ethereum (Kovan)’ .Your testnet sUSD balance should now display in the bottom right corner. The balance will match the amount of sUSD you hold in MetaMask.
Depositing sUSD into the smart contract
sUSD must get deposited into the contract of the asset you wish to trade. This is done by selecting ‘Deposit Margin’ and entering the amount that you’d like to transfer. Once you've decided on how much to deposit, hit ‘Deposit Margin’ once more, triggering another MetaMask request.
Removing sUSD out of the smart contract
Removing sUSD can be done by selecting ‘Edit’ at the bottom right of your screen. In the pop-up window you can either deposit additional sUSD, or withdraw it by switching to ‘Withdraw’ . You can withdraw max or specify an amount to take out.
Opening a Position
You are now ready to open positions on Kwenta's Futures Platform. Let's open a Long position by selecting 'Buy'. Entering a position size can be done multiple ways: you can either enter the amount you'd like to purchase into the text box, slide the leverage slider, or type in your desired leverage. Once satisfied with your order hit ‘Submit Order’. After hitting submit, Kwenta will display a confirmation screen showing the details of your position (Please note your liquidation Price). Hit confirm order if you are ready to place the trade.
We have now successfully executed a buy order for sBTC, and our positions tab has been updated to reflect that newly taken position.
Closing a Position
Ready to exit your position? The easiest way of closing a position is to hit ‘Close Position’ in the open positions hero card. This will close your position in its entirety. If only wanting to close the position partially, select ‘sell’ and specify the amount you wish to reduce.
For demonstration purposes, we first reduced our position and then fully closed the position using the ‘Close Position’ button.
Switching between assets
Switching between assets can quickly be done by selecting the drop-down menu in your order entry panel; when selected, a drop-down menu will appear with any assets selectable during the competition.
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To trade synthetic assets and futures, visit Kwenta.