Introduction
As we approach the launch of the Zaros Trading League Pre-Season, it's essential for you to gain a thorough understanding of our platform and its key features to ensure your successful participation.
If you missed our previous articles on perpetual futures, you can find Part 1 and Part 2 for reference. In this article, we’ll provide insights into what you can anticipate from our leverage trading DEX and how to navigate it effectively. Get ready, because we’re building something great and you have the chance to be the first one using it!
Product Features: Leverage Trading DEX
When it comes to our product, we’ve got several different data sets and sections that you need to understand before trading perps.
These can be categorized into five groups:
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1: Market Data
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2: Price Chart
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3: Trading Activity Panel
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4: Order entry & Margin Overview
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5: Trades
Now, let's delve into each of them.
1. Market Data
The Market Data section is pretty straightforward. There, you’ll find information about the trading pair you’re in, including the current asset price provided by Chainlink It also displays the highest and lowest prices in the past 24 hours, along with the percentage change for reference.
Moreover, you’ll find perhaps the most crucial metrics to keep track of while trading: the 24-hour volume, open interest for long/short positions, indicating the total notional value on each side, and the funding rate.
If you're unfamiliar with these terms, we suggest referring to our previous article.
Upon choosing the trading pair you wish to explore, you'll see a user-friendly screen displaying all available markets, along with supplementary information to assist you in making an informed decision.
2. Price Chart
For seasoned traders, our price chart model ensures you won't miss a beat, as it incorporates Trading View.
In this interface, you can opt for various time frames, select your preferred chart type (e.g., Candles, Bars, Lines), and utilize different indicators like Moving Averages, Momentum, and Oscillators to enhance your analysis.
3. Trading Activity Panel
This panel allows you to monitor your perpetual futures activity. You can switch tabs to view your positions, current unfilled orders, and your order and trading history to review past activity.
In the position tab, you can review your size, entry, current, and liquidation prices, as well as your initial margin, maintenance margin, and unrealized and realized PNL.
Importantly, you can also alternatively set take profit/stop loss triggers or close positions at limit or market prices.
It's an incredibly user-friendly tab that allows you to effortlessly track your trading activity.
4. Order Entry & Margin Overview
When initiating a position, it's crucial to comprehend all the information on your screen to avoid making unwise decisions.
The order entry field is where you input your order details. The process is straightforward on our platform. Firstly, you can choose your margin type, which will be initially available only in the cross-margin mode.
On the right, you select your leverage amount, and then below your position size. Additionally, you can tick the small TP/SL box to set your desired triggers.
- If you opt for the limit order type, you'll also need to enter the limit price at which you wish to either go long or short the asset.
At the bottom of the box, you'll find crucial information about your account's margin, including your margin mode, initial margin (IM), maintenance margin (MM), and your account balances.
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IM: This is the amount you need to deposit to start a trade.
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MM: If your account falls below the specified maintenance margin level in futures trading, you'll receive a “margin call”. This indicates that you must promptly deposit enough funds to restore your account to the initial margin level. Failure to do so may result in the closure of your position.
Market Buy/Long | Limit Sell/Short
Next, we'll showcase the screen that appears when you choose either a market buy/long order or a limit sell/short order – The process is the same for the opposite actions as well.
When the screen appears, carefully review your order details and, at the bottom, set your slippage tolerance. Take note of the potential price impact your order might have – Remember, our platform does not operate under a traditional order book model.
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Slippage Tolerance: Slippage refers to price changes caused by external market movements. By choosing the tolerance, you determine the acceptable amount of slippage for your order to be filled.
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Price Impact: [Price Impact] represents the effect of your trade on the market. On our platform, we offer information about how much your position is likely to impact the broader market. This allows you to assess whether it makes sense for you to enter the trade.
Take Profit / Stop Loss Triggers
When you check the TP/SL box, you'll encounter the following screen:
The process here is simple: choose the price at which you want to automatically take profit or close a position to prevent further losses. If calculating the exact desired price is challenging, you can simply input the percentage change (ROI) you’d like!
Margin & Leverage
Finally, referring back to the point about selecting your margin mode and leverage details, the box that will appear on your screen when you attempt to change it is displayed below.
It is an easily understandable screen where you can adjust your preferred leverage and choose your margin mode (initially, only the cross-margin mode will be available).
Moreover, we provide information on the maximum position you can set with your current selected margin.
Remember, the higher the leverage, the higher the risks of liquidation!
5. Trades
While we don't operate under an order-book model, we offer a section where you can view the most recent trades executed on Zaros.
This section provides information on the filled order's price, size, and timeframe, giving you insights into market activity, and who knows, you might spot some trading whales in action!
Why choose Zaros?
While reading this article, you might have noticed that our leverage trading DEX bears a resemblance to other perpetual futures exchanges, particularly the prominent ones in the market, such as Centralized Exchanges (CEXs).
Indeed, it's true that many traders currently prefer CEXs as their primary trading platforms. That's precisely why we've designed our platform with this familiarity in mind, striving to offer the most seamless user experience. However, here's the catch – we address all the concerns typically associated with centralized entities.
We deliver a CEX-like experience within a decentralized environment, ensuring complete transparency, safeguarding against the misuse of user funds, and preventing market manipulation.
Furthermore, we can safely say that we’re forging a distinctive path in the perps industry. Zaros harnesses the deep liquidity of Liquid Staking Tokens (LSTs) and Stablecoins on Ethereum to bootstrap a perpetual futures market in which traders can participate on Arbitrum!
We seamlessly merge the best aspects of two worlds: unparalleled liquidity from the most reputable blockchain and the versatility of the largest Layer 2 solution, offering traders the ability to engage with minimal gas fees and high throughput, all while being sheltered from concerns about liquidity fragmentation.
To guarantee a secure trading environment for our users, we have implemented two crucial features within the platform: eClusters and a smart funding rate algorithm. These innovations not only expand the variety of perps markets but also ensure the economic sustainability of the liquidity pool.
For a more comprehensive understanding of our protocol's capabilities, we invite you to explore this detailed article.
Final Message – Zaros Trading League Pre-Season
Now that you have a grasp of our leverage trading DEX's functionalities and are eager to start trading, make sure you seize the opportunity to sign up for the Zaros Trading League Pre-Season!
Our sign-up process is accessible to the general public, welcoming all participants. To begin, users should simply join our Discord server and navigate to the #whitelist channel, where they can conveniently provide their wallet addresses and link them to their respective Discord accounts.
This event marks a significant milestone in our project's journey, enabling us to cultivate stronger bonds with our community and collect your valuable insights.
Throughout the pre-season, participants will compete for the highest accumulated PnL to progress through 6 different ranks, each represented as an NFT that can be staked within our platform and the competition is publicly related to our future air drop campaign.
1. Giga Chad
2. Chad
3. Platinum
4. Gold
5. Silver
6. Bronze
By staking these NFTs, participants will accrue value in preZRS rewards. These rewards can be later converted to ZRS tokens at a 1:1 ratio upon the official launch of our mainnet.
Below we show detailed information about the rewards and rankings. Access the following Twitter Thread for more information.
We can’t wait to see you there!
To stay informed and catch every update, be sure to follow us on Twitter and join our Discord server!