MetavaultTrade

in #matic • 2 years ago

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Metavault.Trade is an exchange platform that provides decentralized crypto exchange services designed with various crypto features. Metavault.Trade provides spot & perpetual exchange services that allow users to trade with up to 30x leverage and directly from their personal wallet.

Metavault.Trade is an innovative decentralized exchange platform as it provides spot & perpetual exchange services where users can trade safely and easily without going through an account, but simply by connecting their wallet and they will be able to trade. So it is a decentralized crypto exchange platform with leverage and convenience for users.

Metavault Trade is a decentralized and perpetual exchange with low swap fees and trading without price impact. Trading is supported by multi-asset pools, which in turn are backed by liquidity providers.

Trading is supported by multi-asset pools, which in turn are backed by liquidity providers. Liquidity providers are rewarded through swap fees, market building, rebalancing and leveraged trading. MVX uses Oracle Chainlink and TWAP pricing from a large volume decentralized exchange for dynamic pricing.

Problem

Most of today’s crypto users trade through centralized exchange platforms. Through this exchange platform, users will be able to trade crypto easily and securely. But the problem is that usually centralized exchange platforms use KYC for their trading which is problematic for some as it is related to their identity and privacy. Whereas users should be facilitated with a crypto trading platform that will make it easier for them to trade and not ask for their identity so that users will be able to trade freely without worrying about their privacy.

The solution

And in response to this issue, Metavault.Trade was launched as a decentralized exchange platform that would not question the identity of its users. This service is provided by Metavault.Trade is a decentralized & perpetual exchange, which will allow users to trade quickly and securely with leverage through their personal wallets. Since it only requires a connection to the user’s digital wallet, it means that Metavault.Trade does not require the creation of an account for the user. Users will be able to trade their favorite pairs freely without worrying about their privacy.

Metavault Exchange Features

Low Fees — Very low transaction fees.

No price influence, even for large order sizes.

Simple Swap — Open positions via a simple swap interface. Easily swap from any supported asset to your preferred position.

Reduced Liquidation Risk — Protection against liquidation events: sudden price changes that often occur in a single exchange (“scam wicks”) are smoothed out by the design of the price mechanism.

Complete platform: spot trading and leverage.

Multi-asset pools — The key innovation at the heart of Metavault.Trade is multi-asset pools. This feature allows the platform to share liquidity across all the assets it supports.

Buy and sell

Metavault.Trade is a state-of-the-art Decentralized Exchange platform that does not require registration. To start trading on Metavault.Trade all you need is a Web3 wallet.

Connecting Your Wallet

Connect your wallet by clicking the “Connect Wallet” button in the header:

You must have MATIC in your wallet to start trading.

Open Position

To open a position, click on the “Trade” button in the header.

You will be taken to the trading panel. Click Zone 1 to select the currency you want to trade

Select a currency in the drop-down menu.

Then, in Zone 2 click “Long” or “Short” depending on which side you want to open the position.

Choosing a “Long” position results in a profit if the token price goes up and a loss if the token price goes down.

On the other hand, choosing a “Short” position results in a profit if the token price goes down and a loss if the token price goes up.

When clicking Zone 3 , a panel will appear where you can select the currency you will pay to open a position.

After selecting the currency you want to use, enter the amount you want to trade in the “Pay” section and use the slider to determine the Leverage to apply.

In the example below, we used 100 MATIC to open a Long position on MATIC with 4.8x leverage.

As you move the Leverage slider, you can see the Price and Liquidation Fee values ​​change accordingly. The Trading Fee for opening a position is 0.1% of the position size. There is the same closing fee of 0.1%.

In addition, “Loan Fees” are deducted at the beginning of each hour. This is the fee paid to the counterparty of your trade. Hourly fees will vary based on utilization, calculated as (assets borrowed) / (total assets in pool) * 0.01%.

The box below the position box summarizes the trade with: Entry Price, Exit Price (which is the price you would get if you closed the trade immediately after opening it), Borrowing Fee and available liquidity in the pool.

Before confirming the transaction, a pop-up will appear summarizing all the relevant data and giving you the option to set the slippage to a higher value.

See the next section for Default Slippage Settings.

Set Slippage

Slippage is the difference between the expected price of the trade and the execution price.

Due to the deep liquidity offered by the Metavault.Trade pool, there is no price impact for trades, however slippage can occur due to price movements between when your trade transaction is submitted and when it is confirmed on the blockchain.

The maximum slippage you receive for a trade can be adjusted by clicking on your address in the header and on the Settings button accessible from the dropdown menu.

Position Management

Once opened, your trade is added below the chart, in the Positions list.

You can visualize your entry and liquidation prices on the chart by checking the “Chart position” box in Zone 1 below:

You can set your position by clicking on the three little dots in Zone 2 . A pop-up will appear allowing you to deposit or withdraw collateral. You will see the effect of this action on your leverage and liquidation price.

Deposit Guarantee:

Collateral Withdrawal:

Leverage for positions is shown as (position size) / (position guarantee). If you want to display leverage as (position size + PnL) / (position guarantee), you can adjust this by clicking on your address in the header and on the Settings button in the drop-down menu.

Closing Position

To close the position completely, click the “Close” button in zone 2

By selecting the “Max” button in the pop-up window. You will get a summary of PnL and fees before confirming the transaction. To partially close a position, enter any amount below the maximum possible.

You can choose the currency in which you want your balance to be paid when you close the position (Last section -> Accept)

Stop-Loss / Take-Profit Orders

You can set stop-loss and take-profit orders by clicking the “Close” button and selecting the “Triggers” tab.

Here you can also select the currency in which you want your balance to be paid when you close the position (Last section -> Accept)

Please note that the amount of assets desired to be received depends on the exchange rate at the time of execution.

The trigger order you just created now appears in your line of positions, as well as under the “Orders” tab where you can cancel or edit it, changing the trigger price if needed.

It will also be displayed on the chart if you check the “Chart position” box.

If you manually close a position, the corresponding trigger order will remain open, you have to manually cancel it if you don’t want the order to be active when opening future positions.

Please Note that orders are not guaranteed to be executed, this can happen in several situations including but not exclusive to:

The mark price which is the aggregate of the exchange prices does not reach the specified price

Set price reached but not long enough to execute

No guards take orders to be executed

In addition, trigger orders are market orders and are not guaranteed to be executed at the trigger price.

Partial Liquidation

If the market goes against your trade, there will be a price at which the amount of loss is very close to the amount of the guarantee.

The Liquidation Price is calculated as the price at which (collateral — loss — borrowing costs) is less than 1% of your position size. If the token price passes this point then the position will be closed automatically.

Due to borrowing costs, your liquidation price will change over time, especially if you are using more than 10x leverage and opening a position for more than a few days, so it is important to monitor your liquidation price.

Price

Thanks to its innovative design, there is no price impact for trading on Metavault.Trade, even for large orders. This means, you can execute large trades right at the mark price.

The price mark is displayed next to the market name and below the swap box.

Long positions will be opened at a higher price and closed at a lower price while short positions will be opened at a lower price and closed at a higher price.

Another advantage of this platform is that there are only small spreads for entering and exiting trades. In the example below, neither spread nor entry and exit prices stay the same.

Team

Metavault.Trade is built by professionals and experts in their field who have years of experience in blockchain technology and understand the crypto market. The team collaborated together in developing a decentralized exchange that would be used by many people globally easily and securely. With this collaboration, it is hoped that users can get the best service, where they can transact safely, quickly, and at lower costs through their devices.

Multiplier Points

The staked MVX receives Multiplier Points (MP), which allows the holder to earn a protocol fee dividend. Each multiplier points generates the same amount of MATIC as the MVX token.

The longer the MVX is staked, the more MPs the staker gets.

However, unstaking MVX or esMVX will mean the same number of multiplier points is burned. For example, if a person releases 50% of MVX, he will lose 50% MP. Resetting MVX will start collecting MPs from 0.

Tokenomics and community

Metavault.Trade is built by the team behind Metavault DAO who drives the entire blockchain ecosystem and technology project.

This code is a GMX friendly fork, audited by ABDK Consulting [Find the audit here under the name ‘Gambit’, GMX project real name].

Since security is of the utmost importance, an independent audit will be completed soon.

After careful consideration of the GMX tokenomics, the DAO Metavault team opted for a complete redesign for Metavault.Trade. As a result, most of the tokens have been allocated to those who invest in the platform (for example, staking) compared to GMX. Tokens are also launched in a fair manner, with no private spins or seeds.

Metavault DAO intends to be a liquidity provider on Metavault.Trade, which will make it strong and self-sufficient.

There is already a strong community that supports Metavault.Trade, such as those who follow it via Telegram, Twitter, and Discord channels.

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