Decentralized Trading With 150x Leverage

By HKMan | HK Blog | 18 Dec 2021


gTrade is a decentralized trading platform on Polygon. It's not without its competitors but it stands out among them for a number of reasons. The biggest difference being the insane amount of leverage you can take advantage of. Leverage doesn't come without its risks and here's where gTrade really comes into its own by giving users a practice mode where you can trade without the risk of losing any money on the Kovan Test Network. For those who like the sound of that I'll go ahead and explain how they can use this practice mode.

First things first:

You'll need a MetaMask wallet, it should come with the Kovan Test Network already configured but it may be hidden. All you'll need to do is click on "show/hide" as shown here and enable them. After that you'll some Ethereum, don't worry it doesn't cost you anything. All you'll need to do is head over to any Kovan testnet faucet and request some. I personally used this one. From there on out you'll need to head over to the site, if you're already there click on "Practice" at the top, if you're not just click this link and then you'll need to scroll down to where you can claim 10000 DAI and do just that.

That's about it, the rest is pretty self-explanatory. Choose how much Collateral and Leverage you'd like to use on the right of the screen, and start (practice) trading.

Actual Trading

If you're interested in actually using this site for leveraged trading you'll need at least 35 DAI on the Polygon Mainnet. You can follow this guide or any other one to set it up on MetaMask and you can use FixedFloat to get your Polygon Mainnet tokens. Some exchanges may only have the ERC-20 version which is not the one you want. Aside from that you should always be careful with leverage, if you don't really understand it you should try out the practice version first. Either way, happy trading.

 

 

 

 

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