DERIVATIVES TRADING ON DEX WITH 3S WALLET
Currently, derivatives trading on DEX has become more popular thanks to its safety, decentralization, and convenience as much as CEX. With 3S Wallet, investors can easily connect to DEXs to trade derivatives with just one simple gesture.
Using decentralized exchanges allows investors to freely trade without being controlled by any organization, and have full control over their assets with a higher level of security. With the advantage of liquidity, and especially derivatives trading, in the past, most investors still preferred centralized exchanges. However, this stereotype has fundamentally changed after the explosion of dYdX - a decentralized derivatives exchange that was formerly a Layer 2 scaling solution, and now a Layer 1 blockchain built on Cosmos. After dYdX, a number of decentralized derivatives exchange projects were also launched, giving users the ability to trade derivatives in a safer, more transparent and decentralized way.
Cryptocurrency derivatives exchanges have traditionally relied on centralization to organize lending and borrowing for margin trading and perpetual derivatives contracts. However, smart contracts have facilitated decentralized liquidity pools, which can be used as collateral for lending on popular protocols such as Uniswap, Compound, and Sushi.
dYdX combines decentralized financial technologies for the first derivatives exchange using only investor-contributed liquidity. In practice, this means that when you deposit collateral to open a leveraged trading position, you are borrowing from a decentralized liquidity pool that is fully funded by other traders.
To trade derivatives on a decentralized exchange, here are very simple steps investors can take with 3S Wallet:
- Go to a decentralized derivatives exchange (e.g. DYDX)
- Connect your 3S Wallet
- Make a deposit, then choose a transaction.
- Open a position with selected leverage (if applicable) & limit.
- Monitor P&L and collateralize your position as needed.
3S Wallet is a blockchain wallet developed by BHO Network, built on three main pillars of Simplicity, Security and Safety. 3S Wallet is refined to simplify the interface and operation, giving users the smoothest and easiest experience. With 3S Wallet, users can connect to Dapps, as well as derivatives decentralized exchanges to trade and seize opportunities while ensuring full control of their assets.
In addition, 3S Wallet is currently implementing a Rewards program with an attractive participation mechanism to help users earn more income. Anyone using 3S Wallet can join this program by inviting friends to use 3S Wallet and get passive income with your own system up to $20 for each successful referral.
Detailed instructions for 3S Wallet's Rewards program here.
Published on February 10, 2023
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