🤝Making a Trade

Getting Started on LODE

1. Connect Your Wallet & Set Up Your Account

• Start: Agree to the Terms, click 'I Accept,' and follow the setup instructions provided by the trading wizard.

• Connect: Choose 'Connect Wallet,' select your wallet type, and follow the prompts.

• Create Account: After connecting, name and create your account by following the on-screen instructions.

To create a sub-account for position isolation, select 'Create Other Account' under your main account profile.

2. Deposit Collateral

• Deposit Action: Click 'Deposit,' input your USDC amount for collateral, and confirm the transaction in your wallet.

3. Select Trading Asset

• Asset Choice: Pick your trading asset from the pair dropdown menu, review the asset chart, and prepare for trading.

4. Configure Leverage & Trade Size

• Leverage and Direction: Choose your leverage, decide on a long or short position, and set your trade size. At this point, you’ve entered your intent to trade!

5. Trade Initiation

• Order Type: Choose between Market or Limit Order, confirm the solver’s streamed quote, and execute your trade by confirming the transaction in your wallet.

• Execution Speed: Choose whether you want 'instant open' or 'open'. Instant open initiates trades immediately.

6. Trade Execution

• On-Chain Request: Confirming your trade sends your 'Request for Trade' to the solver, locking in your collateral until the trade is filled.

  • Note: Your trade will be listed as 'Pending' until it is accepted by the solver (this typically takes a few seconds if you are not using 'instant open'). You can cancel the trade at any point while it is pending.

7. Monitor and Manage

• Stay Informed: Regularly review your positions and account health to maintain margin and avoid liquidation.

8. Closing a Position

• Close Order: Decide on a Market or Limit close, specify your position closure amount, and confirm your 'Intent to Close' in your wallet.

• Instant Close: You can chose to close your trade immediately with the 'instant close' option.

9. Close Execution

• On-Chain Closure: Your 'Request to Close' signals the solver to finalize the trade, updating your position status to 'Closed.'

10. Withdraw Collateral

• Withdraw: Go to the 'Withdrawal' section, enter the amount you wish to withdraw, and confirm the transaction in your wallet. All withdrawals undergo a 12-hour security phase for added protection.

A Note on Fees at LODE

LODE applies a 0.06% platform fee on all positions, charged upon opening. Additional costs include funding rates and the spreads quoted by solvers. Understanding these fees is essential for efficient trading and effective investment management on our platform.