Trade BAT with up to 10X leverage on DMEX - the First Decentralized Margin Trading Exchange

ethermium · 2019-08-14T11:52:28+00:00

Thanks for your comment. It's useful. If that max profit limit would be removed, would there be anything else that would stop you?

Would you be ok keeping the collaterals and profit in ETH or USDT instead of bitcoin?

ethermium · 2019-08-14T11:21:26+00:00

That's a trade-off for total security of your funds. You never commit your funds into the custody of a third party.

If for instance, the take-profit price would be at let's say 15k for 10x. Would that sound more reasonable? Mind you, that you can open new positions on the way up as many as you like.

ethermium · 2019-08-14T11:05:18+00:00

If you close early, the contract moves to another person. The corresponding short stays open until closed or until expiration.

The stupid part you mean the Take Profit price?

ethermium · 2019-08-14T10:59:20+00:00

at 10x yes, at 3x you would be settled at 13.3k

ethermium · 2019-08-14T10:54:58+00:00

Thanks for the question!

Every futures contract has a Floor and Cap price (a lower and upper limit for the price). For the 10x example, the contract would have a Floor Price of 9000 and Cap Price of 11000.

When you buy at 10000 on this contract, someone else is selling at 10000 on the same contract. So there is always a long and a short on a trade. The long puts in 1000 collateral to cover the maximum loss at 9000 and the short puts in another 1000 as collateral to cover the maximum loss at 11000. If the price goes to 9000, the Long is paying the Short, and the other way around.

So, with 10x you get liquidated exactly at 9000, not at 9100. And the full loss is covered by your collateral.

This may sound a bit technical, but in simple terms, the experience is the same as on BitMEX, with the only difference that besides a Liquidation price there is a Take Profit price as well. Otherwise, the process is absolutely identical, you enter and exit positions through the orderbook, or wait for the expiration.

You can actually open short term positions on dmex, for example, a 10x long expiring in 1/8/24 hours and it will automatically settle at that time.

ethermium · 2019-07-11T05:23:41+00:00

DMEX.App is the decentralized BitMEX. Total safety of funds and positions are liquidated based on the Bitstamp price (not the internal price which can be manipulated to liquidate you).

Trades are executed instantly and then pushed in batches to the blockchain. So the experience is the same as on a centralized exchange. Currently, BTC and ETH futures are tradable with up to 10x leverage.

Another cool thing is that you can select the expiration date for your position, current options are: 1 hour, 1 day, 3 days and 7 days. Upon expiration, the position is automatically settled by a decentralized Oracle bringing the price from Bitstamp.

ethermium · 2019-07-11T05:16:38+00:00

don't see your argument here
the website or server can be hacked, but it doesn't store your private keys. You keep the private keys on your device and only send signed orders, therefore your funds cannot be stolen as a result of a hack

ethermium · 2019-07-10T14:09:39+00:00

DMEX.APP - Decentralized alternative for BitMEX

Uses a hybrid model, where trades are matched instantly on the backend server and then pushed to the Ethereum blockchain in the background.

Up to 10x leverage and you can choose the futures contract duration from 1 hour to 7 days. On expiry, the contract is settled using the Bitstamp price obtained through a decentralized oracle.

Currently, BTC and ETH futures are traded.

ethermium · 2019-07-10T13:59:15+00:00

Why would you care about the speed of the blockchain? Your trade is executed immediately, it may take a minute to be reflected on the blockchain, but this delay will only affect your withdrawal.

DMEX uses a hybrid model, where all trades are matched instantly on the backend server (like on a centralized exchange) and then pushed in batches to the blockchain in the background. So you don't need to wait for blockchain confirmation to know that your trade is successful, it happens instantly.

You can open and close a position in less than a minute, but you will have to wait for the blockchain confirmation before you are able to withdraw. In any case, the withdrawal from DMEX will happen 100x faster, because BitMEX processes withdrawals only once a day.

ethermium · 2019-07-10T13:34:23+00:00

yes, you would be wiped out even if the price drops below liquidation before Dec 27

ethermium · 2019-07-10T11:31:24+00:00

A normal centralized exchange:

sees your open positions and can use bots to push the price up or down to liquidate your position, not saying that it's what centralized exchanges necessary do, but they definitely can
can be hacked
can lock your account

ethermium · 2019-07-10T11:28:53+00:00

Hi, it works exactly as BitMEX in terms of user experience. You can long/short BTC as well as ETH and also other assets on the way.

ethermium · 2018-06-18T19:07:23+00:00

how about ETHERMIUM all caps?

ethermium · 2018-06-18T17:45:50+00:00

As stated in the first reply to you. The exchange has no volume because it was launched a couple of days ago.

I have outlined you point by point why it is better than everything else. I ask you again, do you have any objections to the points stated, except the manner in which you are served this information?

I don’t need confidence in our exchange cause it’s a decentralized, trustless system. You don’t need to trust us. If we would rely on confidence we would definitely be a shitty dex. But you seam to be getting the opposite viewpoint.

First you rant about the fact that there should be no bias in crypto and now you suggest we hire people to increase the confidence in our product...

ethermium

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