In this guide, you will learn how to access the SynFutures V2 test network to prepare you for trading. Mint assets, trading and how to add/remove liquidity
Sign up for access to V2 testnet. here The MetaMask wallet is required for testing. View post. SynFutures Academy Our review is about creating a decentralized wallet. If you don’t have your MetaMask account yet.
Contents
· Part 1 — How to prepare for testnet trading
· Part 2—How to Build an Asset
· Part 3—How to Trade
· Part 4—How to Add and Remove Liquidity
Part 1. How to prepare for testnet trading
In Part 1 you will learn how to add Kovan testnet to your wallet and get Kovan testnet Ethereum.
How to top up your wallet with Kovan Testnet Ether
- To trade on Kovan Testnet, you need to make sure you are one of the first in the Kovan network. Go to the Metamask Extension in the upper right corner of your browser window. and check if the Kovan network is an option.
2. If it’s an option You can hit select and go to the next step. If not, you need to select “Show/hide” at the top of the UI (as seen in the image above), and then toggle the setting to show the test network.
3. After making this change You will be able to scroll down and select Kovan Test Network.
How to get Kovan Testnet Ether
To get Kovan Testnet Ether you need to visit this website: https://faucets.chain.link/
You will see a web page like this.
Connect your wallet by selecting “Connect wallet” in the top right corner of the webpage. After entering the CAPTCHA, select “Request”. If successful, you should see the following screen.
Now your MetaMask wallet has 0.1 ETH and is ready to trade on SynFutures V2.
In step 2, how to create assets.
In Part 2 of the V2 Testnet guide, you will learn how to create different tokens to trade futures on the Synfutures V2 platform.
1. To get started, go to https://v2-testnet.synfutures.com/ and you will see a web page like this
Please ensure you can only access testnet if your address is whitelisted. Sign up for accesshere
2. Start connecting your wallet by clicking the button. After this, make sure your MetaMask wallet is in the Kovan network and look to the left of the button. It will say that the connection to the wallet belongs to Kovan as in the picture.
3. Now you are ready to select a token from the list to generate coins. Note that you can only generate tokens if you have enough testnet Ether in your MetaMask wallet. Tap “Mint Test Token” and select the token you want to generate from the box.
4. After successfully generating your chosen token You may see that the tokens are not showing up in the “Assets” section of your Metamask wallet. You have to click on the contract icon next to the “Mint” button.
5. Metamask will prompt you to add the selected token. Tap on “Add Token” (Add Token).
6. You will now see the token under the “Assets” tab of your Metamask wallet and it is ready!
Part 3. How to Trade
In Part 3, you will learn how to start trading on SynFutures V2 testnet. We recommend reading Pars 1 and 2 before you begin the next step.
1. Go to the top right of the web page and click the button. “Connect to Wallet”
2. After connecting your wallet, you will see your wallet address displayed in the top corner. right of web page Make sure you select Kovan Testnet. Now you can proceed with choosing a trading pair.
3. After selecting your desired trading pair You will see the trading menu as shown below.
You can execute trades by entering your trade amount in terms of the selected asset and choosing how much leverage you want to use. You can use more than 5 times leverage by pressing on the slider to the right of the tab “Leverage after trade”
4. When executing a trade after pressing the “Buy” button, you will see the newly opened positions scroll down.
5. The “Positions” tab (as shown above) will display all important information about your open positions and the “Account” box on the right will display the net information based on your wallet address.
6. To close the same position (Position) you just opened now. You can press the “Close” button directly next to “Current position” and execute a new parameterized trade.
Or just open a new position opposite your previous one. (Buy if you choose to sell or sell if you choose to buy)
7. After doing this You will see that the location is missing under the Location tab. And now you know the P/L (profit and loss).
Congratulations, you just completed your first trade on the Synfutures V2 test network!
Part 4 Methods to Increase and Eliminate Liquidity
In Part 4 of the SynFutures V2 Testnet Guide, you will learn how to acquire and eliminate liquidity on the SynFutures v2 testnet.
1. After connecting your wallet to the SynFdutures V2 platform, select a trading pair from the market options box.
2. For this example We have selected the ETH/USDC trading pair to the “Pools” button next to “Trade”.
3. After switching to the pool tab You will notice a new “Add” box interface to the right of the main trading pairs tab.
4. The first time you provide liquidity to a certain trading pair, you will need to press “Approve” for the smart contract to use your token. After this contract is completed You will be able to add liquidity, now the “Approve” button will change to “Add”.
5. You can now enter the required amount to deposit and add liquidity to the selected trading pair. after the operation All open liquid positions and related information are shown below in the Liquidity tab.
6. To close a position, simply navigate to the “Remove” button to the right of the previously used “Add” tab.
7. Use the slider to select the percentage of liquidity you wish to delete, then press “Delete” at the bottom of the box to complete the transaction.
8. After the transaction You will no longer see open liquidity positions under the “Liquidity” field at the bottom of the page. But you can also select “History” in the top right corner to view the previous liquid positions you opened and closed.
9. You can now look at the “Account” tab on the right to view your account information.
10. Congratulations! You are now ready to become a liquidity provider on the SynFutures V2 platform!
But who is SynFuture?
SynFutures is a next-generation futures exchange focused on creating an open and reliable derivatives market by enabling trading on anything quoted. With its free market model and the increasing diversity of tradable assets, SynFutures is now reducing barriers to entry into the derivatives market. This creates a more equitable digital asset exchange market.
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