UniMex — Margin Trading Guide
Unimex is a Margin Trading platform for Uniswap assets. Currently it is in closed beta, but will soon be released to the public. Margin trading allows you to leverage your assets to take higher risk exposures, for a simplified overview of the platform, click here.
In this article, I will be breaking down all the necessary steps you will need to take, and terms you need to know, to start leveraging your portfolio for higher gains today (or when you have access.)
Terminology
Long — a bet that the price of an asset will increase.
Short — a bet that the price of an asset will decrease.
Leverage — a multiplier of risk/reward on your position. 2x leverage = twice the risk/reward.
Position — either a long or short trade, open means it’s active. Closed means it’s already elapsed.
Obtaining WETH
The first thing you’ll need to do in order to use the platform, is acquire some WETH (wrapped ether), which is the synthetic version of ETH. This is very easily done using the “Swap Tokens” tab at the top of the UniMex application. It’s totally reversible, and a 1:1 conversion with ETH.
Once you’re there, just simply enter the amount of ETH you’d like to “wrap” and then hit swap, confirming through your wallet — then you’re ready to go!
Depositing your WETH into your Margin account
Now that you have WETH in your wallet, you need to deposit it into your Unimex Margin trading account.
Once you hit deposit, enter the amount you wish to deposit : you’ll be asked to approve. Once the transaction is approved, hit deposit, and another wallet transaction to deposit the funds will be requested, once this is processed — you’re ready to trade!
Making a Margin Trade
In the top left, you’ll be able to select the pair with which you wish you open a long or short position on.
In the drop-down menu, you can easily choose which pairs you’d like to open a position on.
Once you’ve chosen your pair, then you can enter into a position. For our example, our given pair is UMEX/WETH. You can open a long/short on this pair, by choosing the respective position, entering your position size (Which is recommended to be at least 1ETH), and hitting the Open Position button at the bottom.
Once this processes, you’ve officially opened a position — which will appear under the “open positions” tab, in the center bottom of the screen.
For more information on Unimex, please check out my simplified article, or any of the below resources.
Resources
- whitepaper : https://unimex.finance/Unimex-Whitepaper.pdf
- website : https://unimex.finance/
- uniswap : here
- CMC : https://coinmarketcap.com/currencies/unimex-finance/
- telegram : https://t.me/UniMexFinance
The Selective (written by)
- telegram : https://t.me/TheSelectiveApe
- telegram announcements : https://t.me/TheSelectiveApes
- twitter : https://twitter.com/UniswapD
