How-To Guide on Insured Trading through the SureYield APP

Step by step How-To Guide on Insured Trading through the SureYield APP

SureYield APP:

Chain Selector

Effortlessly switch between SureYield supported chains using the chain selector on the right side of the UI. Insured Trading is currently available on the Base network with Multichain expansion plans coming in the following months.

My Trades Info

The interface displays your current open trades stats for both long as well as short positions.

The total long/short values are calculated by multiplying the leverage (2x) with your deposited USDC amount.

Insured Trading Tokens

The list of trading tokens display:

-Token (ex: ETH, BTC) column represents the token you want to open a trade for.

-Leverage column displays the leverage your trade will be opened with (currently 2x).

-Take Profit column displays the price increase percentage at which your trade Take Profit price will be placed (currently 5%).

-Total Shorts column displays the total open interest on Short positions on that particular token.

-Total Longs column displays the total open interest on Long positions on that particular token.

-Price column displays the current Oracle price of the token.

SureYield uses the official Chainlink price feeds to determine the opening/closing price of a trade.

Open Trade

Opening a trade is a straightforward process: you simply need to enter an USDC amount and select a Short or Long direction. You will be asked to first approve the spending amount followed by the deposit transaction.

The trade opening box will display your Opening and Closing price (Take Profit Price) which is currently set at 5% from your opening price. Your earnings will be displayed, taking into account the 2x leverage the trade will be opened with.

Currently, the 2x Leverage and 5% Take Profit are fixed and cannot be changed. All trades get to be opened with these settings. The minimum trading amount is 100 USDC.

SureYield Insured Trading comes with no opening or closing fees, no rollover or liquidation risks either. The user can choose to keep a trade open for as long as he desires and close it either when the trade is in profit, or claim his insurance if the price went against the intended direction.

On SureYield your trade is fully insured, meaning that in the scenario where you would go Long, but the price decides to go down instead you receive your deposited trading value back, intact, in SYD tokens.

The amount of SYD tokens you receive is calculated using the current SYD token price at the time the user closes his trade. The SYD Oracle price has a 0.1% accuracy update threshold. There is no delay when closing a trade, meaning users don't risk receiving a lesser dollar amount than they are entitled to.

Trade example:

User goes Long by depositing $100 (USDC).

The trade is opened with 2x Leverage and a 5% Take Profit Price.

Scenario 1: price goes up a minimum of 5%. The user will earn $110

Scenario 2: price goes down more than 5%. The user can claim his $100 back.

User closes the trade: In both scenarios, the user will receive the Trade Value in SYD tokens at the current SYD market price.

Once you completed the transaction, the trade will display on the Open Trades list below.

Open Trades List

The Open Trades list will display your trades for the token you are currently accessing.

Each trade displaying information as:

Open Time: date/time when the trade was opened.

Type: Long/Short

Amount: USDC deposited amount

Leverage: currently 2x

Open Price: the token price at the time of trade opening

Take Profit: the price that needs to be reached for you to be able to close the trade in profit (currently 5%)

Trade Value: the current value of your Trade.

Price Change: the percentage movement of the price between your opening and current token price.

Action button: Wait/Close/Take Profit

Your trade can have 3 stages which will be reflected by the Action button label:

Wait - will be displayed after the trade was opened and the price is neither below or above the 5% TP. During this period there is nothing to be done but (you guessed it) wait.

Take Profit - will be displayed once the price moved a minimum of 5% on the intended direction. Ex: you went Long and the price increased 5%. At this point you can Take Profit and receive the 110% profit paid in SYD tokens. Regardless of how much the price increased above the 5% TP, your profit cannot increase over the 110% maximum (2x leverage x 5% TP).

Close - will be displayed once the price moved a minimum of 5% against your intended direction. Ex: you went Long and the price decreased 5% instead. At this point you can Close the trade and you will receive your full 100% trade value back in SYD tokens.

Last updated