💡Getting Started
What do I need to trade on Symmetry?
A web3 wallet. Symmetry currently supports MetaMask, WalletConnect and Coinbase Wallet.
ETH for gas and USDC to trade on Symmetry. Both should be on the Scroll layer 2 network.
You can use Scroll's official bridge to bridge your assets between Ethereum mainnet and Scroll.
Bridge ETH and USDC onto Scroll.
Start trading!
Onboarding
You can open Symmetry on your computer or your phone (with the default browser or the wallet app's built-in browser). Symmetry aims to provide a fast and convenient trading experience to all our users. We are currently testing a feature that will bring you an app-like trading experience. More details will be revealed soon!
Make sure to switch to Scroll before you trade
If you have any questions for the dev team, or simply want to chat with the community, here's where you can find everyone:
Telegram: https://t.me/symmetry_trade
Twitter: https://twitter.com/symmetry_trade
Dashboard
Key Info
Deposit USDC for trading. You would need to deposit at least $50 to be able to place orders.
Margin Balance: Your margin balance is the sum of your deposited USDC and your trading P&L. If you are just starting to use Symmetry and haven't opened any positions yet, your margin balance will be equal to your deposited USDC.
Buying power: Buying power is the amount you can use to place orders based on your current account situation. Please note that because you would need at least a $50 margin balance to open new positions, if your current margin balance is less than $50, your buying power will be 0.
Margin ratio: monitor your margin ratio regularly. When it exceeds 100%, it will trigger liquidation.
Your positions: You will see all your existing positions here.
Now you are ready for trading.
Placing a Trade
Some of the basic terms you might want to know before placing a trade:
Long/short:
Make sure you are opening the desired position before placing a trade. You can check out the detailed explanation for long/short position here.
Market/limit order:
When placing a market order, the price you see on the right is the estimated filled price:
Market orders will be executed in real-time
A limit order is an order to buy or sell with a restriction on the maximum price to be paid (with a buy limit) or the minimum price to be received (with a sell limit). If the order is filled, it will only be at the specified limit price or better.
Symmetry will automatically fill in the market price in the blank if you click on the "market price" box. The default expiry time for limit orders is "Til canceled," so don't forget to change it if you have other ideas in mind.
Max Allowed:
In addition to entering the exact desired amount, you can also choose the percentage under "Max allowed." Please note that the amount is calculated based on your buying power, not your margin balance.
Slippage:
If you are placing a market order, you will see the slippage percentage under "Max allowed." Slippage is the maximum price slippage tolerance when your order is executed. If the price exceeded the chosen percentage, your order will not be executed. The default slippage is 0.5%.
Funding:
Funding is a mechanism to encourage opposite-side positions when open interests are skewed. Long positions pay short positions when the funding rate is positive, and vice versa. Refer here for detailed and technical illustrations.
Check your dashboard regularly and if you see the following, a funding rate has been applied to your position.
(Testnet images for illustration purposes only)
Skew
The two ratios shown represent the ratio of open interests on the long and short sides. That is, the "green ratio" = , the "red ratio"=
A bias towards long positions prompts a positive trend in the funding rate, whereas a bias towards short positions leads to a negative trend in the funding rate.
Charts
You can always adjust the chart for its content (price vs. funding), its timeframe (day, weekly, monthly, etc.), and its style (line vs. candle).
Funding / Price
Timeframe
Candle / Line
Position
All your existing positions of the corresponding asset will be shown under the chart as "Your position".
You can reduce or close the position, or put a stop-loss to it anytime you want to.
Orders / History
You will find all your current/history orders under this section.
Check the "Show all trading pairs" box if you want to see all the orders of different assets in one list.
Download your order history in CSV format by clicking "Download".
Liquidity
Providing liquidity and holding symLP tokens is a simple way to grow your USDC value with Symmetry. Currently, 70% of trading fees collected across all trading asset pairs are allocated to symLP holders in the form of USDC.
Becoming a symLP holder
You can easily mint symLP with USDC by putting in the desired amount on the "Liquidity" page.
There's no minimum requirement on the amount of USDC required to mint.
No minting fee.
No need to pre-deposit your USDC to Symmetry. Simply bridge the USDC to your address on Scroll and connect the wallet with Symmetry. You will see the available USDC balance on the website.
The default slippage rate is 0.5%. Your transaction will be canceled if the price changes unfavorably by more than this percentage after the transaction is submitted. You can change it to any desired percentage before confirming the transaction.
You will see your symLP balance on the Liquidity page.
Redeeming your symLP to USDC
You can redeem any amount of your symLP at any time. There is no lock-up period and no minimum required amount.
Redemption fee: 0.1%.
The default slippage rate is 0.5%. Your transaction will be canceled if the price changes unfavorably by more than this percentage after the transaction is submitted. You can change it to any desired percentage before confirming the transaction.
Refer to the "Minimum to receive" amount for the amount of symLP/USDC you would receive when minting/redeeming. For a detailed calculation of the mechanism behind it, please refer to the illustration here.
Last updated