Getting Started with Trading
To start trading you have two options:
Use an existing Externally Owned Account (EOA) wallet like Rabby, Metamask, etc
Using a social login (Gmail, Telegram, Twitter) to use a wallet managed by Magic Labs. This is simpler for those who don't have experience on chain using crypto.
Externally Owned Account (EOA)
Connect to app.gammaswap.com by selecting "Connect Wallet" and choosing the EOA based on your preferred wallet.
Options include Rabby, Metamask, Coinbase Wallet. If you don't already have your own wallet, we recommend using Rabby.
After downloading a wallet extension for your browser, create a new wallet.
Your wallet has a secret recovery phrase. Anyone with access to your private key or seed phrase can access your funds. Do not share these with anyone. Best practice is to record these and store them in a safe physical location.
Deposit USDC from a centralized exchange. You can deposit directly from exchanges like Coinbase and Binance by approving Glide as an approved third party in your exchange account. You can then send funds without having to copy the wallet address.
If you don't want to approve a third party or have funds onchain, you can deposit from anywhere by selecting the right token and chain (USDC on Base) then copying the transfer wallet address. Be careful, if you send the incorrect token or to an incorrect chain you could lose your funds.
Once you've connected, select "Enable Trading" which handles your wallet approvals. This enables you to trade with minimal wallet interactions.
Social Login
Connect to app.gammaswap.com by logging in via a social login (Gmail, Telegram, Twitter) after clicking the "Connect Wallet" button. Follow the instructions which may be an email confirmation, code on your telegram app, etc depending on the sign in method.
Once you sign in, your wallet will be created for you by Magic Labs. Magic Labs uses passwordless and email-based authentication to manage non-custodial embedded wallets. To fund your Magic Wallet, either transfer USDC using the provided wallet address or use the embedded cash to crypto transfer options. You do not need to enable trading once logged in.
How to Trade
Prediction markets allow you to choose which direction you think an asset will go, "Up" or "Down", by the market expiration. If you choose "Up", you win if the current price is equal to or greater than the price to beat by expiration. Alternatively, if you choose "Down", you win if the price is less than the price to beat by expiration. You use USDC as margin instead of buying the token itself.
Note: many markets implement a Time Weighted Average Price (TWAP) to protect users from market manipulation and provide an improved trading experience. Please check the market description before trading.
To open a trade:
Navigate to the trade page on the application.
In the trade tool on the right side, choose whether you want the size of your order to be denominated in contracts or in the USDC margin requirement. Note that when choosing contracts, the contracts also represent the notional size of your oder in USDC.
Choose your side, "Buy/Up" or "Sell/Down", and the amount you would like to trade. After entering an amount, you can see your average cost and potential payout along with other relevant trade details.
Once you are ready, click . You can skip the second click here by using the one click trading option.
You will see your position in the positions table underneath the chart. You can close your position at any time or wait until settlement to claim your winnings.
You claim any wins from previous trades in the position history tab below the chart on the trade page or at the bottom of the portfolio page.
Last updated