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Get Started Trading
Start trading on DXS in less than 5 minutes and claim your Bounty Trading rewards!
To get started simply:
- 1.
- 2.Deposit USDC, USDT or DAI stablecoins into your Fiorin wallet
- 3.
If you need extra help, we’ve documented every step of the process for you here:
Make sure you store a copy of your seed phrase somewhere safe! Your seed phrase is the only way to recover your Fiorin wallet! Additionally, you will need your seed phrase every time you sign into Fiorin with a new browser.
Fiorin supports USDC, USDT and DAI ERC20 stablecoins from Ethereum. Once you select your desired stablecoin in Fiorin, it cannot be changed!
Fiorin has a built-in bridge smart contract, allowing deposits of USDT, USDC and DAI ERC20 stablecoins from Ethereum. As part of Fiorin’s security procedures, ERC20 stablecoin deposits cannot be made until you specify an Ethereum withdrawal address. Once specified, the withdrawal address cannot be changed.
Notice that banner communicating that 200% of any gas fees paid on deposits and/or withdrawals are credited to the your Bounty Trading account on DXS!
Once a withdrawal address has been specified, clicking on RECEIVE will show your USD-ERC20 deposit address. Click copy or SHARE to copy the deposit address to your clipboard.
The below example demonstrates a $54.50 USDT transfer from Binance to Fiorin. You simply need to paste in your deposit address, select the Ethereum (ERC20) network and specify the amount to transfer.
Ethereum deposits will show in your Fiorin wallet after 5 minutes. Your first deposit will be expensive because Fiorin’s bridge smart contract consumes significant gas when processing a first-time user. Subsequent deposits require 4.3x less gas.
The below example shows the initial $54.50 USDT transfer from Binance less $4.50 in Binance gas fees, less $11.38 in Fiorin smart contract gas fees. A total of $15.88 of gas fees paid in total.
Do not despair! Gas fees are not wasted. 200% of any gas fees paid (on deposits AND withdrawals) are credited to your Bounty Trading account on DXS! In this case, the Bounty Trading credit is $15.88 * 2 = $31.76
Clicking on the deposit line in the above gif opens the receipt of the transaction in a third-party block explorer service. The deposit amount of $38.62 USDT can be verified on the blockchain.
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The below gif is a $10 short position on the FTM/USD pair using $1 margin (10x leverage). $1 is immediately deducted from the user's Fiorin wallet to open the position.
The $10 short position on FTM/USD is closed at a profit. $1 margin is immediately returned to the user's Fiorin wallet.
Remember, USD-backed trading on DXS is still in beta, as such the USD liquidity pool is very small and the risk of profit deductions (as seen below) is high.
The summary of the closed trade can be found in the 'History' section of the positions tab. There are links to the opening transaction (margin commitment) and the closing transaction (margin return). The profit transaction is due to be paid at the end of the current 8 hour trading session (1h 1m remaining):
