Mainnet Guide — BracketX (Arbitrum)

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Check the status of previous airdrops https://docs.google.com/spreadsheets/d/1agcpqrYDJg0cX12jC7nrtrbC20aZxweub0M6fBUVPUI/edit?usp=sharing.

TLDR: Arbitrum Mainnet, $10 minimum, Potential Airdrop

Introduction

BracketX (Twitter: https://twitter.com/Bracket_Labs_) allows users to get up to 10x long or short leverage on top digital assets in a new product called Bracket. They are one of the projects in the Season 5 Binance Labs Incubation Program.

Rules

Early BracketX contracts purchased on mainnet will get special NFTs that will appear in your wallet :

First 250 brackets: Diamond
First 1k : Black
First 5k : Gold
First 15k: Silver

Read here for details.

You can check how many NFTs have been minted here. (Currently at ~5.5k)

Guide

Getting Started:

BracketX is on Arbitrum and you will need at least $10 of ETH to buy a bracket.

Step 1:

Go to https://app.bracketx.fi/buyer and connect your wallet.

Step 2:

You can choose from a list of cryptos to buy brackets on. For example, let’s choose BTC.

Buy “LONG” or “SHORT” brackets depending on your market view. You will only be able to claim your payoff if the asset price is in the claimable range inside the respective time period.

You will lose your entire investment if the price isn’t in the claimable range so buy accordingly.

The key info that you need to know are:

Multiplier The max payoff potential a bracket has. In the example below, the BTC bracket is 10x long, which would be a MAX payoff of 10x the amount you invest if the bracket hits or exceeds the max price in the range (BTC at $23,192 in the example).

Term The duration of the bracket begins as soon as you purchase the bracket. In the below example, the bracket is “7 Days.”

Claimable range The range over which you can claim against the bracket. Initially, all brackets have a 10% range ($21,255 — $23,192 in the example). The bottom range is 0x your investment. Your return increases as the price moves up to the max 10x return at the BTC price of $23,192. At $23,192 or more, you can claim the full 10x payoff. Claim anytime during your term within the range. BracketX will auto-claim for you at the end of your term if in-the-money.

You can read a detailed user guide here.

Step 3:

After choosing your bracket, decide how much to invest (minimum $10) and confirm.

That’s it for the guide. Check Bracket Labs Discord for updates.