Actual Testing on Tamago Finance
Thank you to the community members who took time out of their day to help us test out our product. The feedback and suggestions you guys provided is very helpful to us. Your engagement is very meaningful to us too!
During the weekend, we added more wallet options for our users. Not only do we support MetaMask, but we also support imToken, WalletConnect, and Wallet Link now.
We slightly improved the UI/UX on the trading features by adding “Buy” and “Sell” buttons on both the Long and Short Tokens. This makes it simpler for our users to trade. Besides, users can now input stablecoin amounts instead of only inputting the leveraged token amounts.
We also added several new assets on the platform. We have Matic, Chainlink, Binance Coin, Crypto related synthetic leveraged tokens; HKD, and JYP forex related synthetic leveraged tokens. This allows users to participate in both crypto and traditional markets.
Tamago Finance is now also available on Polygon(Matic) mainnet. Here is the first test trade I did on the Polygon(Matic) mainnet. I want to walk you through the steps so you can have a great trading experience as well. I’ll be sharing my trade result in the end.
First, I prepared some $ETH (gas), $MATIC (gas), and $DAI (stablecoin to start trading on Tamago Finance) on my Metamask Ethereum mainnet, then I used the Polygon bridge to transfer my assets to Matic mainnet.
Please note that the Matic bridge took some time to process. This is the only step that will take some time in the whole trading process. However, you could also use some CeFi solutions like Binance to transfer your Matic and DAI into your wallet on Polygon.
After the $MATIC and $DAI token had been transferred on Polygon mainnet, I visited the Tamago Finance website and clicked on the “APP[Alpha]” on the top right corner.
Check the disclaimer carefully and connect with your wallet. We encourage you to use a small amount of DAI to paper trade at this stage.
Connect with your wallet on Polygon(Matic) mainnet and select the asset that you want to trade.
I did a HKD trade. Bought the HKD 4X leveraged short token. Because my view was that the US Fed will increase their interest rate, so in the long run USD will go up and HKD will go down. (Please be aware that this is not any financial advice, it is only my personal view on the asset during this specific period)
Below is a quick intro about leveraged tokens. Leveraged tokens are innovative ERC20 assets that give anyone leveraged exposure to cryptocurrencies, equities, index funds, and other assets. The architecture allows for the creation of arbitrarily complex derivatives with fungible short and long positions without the need for active position management. Users don’t need to be worried about their position getting liquidated because of the volatility.
Then I sold my HKD 4X Short tokens after 3 days and earned around 9.195 $DAI. This is just one of my paper trades and I am going to test more this week.
For new users who want to give it a try and help us to improve our product’s functionalities.
3 steps to remember:
- Select the asset you want to trade.
- Choose whether you want to purchase Long or Short tokens, and pick the leverage times you feel comfortable with.
- Input the token amounts and wait for the quote price show up then click process
That’s how simple it is.
We currently support Polygon Mainnet, Mumbai Testnet, and Ethereum Kovan. More chains will be added over time. We will distribute incentives to early users! Please stay tuned by joining our Telegram and feel free to report any issues to us. We appreciate your support and will continue improving our product.
About Tamago Finance
Tamago Finance is a synthetic instrument that enables users to gain exposure to any financial market with no friction or intermediary. Tamago Finance is designed with a focus on usability and user experience.
Tamago (たまご, 玉子, 卵) means egg in Japanese. An egg is an ingredient that is used in many different types of food. It can also be used as a menu in every household because it is easy to use. An egg is also rich in nutrients which has many benefits for your health. Just like our product, an egg is easy to use and users will gain benefits from it too.
Follow us on social media:
Twitter: https://twitter.com/TamagoFinance
Telegram: https://t.me/tamagofinance
Discord: https://discord.gg/2tXjZ6Kb
If you see potential in what we are building and want to build with us, feel free to join our telegram. Lastly, if there is anyone you know that could help with our project, please help us connect to them.
