Metric — Scalar DAO’s product for Margin Trading on DEXs is Now Live on Testnet

Follow the Guides here to test the product — ALL Testers to get Scalar DAO Token Airdrop

6 min readSep 11, 2023

The Scalar DAO protocol is NOW LIVE on TESTNET with its maiden product — METRIC — for Margin trading on DEXs ready for the public to test out thoroughly.

The product Alpha is available at this link: https://app.scalardao.eth.limo/

Airdrop to All Testers

As mentioned in our announcements — all those who test on Metric will be eligible for an Airdrop of Scalar DAO’s native token.

This blog contains links to guides that may help you get started. Please note there a few important initial steps that are necessary.

Let’s get you initiated

Step 1: RPC Network

Users will have to first add Polygon zkEVM Testnet RPC node to their Web3 wallet to get started.

✅ A Short guide on how you can do this: https://bit.ly/Adding-zkEVM-RPC

Step 2: Connecting Wallet

Once you have the zkEVM Testnet RPC added to your Web3 Wallet, its time to connect to Scalar DAO and get started on margin trading testing on Metric.

✅ While all Web3 degens would surely know how to do it, for the uninitiated, follow the guide on this link: https://bit.ly/Connecting-the-Wallet

Step 3: Asking for test assets from Eth Faucet for Gas payments

The Eth Faucet for Polygon zkEVM allows you to get 0.2 ETH. The link will take you to a new window that opens on to the Polygon Faucet site. You will have to first connect your discord account to be able to collect the test ETH in your wallets.

✅ Here’s a guide for you to get test ETH in you zkEVM linked wallet: https://bit.ly/Scalar-ETH-Faucet

Step 4: Getting Test Assets from Faucet for Pool supply & Trading

Each user on Scalar DAO can ask for 3 different test assets — USDC, DAI & USDT.

Each wallet can only get $100 worth of each token. But we believe that these amounts would be good enough for the purpose of testing.

✅ Follow steps on this link to get hold of your test assets: https://bit.ly/Scalar-Test-Token-Faucet

Becoming a Loan Shark

Now that you are well stocked with gas & assets for the test, lets get down to real action on Metric. The home page on the Scalar DAO app explains the primary functionalities on Metric, viz Liquidity Pools, Margin Accounts & Margin Trade.

Also, you will see two menu items on Metric — ‘Liquidity Pools’ & ‘Margin Trade’.

The function of the Liquidity Pool is to make a liquidity supplier out of you. You can deposit your idle assets and earn an APR on that deposit. Your deposits to the pool is what enables traders to borrow assets on leverage and conduct on-chain margin trades on the DEXs that have been integrated with Metric.

Let’s try this once.

Click on Liquidity Pools and hop on the next step

Step 5: Supplying to Liquidity Pools

This process is pretty straightforward — you have received assets from the faucet — all you need to do is select the market of your choice and make a deposit to that pool. It follows a few steps which include interacting with the zkEVM testnet blockchain that moves the tokens from your wallet to the pool on Metric. You should receive an APR for this deposit.

✅ Click here for a step-by-step guide to Supply Liquidity on a pool of your choice: https://bit.ly/Scalar-Liquidity-Pool-Deposit

You have the right to remove this deposit whenever you like from the withdrawal option. On withdrawal, asset plus interest accrued will be transferred to your wallet, minus all the transaction fees.

Next we move to the actual action on Metric..

Action on Metric

Now move on to the second option on Metric i.e. Margin Trade. There will be two tabs on this page — Margin Account & Margin Trade

Step 6: Your Margin Account

This is where your deposits are managed on the protocol for the purpose of trading. Users can deposit assets, which become collaterals to draw a loan on leverage for margin trading. This account also accrues interest and allows the user to deposit , withdraw, borrow, repay at any time.

Lets deposit and take leverage on the deposited asset.

✅ Guide for Deposit & Leverage in margin account: https://bit.ly/Scalar-Margin-Account-Deposit-Leverage

Step 7: Opening a Position

Now that you are armed with more assets than what you originally had — lets get you to actually start trading using the loan that you just took in your margin account. This enables you to do larger transactions. Move to the Margin Trade tab..

On this page, the users will get to select the trading pair for opening a margin position on the DEX.

Use the following guides to:

✅ Open a position: https://bit.ly/Scalar-Margin-Trade-Open-Position

✅ Close a position: https://bit.ly/Scalar-Margin-Trade-Close-Positions

Once through, you can monitor your trades in the Open Position Tab and the closed trades in the Trade History section.

Other Steps in Margin Trading

The other steps that you must explore to take active part in the margin trades on Metric are as follows:

✅ Add Margin — required in the event of the possibility of liquidation: https://bit.ly/Scalar-Margin-Trade-AddMargin

✅ Remove Margin — https://bit.ly/Scalar-Margin-Trade-RemoveMargin

✅ Repaying the loan — https://bit.ly/Scalar-MarginAccount-Repay

✅ Borrowing More — https://bit.ly/Scalar-MarginAccount-Borrow

We hope that these steps will help you conduct end-to-end margin trading on Metric and make full use of the platform to further your yield goals.

Please complete end-to-end transactions Metric as many times as possible with multiple different assets, leverage factors..

📣 Do give us your feedback & suggestions in our telegram group: https://t.me/ScalarDAOOfficial

This will help Scalar DAO understand if any improvements are required in the product.

Looking forward to your participation and huge support to Metric.

About Scalar DAO

Scalar DAO is a Open-Source, Cross-Chain Leverage Protocol democratizing margin trading. It leverages blockchain for transparency, security, and efficiency. Operating across multiple blockchains, Scalar DAO connects users to diverse assets and markets. It is open-source and has decentralized decision-making, thus promoting innovation & shaping the protocol’s future. Scalar DAO aims to pioneer DeFi adoption and revolutionize the leveraged financial markets in DeFi.

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