Your first ATOM Leverage Trade On Levana Perps Osmosis Testnet
Here is a quick walkthrough on how to open your first leverage position on Levana Perps.
If you need help, jump into the Telegram group #beta topic: https://t.me/levanaprotocol/30438
Step 1: Navigate to the Levana Beta website
The first step is to open your preferred web browser and navigate to the Levana Beta website: https://beta.levana.exchange.
Step 2: Connect your Wallet
Once you are on the Levana Beta website, locate the “Connect wallet” button in the upper right-hand corner of the page and click it.
From the list of wallet options, select “Kepler Wallet” and click “Connect.”
Levana Perps currently only supports Keplr, but other wallet integrations are on the roadmap.
You may be prompted to connect to the Dragon Fire network. If so, follow the instructions to connect.
Once you’ve successfully connected your Kepler wallet, locate your wallet address in the upper right-hand corner of the page and click on it.
Step 3: Tap the Faucet
To trade, you need testnet funds. Tapping the built-in Faucet will provide them.
From the dropdown menu that appears, click “Faucet.”
On the faucet page, follow the instructions to confirm that you’re a human. This should earn you 1000 Adam and 10 Osma tokens.
Once you’ve earned your tokens, navigate to the “Trade” page on the Levana Beta website.
Step 4: Choose Market and Position
On the right-hand side of the trade page, click on the “Market” and “Long” buttons. This will open up a new window where you can choose the market and position you want to trade.
Let’s break down all the details of this order:
Market vs Limit — Market orders mean you buy into a position at the current market price, and Limit orders will enable you to set a price of the asset to enter and exit positions.
Long vs Short — Long means you expect the price of the asset to go up, Short means you expect the price of the asset to go down.
Collateral — How much collateral you want to use to create your position.
Leverage — The amount of exposure you want to have in the market, the higher the leverage, the more profits you can make if the market moves in your favor, but it also impacts the risk of the position by raising the liquidation.
Max Gains — Unique and innovative feature of Levana Perps v2. By default, long positions will remain open as long as the current price of the asset is above the liquidation price. Users pay a continuous cost of capital fees to keep positions open. A user can optionally lower the Max Gain, essentially creating an automatic “take profit” point. When the asset hits the Max profit limit, the position is automatically closed, and the profits are locked in. The system rewards the user for setting a Max Gain percentage by drastically reducing the cost of capital fees required to keep the position open.
Position Size — Total notional size of the position. This is calculated by the amount of collateral, and the leverage applied to that collateral.
Liquidation Price — The price at which your position will be liquidated. It is important to keep track of the liquidation price and to adjust the leverage or position size to prevent liquidation.
Take Profit Price — The price at which your position is closed in profit.
Trade Fee — Fee associated with opening the position.
Step 5: Enter Collateral and Leverage
Enter the amount of collateral you want to use to open your position. For example, you could enter $100 worth of collateral into the appropriate field. This collateral will be used to open your position.
Next, set your leverage to 20x leverage. This means that you will be trading with 20 times the amount of your collateral.
Optional: Stop Loss
An optional step is to create a stop loss. Set your stop loss lower than your entry price, but above your liquidation price. If the market moves against you, the stop loss will be triggered, and your position will be closed before it is liquidated.
Step 6: Open Long Position
Finally, click the “Open Long” button located at the bottom of the screen to open your position.
Your position will be opened with the collateral you have provided, and you will be able to monitor your position in real time.
Step 7: Sign up for the Trading Competition
If you want to participate in the Levana Perps trading competition, click the sign-up button located at the top of the page. This will take you to the registration page, where you can enter your details and start trading.
Congratulations! You have successfully opened a long position on Levana Perps Beta. It is important to monitor your position closely and adjust your collateral or leverage as necessary to manage your risk.
Now that you know how to make a trade, learn how to deposit liquidty and earn yield and LVN tokens.
If you want to learn more about the platform or get more walkthroughs, you can join the Levana Perps Telegram group at https://t.me/levanaprotocol
