Since our margin trade launch in March 2019, the platform has generated over $8M in trade volume, generated profits of ~$500k+ for traders and earned premium of ~$200k for lenders.
While we are overwhelmed by this amazing response, we have been listening to all the feedback, pain points and concerns that our users have posed. After collating all of them and working on them for the past 3 months, we have now released a margin trading platform that understands the needs of new margin traders and provides them with just the required information.
So, What’s New?
1. Higher trade amount allowed per trade
We have increased the maximum amount allowed per trade by ~1.5x for WBTC, USDC, DAI and ETH. Do check out the latest maximum allowed amounts here.
2. Entry price & Auto Liquidation price
We understand that margin traders need to know the price at which his trade will get auto-liquidated by the system i.e. the Liquidation Price. At Nuo, one can set a stop loss between 40% and 80% of collateral. Along with protecting the collateral, the margin trader will now be able to view the Liquidation Price at the point of trade creation itself.
3. Select your own profit token
The margin trader can now choose the currency in which he wants the profits to made in that trade in. Please note if the user changes this from the token selected by default, it might encounter an additional slippage at the time of liquidation.
4. In-depth analysis of past performance of your trade
Margin traders will now be able to analyse trades in the most unique way. At the time of placing the trade, traders will now be able to view how their trades would have performed had they placed the trade at any time in the past 3 months. They can also experiment further by changing any of the parameters like stoploss, take profit or trade duration and check how their trade would have performed differently.
5. Continuous Visibility of Liquidation prices for active trades
This Liquidation Price may change after the trade is placed in case the collateral currency is different from the market and position currency. This may occur due to fluctuation in the value of collateral currency with respect to market currency. The Margin Trade details page contains a real-time updated value of the on-going Liquidation Price so that one can compare it with the Current Price of the position currency.
6. Clarity of profits/losses post trade completion
Once the trade is completed, the margin trader needs to know exactly what the profits or losses were. The Margin Trade details page now contains the exact gains made on the trade along with the price of the position currency at which it got liquidated and created. This page also shows exactly how much funds did the user exactly exit with.
7. Other changes
We have made some other broader changes which will help all users of Nuo. We have now introduced the concept of market currency and position currency which most traders are already familiar with. Furthermore, it has now become much easier to navigate between margin trading, lending and borrowing by placing these in the header of the website. Also, the Reserves Details for lenders now provides info of the initial amount that was invested as well as the current value of those funds.
In the near future, we plan to increase the max trade amounts to a much higher amount and add the ability to add/remove part of the collateral amount from the margin trade.