Main Functionality
Shordex dApp Basic Manual
Welcome to the Shordex dApp, your gateway to seamless crypto hedging and trading. This manual will guide you through the platform’s user experience (UX) and explain how to execute transactions. Whether you're hedging Bitcoin, trading Shortbit, or staking for rewards, this guide has you covered.
1. Accessing the dApp
Please ensure that you are familiar with Quick Start manual which provides all necessary details to get prepared for making transactions with Shortbit. Here is a short version of preliminary actions.
To access the Shordex dApp, follow these steps:
Ensure You Have Fully Completed Check List in Quick Start Section.
Visit the dApp:
Open your crypto wallet (we recommend Rabby Wallet at rabby.io).
Navigate to the Websites section and visit dev.unihedge.io.
Log In:
Enter your Telegram ID (please note that it is different from your Telegram username) as login and the password provided by the Shordex Bot @shordexbot in Telegram to access the dApp.
Connect Your Wallet:
Click Connect Wallet and confirm the connection in your Rabby Wallet.
2. Navigating the dApp
The Shordex dApp consists of three main pages: Main, Timeline, and FAQ. Here’s an overview of each:
Main Page
The Main Page is your dashboard for monitoring key data, executing transactions, and tracking your portfolio.
Key Data:
Observed Bitcoin Rate: The current market price of Bitcoin (BTC) in USD.
Last Registered Bitcoin Rate: The most recent BTC price registered by the Shortbit contract.
Current Shortbit Rate: The price of Shortbit (inverse to BTC) in USD.
Graphs:
Bitcoin Live Price: Real-time BTC price movements.
Index Price Feeds: BTC prices provided by Chainlink oracles and registered by the Shortbit contract.
Shortbit Price: The synthetic (inverse) price of Shortbit relative to BTC.
Dynamic Volatility-Dependent Fee Rate: The fee rate based on index price volatility.
Smart Contract Data:
Shortbit (Token) Contract: Free float, trading volumes, and other metrics.
Unipool Contracts: Asset exchange rates and liquidity details.
Staking Contract: Staking pool size, reward pool, and staking return rates.
Transaction Execution:
Category Selectors: Choose between Trading or Staking.
Personal Data: View your current balance, fee rates, and other transaction-related details.
Transaction Buttons:
Trading: Buy or Sell Shortbit.
Staking: Stake, Unstake, or Claim rewards.
Personal Transactions:
A list of your trading and staking transactions, including type, amount, time, fee rate, and staking points.
Timeline Page
The Timeline Page provides a comprehensive view of all user transactions—both Trading and Staking. Use this page to monitor market activity and trends.
FAQ Page
The FAQ Page answers the most common questions about Shordex, organized into categories:
Guides: Step-by-step instructions for using the platform.
Product: Learn about Shordex’s mission and products.
Technology: General information about Shordex technology stack.
Engagement: Learn how you can contribute to Shordex and get rewarded.
3. Executing Transactions
Shordex supports two main types of transactions: Trading and Staking.
Execution of Trading and Staking transactions require gas. Rabby wallet allows effectively manage gas spending, and the saving can be huge - as much as 15-20 times lower than default gas setting. We encourage you to explicitly set Custom value of gas price in the wallet as low as 30 GWei per gas unit.
Here's how to execute each type of transactions:
Trading Transactions
Buy Shortbit:
Ensure you have the required amount of USDT, WETH or POL in your wallet.
Approve the transaction amount in your wallet (except POL because approvals are required for ERC20 tokens only).
Click Buy, select respective asset to pay with, specify transaction amount and confirm the transaction.
A dynamically calculated fee will be applied.
Sell Shortbit:
Ensure you have the required amount of Shortbit in your wallet.
Select the asset (USDT, WETH or POL) against which you want to sell Shortbit.
Click Sell, select respective asset to receive in exchange, specify Shortbit amount and confirm the transaction.
A dynamically calculated fee will be applied.
Staking Transactions
Stake Shortbit:
Ensure you have the required amount of Shortbit in your wallet.
Click Stake, specify the amount and confirm the transaction.
No fees or limits apply.
Unstake Shortbit:
Ensure you have a staking balance.
Click Unstake, specify the amount (not exceeding your staking balance) and confirm the transaction.
No fees apply.
Claim Rewards:
Ensure you have a non-zero staking balance for some time.
Click Claim and confirm the transaction.
Staking contract will calculate your up-to-date staking points, convert them into Shortbit and send the amount to your wallet.
No fees apply.
4. Key Features of Shordex
No Liquidation Risk: Shortbit doesn't carry any liquidation risks, ensuring your positions remain safe at any time.
Passive Hedge - Holging: Shortbit offers unique hedging strategy - holging: buy Shortbit and hold. No rebalancing is required—thanks to impermanent gain of Shortbit hedge.
Zero Slippage: Enjoy institutional-grade trading with built-in AMM facilities that employs unprecedentedly high liquidity.
Dynamic Fees: Fees are calculated based on market volatility of Bitcoin, ensuring sustainability of operations under high volatility conditions.
5. Tips for Success
Monitor Volatility: Other things being equal, use the dynamic fee rate graph to plan your transactions during periods of low volatility.
Diversify Your Portfolio: Combine Bitcoin and Shortbit to create a balanced portfolio with your desired delta.
Stay Informed: Regularly check the Timeline Page to stay updated on market activity.
6. Support and Resources
If you encounter any issues or have questions, visit the FAQ Page or reach out to the Shordex support team via the Shordex Bot on Telegram.
Start Hedging Today
Shordex is designed to make crypto hedging simple, secure, scalable and affordable. Whether you're a professional trader or new to crypto, our platform provides the tools you need to succeed. Log in to dev.unihedge.io and start your journey today!
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