Opening a Position
What is a Position?
When opening a leveraged trading position on TsunamiX you specify three inputs:
Trade Type, either going Long or Short
Collateral Amount, can be in any TLP asset for longs, and stablecoins for shorts.
Leverage, which can be any value between 1.1x & 40x (for now!)
By submitting the order and confirming the transaction, your specified inputs will be used to create a User Position tied to your wallet on the blockchain.
User Positions consist of the above inputs, along with the following parameters:
Entry Price, the average oracle price at the time of order creation
Market Price, the current oracle price for the underlying asset
Liquidation Price, the price at which your collateral is liquidated
Net Value, Initial Collateral + PnL - Borrow Fees
Size, defined as Collateral * Leverage
As the Market Price increases or decreases, so will the value of your Collateral & Position Size.
The more leverage you take on, the more profit you make for changes in Market Price.
How to Open a Position
In order to open a position go to https://tsunami.finance/trade and select the type of position you would like.
Once you select a position type, you need to choose an asset to Long or Short. Below is what the UI looks like when you are longing BTC.
Once your position is open it will be displayed in the Activity Section, which can be found at the bottom of the screen.
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