[ CVEX News | Updates from the CVEX ecosystem ]

CVEX Insights

Learn how to trade crypto futures easily with the CVEX Telegram Trading App. This step-by-step guide covers account setup, deposits, and placing trades.

CVEX is thrilled to introduce our very own Telegram Trading App. It’s a major step forward in bringing DeFi clearing infrastructure to the masses. With millions of traders and crypto enthusiasts already active in the Telegram ecosystem, we’re making crypto futures trading easier, more secure, and cost-efficient. Right where you are.

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To help you get started, we’ve created a simple, step-by-step onboarding guide tailored specifically for our TG community.

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Disclaimer: This guide is for informational purposes only and does not constitute financial advice or a call to action. The features and functionalities described in this text may differ from those available in the actual application or may not be implemented at all. Always conduct your own research and trade responsibly.

Authorisation

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Unlike traditional Telegram-based exchanges, our authorisation process follows a different sequence of steps. This approach allows us to maintain full compatibility with EVM and the Arbitrum blockchain, ensuring lower fees and faster transactions. Now, let's walk through the sign-up process.

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Step 1: Create a PIN Code

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After clicking “Sign Up”, you’ll be prompted to set up a PIN code. This PIN is your first layer of security, protecting your account from unauthorised access. Enter a secure PIN and confirm it to proceed.

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Step 2: Set Up a Recovery Method

Forget complicated seed phrases! We've opted for a more familiar and user-friendly recovery method: security questions. If you ever need to restore access, simply answer a control question. Just like in the early days of the internet.

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Example:

What was the name of your first pet?

→ Satoshi Liquidoto

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You can find a visual guide in the screenshots below.

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Step 3: Final Confirmation

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⚠ Important: If you forget both your PIN and recovery answers, you will lose access to your wallet. We highly recommend writing them down and keeping them safe.

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To finalise your setup, simply type “I agree” and click Continue on the confirmation screen.

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Once you’ve completed these steps, you’re all set to start trading seamlessly within Telegram!

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Depositing

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To trade, you’ll need stablecoins, right? We’ve made depositing as effortless as possible. So, even if it’s your first time dealing with crypto, you’ll know exactly what to do.

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You’ll have three options to deposit:

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USDC via Arbitrum One
TON or USDT via TON network
Almost every other crypto via ChangeNow network
Fiat (coming soon)

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Here’s how it works:

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Step 1: Setting Up Your Deposit

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Tap “Deposit” on the Home page. Next, choose your preferred payment method and enter the amount of crypto you’d like to deposit (ChangeNow and TON network) or just copy the address (using Arbitrum One). Whether it’s a stablecoin or any other crypto, we’ve got you covered.

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Pay attention that your deposit will be automatically converted to USDC.

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Step 2: Review & Proceed

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Before sending funds and approving, double-check all transaction details. Then copy the address (for TON and Arbitrum One) and send the amount of funds you want to deposit. When it’s done, hit “I’ve sent funds” to move forward.

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Step 3: PIN & Final Confirmation

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For security, enter your PIN code (the one you created during authorisation). Then, wait a little bit until the blockchain proceeds your transaction.

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When the transaction will be finished, you’ll receive a notification.

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Please carefully read all the instructions on the screen during depositing. Features are subject to change without prior notice, so this guide may be irrelevant at some points.

Trading

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Trading on CVEX’s Telegram app is designed to be effortless, even for first-time users. Just follow these three simple steps:

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Step 1: Choosing a Contract

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Head over to the “Trade” tab. At the top of the screen, you’ll find a list of available contracts. Select the asset you want to trade. Let’s use BTC as an example.

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Step 2: Placing an Order

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Currently, the app supports market orders for buying and selling. Simply choose whether you want to open a long or short position, then enter the amount of stablecoins you’d like to trade.

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Step 3: Confirming Your Order

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To finalise your trade, confirm the transaction in your wallet and enter your PIN code for security.

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Once your first position is open, you can track your portfolio anytime in the “Home” tab. Happy trading!

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Follow CVEX for news and crypto information

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5 min read

Fusion of Centralised and Decentralised Finance

The advent of CeFi (Centralised Finance) and DeFi (Decentralied Finance) marks a pivotal shift from traditional finance models to more inclusive and accessible systems. This transformation is not just a technological leap but a response to the growing demand for transparency, efficiency, and autonomy in financial transactions.

Historically, financial systems have been built on centralised models, with banks and financial institutions acting as the gatekeepers of money and credit. These entities, governed by a complex web of regulations, have controlled the flow of money, the issuance of credit, and the management of financial risks. However, this centralisation has often led to inefficiencies, exclusivity, and a lack of transparency, prompting the search for alternative finance models.

Enter CeFi and DeFi, two paradigms that challenge the status quo of traditional finance. CeFi, or Centralised Finance, refers to the crypto-equivalent of traditional banking systems, where exchanges and platforms act as centralised entities offering various financial services. These services include but are not limited to, trading, lending, borrowing, and yield farming, all under the oversight of a central authority. CeFi platforms bridge the gap between the legacy financial system and the burgeoning world of digital assets, providing users with familiar interfaces and regulated environments.

On the other hand, DeFi, or Decentralised Finance, represents a radical departure from conventional financial operations. Built on blockchain technology, DeFi offers a suite of financial services that operate without central intermediaries. From decentralised exchanges (DEXs) to lending protocols and stablecoins, DeFi utilises smart contracts to automate financial transactions, offering unparalleled transparency and control to users. This shift towards decentralisation seeks to democratise finance, making it more accessible and equitable for all participants.

The emergence of CeFi and DeFi as responses to the limitations of traditional finance is a testament to the dynamic nature of the financial industry. By addressing issues such as accessibility, transparency, and user control, these models are reshaping our understanding of financial systems in the digital age. As we delve deeper into the distinctions, advantages, and challenges of CeFi and DeFi, it becomes clear that the future of finance is on the cusp of a transformative era, promising more inclusive, efficient, and transparent financial services for individuals worldwide.

Understanding CeFi: Centralised Finance in Crypto

Centralised Finance (CeFi) within the cryptocurrency domain acts as a pivotal bridge connecting traditional financial mechanisms with the rapidly evolving digital currency landscape. Rooted in age-old principles, CeFi today melds with modern technology to offer an array of financial services while maintaining centralised governance. This blend represents a continuum from tangible assets to digital currencies, illustrating humanity’s pursuit of stable and dependable financial infrastructures.

CeFi’s cornerstone is centralised exchanges (CEXs), which funnel all trading activities through a singular platform under centralised oversight. Prominent examples include Binance, Coinbase, and Kraken, which display CeFi’s role in cryptocurrency, providing a unified venue for trading, lending, and borrowing. These platforms, acting as custodians, assume the responsibility of securing and managing users’ funds. Beyond trading, CeFi extends to services like lending, borrowing, and margin trading, enriching the cryptocurrency experience.

Advantages of CeFi include:

Enhanced Security: CeFi platforms invest in sophisticated security measures to protect users’ assets from cyber threats.
Robust Customer Service: Provides comprehensive support to users, facilitating a smoother navigation through the complexities of crypto trading.
Regulatory Compliance: CeFi entities adhere to legal frameworks, offering an added layer of protection against potential fraud and malpractices.

Challenges faced by CeFi comprise:

Security Risks: Despite robust security measures, centralised platforms remain prime targets for hackers, evidenced by past security breaches resulting in significant financial losses.
Control Over Funds: The centralised nature of CeFi means users relinquish direct control over their funds, raising concerns about autonomy and the risks of mismanagement.
Privacy Concerns: Utilising CeFi platforms often entails disclosing personal information, potentially compromising user anonymity.

In essence, Centralised Finance in the cryptocurrency arena marries traditional financial systems with technological innovation. It provides a regulated and familiar environment for trading and asset management, backed by a suite of services catering to various user requirements. Nevertheless, it necessitates a judicious assessment of its benefits against inherent risks and challenges. As the cryptocurrency landscape continues to mature, CeFi remains a critical component, steering the course of digital finance with its blend of security, innovation, and regulatory alignment.

Diving into DeFi: The Decentralised Finance Revolution

Decentralised Finance (DeFi) represents a revolutionary shift in the financial domain, challenging the centralised banking systems’ status quo by leveraging blockchain technology and smart contracts. This innovative framework democratises finance, making it accessible, transparent, and inclusive. DeFi stands out for its ability to offer a comprehensive suite of financial services — from asset exchanges to loans and leveraged trading — without the intermediation of traditional financial institutions.

The Role of Blockchain and Smart Contracts in DeFi:

Blockchain serves as the backbone of DeFi, ensuring transparency, security, and efficiency. It enables transactions and agreements to be executed automatically through smart contracts, without needing central authorities or intermediaries. This technology not only reduces the potential for human error but also significantly cuts down transaction costs and time.

Services Provided by DeFi:

DeFi platforms have rapidly expanded their offerings, covering a wide range of financial services that mirror those in the traditional financial sector. These include but are not limited to:

Asset Exchanges: Decentralised platforms facilitating direct peer-to-peer asset trading.
Loans: Permitting users to lend or borrow cryptocurrencies, often secured by digital assets.
Leveraged Trading: Allowing traders to amplify their trading positions using borrowed funds.

Unique Features of DeFi:

DeFi’s allure lies in its core features:

Transparency: Every transaction and its rules are recorded on the blockchain, visible to anyone.
Control: Users retain full control over their assets without relying on third parties.
Accessibility: DeFi services are accessible to anyone with an internet connection, breaking down geographical and socio-economic barriers to financial services.

Advantages of DeFi over CeFi:

DeFi ushers in a new era of financial empowerment and innovation. It offers unparalleled transparency, where users can directly interact with financial systems and products without opaque practices. Additionally, DeFi promotes financial inclusion and user empowerment, allowing individuals to participate in a wider array of financial activities with minimal entry barriers.

Risks Associated with DeFi:

Despite its potential, DeFi is not without risks:

Asset Security: The nascent stage of many DeFi platforms can pose security risks, from smart contract vulnerabilities to platform exploits.
Platform Reliability: As decentralised platforms are still in development, they may face issues with scalability, user experience, and reliability.
Regulatory Ambiguity: The lack of clear regulatory frameworks for DeFi can create uncertainties for users and developers, potentially affecting its mainstream adoption.

In summary, DeFi represents a paradigm shift in finance, challenging traditional centralised systems with its innovative use of blockchain technology to offer transparent, accessible, and user-controlled financial services. While it promises a future of empowered financial participation, it also necessitates cautious navigation of its associated risks. As the DeFi space continues to evolve, it is poised to redefine the financial landscape, promising more inclusive and innovative solutions.

CeFi vs. DeFi: A Comparative Analysis

The financial ecosystem is witnessing a transformative period with the coexistence of Centralised Finance (CeFi) and Decentralised Finance (DeFi), each presenting unique advantages and challenges. This comparative analysis delves into the core differences and similarities between CeFi and DeFi across multiple dimensions, shedding light on the evolving landscape of finance.

Public Verifiability and Transparency:

DeFi, built on blockchain technology, excels in public verifiability and transparency. Every transaction and contract execution is recorded on the blockchain, accessible for anyone to audit. This contrasts with CeFi, where operations are more opaque, often leaving users in the dark about the internal workings and decisions affecting their assets.

Atomicity and Execution Speed:

DeFi transactions can be programmed to be atomic, meaning they either complete in their entirety or not at all, reducing the risk of partial execution. However, DeFi can sometimes suffer from slower execution speeds due to network congestion. CeFi, operating on traditional digital infrastructures, often provides faster transaction speeds but lacks the inherent atomicity of blockchain transactions, relying instead on legal agreements to ensure transaction integrity.

Development and Deployment Anonymity:

DeFi platforms often embrace development and deployment anonymity, allowing for the creation and operation of financial services without revealing the identities of the developers. This level of anonymity is rare in CeFi, where companies are typically bound by regulatory requirements to disclose significant amounts of operational and ownership information.

Custody and Control Over Assets:

One of the most pronounced differences lies in the approach to asset custody. DeFi grants users full control over their assets through non-custodial wallets and smart contracts, contrasting with CeFi’s custodial nature, where users entrust their assets to the platform. This fundamental difference highlights the trade-off between the convenience of CeFi and the sovereignty provided by DeFi.

Market Hours and Availability:

DeFi markets operate 24/7, facilitated by the always-on nature of blockchain networks, offering continuous trading without the constraints of traditional market hours. In contrast, CeFi markets may have specific operating hours, influenced by their geographical location and regulatory environment.

Interplay and Blurred Lines:

The distinction between CeFi and DeFi is not always clear-cut. The financial ecosystem is increasingly witnessing a convergence of practices, with CeFi platforms incorporating blockchain technologies and DeFi principles to enhance transparency and efficiency. Conversely, some DeFi projects are exploring centralised elements to improve user experience and regulatory compliance.

In essence, CeFi and DeFi represent two sides of the same coin, offering diverse paths to financial innovation and inclusion. While DeFi pushes the boundaries of decentralisation and user empowerment, CeFi provides a familiar, regulated framework for financial services. The future of finance may well lie in the synergies between these two paradigms, leveraging the strengths of each to create a more inclusive, efficient, and transparent financial system.

Legal, Security, Economic, and Privacy Perspectives

CeFi operates within a well-established legal framework, adhering to regulatory standards that cover licensing, anti-money laundering (AML), and customer due diligence (CDD). In contrast, DeFi navigates a less clear regulatory landscape, leveraging blockchain’s global reach to offer financial services without centralised governance, raising questions about jurisdiction and legal compliance.

Security Challenges and Solutions

Security in CeFi hinges on the robustness of centralised platforms, which are frequent targets for cyberattacks but benefit from institutional-grade protection measures and insurance schemes. DeFi’s security is rooted in blockchain technology, offering resilience through decentralisation but facing challenges such as smart contract vulnerabilities. Both ecosystems are evolving with enhanced security protocols, including multi-factor authentication in CeFi and rigorous smart contract audits in DeFi.

Economic Implications

Transaction costs in DeFi are variable, primarily influenced by network congestion and demand for blockchain space, potentially leading to high fees during peak times. CeFi typically offers more predictable fees but can include costs like withdrawal fees and currency exchange charges. Regarding inflation, CeFi is tied to traditional fiat currencies subject to central bank policies, whereas many DeFi projects have predefined token supplies, introducing different economic dynamics.

Privacy Considerations

CeFi requires user identification, compromising anonymity for regulatory compliance. DeFi, powered by blockchain, offers pseudo-anonymity, with transactions publicly recorded but not directly linked to real-world identities. However, the increasing integration of “Know Your Customer” (KYC) processes in DeFi projects begins to blur the lines of privacy between CeFi and DeFi.

Market Manipulation and Arbitrage Risks

CeFi markets are susceptible to traditional manipulation tactics but are monitored by regulatory authorities to protect investors. DeFi’s transparency and decentralised nature make manipulation more challenging but not impossible, with practices like front-running becoming prevalent due to public transaction pools and automated market making.

Arbitrage in CeFi involves exploiting price differences across different exchanges, often hindered by transfer times and fees. DeFi offers unique arbitrage opportunities within and across platforms, facilitated by instant blockchain transactions. However, the inherent risks of price slippage and transaction failures due to network congestion or smart contract issues apply. Both CeFi and DeFi arbitrageurs must navigate these challenges, weighing potential profits against the costs and risks of their strategies.

The Synergy between CeFi and DeFi

As the financial world evolves, it becomes evident that CeFi and DeFi are not adversaries but complementary forces shaping the future of finance. These two ecosystems have the potential to coexist harmoniously, leveraging their unique strengths to provide a more robust, inclusive, and versatile financial landscape.

Innovations such as bridges and cross-chain services are paving the way for seamless interaction between CeFi and DeFi platforms. These technologies allow assets and information to flow freely between different blockchains and centralised systems, unlocking new possibilities for liquidity, accessibility, and financial services. By integrating CeFi reliability and DeFi innovation, these solutions offer users the best of both worlds.

The financial ecosystem is witnessing the emergence of hybrid models that blend CeFi’s regulatory compliance and user-friendly interfaces with DeFi’s transparency and decentralisation. Such platforms are instrumental in introducing traditional finance users to the benefits of blockchain technology, fostering a gradual transition to more decentralised solutions.

Conclusion and Future Outlook

The journey through the realms of CeFi and DeFi uncovers a landscape rich with opportunity, innovation, and challenges. As we have explored, both systems possess distinct advantages that, when combined, have the potential to redefine financial interactions and accessibility.

The financial ecosystem continuously evolves, with CeFi and DeFi each playing critical roles in this transformation. As technologies advance and regulatory frameworks mature, we can anticipate a more interconnected and interoperable financial environment where users can effortlessly navigate between centralised and decentralised services according to their needs.

We encourage our readers to dive deeper into the worlds of CeFi and DeFi, exploring the diverse offerings on platforms like CVEX. Embrace the opportunity to engage with traditional and innovative financial solutions, expanding your understanding and capabilities within this ever-changing ecosystem.

Stay ahead of the curve by keeping informed about the latest developments in both CeFi and DeFi. As the lines between these two sectors continue to blur, being well-informed will enable you to make the most of the opportunities in this dynamic financial landscape.

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5 min read

Mastering Order Types on CVEX

Navigating the diverse landscape of decentralised trading demands a deep understanding of the order types at your disposal. CVEX stands out as a platform that equips traders with various order options, enabling efficient market navigation. This detailed guide sheds light on crucial order types and how they can amplify your trading efficacy on CVEX.

Market and Limit Orders

Market Orders are pivotal for traders who prioritise quick execution over price precision. Executed at the prevailing market price, these orders offer the advantage of speed. However, traders must be cautious of possible price slippage, especially in volatile market conditions, which can affect the final execution price.

Limit Orders introduce a layer of price control, allowing traders to specify the price at which they wish to buy or sell an asset. This order type is essential for traders who seek price certainty and are willing to wait for the market to match their specified price. While limit orders ensure that you don’t pay more (or sell for less) than your desired price, execution is not guaranteed if the market price does not reach the price set by the trader.

The Intricacies of Futures and Options

Exploring futures and perpetual markets on CVEX, traders can take long or short positions, betting on both the rise and fall of asset prices. It’s important to note that simultaneous long and short positions on the same contract nullify each other due to their opposing nature.

The options market further diversifies trading strategies. Traders can buy or sell Call and Put contracts with predefined strike prices. Margin trading in options allows traders to enter into positions without paying the full premium upfront, distinguishing CVEX from traditional centralised and decentralised exchanges by providing a broader range of trading strategies.

Expanding on Time-in-Force (TIF) Settings

Good ’til Cancel (GTC) orders remain active until they are fully executed or explicitly canceled by the trader. This setting is perfect for traders who are not under immediate pressure to execute and prefer to wait for the market to reach a specific price.

Immediate or Cancel (IOC) orders emphasise the need for swift execution. These orders aim for immediate fulfillment; any part of the order that cannot be filled instantly is canceled. This type is favored by traders looking for rapid execution while avoiding the risk of partial fills.

Fill or Kill (FOK) orders are all about immediacy and completeness. They must be executed in their entirety as soon as they are placed; otherwise, they are entirely canceled. This order type is particularly useful for traders dealing in large volumes who require a full fill and wish to avoid partial executions.

Post Only (PO) orders ensure that a trader always adds liquidity to the market, thus qualifying for maker fees instead of taker fees. These orders do not execute immediately against existing orders, ensuring the trader’s position as a liquidity maker. If a PO order would be matched with existing orders upon placement, it is automatically canceled, thus preserving the maker status.

Efficient Order Execution and Strategic Management on CVEX

Our platform meticulously verifies that each order is sufficiently supported by collateral before execution. This vigilance ensures a seamless trading experience, where traders can effortlessly cancel or adjust orders that await execution. We’re on the brink of enhancing our platform further by introducing Stop Loss and Take Profit orders, broadening the strategic toolkit available to our traders.

Innovating for Advanced Trading Approaches

The future of CVEX shines brightly with the impending rollout of an array of conditional orders. This innovation marks a pivotal step in our journey to revolutionise the DeFi trading landscape. Our unwavering dedication to delivering a comprehensive, intuitive trading platform caters to the vast spectrum of trader aspirations and strategies.

Conclusion

CVEX is committed to empowering traders with various order types and customisable trading configurations. Our platform is crafted with the needs of both burgeoning traders and trading veterans, offering unmatched versatility and control. As we persist in enhancing our platform’s capabilities, CVEX is poised to maintain its leading position in decentralised trading innovation.

We invite you to stay connected for further enhancements, as we continue to elevate the trading experience on CVEX, making it your go-to platform for decentralised trading endeavors.

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5 min read

CVEX Public Testnet Goes Live

Today, Crypto Valley Exchange (CVEX) proudly launches its Public Testnet, welcoming over 150,000 users who have eagerly awaited this day. This significant step follows our Closed Testnet phase, which demonstrated the robustness and potential of our platform.

Closed Testnet Achievements

From March 14th to 21st, our Closed Testnet saw participation from 75 users, the execution of over 9k events and 1,250 orders, and our users’ identification of 20 bugs. Our development team has efficiently addressed most of the bugs and vulnerabilities, ensuring our readiness for this wider release.

Upcoming Features and Developments

As we continue our journey towards the Mainnet launch, we’re excited to share the enhancements we’re working on:

Batch Actions. Execute multiple operations simultaneously, saving on gas fees and leveraging VaR Margin for optimal trading efficiency.
User Interface Enhancements. Expect a reworked list of markets, account details, and order configuration, making the platform more accessible for newcomers.
Relaxed Mode. Benefit from more efficient (cheaper) transaction execution, optimising your trading strategy.
Leverage Configuration & Risk Model Rework. Gain access to higher leverage through a refined risk model and leverage settings.
Advanced Trading Features. Look forward to Confirmation-less trading (Trusted Mode), Trading Strategies, and more, catering to novice and experienced traders.
Comprehensive Analytics. Dive deep into Protocol, Platform, and Portfolio Analytics, providing you with the insights needed to make informed decisions.
Affiliate Program Enhancements. Enjoy a robust Affiliate Rewards Distribution Service and Affiliate Dashboard Analytics, among other advanced features.
Cross-Chain & Multi-Account Capabilities. Experience seamless CCTP Integration for cross-chain funding and Multi-Account Mode for diversified trading strategies.
Market Maker & Trading Automation. Leverage our API/SDK for Market Makers and programmatic trading, enhancing trading efficiency for professionals.
Data Integration & Accessibility. Migration to Chainlink Data Streams for decentralised, accurate and timely market data, alongside Localisation and Light Theme options for improved platform accessibility.
Mobile App. Stay connected and trade on the go with our upcoming mobile application, ensuring you take advantage of every trading opportunity.

Please note that future scope is subject to change based on insights gained during the Testnet phase.

Your Role in Shaping CVEX

Join the CVEX Public Testnet and play a vital role in refining our platform. Your feedback is crucial in crafting a superior DeFi trading experience. Explore, test, and engage with our community, including crypto enthusiasts and the CVEX team, to shape the future of decentralised trading. Connect with fellow testers and share insights in our dedicated Discord channel. Your participation is key to our collective success.

Join the discussion: https://discord.com/channels/1140960876992659506/1216747747823321128

Join the CVEX Journey

Immerse yourself in the CVEX Public Testnet and be part of the movement shaping the future of decentralised futures trading. For a comprehensive guide on how to navigate and make the most out of our Public Testnet, visit our Official CVEX Testnet Guide.

Stay Connected

For the latest updates and to join our vibrant community, follow us on:

Website — https://cvex.xyz/

Twitter — https://twitter.com/cvex_xyz

Telegram — https://t.me/cvex_xyz_ann

Discord — https://discord.gg/DRma7Z9BTz

Together, let’s embark on a journey toward creating a decentralised futures trading platform that is not only innovative and secure but also deeply aligned with the needs and aspirations of our community.

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5 min read

Understanding Fees and Rewards on CVEX

As we gear up for the Mainnet launch, we’re sharing a preview of our structured fee system and rewards mechanism to enhance your trading experience. This guide aims to demystify our fee structure and rewards, making your journey with us profitable and engaging.

A Closer Look at Fees

At CVEX, each trade carries an operational fee, which is a small charge for order delivery and execution. This fee varies depending on the type of delivery and execution mode you choose. For example:

Instant Execution (1–2 seconds). For those seeking speed, fees range from $0.20 to $0.30, depending on whether it’s a trusted or signed delivery.
Relaxed Mode (around 30 seconds). A cost-effective choice offering significant savings, with fees as low as $0.05 for trusted delivery.
Direct Calls to the Smart Contract. Incur only a minimal operational fee of $0.02, plus the cost of gas used.

Traders can also bundle orders in a batch to save on costs, which is especially useful for options trading or adjusting orders.

When it comes to liquidations and settlements, a small fee applies, ensuring the platform can sustainably manage these processes. Yet, there are no fees for deposits and withdrawals, except for the standard gas costs.

Trading Fees Explained

Trading fees are differentiated between makers and takers based on their contribution to the liquidity in the order book. Makers add liquidity by placing orders that are not immediately matched, thus building the market. Takers remove liquidity by matching with these orders. Fees for takers start at 0.00300%, while makers receive rebates, encouraging market-making activities.

Holding CVEX Tokens unlocks tier-based discounts on trading fees, rewarding our community’s commitment. Discounts range from 10% to 20%, depending on your staking tier, making trading more advantageous for our loyal users.

Rewards for Keeping the Market Efficient

Frontends and Clearance Bots play a crucial role in maintaining market efficiency. They are reimbursed for gas costs and receive a premium for their operational expenses. Additionally, bots that help manage risk by initiating margin calls or terminating risky orders are rewarded, ensuring a stable trading environment.

Your engagement with CVEX is pivotal. The fees and rewards system is designed with the community in mind, balancing operational sustainability with user incentives. As we progress towards our Mainnet launch, we value your feedback and participation in shaping a platform that truly reflects the needs of our users.

Stay tuned for updates and join us in redefining decentralised trading. Your journey with CVEX is just beginning, and we’re excited to have you aboard.

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5 min read

The Official CVEX Testnet Guide

In this guide, you’ll learn about all the features we presented in our Crypto Valley Exchange Closed Testnet. We approached our UX/UI with much love and hope you won’t need this guide. But let’s go through the CVEX functionality step-by-step so you don’t have any questions left.

Please note that all transactions on our Testnet are test ones. No real funds will be used!

Step 1: Connect Your Wallet

To enter the wonderful world of decentralised trading, you need a key. In our case, that key will be one of the 170 crypto wallets we support. So, how do you connect to the platform?

Note: We support only those wallets supporting EIP-712 Standard.

1. Go to the official website of our testnet. Make sure that the link in your browser search bar and this link: https://testnet.cvex.trade/ match. The scammers are not sleeping, don’t let yourself be fooled!

2. Now, you will see a window “Welcome to CVEX”, where you will find more detailed instructions and explanations of the wallet connection process and a link to our Terms of Service. When you have read everything, click “Connect”.

3. Choose one of the 170 options we support. But you’ll choose Metamask, we know.

4. Your wallet will ask you to confirm that you want to connect to CVEX. Don’t worry, no funds will be used. The confirmation is purely a security function. Read the terms and conditions and agree to all offers

5. After connecting the wallet, you’ll need to verify the ownership. Just one more dialogue window from your wallet, but it’s very important. All in all, how do we know that’s your wallet?

6. Now, if you are on our Whitelist, you’ll get access to the platform. But if not, you’ll see this message:

Please fill in your email, and we’ll notify you personally when our Testnet launches in the public phase so you can try it.

7. If everything’s fine, you’ll notice your address in the top-right corner of the website. Like this:

Step 2: Choose Your Chain

After connecting, you may want to choose the preferred chain to use. Click on your wallet’s address in the top-right corner and see this:

Here, you can switch between Sepolia, Arbitrum Sepolia, Base Sepolia and OP Sepolia chains. Choose your fighter, and let’s proceed.

Step 3: Increase Your Balance

So, you’re connected. But to trade, you need some money, right? We’ve prepared a built-in faucet that will increase your balance on the platform without requiring many actions.

It is important to note that the CVEX testnet does not involve working with real funds. All balances are test ones!

1. Find the “Increase” or “Deposit” buttons and click them.

2. After clicking, your wallet will ask to verify a transaction. Agree with it. And now, in “Account Details”, you’ll see how your test deposit on CVEX is growing.

3. Here, in the “Account Details”, you can also test decreasing your balance, seeing your available collateral and total equity.

Step 4: Place Your First Order

Now let’s take apart the main window of the interface:

First, look at the “Place Order” section on the right side of the screen. This is where all trading on CVEX takes place. Here you can:

Choose to place Buy or Sell orders
Choose whether you want to place a Limit or Market Order

If you want to engage with an asset right now, then choose market order:

Here, you just need to fill in the quantity of the desired asset to buy/sell and hit the “Place Buy” button. Also, you may want to use the “Reduce-Only” (read further about it) option. Right below the buy button, you can see the trading and operational fees you will pay from your test balance.

If you are aimed at a specific price level, you may find it better to use Limit orders:

The main difference here is the ability to choose the price level at which your order will be executed (e.g., buy BTC at $75,000). Also, you’ll find different types of orders from which you can choose. Let’s break them down:

Additional settings of orders on CVEX:

- Reduce-Only: This option is handy if you already have open trades. Say you’ve gone long on 0.5 BTC and want to set up a short position for 0.2 BTC as a Reduce-Only order. CVEX will simply adjust your long position down to 0.3 BTC. If you then add another short for 0.4 BTC, CVEX will close out your long position completely.

- Post-Only: This feature is used in limit orders to ensure your order only gets added to the book if it can’t be filled immediately by matching it with an existing order. It’s a way to ensure you pay the maker fee instead of the taker fee.

- Good-till-Cancel (GTC): This type of order remains active until the trade is executed or you decide to cancel it. It’s a “set and forget” option for traders waiting for their price target.

- Fill-Or-Kill (FOK): This is an all-or-nothing order that needs to be filled entirely and immediately, or it gets cancelled. It’s used when you want to ensure a complete fill without partial executions.

- Immediate-Or-Cancel (IOC): Similar to FOK, this order type seeks immediate execution. CVEX will immediately fill as much of the order as possible and cancel any unfilled portion. It allows for partial fills, offering flexibility in fast-moving markets.

Step 5: Analyse Your Portfolio

Now, after opening your first position, your account details should have changed, which you can see in the bottom-right corner of the platform:

Let’s take a closer look at what information you can find here and how to use it to improve your profitability in CVEX trading:

1. Leverage

At the very top, you will see Leverage and a number after it. Currently, CVEX does not allow you to select the desired Leverage size yourself. Considering many factors, the platform automatically selects the maximum allowable Leverage for you. But the main one is risk management.

Our website has a whole section dedicated to calculating Leverage for different scenarios. We recommend that you read it in detail to understand how to maximise the potential Leverage for your account: https://cvex.xyz/.

2. Margin Utilisation

Margin Utilisation is the percentage of your total portfolio that is currently spent on maintaining open positions. If the percentage exceeds 90%, the user has a high chance of getting their orders closed, as they will not have enough money to maintain the margin.

In our example, the total value of the portfolio is $100k. At the same time, a position is opened for a long $BTC worth $20,000. Since the Leverage of the account is 10x, we only need to cover 1/10th of the order value from our balance, or ~$2000 ($1,987 to be exact), or 2% of the total portfolio value.

Now, let’s open another position. For example, to short $ETH for the same amount of $20k. Even though we now have 40% of our portfolio in open trades. We are only paying 2.68% in margin collateral, or $2,664.89. CVEX, thanks to its VaR-based margin system, realises that $BTC and $ETH are largely correlated assets, so if one trade fails, the second one must cover the potential losses.

This means that the overall riskiness of the portfolio is reduced, and the trader can pay less for margin utilisation. By the way, a lot is written about it in our documentation: https://docs.cvex.xyz/

3. Equity

Equity is the current value of the account and fluctuates with every tick when looking at your trading platform on your screen. It is calculated using the formula USDC Collateral — Open P&L.

4. Open P&L

How much money you will gain or lose if you close all your positions at the current market price.

5. USDC Collateral

All of the trader’s assets that are on the balance sheet are used to cover the margin on open orders or will be used to cover losses from failed trades

6. Required Margin

The amount of funds required to maintain open positions at a given moment.

7. Available to Decrease

The amount of funds available for withdrawal from the trader’s balance to his wallet now.

Step 6: Analyse Your Trades

At the bottom of the screen, you can find a tab dedicated to open positions and orders, as well as the trading history of this account:

Here a trader can keep track of all open positions, as well as get full analytics of his actions on the platform to further study and improve his trading.

Let’s get more detailed!

1. Open Positions

In this tab, CVEX shows the trader all of his currently open positions. These include:

Contract name (e.g., BTC-28JUN24);
Size of the position in tokens;
Net Value of the position;
Average entry price (average price at which the asset was bought/sold);
Mark price;
Margin (isolated to maintain this position);
Leverage (used to open this position);
Unrealised P&L (how much money will the trader get or lose if decides to close the position right now using the market price);
ADL rank (If the insurance fund is insufficient or the liquidation order is not fully executed due to low liquidity, Auto-Deleveraging, or ADL, will be activated. Once ADL is activated, the system will reduce the counter positions of the liquidated traders by profit and leverage based on the Mark Price at the time of trigger).

2. Trade History

Here, a trader can view the entire history of his positions (their opening and closing) for a specified period of time (1 day, 1 week, 1 month, 3 months, or a custom date value).

Among other things, CVEX shows when a position was opened or closed, the initial and average entry price, position size, selling price, realised P&L, and the number of commissions paid.

3. Open Orders

In this section, the trader is shown all his open orders, including Order ID, Contract Name, and additional information on price, quantity, and number of tokens already filled in the order. There is also an important button to close an open but unexecuted order.

4. Order History

Pretty similar to the “Trade History” tab but makes accents on orders and their peculiarities, not on positions, like the trader’s role (taker/maker), the type of the order, etc.

5. Transactions History

Here, a trader can see all the information about depositing or withdrawing funds from the platform and sort it based on the execution date.

Step 7: Analyse Charts

The main window of the CVEX platform, where the trader can see all information regarding contracts, current price, orderbook, and so on:

1. Choosing Contracts

On the left side of the screen, a trader can see a list of all available contracts for trading and search by name or ID. In the contract name, you can read the name of the token being traded (e.g., ETH means ETH/USDC) and the expiration date (e.g., 28Jun24 means June 28th, 2024). Also, next to the contract name, you can see the Last Price in this token pair.

2. TradingView Charts

This is where the entire technical analysis toolkit is located for the user. The trader can view the chart, change the timeframe, draw technical analysis elements like Fibonacci grids, calculate the potential profit, etc. You can read more about the functionality of TradingView, which is fully integrated into the CVEX platform, here: https://www.tradingview.com/charting-library-docs/latest/getting_started/Key-Features

In the same window, the trader is shown information about Mark, Index, and Last Price. You can read more about them in our recent article.

3. Contact Details

In Contract Details, the trader can access information about the token being traded (their website and documentation for basic fundamental analysis) as well as details about the CVEX contract, such as tick size.

4. Order Book

Finally, on the right side of this large window, the trader can see the order book of the selected contract, with all the long or short orders, their total value at different price values, and the number of tokens that will be bought or sold at these values. If the “Trades” tab is clicked, the user will get information about all recent trades made within this contract.

Step 8: Adjust Your Settings

In the top-right corner, you can adjust your settings and get some useful links:

In these three tabs, you can get to the rest of the CVEX protocol, such as our social media, documentation, Affiliate Dashboard, and so on. Also, under the gear icon, you can see the platform’s appearance settings. You can hide or reopen additional tabs by clicking on it, such as TradingView Charts.

Leave Your Feedback

Clicking on the icon with an exclamation mark opens a menu for communication with the CVEX development team. Here, the trader can report bugs and offer his vision of the platform through the “Suggest Feature” button.

Also, you can suggest an improvement directly by following this link and basic authorisation via social media or email: https://cvex.nolt.io/.

Conclusion

We hope this guide has given you a clear understanding of what to expect from our Public Testnet. Our team has worked tirelessly to ensure the features and UX/UI meet and exceed your expectations. Your feedback is invaluable as it helps refine and perfect our platform. We encourage you to report bugs, suggest new features, or simply share your experience. Connect with our vibrant community and stay updated through our official channels:

Let’s make the world of DeFi trading better, one step at a time. Your journey with CVEX is just beginning, and we’re thrilled to have you on board.

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5 min read

CVEX Closed Testnet Officially Launched

Crypto Valley Exchange (CVEX) team is excited to invite you to the first look at our Closed Testnet starting March 14th, 2024. This is a key moment in our journey towards enhancing DeFi Trading, leading up to our Public Testnet on March 21st and the full Mainnet release in the summer of 2024.

We have a simple goal: to offer you a trading platform that combines the best of both worlds — traditional finance’s stability and DeFi’s innovation. The Closed Testnet launch is your opportunity to get a hands-on feel for what we’ve been building on our protocol.

Starting March 14th, Closed Testnet is open for these users:

Zealy winners: 100 and 50 winners of the first and the second Zealy sprints, respectively;
Alpha-tier affiliates: users who invited the most friends on the platform at the time of the snapshot;
Influencers: our ambassadors and other crypto enthusiasts who showed their support to the project;
CVEX’s team: we also want to hit buttons.

Inside the CVEX Closed Testnet

The Closed Testnet is more than just a sneak peek; it’s your playground to explore features that aim to improve your trading experience:

Futures Trading. Dive into futures trading with functionalities such as Reduce-Only Orders, Post-Only Orders, and TIF (Time in Force) Orders.
Multichain Support. Connect from a broader ecosystem with Ethereum, Arbitrum, Optimism, and Base support, enabling a seamless trading experience across multiple blockchains.
Wallet Connect Integration. Connect effortlessly with over 170 wallets (Please notice that wallets are limited by those supporting EIP-712 Standard).
Customisable Layout. Tailor the trading interface to suit your preferences, enhancing your trading experience.
Advanced Charting. Utilise Trading View charts for Last, Mark, and Index Prices, providing the tools needed for in-depth market analysis.
Comprehensive Trading Data. Access Contracts, Orderbook, Trades, Price Line, User’s Operations, and Portfolio Widgets for detailed insights into your trading activities.
User’s Account Details. Keep track of your account specifics easily, ensuring you’re always informed about your portfolio risks.
Gasless Transactions. Enjoy Meta Transactions, allowing for a smoother and cost-efficient trading experience.

What’s Coming Next

Our path to the Mainnet is filled with exciting feature rollouts planned to make your trading experience even better:

Batch Actions. Execute multiple operations simultaneously, saving on gas fees and leveraging VaR Margin for optimal trading efficiency.
User Interface Enhancements. Expect a reworked list of markets, account details, and order configuration, making the platform more accessible for newcomers.
Relaxed Mode. Benefit from more efficient (cheaper) transaction execution, optimising your trading strategy.
Leverage Configuration & Risk Model Rework. Gain access to higher leverage through a refined risk model and leverage settings.
Advanced Trading Features. Look forward to Confirmation-less trading (Trusted Mode), Trading Strategies, and more, catering to novice and experienced traders.
Comprehensive Analytics. Dive deep into Protocol, Platform, and Portfolio Analytics, providing you with the insights needed to make informed decisions.
Affiliate Program Enhancements. Enjoy a robust Affiliate Rewards Distribution Service and Affiliate Dashboard Analytics, among other advanced features.
Cross-Chain & Multi-Account Capabilities. Experience seamless CCTP Integration for cross-chain funding and Multi-Account Mode for diversified trading strategies.
Market Maker & Trading Automation. Leverage our API/SDK for Market Makers and programmatic trading, enhancing trading efficiency for professionals.
Data Integration & Accessibility. Migration to Chainlink Data Streams for decentralised, accurate and timely market data, alongside Localisation and Light Theme options for improved platform accessibility.
Mobile App. Stay connected and trade on the go with our upcoming mobile application, ensuring you take advantage of every trading opportunity.

Please notice that future scope is subject to change by insights gained during the Testnet phase.

We Value Your Feedback

Your insights are crucial as we fine-tune CVEX. The Testnet phase is about collaborating with our community to ensure the platform meets your needs and expectations.

We also have a little gift for those with an exclusive NFT for early Testnet access. We’ve prepared a special Discord channel where you can talk to our team, other testers, and famous crypto enthusiasts all over the world. To get there:

visit our Guild;
claim an “Early Testnet Adopter” role;
Join the Discord channel.

Be Part of the Journey

We’re on a mission to improve decentralised trading, and your input is key. Your feedback and support are invaluable as we aim to build a platform that truly resonates with the community’s needs.

So, ready to join? Check out our Testnet here: https://testnet.cvex.trade/

You can also find us here:

Website — https://cvex.xyz/

Twitter — https://twitter.com/cvex_xyz

Telegram — https://t.me/cvex_xyz_ann

Discord — https://discord.gg/DRma7Z9BTz

Keep an eye out for further updates, and get ready to take your trading to the next level with CVEX.

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