CVEX Testnet: Frequently Asked Questions

May 7, 2024

We carefully gathered dozens of questions about testnet activities and our plans on CVEX that are interesting to users. So, search for everything you need below and share your wisdom with others. 

About Testnet

How can I get an “Early testnet adopter” role?

Unfortunately, this role is no longer available, but you still have a chance to participate in other activities. 

Find more information here:

Why isn’t CVEX Guild being updated? 

We manually update all the data about users' progress every few days. So, please wait a bit and check Guild after a while. However, if you think enough time has passed, and the information still hasn't been released, contact our worker bees in Discord.

Can I share CVEX achievements conditions in the chat?

No. Sharing descriptions of achievements you have unlocked in the official chat rooms and CVEX community channel is forbidden. Nevertheless, we cannot regulate your actions outside our official community.

How do I participate in the CVEX Tetnet? 

The basic logic of our Testnet revolves around the XP points system. The number of XP points you earn is directly proportional to your contribution to testing the platform and our marketing activities. To earn points, you can complete achievements in our trading terminal, refer your friends, and follow our social media closely to avoid missing new features.

More information on our lending.

Are there any guides on CVEX Testnet?

Yes. We have put a lot of effort into trying to provide you with up-to-date guides about our CVEX testnet and trading in general. 

You can find them here:

Youtube —;

Blog —;


I found a bug. What should I do?

Firstly, we appreciate your participation! We’re still in the testnet phase, so we’re constantly working on improving our terminal and providing you with the best possible experience. If you find a bug, you can report it on our terminal.

Check out this video guide to learn how. 

How can I suggest a feature?

It's always good to hear new ideas. If you know what would make CVEX better, let us know at this link:

Why doesn't Galxe accept my tasks?

Galxe is a perfect platform for our connection with you. However it operates with tons of data every day and need time to process it. Please, make sure you completed all requirements mentioned in the task and wait a while. If the problem persists, contact our community guys for help.

About our Roadmap

Is there a mobile version of CVEX platform?

No, a mobile version is currently in development. Please look forward to upcoming updates where we plan to introduce a mobile-friendly trading experience.

Will there be a white theme?

Yes, we are actively working on designing a light theme for our platform. This option will be available in a future update to provide our users with more visual choices.

Can I place a stop loss/take profit?

Not yet, but we are committed to broadening our list of risk management tools, including the addition of stop loss and take profit functionalities. These features will enhance trading strategies and improve risk management on our platform.

Is it possible to avoid signing a transaction every time?

Not currently, but we are developing a trusted mode that will allow users to execute transactions without needing to sign each one individually. This feature will also help save on transaction fees and improve the trading experience.

Will there be contracts for meme tokens in the future?

Yes, we are open to expanding our offerings to include meme tokens. We understand the popular demand and are considering how best to integrate these into our platform.

Will it be possible to trade COMMODITIES in the future?

Yes, we are working on the technical aspects of integrating commodities into our platform. Once we can ensure reliable pricing models, we will offer commodities trading to meet our users' diverse investment needs.

About Trading Activities 

What types of orders exist?

In the CVEX Platforms, there are two primary types of orders used:

  • Market Orders: Executed immediately at the current market price, designed for traders prioritising speed over control of the execution price.
  • Limit Orders: Specify a price limit for buying or selling an asset, providing control over the execution price but not guaranteeing execution.

What will happen to my position if the contract expires?

If the contract expires, a position gets settled, and profits and losses are distributed based on the latest Index price.

What should I do if my Margin utilisation level is over 90, and I cannot close my position? 

While in the testnet stage, you can just use the faucet and click ‘increase’ under account details. As a result, your balance will be replenished, and the margin ratio will be lowered. However, we recommend not bringing your account to this state and keeping a close eye on the margin ratio to avoid such a situation.

We recommend you to read this article, where you can learn more about margin ratio:

What is the index price?

The Index Price is provided by the Price Oracle and is used in the calculation of the Mark Price for futures and perpetual contracts on the CVEX Protocol. It reflects the real-time price of the underlying asset.

Check out this guide for a better understanding of pricing models:

What is the mark price?

The Mark Price in the CVEX Protocol is continuously re-evaluated to reflect the contract's fair price, serving as an anchor to the market's perception of the true value of a contract, independent of immediate order book fluctuations. It is used to assess traders’ position value for futures and perpetual contracts, which is used to calculate equity and maintenance margins. 

The Mark Price is calculated from the Index Price of the underlying asset, provided by the Price Oracle, and the Last Price, obtained from the contract's order book. The Last Price is the median value between the lowest ask and the highest bid prices in the CVEX order book, averaged for the Index Price updates. The protocol computes the contract basis as a moving average of the difference between the Index Price and the Last Price, and the current Mark Price is calculated by adjusting the current Index Price with the basis.

Check out this guide for a better understanding of pricing models:

How can I increase my leverage?

To increase your leverage on the Crypto Valley Exchange, you can employ hedging strategies. For example, holding a balanced long position in Ethereum (ETH) and a short position in Bitcoin (BTC) can extend leverage up to 15x. 

Additionally, for larger options portfolios that are well-hedged, particularly where the delta of the portfolio is well managed, you can build a cost-effective book of options with leverage ratios reaching up to 1000x. It's also noted that leverage varies for commodities, ranging from 10x to significantly higher depending on the commodity's volatility.

Also,we are working on manually adjustable leverage, which should be done for public mainnet release.

I don’t have ETH for commissions will I be able to trade?

Yes. You don't have to have ETH in your wallet to trade on CVEX.

While we are in the testnet stage, you use our inbuilt faucet, so you don't need money at all. At the mainnet stage, CVEX will use the meta-transaction principle. In short, when you open an order or perform any other action that executed on-chain CVEX pays gas for you and then compensates it through operational fees.

So you don't have to worry if you don't have ETH in your wallet.

What is the Trading fee and operational fee?

The Operational Fee is a fixed cost for each trade, paid in USDC from traders' collateral deposits, designed to compensate for the gas used by protocol participants in managing traders' orders and positions. It is independent of trade size and is directed to the platform's Operational Fund.

The Trading Fee is a relative fee based on the notional value of each order. The collected trading fees are distributed between the Platform Fund and the Protocol Fund, with the Platform Fund covering the expenses of platform operators and the Protocol Fund allocated for staking rewards, protocol development, and operational needs.

What measures does CVEX take to ensure the security and stability of its decentralised derivatives exchange?

CVEX ensures the security and stability of its decentralised derivatives exchange through several measures, particularly in volatile market conditions:

  • On-chain Portfolio Risk Management: CVEX employs a Value-at-Risk (VaR) model for on-chain portfolio risk management, allowing traders to utilise higher leverage while maintaining controlled risk exposure. This model accounts for volatility, correlations, and tail risks to estimate potential losses within a specified confidence interval.
  • Automated Clearance Bots: The exchange uses automated Clearance Bots that operate within set risk parameters deterministically to reinforce stability and security. These bots are part of an active market monitoring system.
  • Risk Oracles: Specialised Risk Oracles adjust risk parameters in real-time to adapt to market changes, ensuring that the exchange can respond quickly to fluctuations in market conditions.
  • Fully Automated Default Funds: An extra layer of protection is provided by fully automated Default Funds, which help maintain market stability in volatile conditions.
  • Advanced Margin Methodology: The CVEX Protocol calculates margin requirements using dynamic risk models that align collateral obligations with the actual risks of traders’ portfolios. This includes a concentration adjustment to limit risks from an overconcentration of open interest in a single portfolio.
  • Liquidation Protocol and Counterparty Risk Management: The liquidation protocol prioritises market order liquidations to realise fair value, utilising the Default Fund where necessary to cover losses. Counterparty liquidations are a last resort, utilised only to preserve market balance when all other measures are exhausted.

Do you have risk management tools?

Yes, the protocol incorporates risk management tools and strategies. These include:

Transparent Risk Parameters. The platform operates with transparent risk parameters encoded into smart contracts to mitigate trading risks.

Independent Account Management. Each account is treated as an independent entity with its own risk profile, enabling precise risk management.

Also, you may read the article on our VaR-Margin system to understand more:

How to partially close the position?

To close a part of a position, you can do the opposite action. If you open a long position, you need to sell the part of the contract by which you want to reduce your position. If you opened short, you should do the opposite.

It is important to click on the ‘Reduce-only’ checkbox when opening a new order.