Answers to your most pressing questions!
Where can buy tokens?
✅ STRP Contract: 0x97872EAfd79940C7b24f7BCc1EADb1457347ADc9
Our native $STRP token was launched on Oct 13, 2021 on MISO and Polkastarter.
The IDO was completed on MISO at $5 and Polkastarter at $2.
When the time comes.
Strips is a decentralised interest rate derivatives exchange. The first of its kind.
We are initially launching on Arbitrum and subsequently on BSC. We are actively exploring other L2 sidechains and any feedback is welcome.
We are targeting mainnet launch in Q1 2022.
We have completed audits by Certik and Peckshield. We are currently completing audits by Trail of Bits.
The market fixed rate is calculated approximately according to the formula (actual formula is more complicated)
market rate = long/short * initial rate
The more longs there are in the market, the higher the fixed rate, and the more shorts there are in the market, the lower the fixed rate.
The floating rate is updated every 1 hr
For long positions, because you pay fixed rate and receive floating rate, a higher floating rate will increases your profit. For short positions, if the floating rate decreases, you will increase your profits.
No, the change in BTC futures price doesn't affect your PnL directly. However, the BTC funding rate often increases when the price of BTC goes higher. Hence, there is a positive correlation.
The market fixed rate is determined by the market supply and demand of buyers and sellers. The market fixed rate reflects the market’s long term expectation of future floating rates.
- 1.Technically, the more traders come into the market to trade, the more likely for market fixed rate to show strong positive correlation with floating rate. Allowing more traders with various trading purposes is critical to build an efficient interest rate market and eventually achieve decentralisation of interest rates.
- 2.Oftentimes perpetuals can trade higher than spot, because the perpetuals price is determined by the market buyers and sellers for those perpetuals, which is also called contango.
- 3.In the short term, it depends on whether the market believes in the same as you, which is determined by market buyers and sellers.
- 4.In the long term, it the market fixed rate and floating rate should converge closer.
Futures and index price may be different
When you open new positions, you can see your entry level on the confirm page
Once you opened positions (even multiple), you can always see your average entry level
At the moment, we don’t show close price, but only show the PnL based on closing price, we will add to the next release.
If you see “Max notional was surpassed”, this is because your position is too big which add too much net exposure risk to AMM, based on AMM’s current TVL, it is unable to quote you a price and be your counterparty.
If on the confirm page, you see “estimated Margin is less than 3.5” then it means: your leverage is too high for such position, and your position will be liquidated very fast, and hence to protect traders, please try lower your leverage level.
- 1.Once we go live on mainnet, users will be able to stake USDC-STRP Sushi LP tokens into the AMM to earn trading fees, incentive rewards and more LP tokens.
- 2.As an example, on day 1 of the trading competition, the AMM realized profits were:
- 1.FTX BTC Perp AMM profit = $150,664
- 2.Binance BTC Perp AMM profit = $580,024
- 3.This $730,689 profit in USDC will be given out to all AMM stakers as staking profit. If you want to be part of the stakers to receive this USDC income, you must buy and stake STRP token into STRP-USDC LP tokens in order to stake.
- 4.As the price of STRP increases, the liquidity rewards given out to stakers will be more valuable, and the APY will increase.