Strips Finance
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FAQ
Answers to your most pressing questions!

General information

Where can buy tokens?

Token information

βœ… Official website: https://strips.finance​
βœ… Whitepaper: https://bit.ly/3AcVST7​
βœ… STRP Contract: 0x97872EAfd79940C7b24f7BCc1EADb1457347ADc9
βœ… Official twitter: https://twitter.com/StripsFinance​
βœ… Official telegram: https://t.me/stripsfi
βœ… Official telegram announcements: https://t.me/Strips_Finance
βœ… Official discord group: https://discord.gg/xuvGUdC6Cb​
βœ… Official reddit: https://www.reddit.com/r/StripsFinance/​
βœ… Official medium: https://strips-finance.medium.com/​

About STRP token

When was the token launch?

Our native $STRP token was launched on Oct 13, 2021 on MISO and Polkastarter.

What price was the IDO?

The IDO was completed on MISO at $5 and Polkastarter at $2.

What is the tokenomics?

Check out our whitepaper https://bit.ly/3bzIYUw​

Where can I buy the token?

What is the current market cap?

Is there a chart of the price?

Wen Binance / Wen listing?

When the time comes.

Wen moon?

Zoom out.

About Strips

What is Strips?

Strips is a decentralised interest rate derivatives exchange. The first of its kind.
Read more in our whitepaper https://bit.ly/3AcVST7​

What chain(s) will you launch on?

We are initially launching on Arbitrum and subsequently on BSC. We are actively exploring other L2 sidechains and any feedback is welcome.

When will mainnet be launched?

We are targeting mainnet launch in Q1 2022.

Audit?

We have completed audits by Certik and Peckshield. We are currently completing audits by Trail of Bits.

Where can I stake?

You can start staking STRP-USDC Sushi LP tokens on Arbitrum at https://app.strips.finance/liquidity. Read our guide here.

How is profit/loss calculated?

Take a look at our Profit/Loss Guide​

How is market fixed rate decided?

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.

What is the update frequency of the floating rate?

The floating rate is updated every 1 hr

How does floating rate change affect my PnL? Does underlying BTC futures price affect my PnL?

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.
  1. 1.
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Why is the fixed rate different from the floating rate?

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. 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. 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. 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. 4.
    In the long term, it the market fixed rate and floating rate should converge closer.
    ​
Futures and index price may be different

Where can I check my entry and exit levels?

When you open new positions, you can see your entry level on the confirm page
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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.

Why can’t I open certain positions? What do some of the error messages mean?

"Max notional was surpassed"

If you see β€œMax 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.
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"estimated margin is less than 3.5"

If on the confirm page, you see β€œestimated 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.
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What is the incentive of holding STRP?

  1. 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. 2.
    As an example, on day 1 of the trading competition, the AMM realized profits were:
    1. 1.
      FTX BTC Perp AMM profit = $150,664
    2. 2.
      Binance BTC Perp AMM profit = $580,024
  3. 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. 4.
    As the price of STRP increases, the liquidity rewards given out to stakers will be more valuable, and the APY will increase.
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On this page
General information
About STRP token
When was the token launch?
What price was the IDO?
What is the tokenomics?
Where can I buy the token?
What is the current market cap?
Is there a chart of the price?
Wen Binance / Wen listing?
Wen moon?
About Strips
What is Strips?
What chain(s) will you launch on?
When will mainnet be launched?
Audit?
Where can I stake?
How is profit/loss calculated?
How is market fixed rate decided?
What is the update frequency of the floating rate?
How does floating rate change affect my PnL? Does underlying BTC futures price affect my PnL?
Why is the fixed rate different from the floating rate?
Where can I check my entry and exit levels?
Why can’t I open certain positions? What do some of the error messages mean?
What is the incentive of holding STRP?