Jun 5, 2024

Jun 5, 2024

Jun 5, 2024

Velar Artha PerpDex Testnet on BOB: A Guide

Velar Artha PerpDex Testnet on BOB: A Guide

Velar Artha PerpDex Testnet on BOB: A Guide

We are pleased to announce the launch of the Velar Artha PerpDex testnet on Build on Bitcoin (BOB). This allows users to experience leveraged trading with up to 10x leverage on the first decentralized perpetual contracts exchange with Bitcoin finality. By participating in this testnet, you will have the opportunity to trade and provide valuable feedback to help us improve the platform.

We invite you to join us and be among the first to experience decentralized trading on BOB. Your participation in the testnet will not only provide you with hands-on experience but also contribute to the development of the platform. Your feedback will be valuable in helping us create a robust, user-friendly, and feature-rich perpetual contracts exchange.

To get started with the PerpDex testnet, follow the step-by-step guide below. If you encounter any issues or have questions, our community on Discord and Telegram is ready to provide support.


Step 1: Download and Setup MetaMask Wallet

To interact with the Velar Artha PerpDex and sign transactions, you will need to set up a MetaMask wallet. Download and install MetaMask from their official website.


Step 2: Set Up Your Wallet

Follow the instructions provided by Metamask to set up your account. Make sure to securely store your seed phrase, as it is crucial for recovering your account if you lose access to your wallet.


Step 3: Obtain Sepolia ETH and bridge to BOB

To get started with the Velar Artha PerpDex testnet on BOB, you'll need to acquire testnet ETH to cover gas fees. Here's a step-by-step guide to help you through the process:

Obtain Sepolia testnet ETH:

  • Visit FaucetLink, a reliable source for testnet ETH.

  • Follow the instructions on the website to request Sepolia testnet ETH.

  • Once the request is processed, the testnet ETH will be sent to your wallet address.

Bridge testnet ETH from Sepolia to BOB:

  • Go to the BOB testnet bridge at testnet.gobob.xyz.

  • In your MetaMask wallet, switch the network to the Sepolia testnet.

  • Connect your MetaMask wallet to the BOB testnet bridge.

  • On the bridge interface, select the amount of testnet ETH you want to bridge from Sepolia to BOB.

  • Confirm the transaction in your MetaMask wallet.

After completing these steps, you will have successfully acquired testnet ETH and bridged it from the Sepolia testnet to the BOB testnet. You'll now be ready to interact with the Velar Artha PerpDex testnet and start your trading journey.


Step 4: Connect Your Wallet to Velar PerpDex & Select BOB

To connect your MetaMask wallet to the Velar Artha PerpDex and start trading on the BOB network, follow these simple steps:

  • Navigate to the official Velar Artha PerpDex platform.

  • On the PerpDex interface, locate and click the "Connect Wallet" button.

  • Choose "MetaMask" from the list of options.

  • Review the connection request and click "Connect" to approve it.

  • Once your MetaMask wallet is successfully connected, look for the network selection drop down menu on the PerpDex interface.

  • Click on the dropdown menu and choose "Build on Bitcoin (BOB)" from the list of available networks.

  • MetaMask will prompt you to switch to the BOB network. Confirm the network switch.

By completing these steps, you will have connected your MetaMask wallet to the Velar Artha PerpDex and selected the BOB network. You are now ready to start exploring the platform's features and trading perpetual contracts with the security and finality of the Bitcoin network.

Remember to always exercise caution when connecting your wallet to any platform and ensure that you are interacting with the official Velar Artha PerpDex website to maintain the safety of your funds.


Step 5: Obtain vBTC and vUSDT from Velar Faucet

Head to https://perpdex.velar.com/faucet, connect your MetaMask wallet to receive vBTC and vUSDT to get started with trading on Velar Artha PerpDex testnet. Once you’ve received testnet vBTC and vUSDT, make sure to add these tokens in your wallet by clicking on “Import tokens” in your MetaMask and filling-in the contract address for both vBTC and vUSDT. Here are the contract addresses:

vBTC: 0xb72bB4728FF80141D5e9E7B237236448099F52aC

vUSDT: 0xAf3e89c80Cc6E3362b5D2B757beCB2774c4f98B5


Step 6: Select a Trading Pair

Choose the trading pair you wish to trade from the top-left corner of the PerpDex interface. Currently only one pair (vBTC-vUSDT) is live. In the coming weeks, more pairs will be made available for trading.


Step 7: Open a Long or Short Position

Using the side panel on the PerpDex interface, you can open a long or short position with up to 20x leverage. Adjust the leverage slider to your desired level, set the entry price, and specify the order size. Click "Long" or "Short" to open your position.

It’s worth noting that for opening a long position, you’d require vUSDT as collateral. Similarly for opening a short position, you’d need vBTC as collateral.


Step 8: Monitor Your Open Position

Once you have opened a position, it will appear in the "Positions" section of the PerpDex interface. You can monitor key metrics such as Net Value, Order Size, Market Price, Entry Price, Leverage, Collateral, and unrealized profit or loss. These metrics will be made available soon.


Step 9: Close Your Position

To close your position, click the "Close" button next to your open position in the "Positions" section. Upon closing the position, you can check the details under the “Trades” tab..

By following these steps, you can start trading on the Velar Artha PerpDex testnet on Bitlayer and experience the power of leveraged decentralized trading. If you encounter any issues or have questions, feel free to reach out to the Velar community on Discord for support.

Happy trading!

We are pleased to announce the launch of the Velar Artha PerpDex testnet on Build on Bitcoin (BOB). This allows users to experience leveraged trading with up to 10x leverage on the first decentralized perpetual contracts exchange with Bitcoin finality. By participating in this testnet, you will have the opportunity to trade and provide valuable feedback to help us improve the platform.

We invite you to join us and be among the first to experience decentralized trading on BOB. Your participation in the testnet will not only provide you with hands-on experience but also contribute to the development of the platform. Your feedback will be valuable in helping us create a robust, user-friendly, and feature-rich perpetual contracts exchange.

To get started with the PerpDex testnet, follow the step-by-step guide below. If you encounter any issues or have questions, our community on Discord and Telegram is ready to provide support.


Step 1: Download and Setup MetaMask Wallet

To interact with the Velar Artha PerpDex and sign transactions, you will need to set up a MetaMask wallet. Download and install MetaMask from their official website.


Step 2: Set Up Your Wallet

Follow the instructions provided by Metamask to set up your account. Make sure to securely store your seed phrase, as it is crucial for recovering your account if you lose access to your wallet.


Step 3: Obtain Sepolia ETH and bridge to BOB

To get started with the Velar Artha PerpDex testnet on BOB, you'll need to acquire testnet ETH to cover gas fees. Here's a step-by-step guide to help you through the process:

Obtain Sepolia testnet ETH:

  • Visit FaucetLink, a reliable source for testnet ETH.

  • Follow the instructions on the website to request Sepolia testnet ETH.

  • Once the request is processed, the testnet ETH will be sent to your wallet address.

Bridge testnet ETH from Sepolia to BOB:

  • Go to the BOB testnet bridge at testnet.gobob.xyz.

  • In your MetaMask wallet, switch the network to the Sepolia testnet.

  • Connect your MetaMask wallet to the BOB testnet bridge.

  • On the bridge interface, select the amount of testnet ETH you want to bridge from Sepolia to BOB.

  • Confirm the transaction in your MetaMask wallet.

After completing these steps, you will have successfully acquired testnet ETH and bridged it from the Sepolia testnet to the BOB testnet. You'll now be ready to interact with the Velar Artha PerpDex testnet and start your trading journey.


Step 4: Connect Your Wallet to Velar PerpDex & Select BOB

To connect your MetaMask wallet to the Velar Artha PerpDex and start trading on the BOB network, follow these simple steps:

  • Navigate to the official Velar Artha PerpDex platform.

  • On the PerpDex interface, locate and click the "Connect Wallet" button.

  • Choose "MetaMask" from the list of options.

  • Review the connection request and click "Connect" to approve it.

  • Once your MetaMask wallet is successfully connected, look for the network selection drop down menu on the PerpDex interface.

  • Click on the dropdown menu and choose "Build on Bitcoin (BOB)" from the list of available networks.

  • MetaMask will prompt you to switch to the BOB network. Confirm the network switch.

By completing these steps, you will have connected your MetaMask wallet to the Velar Artha PerpDex and selected the BOB network. You are now ready to start exploring the platform's features and trading perpetual contracts with the security and finality of the Bitcoin network.

Remember to always exercise caution when connecting your wallet to any platform and ensure that you are interacting with the official Velar Artha PerpDex website to maintain the safety of your funds.


Step 5: Obtain vBTC and vUSDT from Velar Faucet

Head to https://perpdex.velar.com/faucet, connect your MetaMask wallet to receive vBTC and vUSDT to get started with trading on Velar Artha PerpDex testnet. Once you’ve received testnet vBTC and vUSDT, make sure to add these tokens in your wallet by clicking on “Import tokens” in your MetaMask and filling-in the contract address for both vBTC and vUSDT. Here are the contract addresses:

vBTC: 0xb72bB4728FF80141D5e9E7B237236448099F52aC

vUSDT: 0xAf3e89c80Cc6E3362b5D2B757beCB2774c4f98B5


Step 6: Select a Trading Pair

Choose the trading pair you wish to trade from the top-left corner of the PerpDex interface. Currently only one pair (vBTC-vUSDT) is live. In the coming weeks, more pairs will be made available for trading.


Step 7: Open a Long or Short Position

Using the side panel on the PerpDex interface, you can open a long or short position with up to 20x leverage. Adjust the leverage slider to your desired level, set the entry price, and specify the order size. Click "Long" or "Short" to open your position.

It’s worth noting that for opening a long position, you’d require vUSDT as collateral. Similarly for opening a short position, you’d need vBTC as collateral.


Step 8: Monitor Your Open Position

Once you have opened a position, it will appear in the "Positions" section of the PerpDex interface. You can monitor key metrics such as Net Value, Order Size, Market Price, Entry Price, Leverage, Collateral, and unrealized profit or loss. These metrics will be made available soon.


Step 9: Close Your Position

To close your position, click the "Close" button next to your open position in the "Positions" section. Upon closing the position, you can check the details under the “Trades” tab..

By following these steps, you can start trading on the Velar Artha PerpDex testnet on Bitlayer and experience the power of leveraged decentralized trading. If you encounter any issues or have questions, feel free to reach out to the Velar community on Discord for support.

Happy trading!

We are pleased to announce the launch of the Velar Artha PerpDex testnet on Build on Bitcoin (BOB). This allows users to experience leveraged trading with up to 10x leverage on the first decentralized perpetual contracts exchange with Bitcoin finality. By participating in this testnet, you will have the opportunity to trade and provide valuable feedback to help us improve the platform.

We invite you to join us and be among the first to experience decentralized trading on BOB. Your participation in the testnet will not only provide you with hands-on experience but also contribute to the development of the platform. Your feedback will be valuable in helping us create a robust, user-friendly, and feature-rich perpetual contracts exchange.

To get started with the PerpDex testnet, follow the step-by-step guide below. If you encounter any issues or have questions, our community on Discord and Telegram is ready to provide support.


Step 1: Download and Setup MetaMask Wallet

To interact with the Velar Artha PerpDex and sign transactions, you will need to set up a MetaMask wallet. Download and install MetaMask from their official website.


Step 2: Set Up Your Wallet

Follow the instructions provided by Metamask to set up your account. Make sure to securely store your seed phrase, as it is crucial for recovering your account if you lose access to your wallet.


Step 3: Obtain Sepolia ETH and bridge to BOB

To get started with the Velar Artha PerpDex testnet on BOB, you'll need to acquire testnet ETH to cover gas fees. Here's a step-by-step guide to help you through the process:

Obtain Sepolia testnet ETH:

  • Visit FaucetLink, a reliable source for testnet ETH.

  • Follow the instructions on the website to request Sepolia testnet ETH.

  • Once the request is processed, the testnet ETH will be sent to your wallet address.

Bridge testnet ETH from Sepolia to BOB:

  • Go to the BOB testnet bridge at testnet.gobob.xyz.

  • In your MetaMask wallet, switch the network to the Sepolia testnet.

  • Connect your MetaMask wallet to the BOB testnet bridge.

  • On the bridge interface, select the amount of testnet ETH you want to bridge from Sepolia to BOB.

  • Confirm the transaction in your MetaMask wallet.

After completing these steps, you will have successfully acquired testnet ETH and bridged it from the Sepolia testnet to the BOB testnet. You'll now be ready to interact with the Velar Artha PerpDex testnet and start your trading journey.


Step 4: Connect Your Wallet to Velar PerpDex & Select BOB

To connect your MetaMask wallet to the Velar Artha PerpDex and start trading on the BOB network, follow these simple steps:

  • Navigate to the official Velar Artha PerpDex platform.

  • On the PerpDex interface, locate and click the "Connect Wallet" button.

  • Choose "MetaMask" from the list of options.

  • Review the connection request and click "Connect" to approve it.

  • Once your MetaMask wallet is successfully connected, look for the network selection drop down menu on the PerpDex interface.

  • Click on the dropdown menu and choose "Build on Bitcoin (BOB)" from the list of available networks.

  • MetaMask will prompt you to switch to the BOB network. Confirm the network switch.

By completing these steps, you will have connected your MetaMask wallet to the Velar Artha PerpDex and selected the BOB network. You are now ready to start exploring the platform's features and trading perpetual contracts with the security and finality of the Bitcoin network.

Remember to always exercise caution when connecting your wallet to any platform and ensure that you are interacting with the official Velar Artha PerpDex website to maintain the safety of your funds.


Step 5: Obtain vBTC and vUSDT from Velar Faucet

Head to https://perpdex.velar.com/faucet, connect your MetaMask wallet to receive vBTC and vUSDT to get started with trading on Velar Artha PerpDex testnet. Once you’ve received testnet vBTC and vUSDT, make sure to add these tokens in your wallet by clicking on “Import tokens” in your MetaMask and filling-in the contract address for both vBTC and vUSDT. Here are the contract addresses:

vBTC: 0xb72bB4728FF80141D5e9E7B237236448099F52aC

vUSDT: 0xAf3e89c80Cc6E3362b5D2B757beCB2774c4f98B5


Step 6: Select a Trading Pair

Choose the trading pair you wish to trade from the top-left corner of the PerpDex interface. Currently only one pair (vBTC-vUSDT) is live. In the coming weeks, more pairs will be made available for trading.


Step 7: Open a Long or Short Position

Using the side panel on the PerpDex interface, you can open a long or short position with up to 20x leverage. Adjust the leverage slider to your desired level, set the entry price, and specify the order size. Click "Long" or "Short" to open your position.

It’s worth noting that for opening a long position, you’d require vUSDT as collateral. Similarly for opening a short position, you’d need vBTC as collateral.


Step 8: Monitor Your Open Position

Once you have opened a position, it will appear in the "Positions" section of the PerpDex interface. You can monitor key metrics such as Net Value, Order Size, Market Price, Entry Price, Leverage, Collateral, and unrealized profit or loss. These metrics will be made available soon.


Step 9: Close Your Position

To close your position, click the "Close" button next to your open position in the "Positions" section. Upon closing the position, you can check the details under the “Trades” tab..

By following these steps, you can start trading on the Velar Artha PerpDex testnet on Bitlayer and experience the power of leveraged decentralized trading. If you encounter any issues or have questions, feel free to reach out to the Velar community on Discord for support.

Happy trading!

Stay ahead of the curve

Subscribe to our newsletter Bitcoin Bytes for timely insights, razor-sharp analysis, and real alpha about the rapidly evolving Bitcoin ecosystem.

No spam, only alpha!

Stay ahead of the curve

Subscribe to our newsletter Bitcoin Bytes for timely insights, razor-sharp analysis, and real alpha about the rapidly evolving Bitcoin ecosystem.

No spam, only alpha!

Similar to this

Similar to this

This guide covers the complete process of deploying and managing your pool on Velar - from initial setup to liquidity management.

This guide covers the complete process of deploying and managing your pool on Velar - from initial setup to liquidity management.

This guide walks you through each core feature, from bridging assets to earning yields through farming.

This guide walks you through each core feature, from bridging assets to earning yields through farming.

This comprehensive guide will explore how farming works for both existing and new pools

This comprehensive guide will explore how farming works for both existing and new pools

This guide covers the complete process of deploying and managing your pool on Velar - from initial setup to liquidity management.

This guide walks you through each core feature, from bridging assets to earning yields through farming.

©2024, All right reserved.

©2024, All right reserved.

©2024, All right reserved.