Accounts

To trade on Dexodus, users need a Dexodus account, which is automatically created when they connect their external wallet (such as MetaMask) to the platform. This specialized account is designed to streamline the trading process and provide several key benefits.

Dexodus Account Overview

A Dexodus account is essential for traders as it serves as the primary platform for executing trades. To start trading, users need to deposit USDC into their Dexodus account. This USDC will be used to create positions and provide the necessary collateral for those trades.

Key Features of Dexodus Accounts:

Collateral Management

USDC Deposits: Users deposit USDC into their Dexodus account. While this USDC itself is not used as collateral directly, it is available for users to utilize when creating trading positions, which will then use it as collateral.

Gasless Transactions

Gas Sponsorship: One of the standout features of the Dexodus account is that it supports gasless transactions. Dexodus fully sponsors the gas fees for all transactions made within the Dexodus platform, meaning users do not need to hold Ethereum (ETH) in their wallets to cover these costs.

User Convenience: This gas sponsorship simplifies the trading process, as users can focus on their trading strategies without worrying about maintaining a balance of ETH for transaction fees.

Setting Up and Using a Dexodus Account

Automatic Account Creation

Connecting Wallet: Users simply need to connect their external wallet (such as MetaMask) to Dexodus. The Dexodus account is automatically created, linking it seamlessly to their wallet.

No Additional Steps: There is no need for a separate sign-up process; the account setup is instant upon wallet connection.

Deposit USDC

Funding the Account: After connecting their wallet, users need to deposit USDC. This USDC will be used to create trading positions, serving as the collateral for those trades.

Seamless Deposits: The platform supports seamless USDC deposits, allowing users to transfer funds directly from their wallets into their Dexodus account.

Trading Without Ethereum

Gasless Trading: With the Dexodus account funded with USDC, users can start trading without needing to hold any ETH. All transaction fees are covered by Dexodus, making the trading experience more efficient and cost-effective.