Double Bull DeFiZap Walk-through Tutorial.
Learn how to long ETH + BTC with 2x leverage in a single transaction.
| Nov 7 | Public post |
What does Double Bull Zap do?
Your deposit is automatically split into opening Perpetual (no expiration) 2x Long on ETH(dLETH2x) + BTC(dLWBTC2x).
For example, if you send 1 ETH to DoubleBull.DeFiZap.eth:
0.5 of your ETH will go towards opening Perpetual BTC Long position with 2x leverage.
0.5 ETH will be used to open Perpetual ETH Long with 2x leverage. This means you will have exposure to 1 ETH (0.5x2).
Walk-through tutorial depositing 1 ETH to Double Bull Zap:
Navigate to https://defizap.com/zaps/doublebull
Click buy and enter your investment amount.
*When your wallet’s notification comes up, double check to make sure you are sending your intended amount. Click confirm when you are ready.
Wait for your transaction to clear. You can follow progress on etherscan. Here’s my transaction depositing 1 ETH: https://etherscan.io/tx/0xae6641e92ca5aa22a45fc0cf9c6c4516f4d1f00a223f95b33448966937e8784a
ENS INSTRUCTIONS:
Double Bull Zap smart contract address was registered with the Ethereum Name Service under DoubleBull.DeFiZap.eth so that margin trading ETH+BTC positions is as easy as sending a text. *Just make sure to set your Gas Limit to 5,000,000 @3GWEI before sending your transaction.
What happens after you deposit ETH to Double Bull Zap?
After sending your deposit, you will immediately receive allocated bZx tokens (dLETH2x+dLWBTC2x) which track your open margin trade positions.
Soon you will be able to manage your purchased assets right from DeFiZap Dashboard but for now you can visit Fulcrum.Trade to view your balances and trade your positions.
Check out this tutorial to see how Fulcrum works.
Risks:
DeFiZap is an experimental system of smart contracts. Even though our smart contracts never hold your funds, you should always use caution. You can view all smart contract source code on our Github. We are currently in the process of performing a 3rd party security audit.
⚡️Which Zap would you like to see next?
Submit a request and we will create a custom allocation for your needs.
Useful resources:
🤖 Kyber Virtual Hackathon Devpost
⚙️ Github
💬 Telegram
Disclosure: This is not investment advice. Please consult your own independent investment advisor before making any investment decisions.