Learn how to place BTC short & ETH 2X margin trade on Fulcrum in one transaction.
|Nov 1||Public post|| 2|
What does ETH Maximalist Zap do?
For example, if you send 1 ETH to ETHMax.DeFiZap.eth:
0.5 of your ETH will go towards opening a Perpetual (without expiration) BTC Short position on Fulcrum exchange.
and 0.5 ETH will be used to open a Perpetual ETH Long with 2x leverage. This means you will have exposure to 1 ETH (0.5x2).
Walk-through tutorial depositing 1 ETH to ETH Maximalist Zap on DeFiZap.com:
Navigate to https://defizap.com/zaps/ETHMaximalist
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: https://etherscan.io/tx/0xbcd1d70877f900f5763db7c69c2e6796c78bf00898c7e501d6ba3791f0e6df5e
NOTE: This Zap’s smart contract address was registered with the Ethereum Name Service under ETHMax.DeFiZap.eth so that getting instant exposure to 2X ETH Long and BTC Short is as easy as sending a text.
Why use ETH Maximalist Zap as opposed to interacting with Fulcrum on your own?
Average transaction cost to go from ETH->dLETH2x+dsWBTC through DeFiZap=$3
Average tested transaction cost to go from ETH->dLETH2x+dsWBTC on your own= $4
You can review all transactions here.
What happens after you deposit ETH to ETH Maximalist Zap?
After sending your ETH, you will immediately receive allocated tokens (dsWBTC+dLETH2x) which track your trade positions.
Once you receive these tokens you can visit Fulcrum.Trade to view your ROI and close positions. Check out this tutorial to help you use Fulcrum. Soon you will be able to manage your positions and assets directly from DeFiZap Dashboard.
Margin positions are subject to liquidations. Please keep in mind nothing mentioned is investment advice. Please do additional research.
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.
⚡️Do you use more than one DeFi protocol (e.g. Compound + Fulcrum)? Submit a request and we will create a custom Zap for your needs.
Special thank you to the DeFi community for providing valuable feedback 🙌