Equinox Trading Walkthrough

This post was originally published on Injective

Welcome to Injective’s Equinox Exchange walkthrough.

We aim to collect feedback from our community in a short period of time to ensure that the exchange’s functionality is working properly before we release our Mainnet. In the meantime, we are making preparations for the Genesis Ceremony and the deployment of our Peggy Bridge.

This walkthrough will guide users on how to mint tokens on the Kovan Network, while also diving into the Injective Chain transfer process and trading.

The DEX runs on the Equinox Staking instance, therefore users can also make trades in the INJ/USDT market using INJ tokens in their Injective Chain balance.

Available Spot and Perpetual Markets

Connecting a Wallet

  1. Go tohttps://testnet.injective.exchange
  2. Click the “Connect to wallet” dropdown button in the top right-hand corner
  1. Choose your wallet and approve the signature

Minting Tokens

  1. For this example, we will mint USDT tokens with the respective contract. Users can follow the same procedure for minting any of the token contracts shown above.
  2. Go to https://kovan.etherscan.io/address/0x69efCB62D98f4a6ff5a0b0CFaa4AAbB122e85e08#writeContract
  3. Click “Connect to Web3” and sign the transaction with MetaMask
  1. Finally, select the “mint” function and click on the write button. Confirm your transaction on MetaMask. A pop-up will appear to indicate that you have successfully minted 100 Kovan USDT.

Transferring & Depositing the USDT

  1. Go to https://testnet.injective.exchange
  2. Click “Spot” or “Derivatives”. Here you can find a dropdown list of all available markets. For this example we will make trades on the BTC/USDT perpetual swap contract.
  3. Click “Transfer” in the Injective Chain Balances tab in order to transfer the USDT from the Kovan Network to the Injective Chain.

4.   Click “Set Allowance” and approve the transaction on MetaMask.

5.   Click “Deposit” under the SubAccount Funds tab and deposit your USDT. This functionality allows you to set the balance you want to make available for trading.

Trading on the DEX

The section here will guide you through placing trades on Injective.

Placing a Market Order

Choose whether you wish to go long or short on the BTC/USDT contract. Select “Market” from the options. Enter the amount for your order and select your leverage multiplier. Click the “Buy/Long” or “Sell/Short” button to submit your market order.

Placing a Limit Order

Choose whether you wish to go long or short on the BTC/USDT contract. Select “Limit” from the options. Enter the amount for your order and select your leverage multiplier. Enter the price at which you want the order to be executed in the Price field. Click the “Buy/Long” or “Sell/Short” button to submit your limit order.

Cancelling Limit Orders

Go to the “Open Orders” tab and click the red trash icon on the right-hand side to cancel an order.

Closing Open Positions

Go to the “Open Positions” tab and click the circled X button on the left-hand side.

That is all! You are now equipped with the information needed to trade on Equinox.

If you have any further questions please join our Discord channel, where you will be able to speak directly with our team members.

About Injective Protocol

Injective is the first decentralized multi-chain exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective enables access to unlimited decentralized markets for futures, perpetuals, spots, synthetics, and much more. Injective is backed by a prominent group of stakeholders including Mark Cuban, Pantera Capital and Binance.

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