Ready to dive into the world of Yellow Terminal trading? This comprehensive guide will equip you with the knowledge to navigate the platform seamlessly.
Head over to https://wallet.yellow.com/applications and select "Yellow Terminal" to begin your trading journey.
Click on “Connect Wallet” in the upper right part of the screen, then select “Yellow Wallet”. You can authorise your existing Yellow Wallet or create a new one by choosing one of the available methods. Once connected, you will be asked to sign a one-time verification token with your wallet to authorize future on-chain transactions.
Use Quick connect option in the bottom of the screen or select a suitable node/broker from the available options, choose an appropriate package that will determine the margin size for your trades, and click 'connect' to proceed.
Note: At the moment only one channel can be established at a time.
A pop-up will appear, requesting you to fund your margin account on-chain. The size of the margin determines the purchasing power throughout the trading session and amount of safety tokens required to open a channel. The margin amount will be automatically taken from your Yellow Wallet, and be secured on the adjudicator smart contract. The margin will not take part in the settlement process and will be refunded upon channel closure.
Upon a successful channel connection, you'll be presented with the trading interface. This is your central hub for market analysis, order execution and position tracking.
You can now create short and long positions. There is no latency, no blockchain confirmation, and no transactions. The orders are instant.
When you create a position, you undertake the responsibility to settle it eventually. To secure this obligation between the trader and the broker, collateral in USDC is locked in a smart contract when the channel is opened from both sides.