Quick start · shadowpaper Docs

What you need#

A BSC wallet. Browser-extension wallets such as MetaMask, Rabby, OKX Wallet or Binance Wallet, or any wallet that connects through WalletConnect.
USDT on BSC (BEP-20). At least 10 USDT to be credited, and at least 10 USDT of margin per position.
No BNB. Trades, orders, staking and claims are signed in the wallet and submitted by the relayer.

Get started#

The steps below follow one trader, Alice, from a 100 USDT deposit to an open position.

Deposit

Connect the wallet and open Deposit. The app shows a personal deposit address derived from the wallet address. Alice sends 100 USDT (BEP-20) to it; because the address holds at least 10 USDT, it is swept into the Exchange and her trading balance shows 100 USDT. See Deposits & withdrawals.

Sign one registration message in the wallet. The app generates a session key in the browser, valid for up to 30 days; subsequent trades and orders are signed by that key without wallet prompts. A session key can open, close and place or cancel orders, but cannot withdraw. See Session keys.

Open a position

Choose BTC or ETH, set margin and leverage, then choose long or short. Alice opens a BTC long with 100 USDT margin at 100×, a notional of 10,000 USDT, at a signed index price of 80,000. The ticket shows her liquidation price of about 79,237.70 before she confirms. A limit price, take-profit or stop-loss can be attached. See Orders: limit, TP/SL.

notional          = margin × leverage            = 100 × 100              = 10,000 USDT
liquidation base  = entry − entry ÷ leverage     = 80,000 − 800           = 79,200
liquidation price = base × (1 + bust buffer)     ≈ 79,200 × 1.000476      ≈ 79,237.70

← Scroll sideways for long formulas

Alice's position is open; her entire 100 USDT margin is at risk if the signed price reaches 79,237.70.

Before sizing up#

Liquidation forfeits the whole margin. Every position displays its liquidation price. At or beyond it, the full margin is forfeited. See Liquidation.
Wins may be queued. If the LP cannot pay a win in full, the unpaid profit joins a first-in, first-out payout queue. Margin is always returned immediately. See LP & payout queue.
Withdrawals require the wallet. Each withdrawal is signed in the wallet; the minimum is 10 USDT.

Warning

shadowpaper is unaudited and experimental. See Risk before depositing.