How to start trading

What do I need to trade on WCM?

1. Deposit any asset listed in the spot market. Turn on 1-click trading.

2. Select a perps, spot, or loan market from the Order Panel or the Search Bar.

3. All positions are used as collateral for all other positions, which lowers your per-position liquidation prices. Read Available Margin & Collateral.

If an asset is listed in the spot market, you can deposit it and use it as collateral for all of your trading. Do not deposit any asset is not listed on the exchange.

If you are depositing assets from another chain, bridging is integrated into WCM's deposit workflow on the UI.

Read Accounts & Trade Only Access if you prefer a more secure setup. Never give us or anyone your private key, unconditionally.

How do I trade?

All markets and products on WCM are traded from the same interface. Order quantities are always rounded to a minimum order size. The quantity input will "jump" your input to the nearest order size increment.

We recommend reading Available Margin & Collateral before getting started to understand how WCM uniquely calculates your portfolio risk to unlock returns and lower your risk.

Paying funding rates in USDM

We recommend always holding a certain amount of USDM if you are trading perpetual futures. Perps are always settled in USDM. If you owe USDT on a perp payment, and have none, WCM automatically borrow USDM to settle the perps payment. You will then need to eventually pay the interest on the loan and repay the loan principal.

1-Click Trading

After depositing, you can turn on 1-click trading in the account drop down or in the account page.

When you turn it on, it will ask you for a password. Your password is used to create a wallet which will hold gas and sign for you in your browser without requiring additional clicks or confirmations.

If your 1-click trading wallet runs out of gas, you need to "top up," i.e. send it more ETH. WCM will alert you with a notification if your gas balance gets low.

When you turn off 1-click trading, the gas money is automatically withdrawn to your wallet.

Hotkeys

We love hotkeys! In the order panel, use u, i, o to switch between perps, spot, and lending markets in the order panel. Use j, k to switch between long and short. Hit command + enter to execute. To switch tabs in the trading table, use q, w, e, r .

MegaETH

MegaETH is an Ethereum Layer 2. It runs on a single sequencer, making it effectively centralized. Block times are ~10ms and gas is extremely cheap. We chose MegaETH, because we wanted an exceptionally fast and cheap trading experience for our users.

We think it is important that our blockchain is a general purpose Ethereum L2, to make bridging large size easy and secure. L1 blockchains suffer from a conflict of interest - if they increase the value of their token, hodlers are rewarded, but gas is more expensive which hurts users, applications, and network activity. L2s do not suffer from this challenge.

We believe DEXs especially benefit from general purpose chains due to platform economics.

Risks

Read Risk Parameters & Stats to understand how much leverage traders can take on WCM. Read Counterparty Risk to understand security and operational risks. Read Risks to read about general risks.

Bridging & Depositing

Users can bridge to MegaETH via the canonical bridge or intent based bridges serviced by individual providers. We recommend using the canonical bridge for any meaningful size, because it is free and secure. The UI integrates bridging into the deposit flow, allowing users to chose which bridge they use and where they bridge from.

The canonical bridging process is a mint and redeem function to avoid incurring slippage from bridging flows. The bridge has shared security with Ethereum mainnet, so users can comfortably bridge larger size.

You may bridge and deposit any asset that is listed in WCM's spot market.

Make sure to either use WCM's UI or call the exchange.deposit function to deposit. Never transfer assets to WCM, these assets will be lost, even if they are listed in the spot market.