📖Glossary

Roles

  1. User: A user is the collective term for anyone using the platform. Users can have different roles simultaneously, including Trader, Liquidity Provider (LP), and Holder.

  2. Trader: Traders are users who engage in trading on the exchange, including trading options and perpetual.

  3. LPs: LPs are users who provide liquidity on the exchange. They deposit Substance USD (USDX) into the exchange in exchange for SLP tokens and earn liquidity rewards.

  4. Holder: Holders are users who possess SEX tokens. Token holders can either hold tokens without interacting with the exchange or take on the roles of LPs or Traders.

  5. Staker: Stakers are users who lock SLP or SEX tokens to earn rewards. They can earn SEX token rewards.

  6. VIP: VIP users are those who have achieved specified trading volumes, SLP lockup amounts, or SEX lockup amounts to attain VIP status.

  7. Inviter: Inviters are users who send out invitation codes. When invitees use the inviter's invitation code, the inviter can earn rewards.

  8. Invitee: Invitees are users who use invitation codes provided by inviters.

Actions

  1. Trade: Refers to the actions of users on Substance Exchange (SubstanceX), which includes opening positions, closing positions, and exchanging assets.

  2. Perpetual: Involves opening and closing positions, as well as adjusting collateral on the Perpetuals page.

  3. Options: Involves opening, closing, and settling positions on the Options page.

  4. Buy SLP: Using USDX tokens to mint SLP tokens, also known as providing liquidity.

  5. Sell SLP: Burning SLP tokens to obtain USDX tokens, also known as removing liquidity.

  6. Stake SEX: Locking SEX tokens and earning SEX rewards.

  7. Stake SLP: Locking SLP tokens and earning SEX rewards.

  8. Unlock: Retrieving locked SLP or SEX tokens.

  9. Vest: Converting earned SEX rewards into actual tokens.

  10. 1ClickTrade: 1CTRefers to a feature that enables users to execute trades without receiving confirmation pop-ups.

Trade Interaction

Trading is one of the primary actions users take on Substance Exchange (SubstanceX). Users engage in trading to earn profits from Liquidity Providers (LPs) or may incur losses due to their trading activities.

Perpetual

  1. Perpetual: Cryptocurrency contract products settled in USDX. Users can profit from the rise or fall in the price of cryptocurrency by buying long or selling short contracts.

Menu Bar

  1. Borrow fee: The interest rate to be paid when borrowing funds.

  2. Open Interest Long (OI L): The total number of long positions held by long traders for specific futures contracts.

  3. Open Interest Short(OI S): The total number of short positions held by short traders for specific futures contracts.

  4. L/S Ratio: The ratio between long positions and short positions.

  5. Funding Rate: The funding fee paid or received by long and short positions based on the current open interest.

Trading Window

  1. Long: Open a long position to profit from price increases.

  2. Short: Open a short position to profit from price decreases.

  3. Market: Execute a market order based on the current market price without specifying a target price.

  4. Limit: Execute a limit order by specifying a target price for either a long or short position.

  5. Balance: The remaining funds available in the user's Exchange Wallet for trading.

  6. Available Liquidity: The remaining liquidity available for trading based on the liquidity pool.

  7. Position: The total position size for perpetual futures contracts.

  8. Stop loss: Automatically close or partially close a position when the price reaches a set price to limit potential losses.

  9. Take profit: Automatically close or partially close a position when the price reaches a preset profit target to secure expected profits.

  10. Collateral: The amount of funds users need to deposit as collateral when opening a position, which determines the position size.

  11. Liq. Price: The liquidation price, the price at which an order is forcibly settled in perpetual futures trading.

  12. Slippage Limit: The maximum acceptable difference between the actual execution price and the submitted price for users.

Trading Fees

  1. Trading Fee: The fee paid by the user for executing the trade, affected by the total position size.

  2. Borrow Fee: The fee paid for borrowing funds, calculated as an interest rate, affected by the total position size.

  3. Funding Fee: The fee set by the exchange to balance the positions of long and short traders. The fee rate is exchanged between traders, and the exchange does not collect this fee. When the fee rate is negative, users need to pay the fee, while a positive fee rate results in earnings.

  4. Price Impact: The fee charged when executing a trade order that may impact liquidity or market prices, typically incurred during large trades or in low-liquidity market conditions.

  5. Execution Fee: The fee paid by the user when submitting an order, typically calculated in ETH but displayed in USD for user convenience. This fee is a fixed value.

Earning-taking actions

Earn - Liquidity

Users can earn through providing liquidity by providing USDX tokens to the liquidity pool and receiving SLP tokens or by burning SLP tokens to receive USDX.

Operational Actions

  1. Buy SLP (Mint): Users can mint SLP by providing USDX tokens to the liquidity pool and earn liquidity rewards. The minting process occurs at the end of each Epoch, and the minting price is determined based on the SLP price at the end of the Epoch.

  2. Sell SLP (Burn): Users can burn SLP to receive USDX tokens. The burning process occurs at the end of each Epoch, and the burning price is determined based on the SLP price at the end of the Epoch.

Information Window

  1. Epoch: The current Epoch number, with each Epoch lasting 24 hours or as specified by SubstanceX (30 minutes during the testnet).

  2. Remaining Epoch: The remaining time in the current Epoch.

  3. Started in Epoch: The start time of the current Epoch.

  4. End in Epoch: The expected end time of the current Epoch.

  5. SLP Price: The price of SLP, which changes at each Epoch update.

  6. Pool Size: The total USDX value of all assets in the current liquidity pool.

  7. SLP Supply: The current total supply of SLP, which changes at each Epoch update.

  8. APR: The estimated annual percentage rate (APR) for SLP, excluding staking rewards.

Trading Window

  1. Fees: The fees required for selling SLP, collected when users sell SLP and withdraw assets as a fee for removing liquidity.

  2. Exchange Rate: The current exchange rate between SLP and USDX for the current Epoch. Note that the actual exchange rate is determined at the end of the Epoch.

  3. You Will Receive: The expected amount of SLP or USDX to be received when selling or buying SLP.

Status Window

  1. Bought: The amount of SLP that has been successfully purchased. Clicking "Claim" allows users to transfer these SLP to their exchange wallet.

  2. SLP to Be Bought: The amount of USDX users have submitted for purchasing SLP in the current Epoch. This purchase will be executed at the end of the Epoch.

  3. Sold: The amount of USDX that can be received by selling SLP. Clicking "Claim" allows users to transfer the USDX to their exchange wallet.

  4. SLP to Be Sold: The amount of SLP users have submitted for sale in the current Epoch. If liquidity is used, submitted sale requests will be partially executed, and the unsold portion will be returned in the form of SLP to the exchange wallet.

Liquidity Pool Composition

This section provides information about the tokens in the liquidity pool:

  1. Symbol: Displays the token's name and logo.

  2. Current Price: The current price of the token.

  3. Size in Pool: The USDX value of the token in the current liquidity pool.

  4. Current Weight: The current percentage weight of the token in the liquidity pool.

  5. Available: The USDX quantity available in the liquidity pool at the current moment for paying trader rewards.

  6. Usage: The usage percentage of the token in the pool.

Earn - Lock & Earn

Users can earn SEX rewards by locking SLP and SEX tokens in the Lock & Earn section.

Information Window

  1. My Locked SEX: The current amount of SEX tokens locked by the user.

  2. My Locked SLP: The current amount of SLP tokens locked by the user.

  3. Earned: The amount of SEX tokens earned by the user through the Staking behavior, which have been claimed and transferred to the exchange wallet.

Trading Window

  1. Lock Period: The duration for which the tokens will be locked, ranging from 30 to 720 days. Longer lock periods yield higher rewards.

  2. Estimated APR: The estimated annual percentage rate (APR) for the current lock duration.

  3. Reward Point: The reward coefficient for the current lock duration.

  4. Time of Unlock: The expected unlock date in the format of year, month, and day for the current lock duration.

Locked

  1. Amount: The quantity of tokens locked, including SLP or SEX.

  2. Lock Period: The duration for which the tokens are locked.

  3. Lock Start Time: The start date of this locking action.

  4. Lock End Time: The expected end date of this locking action.

  5. Time until Unlock: The remaining time until the tokens unlock. If the unlock date has been reached, it will display "Unlockable."

  6. Reward: The amount of SEX rewards generated by the current locking action. Note that these SEX rewards cannot be immediately withdrawn.

Unlocked

  1. Amount: The quantity of tokens locked, including SLP or SEX.

  2. Release Period: The duration over which your rewards will be released.

  3. Release Start Time: The start date of this reward release action.

  4. Release End Time: The expected end date when all rewards will be distributed.

  5. Reward: The amount of SEX rewards generated by the previous locking action.

  6. Claimed Reward: The quantity of rewards that you have already claimed.

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