FAQ

Why does ETH² cost about the same as ETH? Because it's listed at the coin's price: mark = (S ÷ ref)² × ref, so on listing day they're equal. From there ETH² moves twice as far in percent terms (and drifts down slowly by the funding rate). Use the ETH² vs ETH chart view to see both on one axis.

Is 3x on ETH² like 3x on ETH? No. For small moves ETH² moves twice as much as ETH, so 3x on ETH² behaves like about 6x on ETH, and the liquidation price is closer than you'd guess. The ticket shows the max move to liquidation; read it.

What's a knock-out? A position above the standard max leverage. It has a fixed exit price set when you open and can never lose more than its collateral. See Leverage.

Isolated or cross margin? Isolated. Each position has its own collateral and its own liquidation or knock-out price. Use "+ Margin" to top one up.

Can I set a maximum leverage so I don't fat-finger 50x? Leverage is the slider on the ticket, saved per market. To make 50x impossible by accident, set a lower max leverage from the ✎ next to it: the slider then stops there.

Who is on the other side? The pool. It hedges on Derive. See Pool and Safety.

Is this real money? Not yet. The app is in paper mode with test dollars on live prices. Testnet and mainnet will be announced separately.

Can I trade on my phone? Yes. Phone browsers don't have a wallet built in, so tap Connect wallet and pick your wallet app (MetaMask, Coinbase Wallet, Trust Wallet or Phantom): it opens Stratos in its own browser, where Connect wallet works. To use your computer's test wallet on your phone, click your address on the computer, then scan the QR code under Use this test wallet on your phone with your phone's camera. Test wallets only; a real wallet stays in your wallet app.