This document applies to the current testnet version of Perpetual Protocol. Our current state of rapid development means details may be inaccurate or out of date. We recommend using the desktop Firefox or Chrome version of the Metamask wallet for easy interaction with the Perpetual Protocol interface. You can also connect with any WalletConnect compatible wallet. Install Metamask here: Metamask should be used with a hardware wallet — failure to use a hardware wallet with Metamask leaves your funds open to attack. Switch Metamask to the Rinkeby testnet: Switch MetaMask to the Rinkeby testnet Currently our testnet trading competition is ongoing until Nov 5 14:00 UTC . During this period, go to faucet.perp.exchange to receive testnet funds for trading. Transfer funds to Layer 2 Funds must be transferred to the xDai layer 2 network to take advantage of our scaling features — funds remain 100% controlled by your private keys at all times. Transferring funds is a quick 3 step process: Click Deposit Enter the amount you want to transfer Approve the transaction and deposit Approve the use of funds for trading on layer 2 Sign the transaction in Metamask -- Done! Metamask will show a warning that you are signing a message that is not 'human readable'. Perpetual Protocol has been audited by independent audit firms Consensys and PeckShield (incremental audits). Choose the trading pair you'd like to trade. Testnet supports ETH <-> USDT and BTC <-> USDT Open a position. Choose Buy to open a long position, and Sell to open a short: Choose BUY for longs and SELL for shorts Enter the size of the position and choose the amount of leverage you want to use. The collateral needed will be calculated for you: Choose position size and leverage multiplier Review the transaction and click Buy or Sell. Congrats! You've opened your first position on the Perpetual Protocol xDAI testnet!