Go to rinkeby.perp.exchange and connect your wallet in the upper right corner of the screen. Note only Metamask is supported at this time. Hardware wallets are currently not supported due to lack of support for the metatransactions.
Request USDT using the built in faucet on the left side of the screen.
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 via the following steps.
Enter the amount you want to transfer
⚠️ You must deposit <500 USDT each time otherwise the transaction will fail due to the gas-free deposit feature not being active in testnet
Approve the deposit of funds from Ethereum to xDai
Approve the use of funds for trading on xDai
Sign the transaction in Metamask -- Done!
Metamask will show a warning that you are signing a message that is not 'human readable'. This is necessary to move funds to the xDai network. Perpetual Protocol has been audited by independent audit firms Consensys and PeckShield (incremental audits) and is secure.
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
[Optional] Set the slippage tolerance. On testnet this is very unlikely to affect anything, but on mainnet if trading activity is high, slippage may be a factor you wish to consider.
Review the transaction and click Buy or Sell.
Congrats! You've opened your first position on the Perpetual Protocol xDAI testnet!