Getting started
Setting Up Your Web3 Wallet
To begin trading on unRoll, you’ll first need a Web3 wallet. The protocol supports popular wallets like MetaMask and WalletConnect, ensuring a smooth connection to the Base network.
Here’s how to set up MetaMask and connect it to unRoll:
Install MetaMask:
Visit MetaMask’s official website and download the extension for your browser.
Follow the on-screen instructions to create a new wallet, and make sure to securely store your seed phrase.
Add Base Network to MetaMask:
Click on the MetaMask extension icon in your browser.
Open the network selection dropdown and select “Add Network.”
Enter the following Base network details:
Network Name: Base
New RPC URL: https://mainnet.base.org
Chain ID: 8453
Currency Symbol: ETH
Block Explorer URL: https://base.blockscout.com/
Save the network and ensure that you are connected to Base.
Connect MetaMask to unRoll:
Navigate to the unRoll dApp.
Click on “Connect Wallet” and select MetaMask.
Follow the prompts to authorize the connection.
You're ready to roll!
Acquiring Tokens
To trade on unRoll, you’ll need to acquire both $ROLL and $unROLL tokens. Here’s how:
Fund Your Wallet:
Make sure your wallet is funded with ETH on the Base network to cover transaction fees and token purchases.
Get $ROLL or $unROLL:
Access Uniswap on BASE.
Swap ETH or other supported assets for $ROLL and $unROLL using the DEX.
There's a list of base tokens you can use, so you might want to check the prices on the unRoll dapp before buying.
Once you have $ROLL and $unROLL in your wallet, you are ready to start trading on unRoll.
Trading on the unRoll Protocol
Trading Interface The unRoll trading interface is designed to be intuitive and user-friendly. Here’s what you’ll find:
Token Pair Overview: Displays real-time prices for $ROLL and $unROLL agains a base token.
Roll/unRoll page: Allows you to input trade details, including the number of tokens you want to trade. You can roll or unRoll your tokens.
Price Chart: A dynamic chart that shows price movements for both tokens, helping you track volatility.
Transaction History: View your past trades and their outcomes.
Example Trade
The price of $ROLL has decreased due to market stability, while $unROLL has increased due to a spike in volatility. The base token is ETH. You buy $ROLL for ETH at a low price, then unRoll (turn your ROLL into unROLL) and sell $unROLL at a high price, capitalizing on the spread.
Liquidity Provision
unRoll allows users to provide liquidity to the protocol, enabling smoother trading while earning rewards. By adding liquidity, you can earn a portion of the trading fees generated by users on the platform.
How to Provide Liquidity:
Access the Liquidity Pool: On the unRoll interface, navigate to the liquidity section.
Choose a Token Pair: Select the $ROLL/$ETH or $unROLL/$ETH pair and decide how much liquidity you want to provide.
Add Liquidity: Enter the amount of $ROLL and $unROLL you want to add. Click “Provide Liquidity” and confirm the transaction in your MetaMask wallet.
Earn Rewards: You will earn a percentage of the trading fees generated from the liquidity pool based on your contribution.
Rewards: Liquidity providers earn rewards in the form of fees paid by traders who swap $ROLL and $unROLL. Risks: There’s always a risk of impermanent loss when providing liquidity, where changes in token prices affect the value of your provided liquidity.
Risk Management
Trading volatility can be profitable, but it also involves risks. Here are some strategies to help manage those risks:
Diversify Your Portfolio: Don’t put all your assets into one token pair. Spread your investments across multiple assets to reduce exposure to sudden price swings.
Use Stop-Loss Orders: Although unRoll is a decentralized protocol, you can manually monitor prices and decide when to exit a position to limit potential losses.
Monitor Market Trends: Keep an eye on external market conditions that could affect the price movements of $ROLL and $unROLL, such as major announcements or macroeconomic shifts.
Start Small: If you are new to volatility trading, start with smaller trades to familiarize yourself with the protocol before committing larger amounts of capital.
By understanding how to trade on unRoll, provide liquidity, and manage risks, you can take full advantage of the protocol’s unique offering and navigate the DeFi space with confidence.
Last updated