It’s Time for AlphaX
Welcome to the future of derivatives trading, AlphaX. If you have already tried AlphaX on the testnet, read this blog for the improvements we made. However, if you are new to AlphaX or want to learn more about it, continue reading because we have a humble introduction for you that will give you a pleasant experience when using AlphaX for the first time.
Introduction
AlphaX is now live on the Avalanche network so in order to use it you have to first connect your crypto wallet (Metamask, Wallet Connect, and Wallet Link) and bridge your assets to the Avalanche network. Follow the instructions down below to begin.
Adding Avalanche Network
1. Connect Metamask or preferred wallet with AlphaX
2. Click the Network drop-down
3. Click Add Network
4. Fill in the details below
Network Name: Avalanche Mainnet (C-Chain)
New RPC URL: https://api.avax.network/ext/bc/C/rpc
ChainID: 43114
Symbol: AVAX
Explorer: https://snowtrace.io
Bridging Assets to Avalanche Network
There are several ways to transfer your assets from different networks to Avalanche: Bridging from Ethereum to Avalanche Network orWithdrawing from Centralized Exchange to Avalanche Network.
Using Avalanche Bridge (from Ethereum to Avalanche)
1. Go to https://bridge.avax.network/
2. Connect with Metamask wallet
3. Choose your asset and amount
4. Click Transfer
5. Check and confirm the transaction popup from Metamask
Withdrawing assets from centralized exchanges (e.g., Binance, KuCoin, and Coinbase)
For Binance:
1. Go to Wallet
2. Select AVAX and Withdraw
3. Input wallet address
4. Choose AVAX C-Chain network
5. Click Withdraw (or submit request for other exchanges)
Utilizing Gitbook
Along with the revamp of the DApp, the Alpha Team also refurbished the Documentation to make it easier for readers to navigate between each section they want to learn about the AlphaX. The sections on the new AlphaX’s Documentation are ordered by: Introduction, Getting Started, Guides, Suggested Strategies, Testnet, FAQ, and For Developers.
- Introduction: Users can find fundamental information about the AlphaX and various hyperlinks that direct them to important sections that provide a more complete understanding of AlphaX usage, such as Overall View of the DApp, Understanding Strike Token, and FAQ, etc.
- Getting Started: This section contains all insights users may want to learn before using the AlphaX.
- Guides: After completing all the lessons in the Getting Started section, users may want to head over to the Guides session where we teach you different things you can do on AlphaX.
- Suggested Strategies: In this section we show different ways users can make profit through Trading, Arbritarging, and Hedging.
- Testnet: Users can try out the testnet and make paper trades to see how AlphaX works.
- FAQ: We combine all the questions and vocabulary our community may wonder about the AlphaX and place in it this section. So browse around and perhaps some answers may justify your curiosity. Nonetheless, join our Official Telegram group to ask your questions if it is not answered in this section. Be sure to let our moderators know that this question should be placed in our Documentation.
- For Developers: This section was built by our builders for builders in the Alpha Wolves community. Find all contract addresses and other resources here.
Assets on AlphaX
On December 8th, 2021, AlphaX went live with 2 assets, AVAX and WETH.e. With these assets you are provided with various Strike Token choices of price floor and price ceiling. Through holding these Strike Tokens, users can produce profit by trading and holding (Opening LONG or SHORT positions), providing Strike Token to LP pools to earn additional APY (recommend to hedge or manage position to avoid liquidation), and arbitrage Strike Token against the market and oracle price though minting and redeeming.
Nonetheless, we will not stop for only 2 assets. We will continue to import more assets to AlphaX by listening to your demands. So tell us which assets you want us to list on AlphaX?
Looking Forward
Strike Tokens on AlphaX are fundamental building blocks for other protocols to build on. The usability of Strike Tokens is limitless and only bound by the imagination of builders. Alpha Team will continue to innovate and find new usability for Strike Tokens.
But if you identify yourself as builders, why not try building something on top of AlphaX and receive $30,000 USD? Join us on our “Build the Future with Alpha Finance Lab” hackathon event with Moralis and Avalanche. Read about this event here.
Finally, we have prepared a Twitter Spaces session, tomorrow, December 9th, at 14:00 UTC, to talk more about AlphaX and the Hackathon event. Set a reminder here to learn more about these topics, see you soon!
About Alpha Finance Lab
Alpha Finance Lab is a DeFi Lab, and on a mission to build