diff --git a/README.md b/README.md index 48be295..55b7869 100644 --- a/README.md +++ b/README.md @@ -7,7 +7,7 @@ Uniwhale is an oracle-based decentralized on-chain perpetual trading exchange where * You can trade, with up to 200x leverage, BTC, ETH, and many mainstream crypto assets, directly from your wallet. -* You can provide liquidity with stablecoins like USDC, USDT, DAI, and more, to earn real yield from market-making and leverage trading. +* You can provide liquidity with stablecoins like BUSD, USDC, USDT, and more, to earn real yield from market-making and leverage trading. Based on objective price oracles and single-sided liquidity, Uniwhale aims to deliver the best trading experience for traders with zero credit risk and minimize impermanent loss for liquidity providers. diff --git a/execution.md b/execution.md index 005eb6c..ea37204 100644 --- a/execution.md +++ b/execution.md @@ -14,11 +14,11 @@ We do not custody your assets. Your assets stay with you and the margins posted ## Margining -All positions are margined in USDC. Both isolated and portfolio margining will be supported. +All positions are margined in BUSD. Both isolated and portfolio margining will be supported. You can add margins to outstanding positions, but cannot partially withdraw posted margins. When margins are added to an outstanding position, the relevant liquidation price is adjusted. -Multiple stablecoins are accepted as eligible margins. These will be swapped automatically to USDC. +Multiple stablecoins are accepted as eligible margins. These will be swapped automatically to BUSD. ## Order type supported @@ -68,7 +68,7 @@ Opening a position will transfer the required margin to a dedicated on-chain con The initial margin is calculated based on the matched prices ("Mark Price"). -You can post margin in many stablecoins, which will then be automatically swapped into USDC using a third-party DEX (e.g. Uniswap), with the maximum amount of the stablecoin to meet the USDC margin requirement specified by you. +You can post margin in many stablecoins, which will then be automatically swapped into BUSD using a third-party DEX (e.g. Uniswap), with the maximum amount of the stablecoin to meet the BUSD margin requirement specified by you. ### Slippage setting @@ -80,7 +80,7 @@ To mitigate this risk, you can specify Slippage when opening a position, so that Closing a position will calculate the PnL based on the best price offered by the Liquidity Pool and transfer it to the trader, together with the margin posted. -You may request the PnL to be transferred in a stablecoin other than USDC, in which case the PnL (together with the margin) will be swapped into the requested stablecoin using a third-party DEX (e.g. Uniswap), with the minimum amount of the stablecoin specified by you, and transferred to you. +You may request the PnL to be transferred in a stablecoin other than BUSD, in which case the PnL (together with the margin) will be swapped into the requested stablecoin using a third-party DEX (e.g. Uniswap), with the minimum amount of the stablecoin specified by you, and transferred to you. You can not lose more than the margin posted. diff --git a/liquidity-pool.md b/liquidity-pool.md index 4e27a50..f037e65 100644 --- a/liquidity-pool.md +++ b/liquidity-pool.md @@ -11,7 +11,7 @@ Liquidity Pool democratizes orderbook liquidity by pooling liquidity providers i Based on the pooled liquidity, Liquidity Pool acts as the central counterparty and clearinghouse to all positions. -You can provide liquidity with a number of stablecoins (USDC, USDT, DAI, etc). +You can provide liquidity with a number of stablecoins (BUSD, USDC, USDT). Oracle-based price execution means zero slippage. @@ -35,14 +35,14 @@ Since the counterparty of all trades is the Liquidity Pool, this is a zero-sum g ### Adding liquidity -You can provide liquidity to Uniwhale Exchange either with USDC or with other stablecoins. If other stablecoins are provided, they are swapped into USDC using a third-party DEX (e.g. Uniswap), with the minimum amount of USDC (i.e. maximum slippage) specified by you. +You can provide liquidity to Uniwhale Exchange either with BUSD or with other stablecoins. If other stablecoins are provided, they are swapped into BUSD using a third-party DEX (e.g. Uniswap), with the minimum amount of BUSD (i.e. maximum slippage) specified by you. -The number of Liquidity Pool tokens minted in return is proportional to the amount of USDC you provide relative to the USDC balance Liquidity Pool holds. +The number of Liquidity Pool tokens minted in return is proportional to the amount of BUSD you provide relative to the BUSD balance Liquidity Pool holds. ### Removing liquidity -You can remove liquidity from Uniwhale Exchange any time either in USDC or in other stablecoins. If in other stablecoins, the relevant USDC is swapped into the stablecoin using a third-party DEX (e.g. Uniswap), with the mininum amount of the stablecoin (i.e. maximum slippage) specified by you. +You can remove liquidity from Uniwhale Exchange any time either in BUSD or in other stablecoins. If in other stablecoins, the relevant BUSD is swapped into the stablecoin using a third-party DEX (e.g. Uniswap), with the mininum amount of the stablecoin (i.e. maximum slippage) specified by you. Because Liquidity Pool balance must be sufficiently collateralized to meet all its obligations (see [Risk management](execution.md#risk-management)), the maximum liquidity you can remove at any time is restricted to the excess balance available (i.e. the difference between the Liqudity Pool balance and the collateral requirement). -The amount of USDC or the stablecoin received in return is proportional to the amount of the Liquidity Pool tokens burnt relative to the outstanding supply of the token. +The amount of BUSD or the stablecoin received in return is proportional to the amount of the Liquidity Pool tokens burnt relative to the outstanding supply of the token.