The BTC/wUSDM Perpetual futures and wUSDM/USDT spot market are now available on Helix! It not only allows USDM to be traded on Helix, but also marks the first time USDM can be used as margin for trading derivatives.
You can now trade them on Helix, the premier on-chain derivatives exchange built on Injective. Read more below to find out more about wUSDM, the benefits of trading wUSDM on Helix, and a step-by-step guide on how to trade on Heilx.
Get started here:
- BTC/wUSDM PERP: https://helixapp.com/futures/btc-wusdm-perp
- wUSDM/USDT: https://helixapp.com/spot/wusdm-usdt
Background
Today, Injective announces its integration with Mountain Protocol to bring the native availability of USDM, the first permissionless yield-bearing stablecoin, within the Injective ecosystem. Through this integration, users can participate in on-chain markets, such as BTC/wUSDM Perp and wUSDM/USDT spot market on Helix, the world’s premier decentralized exchange.
What Is Mountain Protocol and USDM?
Mountain Protocol is the issuer of USDM, the first permissionless yield-bearing stablecoin. Backed by Multicoin Capital, Coinbase Ventures, and Castle Island Ventures, Mountain Protocol launched in 2023 with the vision that stablecoin holders are the natural owners of the “risk free rate” through a secure, regulated, enterprise-grade product.
USDM is a stablecoin backed by treasury bills, providing a secure foundation. Unlike other stablecoins, USDM allows users to earn and retain daily interest on their holdings. Currently with USDM, users are able to receive a 5% interest on their principal. Users who hold USDM in their wallets will automatically receive their interest in their wallet through a process called rebasing.
Why Trade wUSDM on Helix?
With a diverse array of upgrades, Helix 2.0 marks a significant milestone in the evolution of the protocol, introducing a host of cutting-edge features designed to enhance user experience and broaden trading capabilities. Helix provides completely unmatched exchange, trading bots, advanced order types, an intuitive Swap interface, individual profit and loss overview, and reward tracking to Injective users. Anyone can use Helix as a crypto cross-chain trading gateway with zero gas fees, best-in-class security, and lightning-fast speeds.
Helix is the first platform that allows USDM to be traded and used as margin for trading derivatives within the Cosmos ecosystem alongside new ways to earn with every trade.
Market Details
BTC/wUSDM PERP Market Details
- Underlying market: BTC
- Quote asset: wUSDM
- Minimum price tick size: $1 wUSDM
- Minimum quantity step: 0.0001
- Expire: Perpetual (no expiration)
- Maximum leverage: 5X
- Initial margin ratio: 19.5%
- Maintenance margin ratio: 9.5%
- Fee: -0.01% maker fee; 0.1% taker fee
- Trading hours: 24/7/365
wUSDM/USDT Market Details
- Underlying market: wUSDM
- Quote asset: USDT
- Minimum price tick size: $0.0001 USDT
- Minimum quantity step: 0.1
- Fee: -0.01% maker fee; 0.1% taker fee
- Trading hours: 24/7/365
How to Trade wUSDM/USDT Spot and BTC/wUSDM Perp on Helix?
In order to trade wUSDM/USDT spot and BTC/wUSDM perp market on Helix, you will need to have wUSDM and/or USDT in your Injective Wallet. The first step is to deposit assets to Injective.
Option 1: Bridge USDT from Ethereum to Injective
- Go to Injective Bridge and connect your wallet;
- Select “Ethereum” from the dropdown menu as the origin source;
- Select “USDT” as the asset to transfer and make sure it has USDT balance;
- Enter the amount of USDT tokens you would like to transfer and click “Review Deposit” and “Confirm”;
- Once the transfer is completed, you can check the USDT balance in your Injective Wallet or Account page on Helix.
Option 2: Bridge wUSDM from Ethereum to Injective
USDM will be bridged into the Injective ecosystem as wUSDM.
- Go to Injective Bridge and connect your wallet;
- Select “Ethereum” from the dropdown menu as the origin source;
- Select “wUSDM” as the asset to transfer and make sure it has wUSDM balance;
- Enter the amount of wUSDM tokens you would like to transfer and click “Review Deposit” and “Confirm”;
- Once the transfer is completed, you can check the USDT balance in your Injective Wallet or Account page on Helix.
Option 3: Onboard with Fiat
- You can also onboard onto Helix using popular fiat currencies by selecting from one of the fiat on-ramp providers such as Kado, Transak or Payfura.
- Choose your payment currency (e.g. USD) and enter the amount in fiat you would like to swap;
- Select Injective as the network to receive your payment amount;
- Follow the instructions and continue the steps;
- Once the transaction is completed, you will see the USDT or INJ balance on Injective Wallet or Account page under Helix;
- Swap INJ to USDT by using the Swap feature if needed, and then you are all set to trade!
Trade wUSDM/USDT on Helix
- Go to the wUSDM/USDT market on Helix;
- Choose the side you want to trade on, either Buy (Long) or Sell (Short);
- Then choose the type of order you want to trade, from Market, Limit, or more advanced types;
- Enter the amount you want to trade;
- Submit your order and approve it with your wallet;
- Once the order is approved successfully, you will see a notification “Your order has been placed.”
- Note: you can sell USDT to get wUSDM through this market and utilize the wUSDM to trade the BTC/wUSDM PERP.
Trade BTC/wUSDM PERP on Helix
- Go to the BTC/wUSDM PERP market on Helix;
- Choose the side you want to trade on, either Buy (Long) or Sell (Short);
- Then choose the type of order you want to trade, from Market, Limit, or more advanced types;
- Enter the amount you want to trade and select your desired leverage;
- Submit your order and approve it with your wallet;
- Once the order is approved successfully, you will see a notification “Your order has been placed.”
Upcoming Listings
Moving forward, Helix will continue to expand the markets available for users. All community members can propose to bring new assets to Helix using the governance portal on the Injective Hub. Ultimately, all INJ token holders own Injective so the community has the power to bring new assets to the dApp ecosystem.
Stay updated on all new listings by joining Helix on Twitter and Telegram!
Useful Resources
- How to create your Injective wallet: Link
- Onboard onto Injective instantly with fiat: Link
- Transfer assets to Injective via Injective Bridge: Link
- A quick guide on how to make a trade on Helix: Link
- Earn trading fee discounts by staking INJ: Link
This article is for informational purposes only and is not financial advice or an endorsement of a particular project or application. Use of Helix is subject to Helix’s Terms and Conditions.
About Helix
Helix is the premier decentralized crypto exchange. Helix provides access to unlimited crypto assets and perpetual markets with market leading rebates. Best-in-class security, near zero fees, lightning fast speeds, cross-chain capabilities and a fully on-chain orderbook on Helix provide the optimal gateway to bring crypto trading to the masses. Helix is built on Injective, the interoperable layer one blockchain for building powerful exchange, DeFi, derivatives & Web3 applications.
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About Injective
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native token that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
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