Our alpha platform is now live, visit: alpha-bridgefinance.net
The interface is designed to be simplistic and intuitive. For those who need s better understanding of how it works here’s a quick guide.
- Make sure you have Metamask installed on your browser. And of-course Microsoft Edge wont work.
- This is a desktop only platform, we don't recommending using it on mobile devices for the best appearance.
For now any person can create a Equity Swap Contract for a stock of choice. In future only clients coming through a broker can do this.
To create a Equity Swap Contract:
- Step 0. You have to be logged in. Account creation and logging in is vital as we incorporate a social-finance approach to have traders interact, enter contracts together, track contracts. Our staking approach is also centered on identifying your stakes by account rather than wallets, this allows you to use multiple wallets to stake to the same smart contract and unstake, whilst also allowing you to enter Equity Swap Contracts based on you total free stake balance across all wallets addresses used.
- Step 1. Make sure your Metamask wallet is unlocked. If not it will popup a prompt to unlock your Metamask. This is because a default wallet address is required in order to save the contract as it will be used as Makers settlement wallet address.
- Step 2. Stake collateral equivalent to the notional or value of stock holdings.
- Step 3. Only enter the stock ticker, whatever stock in existence publicly traded can be added.
- Step 4. Floating leg is only the market market interest rate applied to the notional, which is usually 3–4% in developed countries. This is the only cost required from your taker to enter the contract with you.
- Step 5. Create. If not enough funds are staked or if the portion of your staked funds that is free is not enough to cover the collateral of the contract you are creating you will have to stake more funds first through the Staking page.
You need to wait for 24 block confirmations before a Stake is settled in the system don't refresh the page or leave before that.
Once the contract is created you can view it on the timeline along other Swap Contracts created by other users. This is your default landing page.
To delete a Swap Contract you click “view” on the swap card and it takes you to the Track page, where you will see the delete button if you are the Maker in that contract and have a matching wallet address. You can only delete before a Taker enters the contract. Upon deleting it the staked funds that were locked into that contract are freed and you will notice your “stake balance available for contracts” increase/restore.
For Takers / crypto traders looking for stock equity swap contracts:
- You can filter equity swaps available on on your timeline using price or ticker symbol.
- To be a taker in a equity swap contract you have to stake collateral equivalent to: notional amount + floating leg payment. The platform calculates this for you. Pay floating leg upfront as part of collateral.
- If your current stake balance available to enter into swaps is insufficient compared to the required amount, you are prompted to redirect to staking page. There you have the option to stake from your account balance or from your metamask wallet. Feel free to try both as funds are only moved between your wallets for now. 24 block confirmations are also required for a successful stake.
- After entering a swap contract, you can track contract and see how the deal is performing based on stock fluctuations for that day. A swap contract can be bookmarked for easy access direct from the home page timeline.
- During weekends the stock market closes so gains do not change. You can however enter contracts even on weekends
- If contract matures on weekend it will take the last closing price on the Friday before. Maturity is automatic and you will be notified via the email address you entered upon signing up.
- Any party can trigger settlement after maturity, the Switch Protocol API receives this trigger call and calculates balances due to each party and retrieves the wallet addresses then makes a call to the smart contract. Currently the call to the smart contract is disabled as there are no native tokens in existence yet to be used as the medium of exchange. This will be enabled in the Beta version. For now it updates your platform account balances only. Each user is getting 1000 virtual tokens on sign up for testing purposes.
Lets talk about Staking.
- You can stake tokens at 150% APR, a rate that only exists for the Alpha version and does not represent the final official rate for the Beta version with real native tokens.
- You can unstake tokens at any time you wish, however this is where the “Frac portion” comes into play: frac portion tracks how much of your stakes funds have been locked up in a listed or active swap contract, as a decimal with a total of 1. If 25% of your staked funds have been locked up by swap contracts you have created/entered, then your Frac portion displays as 0.75 which then multiplies by your total currently staked funds to come up with how much of it is free to enter into other swap contracts or to be unstaked as of that moment. You can only unstake free funds not locked in swaps.
- All staked funds gain the APR whether they are locked in a swap contract or not.
Finally there is our Thotbox feature which aims to encourage traders to share ideas or validate their thoughts. Currently you are only able to share thots with images or to embed links. In the future it will allow traders to even write analysis blogs/articles.
Whats not there yet:
- Smart contract is not live yet as it requires native tokens.
- Liquidity mining
- Multi asset collateral lending
- Brokers profiles
- Stock full primer — a one stop page for any information relating to a particular stock
- Leader-board and article creation.
That’s pretty much it :) Happy testing and feel free to provide us with feedback in the telegram group, both positive and negative all are welcome.