General
Why is the ETH price on Wasabi different from the “real” ETH price?
Liquidity pool depth may vary across chains causing slight variations in the price of an asset. Additionally, USDB can fluctuate because it isn't as liquid as other stables like USDC or USDT.
Why is my actual entry price different from what I saw before opening my position?
There are fees & slippage involved - This can vary across pairs, for example the Wasabi fee on ETH trading is 0.1% while more exotic pairs are 0.5%. The slippage varies based on liquidity in the pool.
I’m trying to open/close a position but am getting failed transactions, what should I do?
Please try refreshing your browser and adjusting slippage settings. Additionally, try not to take long from initiating a transaction to confirming it, to avoid market movements in between. If the issue persists, please open a ticket in Discord and our team will assist you.
What does the Wasabi Pass do now, are there future utilities?
Each owned Wasabi Pass reduces trading fees (options trading only) & boosts Trading Points by 10% up to a total of an additional 100%, maxing out at 10 passes. Additional utility will be unlocked in the near future.
What’s the process for adding other tokens or NFTs to Wasabi?
There are various parameters we look at when deciding to list a project, these include market cap, holder distribution, volatility and more.
How do Wasabi vaults work?
Wasabi vaults provide liquidatable loans to traders that want leverage. The LPs earn yield denominated in the asset that they lent out. Wasabi’s ETH pool supplies the long positions whereas the other token pools supply the short positions. As the utilization rate of a given vault increases its respective APR will also increase and vice versa.
What are the risks associated with using vaults?
The risks of LPing on Wasabi is that we are unable to liquidate a position in a timely manner. This will lead to interest and/or principal payments being effected. We reduce the risk of bad debt through liquidatable loans and deep settlement liquidity.
What happens when I withdraw funds from the vault?
There are no penalties for withdrawing funds from Wasabi. However, pending interest will be forfeited if funds are removed prior to the interest payment being completed.
When can I withdraw my digital assets from vaults?
There is no lock-up period for our vaults, you are free to deposit and withdraw at any time.
What happens when I go LONG?
When you open a long position, margin is borrowed from the ETH vault, combined with your down payment and is used to purchase the underlying token. The underlying tokens are then held as collateral for your position.
What happens when I go SHORT?
When you open a short position, margin is borrowed from the respective token vault, combined with your down payment and sold to the market for ETH. The ETH received is held as collateral for your position.
Is there a funding rate?
No there is not, there are only borrow rates - The borrow rate is the interest you pay for the margin, your liquidation price will very slowly go up with time as you pay interest.
Why the difference between index price and entry price upon opening?
When you open the position it will take into account slippage, the DEX pool and protocol fee, resulting in a slightly different initial entry price.
Why is the NFT price chart on Wasabi different from OS or Blur?
The price that is displayed comes from DEX pools. If the pair you are trading is a fractional NFT pair, the token price may deviate from the NFT spot price on marketplaces until the market corrects itself. The price will often be closest to the highest bids on the marketplaces.
What are Wasabi vaults and how is APR calculated on them?
Wasabi’s vaults function as Margin Lending pools where users can earn native yield. The APR will fluctuate based on utilization rates. As the utilization rate increases for either longs/shorts the APR will increase. Wasabi’s ETH pools supply the long/buy side where the token pools supply our short/sell side.
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