DeOrderBook Open Beta Starter Pack

101: Getting Started

Thank you for your interest in joining the DeOrderBook Open Beta which can be found live on:

• app.deorderbook.com

To understand more about our product before you begin, please feel free to take a look at:

• DeOrderBook Litepaper
• Product Introduction Video

TO JOIN THE OPEN BETA, please:

• ✨ Fill in the Open Beta registration form ✨
• 💛 Join our Discord 💛

Please reach out to the team directly on Discord if you encounter any difficulties!

Why Join DeOrderBook’s Open Beta?

DeOrderBook is a one-of-a kind optionality protocols that allows users to trade options and earn yield in a fully secure environment free from oracles.

Oracles represent a fundamental risk to most protocols as they can easily be hacked, manipulating users funds and disclosing data that could be used to rip users off. On DeOrderBook, the protocol provides gamified optionality in an oracle-free environment that ensures users can always keep earning yield on their investments without worrying about getting rekt.

DeOrderBook is soft launching with a full Open Beta hosted on the Goerli testnet. Beta participants will be rewarded with perks at launch.

User Experience Interviews

Upon joining the Open Beta, participants will be entered into a random draw for participating in user experience interviews with the team.

Participants selected for this short user interview will be contacted directly on the Discord server to arrange a suitable time to reach out. Please be assured any and all information collected remains fully confidential.

Checklist for What You Need to start Beta Testing

• Have a Metamask wallet
• Have a Discord account
• Signed up on entry form before deadline
• Joined Discord server
• Checked wallet to ensure that test tokens are received

Before You Participate

IMPORTANT
Please ensure that you have set up the Goerli testnet in your Metamask wallet by following the below instructions.

1. Go to the settings tab on your Metamask wallet and choose Networks. Then press the blue ‘Add a Network’ button.
   

2. Once you press ‘Add a Network’ you will be taken to another screen. Select ‘Add a network manually’.
   

3. If you don’t see the Goerli test network, you can search for it at the top right section. You will need to use $GoerliETH on this network, which will allow you to simulate $ETH transactions on the DeOrderBook testnet.
   

4. Once you have successfully added the Goerli network to your wallet, please claim some test ETH at https://goerlifaucet.com/. These will be required for transaction approvals and gas fees.

Once you’ve successfully signed up for the beta and joined the Discord, you will receive 1 $WBTC and 20k USDC test tokens in your Metamask wallet. We will announce in Discord as distributions happen. Please join the Discord or you will miss the announcement!

Understanding DeOrderBook: A Brief Summary

This is a brief introduction of the essential features of the DeOrderBook core app.

If it looks a little intimidating, don't worry: our docs provide a step-by-step deep dive into exactly what every feature is about and which tokens interact with them.

• HODL: Using the supported cryptocurrency test tokens supplied by the team, users must first mint these tokens into their HODL token equivalents. HODL tokens can be used as collateral for backing the protocol’s version of limit orders, known as DeOrders.

  • $WBTC mints bHODL tokens, while $USDC mints uHODL tokens
  • Minting is free with no attached fees, but users should have enough GoerliETH in their wallet to process the minting transaction

• DeOrder: Once a user has minted HODL tokens, they can place a DeOrder. Placing a DeOrder requires the user to:

  • select an amount of collateral they’d like to buy/sell with
  • select a strike price for their DeOrder
  • select an expiry date for the DeOrder

The DeOrder generates SNIPER and BULLET tokens encoded with the user’s chosen limit order parameters. SNIPER tokens represent the option holders; while BULLET tokens represent the option exercise rights.

Once a DeOrder is placed, the user starts earning $DOB rewards at a continuous rate all the way until the order expiry date.

• Lock: $DOB rewards earned by placing DeOrders can be locked back onto the protocol for additional rewards in the form of:
  • 50% of the protocol’s collected fees, distributed in line with the user’s relative proportion of total $DOB locked on the platform
  • BULLET token rewards, which can be sold for additional profit at the BULLET Bazaar

Consult the DeOrderBook docs for more detailed information, or connect with the team on our Discord directly!