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How to Use USDh to Long BTC on the Velar PerpDEX

The first Bitcoin PerpDEX is here from Velar!
In this guide, we’ll walk you through the step-by-step process of opening a long position with USDh on Velar’s PerpDEX.
It’s straightforward:
🔸 Fund your wallet with USDh
🔸 Confirm your position’s size, & leverage
🔸 Monitor your position’s health
Let’s dive in:
Step 1: Fund Your Wallet with USDh
The first step is to fund your wallet with USDh. Always ensure you have enough USDh to use as sufficient collateral for your position.
To get started, visit Bitflow to trade any SIP-010 token for USDh. For a full guide, read our ‘How to Buy USDh’ article.
Step 2: Trade the sBTC/USDh Pair
You’re now ready to long the sBTC/USDh pair. Here’s how to get started:
Visit the Velar PerpDEX
Connect your Stacks wallet using the button in the top-right corner
Make sure you’re on the sBTC/USDh trading pair
Click “Long” using the selector at the top of the trade menu
Choose your position size and leverage according to your personal risk level
Click “Long” to confirm your trade
If you’re long, you’ll need USDh as collateral for your position. To short, you’ll need sBTC as collateral.
Step 3: Remember the Perpetual Trading Best Practices
Before you dive into leveraged trading, here are a few best practices to keep in mind:
Leverage amplifies gains and losses; always start conservatively
Attentively manage your risk; be aware of your position’s liquidation threshold
Ensure you have enough USDh collateral to support your trades and avoid liquidations
Leverage trading requires ongoing attention. Check your positions often so they always align with your strategy
Use leverage according to your risk tolerance; higher leverage comes with higher risks
About Hermetica
Hermetica is the creator of USDh, the first Bitcoin-backed, yield-bearing synthetic dollar on Bitcoin L1 and L2s. Earn up to 25% on your dollars without leaving Bitcoin. Hermetica is a crypto veteran team with previous experience at Kraken.