Trading on Mu Exchange

3 min readNov 10, 2023

Ensure you have added a web3 wallet with Gnosis Chain network and some $xDAI for gas and $sDAI for trading purposes. If this is your first time, you can read the link here: Getting Started On Gnosis Chain and Mu Exchange.
Go to Mu.Exchange and access the app.
Click the wallet icon on the dashboard’s top right side and link your web3 wallet to the platform. Ensure that you have selected the correct blockchain network, Gnosis Chain.
Click the “Trade” tab and use the left sidebar to search and select the trading pair you intend to trade. Select the star icon to add the pair to your favorites list. The trading pair parameters are available in the pair list segment.
Select the appropriate trade parameters, including:
Trade direction: long (buy) or short (sell)
Order types: Market, limit, or stop limit
Collateral: the maximum amount you are willing to undertake in case of liquidation, hence the amount you need to put in for this trade
Leverage: multiplier settings
Slippage (for market order): maximum slippage you are willing to take for this trade
Optional stop-loss or take-profit orders
Place the trade by clicking the “Approve” button at the bottom and authorize the transactions on your web3 wallet. There might be multiple transactions to confirm, especially when this is your first trade (to authorize your $sDAI interaction with Mu smart contract). Do pay attention to the transaction details and approve them accordingly.

Managing Trades

To access your open position details on Mu and update TP/SL, follow these steps:

Once your trades are open, you can view the details of your current position under the “Open Orders” section in the dashboard. You can also access any pending limit or stop orders in the “Pending Orders” section.
Click on “Trade Details” below your open order in the sidebar to view and manage your stop loss/take profit.
Under the “Actions” section, you will see two buttons. Select the pencil icon on the right to edit your take profit or stop loss price levels.
You can update your take profit or stop loss price by manually inputting the targeted price level or adjusting the profit or loss percentage. Click “Confirm” to proceed with the changes and confirm them on your web3 wallet.
You will then receive a prompt to sign the transaction in your wallet before any updates can be made to your TP/SL levels.

To close a trade on Mu, follow these steps:

Locate the trade you want to close in the “open trades” section on the dashboard.
On the right-hand side of the trade, click the X button.
Confirm the transaction using your Metamask wallet and send the transaction.
Wait for the confirmation of the trade closure. You will receive this confirmation in your wallet.