Nuo Network, a non-custodial way to lend, borrow or margin trade cryptocurrency, today announced the release of its newly updated margin trading platform that better understands the needs of new traders and provides them the most useful information when operating the Nuo app.
On Nuo Network, users are able to trade with up to 3x leverage on their collateral. Nuo Network uses partner exchanges (Kyber Network and Uniswap Exchange) for placing trades.
The current tokens support include: DAI, ETH, MKR, WBTC, KNC, BAT, REP, ZRX, and USDC.
New Features
- Higher trade amount allowed per trade – Nuo has increased the maximum amount allowed per trade by ~1.5x for WBTC, USDC, DAI, and ETH.
- Entry price & auto liquidation price – a trader can set a stop loss between 40% and 80% of collateral. Along with protecting the collateral, the margin trader will now be able to view the liquidation price at the point of trade creation itself.
- Select your own profit token – a margin trader can now choose the currency in which he wants the profits to made in that trade-in. Please note if the user changes this from the token selected by default, it might encounter an additional slippage at the time of liquidation.
- In-depth analysis of the past performance of trades – users will now be able to view how their trades would have performed had they placed the trade at any time in the past 3 months. They can also experiment further by changing any of the parameters including stop loss, take profit or trade duration and check how their trade would have performed differently.
- Continuous visibility of liquidation prices for active trades – this liquidation price may change after a trade is placed in case the collateral currency is different from the market and position currency. This may occur due to fluctuation in the value of collateral currency with respect to market currency. The margin trade details page contains a real-time updated value of the on-going liquidation price so that one can compare it with the current price of the position currency.
- Clarity of profits/losses post-trade completion – once a trade is completed, the margin trader needs to know exactly what the profits or losses were. The margin trade details page now contains the exact gains made on the trade along with the price of the position currency at which it got liquidated and created. This page also shows exactly how much funds did the user exactly exit with.
- Other changes – The Nuo Network team has also made other broader changes which will help all users. They have now introduced the concept of market currency and position currency which most traders are already familiar with. Furthermore, it has now become much easier to navigate between margin trading, lending and borrowing by placing these in the header of the website. Also, the reserves details for lenders now will provide info of the initial amount that was invested as well as the current value of those funds.
In the near future, Nuo Network plans to increase the max trade amounts to a much higher amount and enable the ability to add/remove part of the collateral amount from the margin trade.