🔱Wumbo

Wumbo is a 1000x-leveraged Bi-Directional perp.

Users can bet on price movements in either direction for the next 60 seconds with leverage in the thousands.

Instructional Video

Opening Steps

1. Pick a Token, choose one whose price you think will move.

2. Pick your width. Set your price boundaries.

   • The smaller the width the more likely the price bounces out of it.

   • Larger widths are typically cheaper and offer more leverage. But sometimes you'll find cheap small widths as well.

3. Pick an amount 1/10/100 USDC

4. Hit start and let's WUM-GO!

Tips (But Not Financial Advice!)

Smaller widths have higher probability of profitability, but a smaller payoff.

Larger widths become more lottery like, paying huge returns in very rare cases.

The optimal width correlates with price volatility. Spikes in volatility moves the optimal width higher.

How it Works

We open two Itos Takers (Automated Market Taking) and use then as a synthetic call and put option on either side of the current price. This gives us a perpetual bi-directional perp.

Then we use the rate fixer to do a 60 second rate swap on the bi-di perp to create the wumbo position.

Nothing too fancy but an honest days work!