DNA Farming Part 2: Shorting via AscendEX (Patreon)

First 5:36 of video is a discussion on the circumstances of shorting perps. Main part of video begins at 5:37.

First 5:36 of video is a discussion on the circumstances of shorting perps. Main part of video begins at 5:37.

First 5:36 of video is a discussion on the circumstances of shorting perps.
Main part of video begins at 5:37.

AscendEX referral: https://ascendex.com/en/register?inviteCode=UGBZKHZIT

In Part 1, we opened up long ATOM positions in our Keplr wallets. This allows us to receive our APY for holding and makes us eligible for airdrops on the Cosmos network.

This is fine for those who are satisfied being exposed to price movements in ATOM. But most traders will want to be at least partially hedged so that our exposure is reduced without having to give up the APY on our longs or our eligibility for airdrops.

To open short positions, we will open perpetuals contracts, which are similar to futures contracts.

The risk: Perpetuals aren't available on major exchanges, so we need to go off-broadway to less reputable exchanges or VPN to outside the US.

With this in mind, we'll hedge our bets by using multiple platforms, such that if there is any real issue with one, we aren't entirely dependent on that platform.

This video will focus on AscendEX (previously BitMax), because it is the easiest platform to use.