FAQs

1. Which chain can I use Mu Exchange on?

   • Mu Exchange is native only to Gnosis Chain and has decided to make Gnosis Chain our forever home.

2. Why can't I access Mu Exchange?

   • Unfortunately, Mu Exchange and its related websites are unavailable and not intended for any persons or corporations in the USA or any country subject to any sanctions, including those programs run by OFAC and the UNSC or any person in a restricted country.

3. How do I get my assets over to Gnosis Chain?

   • Please refer to our Getting Started On Gnosis Chain to get trading!

4. What are $sDAI and $xDAI?

   • $xDAI - the native token of the network, is a stablecoin and a gas token.

   • $sDAI - is an interest-bearing stablecoin usable as collateral for trade and liquidity on Mu.

   • Please read the doc here for a more detailed description of $sDAI and $xDAI.

5. Why can't I open a trade?

   • Note that the minimum position size is 50 $sDAI. You can use lower leverage by using higher collateral or higher leverage and lower collateral.

6. What is slippage?

   • Slippage refers to the amount you would be satisfied with the price moving when opening your position. For instance, if the price were to move more than 1% while awaiting the oracle to return the price - you may be unsatisfied with that open. You can set slippage to ensure you open within the price range you are happy to, and if the price deviates from this, the trade will not open.

7. What is price impact?

   • This allows traders to open in extremely still, clear direction market conditions - rather than this necessitating a decrease in the maximum open interest, traders can still take advantage of these plays.

8. Why is the coin/asset/token not listed?

   • Coins and assets are listed when we can provide a reliable trading experience for them. This is determined based on the availability of a sufficient number of price sources and the trading volume and liquidity of the pair from the price sources.

9. Why does the asset say "Closed"?

   • Unlike crypto markets, forex and commodities are not open 24/7. Please read here for more information regarding trading hours.

10. Can I go into debt?

    • No, you cannot go into debt. You can only lose the collateral you stake. Naturally, if your position has reached a position that must be liquidated (-90%), your loss will be all your collateral. Otherwise, your gain or loss will be what is returned to you. Only put up collateral that you could afford to lose. Stop Losses and Take Profits can help you close your position where you like.

11. Where does the collateral go when I close the position for profit/loss?

    • To best understand this, please refer to $msDAI Vault. In short, you will always be paid out if you close in profit. You are paid out from the vault, which bears the risk as the principal counterparty to traders. If the trade is closed at a loss, you are paid out the remaining portion of your collateral from the contract, and the portion of your loss goes to the vault. Unless you have been liquidated, all collateral goes to the vault. The portion of the collateral that was your loss remains in the $msDAI vault to be used to pay out other traders.

12. Can I use other stablecoins as collateral?

    • You cannot. Please read here to learn how to swap to $sDAI.

13. How do I know Mu is safe?

    • All trades are on-chain, and all contracts are viewable with all their functions. Peckshield has audited the contracts.

      All contract upgrades are publicly announced in advance, audited, and contain time locks so that users can see the code base before they become active.

      All contracts can be easily viewed on Gnosisscan to confirm the platform's functions.

14. Where can I get help?

    • Please check out our links here to contact the Mu Exchange team! We will try our best to respond as soon as possible.

15. I don't see my trade in the trade history/current opened trades/closed trades; why?

    • It takes time for block confirmations to take place. Updates are being worked on to make this instant, but until then, please be patient, and they will show up. If you run into any issues, please create a ticket on Discord.

16. How do I fix RPC issues?

    • Type in Gnosis on https://chainlist.org/ and click the drop-down arrow. We recommend using https://rpc.gnosis.gateway.fm or https://rpc.gnosischain.com; however, Chainlist will show you all actively working RPCs.

17. What are block confirmations?

    • Block confirmations are required to finalize a transaction. When you submit any transaction, you will see these being counted down in the top right of your screen.

18. How do I update my SL or TP?

    1. Click on the area where it says TP/SL, click on the icon below, and adjust the prices to the percentage you wish to place your SL or TP.