Storm Trade: Decentralized Derivatives Trading on Telegram

What is Storm Trade?

Storm Trade emerges as the pioneering decentralized derivatives trading platform on Telegram, leveraging the TON blockchain to offer users leverage up to x50. Seamlessly integrated into the Telegram ecosystem, Storm Trade is designed to attract the next wave of DeFi enthusiasts with its innovative Social-Fi mechanics and user-friendly interface.

Key Features of Storm Trade

Expanded Trading Capabilities: Storm Trade provides leverage up to x50, instant price updates, and supports various cryptocurrency trading pairs, with collateral options in TON and USDT.
Social-Fi Mechanics: The platform features direct Telegram integration, squad trading tournaments, NFT collections, and copy trading, fostering enhanced community engagement and viral growth.
User-Friendly Interface: With an interface inspired by traditional trading DEXs and integrated TradingView charts, Storm Trade offers a familiar and comfortable trading environment.
Robust Security: The platform ensures the safety of user funds through full decentralization and advanced security protocols.

How to Use Storm Trade

Users can access Storm Trade through its web app or directly via the Telegram bot, making it highly accessible and convenient for traders.

You’ll need to download the Telegram app on your computer or mobile i.e. if you don’t already have it.

Otherwise, you can simply scan it on your mobile and connect the app to your device.

In addition to having the Telegram app installed on your device, as a prerequisite, you also need a wallet that supports Telegram Open Network (TON) blockchain e.g. Wallet or Tonkeeper.

For this demostration, I will be using TON Space – a TON blockchain self-custodial wallet that allows me to be the only party with the private key and Secret Recovery Phrase. With the wallet you can send and receive NFTs, Jettons, and TON to your TON Space.

Once your wallet is connected to Storm Trade, you can view your assets and transaction history, send, deposit or swap assets.

You need TON and USDT to transact using Storm Trade.

You can purchase TON or USDT from crypto exchanges such as Bybit, Binance, PrimeXBT, etc and withdraw the assets to your Storm Trade wallet. Simply copy your address and send the crypto from your exchange of choice.

With Storm Trade, you can LONG or SHORT. Choose the currency pairs you wish to trade.

You can choose the amount of leverage you wish to use and clearly view the type of order e.g. market, position size, entry price, liquidation price, etc. You can also set your stop loss.

You can also confirm the transaction on the TON block explorer, Tonviewer.

To short, the process is similar.

You can view your open orders easily on the dashboard.

Storm Trade’s Roadmap

Storm Trade aims to become the most engaging and accessible trading platform on Telegram. Upcoming updates include:

Launch of the STORM token
Enhanced Social-Fi features and trading tournaments
Addition of new trading pairs
Development of a Decentralized Execution Network
Introduction of cross-margined futures
Formation of global partnerships
Improved risk management systems
1-click and gasless trading
Implementation of copy trading and prediction markets
Launch of the Storm Ambassadors Programme

Seamless Telegram Integration

Storm Trade’s integration with Telegram allows users to trade directly from the Telegram Web App (TWA), enhancing convenience and trading fluidity. This integration utilizes Telegram’s secure messaging infrastructure, providing real-time notifications, direct wallet access, and rewarding traders and liquidity providers.

Storm Trade Tokens: SLP and STORM

Storm Trade utilizes two key tokens:

SLP (Storm Liquidity Provision): SLP tokens are minted when users add liquidity and burned when they withdraw it. SLP represents a share in the vault’s liquidity, which acts as the counterparty to all trades on the platform. SLP holders earn a portion of trading fees, liquidation penalties, and other fees.
STORM Token: This deflationary utility token is integral to the platform, offering reduced trading fees, protocol fee payments, access to a private community, and rewards for active ambassadors. With a limited supply of 1 billion tokens, STORM connects stakeholders, traders, and liquidity providers, enhancing liquidity efficiency and trading experience.

Token Information

Token Symbol: STORM
Total Supply: 1,000,000,000 STORM
Token Type: Non-inflationary

Distribution Breakdown

IDO: 4.2%
Community & Ecosystem: 30%
Investors: 17.9%
Advisors: 5%
Liquidity: 10%
Team: 15%
Airdrop: 3.5%
Treasury: 14.4%

STORM Token Functions

Protocol Fee Payments: Use STORM tokens to pay Storm Trade protocol fees.
Fee Discounts: Lock STORM tokens on the platform to receive discounts on protocol fees.
Exclusive Community Access: Gain entry to a private Storm Trade community.
Ambassadors Program Rewards: Earn rewards through the Ambassadors Program in STORM tokens.

Upcoming IDO and Token Launch

The STORM token launch will soon be available, with 4.2% of the total supply available for purchase. Market Makers NFT holders will receive early purchase opportunities. The token will launch simultaneously on Tonstarter, Magic Square, and BullPerks at a fixed price. Post-whitelist sale, the token will be available for public purchase.

SLP Token: Providing Liquidity

SLP tokens represent a share of the vault’s liquidity and are crucial for facilitating trades on the platform. Users can mint SLP by providing USDT/jUSDT or TON tokens and can redeem SLP to withdraw their tokens. SLP holders benefit from trading fees and other protocol-generated revenues, though they also face certain risks, such as smart contract vulnerabilities and counterparty risk.

Advanced Trading Features

Storm Trade offers isolated margin trading, protecting traders from significant losses by segregating margin for individual positions. The platform supports a wide range of assets, including cryptocurrencies, forex, equities, and precious metals, with plans to continually expand available trading pairs.

Fee Structures on Storm Trade

Storm Trade charges both network and protocol fees. Network fees are dynamic, based on transaction specifics, while protocol fees are charged at position opening and closing. The platform also implements rollover fees for holding positions and funding payments between traders on opposite sides of the market.

Referral Program

You can earn 10% of your referees’ fees.

Conclusion

Storm Trade is set to redefine decentralized trading with its deep integration into Telegram, innovative features, and strong community engagement mechanisms. With its robust token ecosystem and commitment to security, Storm Trade offers a compelling trading experience for both new and seasoned traders.