FAQ

How is BSX non-custodial?

On BSX, deposits and withdrawals are done through smart contracts where no centralized party has access or control over funds and transactions. Simply put, the funds that you trade with on BSX are yours and BSX cannot take custody of these assets

What type of margining mechanism does BSX employ?

BSX defaults to cross margin, meaning that everything you use to trade with on BSX is used towards your margin. This includes your USDC balance and the unrealized PnL of your open positions.

What is the current collateral I can use on BSX?

Currently, we accept USDC as initial collateral for opening trades on BSX

How can I give feedback and ask for help?

To get in touch with the team, join BSX’s discord (discord.gg/yP4UCzdj6P) and create a ticket. Right now we are in testnet phase so if you have specific feedback or any feature requests you can use #testnet-feedback-bugs or #feature-requests channel.

Will there be a referral program?

Yes, of course we will be having a referral program. We want to make sure core ambassadors of BSX who champion the exchange can share in the success of the protocol. Stay tuned as more information comes out.

What types of assets can I deposit into BSX?

BSX supports only USDC on Base. The platform regularly evaluates and adds new assets based on user demand and market relevance.

What is the withdrawal processing time on BSX?

Withdrawals on BSX are processed within 24 hours of the request. The exact timing can depend on network conditions and security checks designed to protect user assets.

How do I withdraw funds from my BSX account?

Withdrawing funds involves logging into your BSX account, navigating to the 'Withdraw' section, selecting the asset, and entering the withdrawal amount and destination address.

How quickly are deposits processed on BSX?

Deposit times on BSX vary by asset and the corresponding blockchain’s congestion and performance at the time of deposit. Most deposits are credited after a requisite number of confirmations on the Base, typically it’s a near instant transaction.

Are there any fees associated with deposits or withdrawals on BSX?

BSX aims to maintain a transparent fee structure. There are no fees for deposits. However, withdrawals are subject to a minimal fee to cover the transaction costs inherent to blockchain operations.

Is there a gas fee for trading on BSX?

On BSX, trading does not incur traditional gas fees as seen in typical blockchain transactions. This is because order processing is handled off-chain. However, transactions that interact with the blockchain, such as final settlements and withdrawals, may require a network fee.

What trust assumptions are necessary for using BSX’s off-chain orderbook?

BSX’s off-chain orderbook requires users to trust the platform’s security protocols and infrastructure, as well as its commitment to maintaining market integrity. Transactions and order matching are processed off-chain to provide speed and efficiency, with final settlements occurring on-chain, ensuring transparency and auditability.

What are the trading fees on BSX, and where are they accumulated?

Trading fees on BSX are structured to be competitive. Current fees are Taker: 0.06% & Maker: 0.02%

How do I deposit funds into my BSX account?

To deposit funds, users need to log into their BSX account, navigate to the ‘Deposit’ section, and follow the instructions to transfer funds from their external wallet onto BSX.

What type of oracle does BSX use for price feeds?

BSX uses a combination of proprietary and Stork oracle solutions to provide accurate and reliable price feeds. This approach helps mitigate risks associated with price manipulation and ensures a robust system for derivative pricing and risk assessments. Here’s the docs

How can I activate cross-margin trading on BSX?

Cross-margin trading is activated by default on BSX, allowing users to use all their balances to cover margin requirements across different positions for enhanced trading flexibility.

Which market makers are active on BSX?

BSX collaborates with several top-tier market makers to ensure deep liquidity across all trading pairs. These partnerships are carefully selected based on criteria that include the market makers' ability to provide competitive spreads and uphold high standards of integrity and performance.

Does BSX rehypothecate user funds?

BSX is committed to the secure and straightforward management of user funds, operating under strict policies that prevent the lending of user funds to third parties or conducting unauthorized transactions with user deposits.

Does BSX have a proprietary token?

The status of a proprietary token for BSX is currently to be determined (TBD).

On which blockchain does BSK operate?

BSX primarily operates on the Base blockchain, leveraging its robust infrastructure built on top of OP Stacks and supported by Coinbase for enhanced security and performance.

Has BSX undergone a security audit?

BSX takes security seriously and has completed a comprehensive security audit conducted by Halborn, a reputable third-party security firm. This audit ensures that every component of the BSX platform, from smart contracts to infrastructure, adheres to stringent security standards.

Why does my Profit and Loss statement show a discrepancy?

Discrepancies in the Profit and Loss statement can occur due to unrealized P&L calculations, where open positions are marked to market based on mark prices. These figures can fluctuate until positions are closed, reflecting the real-time market conditions.

How can I locate my referral link on BSX?

You can find your referral link in the 'Referral Program' section of your account dashboard on BSX. Using this link benefits both you and the community. You earn 1 point for every 10 trading points generated by your referrals, plus you get fee kickbacks, making your trading experience even more rewarding.

Why was my Stop Loss or Take Profit not triggered at the set price?

A Stop Loss or Take Profit order may not be executed at the set price if the market price gaps beyond it or if there's insufficient liquidity at the exact target level. BSX strives to execute these orders as close to the target price as possible, but in volatile markets, some slippage can be expected.

Does BSX offer a Dashboard for trading insights?

Yes, BSX offers a Dashboard that provides users with real-time insights into their trading activities and portfolio performance. It’s in the portfolio section.

Why was my trade executed at an unexpected price?

Trade executions at unexpected prices can occur due to market volatility or liquidity gaps, especially in fast-moving markets. BSX utilizes advanced order matching algorithms to minimize this risk, but in cases of extreme market movements, order slippage can still occur.

Can I view my trading volume on BSX?

Yes, you can view your lifetime trading volume on BSX by going to Points section then to Referral. This section provides detailed statistics about your trades, including volume and referral history.

Why was my Stop Loss or Take Profit order canceled?

Such orders could be canceled due to changes in market conditions or if they violate trading rules, such as maintaining necessary margin levels. It’s important to ensure that all trading conditions are met and to monitor orders closely, especially in volatile market scenarios.

What could cause a negative balance on my account?

A negative balance on your BSX account can occur due to an oversight in margin requirements or an exceptionally volatile market affecting your leveraged positions. Immediate steps should be taken to address the negative balance, either by depositing additional funds or closing positions to mitigate further losses.

Why is my account still in liquidation?

If your account remains in liquidation, it could be due to insufficient margins or ongoing market volatility preventing your positions from recovering. It’s crucial to monitor your margin levels and adjust them accordingly to avoid prolonged exposure to liquidation risks.

My profit isn’t reflecting; what could be the reason?

If your realized profit isn’t reflected in your available balance immediately, it could be due to ongoing settlements or the need for transactions to be confirmed on the blockchain. BSX ensures that all funds are accurately reflected as soon as possible following trade settlements.

How does BSX handle large volume trades without impacting market price?

BSX employs advanced order matching algorithms and collaborates with liquidity providers to efficiently manage large volume trades. This strategy minimizes market impact and ensures optimal execution without significantly affecting the market price.

Can I use BSX for algorithmic trading, and if so, what tools are available?

Yes, BSX supports algorithmic trading and provides a comprehensive API for users to create and manage trading bots. These tools support automated trading strategies, real-time data processing, and custom algorithm implementation, suitable for both novice and advanced traders.

Why am I unable to access my account data?

If you’re experiencing issues accessing your account data, it could be due to technical difficulties, maintenance activities, or security measures triggered by unusual activity. Contacting BSX support will provide guidance and help resolve access issues efficiently.

Where can I find documentation on BSX’s API?

Documentation for BSX’s API is available on the BSX website under the “Technical” section. This comprehensive guide includes details on how to integrate, authenticate, and use the API effectively for trading automation and data retrieval.

What’s the difference between a limit order and a market order on BSX?

A limit order allows setting a specific price for buying or selling, providing control over pricing but not guaranteeing execution. A market order executes immediately at the current market price, ensuring execution but with the risk of slippage in fast-moving markets.

Why does my liquidation price vary?

The liquidation price on BSX varies due to changes in market price, account balance, and leverage used. These factors fluctuate, reflecting the real-time risk of leveraged positions.

Are there educational resources available on BSX for new traders?

BSX provides a variety of educational resources, including tutorials and a knowledge base that covers both fundamental and advanced trading concepts. Check out the docs and full tutorial here

What contingency plans does BSX have in place for system outages or technical failures?

BSX has comprehensive contingency plans, including redundant systems, backup data centers, and disaster recovery protocols to ensure platform resilience and uptime. In case of a system outage, BSX actively communicates with its users and works to restore full functionality as quickly as possible.