Setting up your wallet

Before you can trade on derp.trade, you need a Solana wallet with some USDT. This guide walks you through the setup.

What you need

• A Solana-compatible wallet - Phantom, Solflare, or Backpack.
• USDT on Solana (SPL USDT) - this is the collateral for all trades.
• A small amount of SOL - for transaction fees (fractions of a cent per transaction).

Step 1: Install a wallet

We recommend Phantom - the most popular Solana wallet, available as a browser extension and mobile app.

Alternatives: Solflare and Backpack.

1. Go to your wallet's website and install the browser extension.
2. Create a new wallet and save your recovery phrase somewhere safe.
3. Set a password for the extension.

Step 2: Fund your wallet with SOL

You need a small amount of SOL to pay for Solana transaction fees. These cost less than $0.01 per transaction.

Options:

• Buy SOL on a centralized exchange (Coinbase, Binance, Kraken) and send it to your Solana wallet address.
• Bridge SOL from another chain using a bridge like Wormhole.

Step 3: Get USDT on Solana

All derp.trade positions are denominated in USDT. You need SPL USDT (the Solana version of USDT) in your wallet.

Options:

• Buy USDT on a centralized exchange and withdraw it to your Solana wallet.
• Swap SOL for USDT using a DEX like Jupiter or Raydium.

Step 4: Connect to derp.trade

1. Go to derp.trade.
2. Click Connect Wallet in the top right.
3. Select your wallet (e.g., Phantom) from the list.
4. Approve the connection in your wallet's popup.

Once connected, you will see your USDT balance on the trading page. You are ready to trade.