August 28 Update Announcement -Deployment on Base & Strategy Alteration

1. Deployment on Base

Upon accessing the UI, you might notice a newly added network.

If you’re using MetaMask, you’ll need to manually add the BaseNetwork by following the steps below.

MetaMask Instructions

Step 1: Open the MetaMask browser extension.

Step 2: Click on the network selection dropdown at the top of the extension.

Step 3: Choose the „Add network“ option.

Step 4: Then, in the dialog box that appears, fill in the following details:

Network Name: Base Mainnet

Description: The public mainnet for Base.

RPC Endpoint: https://mainnet.base.org

Chain ID: 8453

Currency Symbol: ETH

Block Explorer: https://basescan.org

Step 5: Click the „Save“ button to finalize adding Base as a network.

Once completed, you can easily connect to Base by selecting it from the network dropdown.

2. What’s Different When Accessing Base?

Products on Base are built upon the ETH-USDbC Pair. Here, USDbC is used as margin for transactions.

Are there other distinctions besides the margin? Yes, its implied volatility differs from Arbitrum.

The premium received from a Short Strangle is calculated based on Implied Volatility (more precisely IV^2 / 8).

Thus:

- Higher Implied Volatility implies a larger premium from Short Strangle.

Therefore, by comparing the Implied Volatility between Arbitrum and Base, executing a Short Strangle in the one with higher volatility ensures better profitability. Even though full liquidity has not yet been reached, everything from regular Perpetual Futures to Strategy and Lending is now public.

3. Other Concurrent Updates

- We’ve removed the price trigger for Hedge in the strategies for both Arbitrum and Base.

- We’ve adopted Bridge USDC as margin on Base. While there’s a balancing act with Uniswap liquidity, we’re basically considering employing Native USDC in the next update.