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  • Electra Terminal Guide
    • 1.1 Connecting your EVM wallet
    • 1.2 BNB/ETH Gas Fees
    • 1.3 Deposits and Withdrawals
    • 1.4 1-Click Trading
    • 1.5 Notifications
    • 1.6 Electra Security & Audit Report
    • 1.7 Airdrop Checker FAQ
  • Electra Trading School
    • 2.1 What Are Perpetual Futures?
    • 2.2 Competitive Advantages of Electra for Perpetual Futures Trading
    • 2.3 Trading Fees on Electra
    • 2.4 Overview of Primary Order Types on Electra
    • 2.5 Futures Liquidation Protocols on Electra: Formula and Process
    • 2.6 How to Reduce the Risk of Liquidation on Electra
    • 2.7 Automatic Negative Balance Reset on Electra
    • 2.8 How to Adjust Leverage on Electra
    • 2.9 What Is Slippage?
    • 2.10 How to Use the Order History Feature on Electra
    • 2.11 Order Errors on Electra: Causes and Solutions
    • 2.12 Referral Program
  • Electra Tournaments
    • SQUAD Games Season 2
      • General Rules
      • How to Participate
      • Squad Formation
      • Squad Referral Links
      • Tournament Prizes
      • FAQs
    • SQUAD Games Season 1
      • Tournament Prizes
      • Tournament Schedule
    • PnL Challenge
  • Electra Liquidity Provider Pool
    • Introduction to ELPP
    • How ELPP Works
    • ELPP Tokens
    • Withdrawal System
      • Understanding Epochs
      • Timelock Calculation
      • Token Transfer Restrictions
      • Partial and Flexible Withdrawals
    • Collateralization
    • APY Calculation
    • Risks and Considerations
    • FAQ
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  1. Electra Terminal Guide

1.3 Deposits and Withdrawals

Electra offers a centralized USDT deposit/withdrawal system that ensures the secure storage of your funds while simplifying the management of your trading positions.

Your primary assets remain in your connected wallet, maintaining their safety. However, to fully utilize the platform's features and trade futures, a portion of your funds is transferred to the centralized deposit. This is necessary for the following purposes:

  • Maintaining positions: The centralized deposit supports your open trading positions.

  • Avoiding liquidation: If your margin level drops and there aren’t enough funds in the centralized deposit, the system may automatically liquidate your position. To prevent this, it’s crucial to top up the deposit promptly.

Disclaimer: In case of insufficient funds in the centralized deposit, you’ll need to replenish it to maintain your position and avoid liquidation.

How to Deposit Funds:

  1. Navigate to the Balance Management section on the Electra platform.

  2. Enter the amount you wish to transfer from your wallet to the centralized deposit.

  3. Confirm the transaction in your wallet interface.

Process for Depositing Funds from an EVM Wallet to Electra

1.3.1 Ensure You Have BNB/ETH for Network Fees To use Electra, make sure you have enough tokens for trading or exchange, as well as funds to cover network fees.

1.3.2 Connect Your Wallet to Electra

  • Visit the Electra website.

  • Click the Connect Wallet button.

  • Select your EVM wallet (e.g., MetaMask, Trust Wallet).

  • Confirm the connection in your wallet interface.

1.3.3 Check Your Wallet Balance

  • Ensure the necessary tokens are in your wallet.

  • If tokens are missing, top up your wallet by transferring funds to its address.

Withdrawing Funds from Electra to an EVM Wallet

Important! Before withdrawing funds, ensure you have no open positions. Funds tied to active trades cannot be withdrawn until the positions are closed.

Steps for Withdrawing Funds:

Check Available Balance:

  • Verify that you have accessible funds in your Electra account for withdrawal.

  • Funds linked to active positions will remain temporarily unavailable.

Withdrawal Fee:

  • A withdrawal fee (in USDT) equivalent to the transaction costs on the selected blockchain network may apply.

  • Ensure you have sufficient funds to cover this fee.

Withdraw Funds:

  • Go to the Withdrawal section.

  • Enter the address of your EVM wallet (e.g., MetaMask or Rabby).

  • Specify the withdrawal amount and confirm the operation.

Transaction Verification:

  1. After confirming the transaction, check your wallet to ensure the funds have been successfully received.

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Last updated 2 months ago