DualTrade

Synthetic perpetuals on BNB Chain. Onchain settlement. Session-based trading. Built by a solo founder. Currently on testnet.

[DualTrade @wang112007o]

Meet DualTrade: synthetic perpetuals on BNB Chain. Long or short BTC, ETH, BNB and ASTER against a protocol pool, with onchain settlement. Currently on testnet with test assets.
https://t.co/AEPVvn7GY7

[Binance @binance]

Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.

The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.

As an immediate precaution, Binance has:

- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.

Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.

Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.

https://t.co/ywB2mKFy0p

[DualTrade @wang112007o]

A losing trade. What happens next?
Meet DualTrade: onchain trading with probabilistic loss rebates. Rebates are not guaranteed.
Try our BNB Chain testnet with test assets:
https://t.co/yQap3r0D9P

#DualTrade #BNBChain #DeFi #Testnet #Aster

[DualTrade @wang112007o]

Your feedback shaped DualTrade’s testnet session controls:

• 24-hour default for new sessions
• Explicit per-order limits
• In-app key revocation

Revocation needs wallet approval and onchain confirmation. Open positions remain.

What would make these controls clearer?

[DualTrade @wang112007o]

@openfort_hq Agreed that revocation must be easy. We’ve added an in-app revoke action on testnet, with wallet approval, gas and onchain confirmation. It stops that key’s future trades once confirmed; losses and open positions remain. Scope and budgets still matter.

[DualTrade @wang112007o]

Your trading session can place orders. It cannot withdraw your funds.

DualTrade session keys cover trading; deposits and withdrawals still require your main wallet.

BNB Chain testnet · test assets.

What would you check before enabling a trading session?

[DualTrade @wang112007o]

@VoidScoutWeb3 Thanks for highlighting this. A trading key can incur losses even without withdrawal permission. Disconnecting only deletes the local key; onchain revocation is separate. Expiry or revocation does not close existing positions. Currently BNB Chain testnet, with test assets only.

[DualTrade @wang112007o]

@Zunivo_io @petrov_base_eth Agreed on cumulative onchain enforcement. DualTrade’s testnet cap is per opening order, not a session loss budget. A hard ceiling helps, but custody, expiry and revocation still matter. For perps, the budget also needs to account for open exposure and repeated trades.

[DualTrade @wang112007o]

@petrov_base_eth @Zunivo_io The per-call vs total-session distinction matters here: a 1 USDC cap still allows repeated calls unless there is a cumulative budget. Was your cap enforced onchain, or by the service receiving the requests?

[DualTrade @wang112007o]

A trading key can still open or close positions and incur losses. No withdrawal permission does not mean no risk.

Check the grant, expiry and revocation steps before enabling a session:
https://t.co/uU8gteR1Fr

[DualTrade @wang112007o]

How DualTrade's loss rebate works

Now on BNB Chain testnet, using test assets.

Eligible realized losses accumulate by wallet and VIP tier. Once a bucket reaches 5 USDC, its full amount enters a draw powered by Chainlink VRF.

The chance of winning is 1%–3%, based on VIP tier at close. A winning draw awards 100% of the accumulated gross loss in USDC; a losing draw awards zero.

Awards are funded by the House pool. If available cash is insufficient, the unpaid amount joins the FIFO payout queue. Payment depends on future available cash and can remain outstanding indefinitely.

Ordinary loss-earned DualTrade Token (DUALTR) stays with you. The rebate itself mints no extra $DUALTR.

Explore the Loss rebate page and tell us what needs a clearer explanation:
https://t.co/DKaEHJXa55

[DualTrade @wang112007o]

@boardyai Both claim recording and payout processing are onchain. The distinction is funding: a claim doesn't create cash. Available House cash pays claims FIFO, potentially in parts. If no cash becomes available, the claim remains unpaid.

[DualTrade @wang112007o]

Building DualTrade in public: what to try on the testnet

I’m building DualTrade as a solo founder: synthetic perpetuals on BNB Chain, with BTC, ETH, BNB and ASTER markets. It currently runs on testnet with test assets. Mainnet is not live.

The core flow is simple: authorize a trading session, open a position, then inspect how the position and its settlement appear onchain. A relayer submits session trades and pays their gas; withdrawals still require your main wallet.

Trades face a protocol pool. Aster market data is used as a pricing reference; orders are not routed to Aster, and this does not imply a partnership.

One detail matters when testing: settled profit and withdrawable cash are different. If pool cash is insufficient, or earlier profit claims are waiting, profit can enter a first-in, first-out payment queue. Payment depends on available funds and queue processing, with no guaranteed completion time.

If you try it, I’d love feedback on three things:
• Is the session authorization clear?
• Can you follow a position from opening to closing?
• Can you distinguish available balance from pending profit?

Reply with the step that confused you and what you expected to happen. That is useful input for the next iteration.

Try the testnet: https://t.co/BcrS4pUhB1
Read the mechanics: https://t.co/49Y1wB3orX

[DualTrade @wang112007o]

@boardyai Yes, in the current design. Realized losses build House cash; winning gains draw it down. There's no external LP deposit flow. If future free cash never covers a claim, it can remain unpaid indefinitely. An onchain claim doesn't guarantee payment. This is a core liquidity risk.

[DualTrade @wang112007o]

Fair question. The House is funded by realized trading losses; there is currently no external LP deposit/share system. User deposits remain trader collateral, not House funding.

Winning net gains use free House cash. Shortfalls enter a FIFO queue and depend on future available cash, with no guaranteed payout date. We're currently on testnet with test assets.

[DualTrade @wang112007o]

DualTrade 入门：一笔合约交易是怎样完成的？

DualTrade 是我独立开发的 BNB Chain 合成永续交易项目，目前在测试网运行，使用测试资产，主网尚未上线。支持 BTC、ETH、BNB 和 ASTER 的多空交易。

① 和谁交易？
交易对手方是协议资金池。Aster 的行情用于参考报价，订单不会被送到 Aster 撮合，也不代表双方存在合作关系。仓位和结算由链上合约处理。

② 为什么不需要每笔交易都弹出主钱包？
用户先授权交易会话，再由中继提交交易并支付交易 Gas。授权有范围和期限，提现仍需要主钱包。减少签名步骤，不等于消除杠杆交易的亏损风险。

③ 平仓盈利后，钱会立即到账吗？
要区分已结算的盈利与可提现余额。当资金池可用现金不足，或前面已有待支付盈利时，盈利可能进入先进先出的支付队列。到账取决于资金和队列处理，没有固定等待时间。

现在最希望收到的是具体体验反馈：开仓是否顺手？会话授权是否容易理解？你能否分清余额、仓位与待支付盈利？

测试入口：https://t.co/BcrS4pUhB1
文档：https://t.co/49Y1wB3orX

欢迎在评论区留下卡住的步骤，我会据此改进。

[DualTrade @wang112007o]

DualTrade 是 BNB Chain 上的合成永续交易项目，由独立创始人开发运营。目前使用测试资产，主网尚未上线。欢迎体验并反馈操作中不清楚的地方。
https://t.co/AEPVvn7GY7

[DualTrade @wang112007o]

Meet DualTrade: synthetic perpetuals on BNB Chain. Long or short BTC, ETH, BNB and ASTER against a protocol pool, with onchain settlement. Currently on testnet with test assets.
https://t.co/AEPVvn7GY7

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