Private Beta Overview
Introduction
Sidepit is undergoing a staged Beta rollout, which began with a Private Beta. This controlled launch phase aims to validate the platform’s functionality, user experience, and underlying model under real-world and real-money conditions.
Beta Launch Roadmap
Participants will help test the core features, provide feedback, and assist in refining the overall trading experience during the private beta phase.
Key Goals of the Private Beta:
Validate core matching engine functionality
Gather user feedback on UI/UX
Test real-money trading conditions
Identify areas for improvement before the broader launch
Launch Schedule
Start: December 28th, 2024, 6:00 AM PT
End: March 28th, 2025, 6:00 PM PT
During this window, invited participants can trade and engage with Sidepit’s early-stage matching engine. The instrument available during the beta is USDBTCH25, a Bitcoin-denominated US dollar derivative contract valued at $500.
Trading Interfaces and Tools
Sidepit supports a range of interfaces and APIs to accommodate different trading styles and technical capabilities:
Web Trading App: A user-friendly, browser-based interface suitable for most participants. Place orders, view your position, and monitor the market through a straightforward interface.
Python CLI: A command-line interface equipped with WebSocket and JSON APIs. Ideal for algorithmic traders seeking low-latency execution and programmatic access.
Settlement and Expiry
Last Trade for Beta: March 28th, 6:00 PM PT
Final Settlement: The USDBTCH25 contract will settle based on a “tick” from an external, pre-committed price source. For security reasons, the identity of this price source will remain undisclosed until after the beta concludes. The CEO will reveal the source following expiry.
At expiry, all positions will be settled and closed. Each trader’s final balance (after profit and loss) will be deterministically calculated and unlocked back to their Sidepit-ID, which corresponds to the Bitcoin address they initially used to lock their funds.
Important: For this initial run, there will be no unlock request transactions. All funds remain locked until the end of the trading phase, at which point the settlement process occurs automatically.
Verifying the SIDEPIT_BETA1_LOCK_ADDRESS
SIDEPIT_BETA1_LOCK_ADDRESSSIDEPIT_BETA1_LOCK_ADDRESS: bc1qn9szw2tfte4m2l7enhentvjpvnque932xr2m03
Participants using the Trading App UI during this beta phase must manually enter the above address into the UNISAT wallet plugin. Future iterations of Sidepit will introduce custom wallets and improved UX, eliminating this requirement.
How to Confirm the Correct Address:
This step serves as a simple sanity check, helping you confirm that you are sending your Bitcoin to the correct lock address. We appreciate your caution and thank you for participating as an early beta tester!
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