June Update: Next Invites, Position Fixes, and 13k Trades

Author Image Denis Bykov

Denis Bykov

Morpher monthly June update with mockup image of office space.

Happy summer everyone. Hope the covid situation is under control in your area and you can enjoy the summer weather. Vienna has been sunny but rainy, so our team has stayed in and gotten quite a bit done. Here’s what happened in June and what to expect in July:

Trading Invitations

So far 10,000 users have been invited to trade on Morpher. The gradual onboarding has been great for solving issues quickly and continuing to build the best product possible.

Some quick stats:

  • Over 13,000 trades
  • Across 300 different markets
  • Average leverage of 4x
  • 16 million tokens redeemed
  • Users from 120 countries

Next Invites 📨

Those of you patiently waiting don’t have to wait much longer, we’re vetting the next batch of 10,000 invites to send next week. Thousands more invites will send out a week after that.

Redeemed Amount < Rewards

Common question that comes up: why is my redemption amount less than tokens earned? Good question. If you referred a friend that we haven’t invited yet, we will pause your token bonus until we can finally invite your friend to trade. This will become automatic soon, allowing you to claim all your additional rewards with one click.

Exchange Listing

If you’ve seen the roadmap, you’ll notice we’re behind schedule on exchange listings. Lots of progress will be made in July, but this is a process that takes time. The lack of an exchange listing is also delaying the availability of deposits/withdrawals. On the bright side, we’ll publish our official white paper soon – stay tuned!

Fixes & Upgrades

Quite a few stability improvements in the background and a few UI & feature improvements.

Liquidation Notifications 📉

You can now see any positions that were liquidated (went bankrupt) in the History page. They’ll be tagged as liquidated in the status column. If visit the market that was liquidated, we leave a note so you won’t be left wondering why your position disappeared. Starting next week we will send an email notification for all liquidations with some extra details.

Improved Search 🔎

It’s much easier to find the market you want with complete search results. Search also now favors market symbols over names, so you can find the exact market you want even faster.

Position Value Bugs Squashed

You all really love leverage, which is great in moderation. We discovered a bug where doubling down on a position with different leverage amounts wouldn’t always update correctly. This has been resolved, no more weird values when you change leverage with new trades.

Claim Process Improved

Our virtual sidechain ETH faucet ran out on some signups. That’s been ironed out, making claims much smoother for future signups.

Data Processing Improvements

Data quality is something we constantly improve in the background. In the latest batch of improvements we have much smarter market pausing. If you ever noticed a commodity or index paused on a weekend, you’ll be glad to know that won’t happen anymore – 24/7 trading only!