Degen Mode
The Degen Trading Mode offers traders an alternative way of trading compared to conventional trading methods. Traders who prefer to reduce screen time analyzing the market and have a more hands-off approach can choose this trading mode. During periods of high volatility, traders can maximize their gains with 0 slippage, high leverage and extremely low fees. In low volatility, traders can speculate on minor price movements.
Initially, Degen Trading Mode will be available for BTCUSD and ETHUSD, supporting maximum leverage of 1001x for long and short market orders. Traders must input the principal (collateral amount) before opening a position with zero slippage.
Degen mode is available on both BNB Chain, Arbitrum, opBNB and Base chain on Perpetuals V2.
Degen Mode Format
Degen mode offers the following gameplay characteristics and benefits to our perpetual traders:
High Leverage, Lower Upfront Collateral - With higher leverage of 1001x, users can participate and amplify their trading strategies through Degen Mode. Users can now enjoy a higher upside without posting significant upfront collateral.
Lower Fees - With zero-slippage trading, users can enjoy a better trading experience. Users are not charged open position fees. This increases users' trading upsides as open position fees can now be saved and used as collateral.
Dynamic Fee Structure - Uniquely tailored for Degen Mode, the Dynamic Fee Structure for closing positions is meticulously designed to charge fees based on Profit and Loss (PnL). For more information on dynamic fee structure here.
Pair Offerings - Degen Mode is available for BTCUSD and ETHUSD on BNB Chain, Arbitrum, opBNB and Base chain.
How it works
Go to https://perp.pancakeswap.finance/en/futures/v2/ or select "Perpetuals" on our home page.
On the top right of the screen, select "Long" or "Short" position and click on "Degen Mode (BETA)" icon. Degen mode is activated when the icon is highlighted (In light blue).
Select the amount and appropriate leverage. Degen mode supports up to 1001x leverage
Select take profit amount (between 50% and 300%) and select open position.
Your position will be reflected in the "positions" tab at the bottom of the screen. To confirm degen mode is activated, a "Pepe" is displayed in the leverage column to indicate degen mode position.
To close the position, hit the "close" button at the side of the position. Otherwise, Degen Mode close will automatically be executed at take profit or liquidation period. For more information, please refer to Perpetuals V2 Glossary and Perpetual Trading FAQ.
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