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What is a Funding Account?

img The funding account can be defined as your dedicated blockchain account within the Polkadex network. Put simply, it represents your Polkadot.js account that serves as the gateway to access the Polkadex blockchain.

The name is derived from the fact that this account ‘funds’ your Trading Account(s) to trade on the Polkadex Orderbook exchange.

What is a Trading Account?

img The trading account is exclusively intended for conducting trades on the Polkadex Orderbook platform.

Its functionality is restricted to executing trades and returning tokens to the associated funding account upon completion of trading activities.

A trading account linked to a specific funding account, possesses the capability to transfer tokens exclusively back to that corresponding funding account alone.

How do I register my Funding account with Orderbook?

  1. Begin by registering or logging into Polkadex Orderbook using your email address.

  2. In the 'Wallets' tab, located on the left-hand pane, navigate to the 'Funding Accounts' section to see a list of your available accounts you can use to connect to the Orderbook.

  3. Select the desired account and click 'Use in Orderbook,' then proceed to sign the Polkadot.js message in order to use your account in Orderbook.

  4. Following this authorization, you will see the 'Register Now' option appear adjacent to the selected account.

  5. Opt for 'Register Now' adjacent to the preferred account you intend to use as your Funding account.

  6. Upon registering a funding account, a Trading account is automatically generated. Follow the instructions presented on the right-hand side of your screen and select 'Register and Create Account.'

  7. Sign the transaction using your Funding account via the Polkadot.js browser extension.

  8. Your Funding Account is now registered, and a linked Trading account is created. You can locate the Trading account in the 'Trading Accounts' section at the top of the page.

  9. Here you have an option called ‘Add Funds’ to transfer tokens into this Trading account from the associated Funding account to commence trading.

How do I add new trading accounts?

  1. Navigate to the 'Wallets' tab, and locate the 'Trading accounts' section.

  2. Click on the pink '+ New Account' button situated next to the 'Trading accounts' section. Select the 'Create new account' option and proceed by following the steps outlined in the right-side pop-up menu.

  3. Sign the transaction required for this process using your Funding account through your Polkadot.js browser extension.

Why are there multiple trading accounts?

The platform employs a decentralized approach by storing trading account data locally on the user's device or browser rather than relying on centralized servers. This enhances user control and data privacy.

Funds transferred from a Funding account will be available across all the Trading accounts linked to that funding account.

Multiple trading accounts linked to a funding account allow users to seamlessly access the available trading account balances that are not in open orders from different devices or browsers.

It's important to note that while funds are shared across linked Trading accounts, certain limitations apply:

Trades initiated from one trading account cannot be canceled using another Trading account linked to the same Funding account. Cancellation of trades must be managed within the same Trading account where the trades were placed.

How many trading accounts can there be for a funding account?

Each Funding account within the Polkadex Orderbook platform can be linked to a maximum of three distinct Trading accounts.