One-Click Trading (1CT)
Forget about Metamask confirmations
One-click trading (1CT) removes the need to interact with a wallet when submitting transactions, reducing time to trade.
It does this through the use of two new mechanisms:
- 1CT wallet
- Trade delegation
gTrade uses a derived externally owned account (EOA) wallet for submitting trading transactions.
It relies on the following sequence:
- 1.Trader provides a 4 digit PIN
- This pin should be remembered for future recovery
- 2.Trader signs a prefixed message of the PIN using their wallet
- The wallet used to sign the message should be remembered for future recovery
- 3.gTrade website generates an Secp256k1 key pair using the signed message as a seed
- 4.gTrade website encrypts and stores the key material on the local device
Key material is deterministic meaning it can be replicated. Pin + personalSign gives strong security guarantees while allowing a trader to recover material if lost. A trader can also use this to prevent storing on device between trading sessions (clear and regenerate for each session).
Once a trader creates a 1CT wallet, they must grant it permissions to trade on their behalf by approving it as a delegate.
gTrade smart contracts support a delegation feature, allowing EOAs to submit transactions on behalf of other EOAs.
To delegate trading to another EOA, a trader must approve the address as a delegate through the trading contract.
A delegation wallet only needs gas funds for submitting transactions, as collateral and PnL are tied to the trader address.
The 1CT wallet is a delegation wallet.
gTrade offers an onboarding experience for all of the above:
- 1.Create PIN
- 2.Sign message
- 3.Approve 1CT wallet
- 4.Fund 1CT wallet
- 5.Enable feature
Once a trader has onboarded, they may manage the feature under the accounts dropdown:
- Enable/disable the feature
- Fund 1CT wallet
- Withdraw all funds from 1CT wallet
- Export private key
- Reset/wipe all 1CT data
Once onboarded, a trader may enable the feature and use their normal trading workflows. At this point there is nothing different other than not having to confirm transactions in a wallet.
Because 1CT wallet is managed by the site, transaction management is taken in-house. This provides a place to track transactions and interact if they're stuck by speeding up or canceling.
Is the 1CT wallet key material stored somewhere? Only on your device. You can wipe it using "Reset" whenever you choose.
I wiped my device storage, is my 1CT wallet gone? Yes but you can restore it by using the same PIN and wallet when re-generating.
Are trades opened against my 1CT wallet? No, they are opened against your connected wallet.
Do I have to have 1CT enabled to interact with trades I opened with it? No, you may toggle the feature on and off whenever you'd like.
Can I use the same 1CT wallet on multiple devices? Yes, as long as you use the same PIN and wallet while generating.
Can I use the same 1CT wallet for multiple accounts? Yes, you may delegate to your 1CT wallet with any connected wallet.
Can I have multiple 1CT wallets? For each account you use to trade, you may have one delegate. The recommended setup is to use the same 1CT wallet for all trading accounts.
What if my transaction is stuck? In the accounts dropdown, you'll find a transactions list. Here you may speed up and/or cancel a stuck transaction.
Do I have to have key material stored on device? No, you can re-create your 1CT wallet and reset it at the end of each trading session. Just use the same PIN and wallet to sign.