Getting Started with Gryps
Gryps is an intent-based RFQ perpetuals DEX built on the SEI network. Instead of matching orders on a traditional order book, Gryps routes your trading intent to a competitive solver network that quotes you prices in real time. Trades settle bilaterally on-chain through Symmio's trustless clearing layer, and your funds stay in your own wallet throughout.
This guide walks you through connecting, funding, and placing your first trade.
What you'll need
Before you begin, make sure you have the following:
- A Web3 wallet -- MetaMask, Rabby, or any wallet that supports EVM-compatible chains.
- USDC -- This is the sole collateral asset on Gryps. You can hold USDC on SEI already, or on any major chain (Ethereum, Arbitrum, Base, etc.) and bridge it in-platform.
- A small amount of SEI -- For gas fees on the SEI network. Gas costs on SEI are minimal.
:::tip New to SEI? You don't need to configure anything manually. Gryps will prompt you to add the SEI network to your wallet automatically when you connect. :::
1. Connect your wallet
Go to app.gryps.finance and click Connect Wallet in the top right corner.
Select your wallet provider from the list. If SEI is not yet added to your wallet, Gryps will prompt you to approve the network addition -- confirm it, and you're connected.
Once connected, you'll see your wallet address in the top right and your current USDC balance on SEI.
2. Bridge funds to SEI
If your USDC is on another chain, you can bridge it to SEI without leaving the platform. Gryps integrates the LiFi bridge directly into the interface.
- 01
Click the bridge icon in the navigation bar.
- 02
Select your source chain (Ethereum, Arbitrum, Base, Polygon, etc.).
- 03
Enter the amount of USDC you want to bridge.
- 04
Review the route and estimated fees, then click Confirm.
- 05
Approve the transaction in your wallet.
Bridging typically takes 1 to 5 minutes depending on the source chain. You'll see the funds appear in your SEI wallet balance once the transfer completes.
:::note If you already hold USDC on SEI, skip this step and go directly to depositing collateral. :::
3. Deposit collateral
With USDC in your SEI wallet, the next step is depositing it into Gryps as trading collateral.
- 01
Click Deposit in the trading interface.
- 02
Enter the amount of USDC you want to deposit.
- 03
Confirm the transaction in your wallet.
Your deposit goes into a cross-margin account -- meaning your collateral backs all of your open positions collectively, rather than being isolated per trade.
Your funds remain self-custodied. Deposited collateral is held in Symmio's on-chain smart contracts, not in a centralized wallet or custodial account. You retain control and can withdraw at any time.
4. Place your first trade
With collateral deposited, you're ready to trade.
- 01
Select a trading pair from the market list (e.g., BTC/USDC, ETH/USDC).
- 02
Choose your direction -- Long if you expect the price to rise, Short if you expect it to fall.
- 03
Set your position size and leverage. Gryps supports configurable leverage depending on the asset.
- 04
Submit your trade intent. This is where Gryps differs from a traditional order book.
How the RFQ process works
When you submit a trade, your intent is broadcast to Gryps's solver network (powered by Orbs). Solvers -- professional market makers -- compete to fill your order by submitting quotes in a real-time Request for Quote (RFQ) auction. You receive the best available quote, review the price, and accept it. Once accepted, the position opens and settles on-chain.
This model means you're not waiting for passive liquidity on a book. Solvers actively compete to quote you, which translates to tighter spreads on liquid pairs.
5. Manage your position
Once your position is open, you can monitor and manage it from the Portfolio panel at the bottom of the trading interface.
From here, you can:
- View your open positions -- See entry price, current PnL, liquidation price, and margin usage.
- Adjust leverage -- Increase or decrease leverage on an existing position.
- Add or remove margin -- Deposit additional collateral to a position or free up margin.
- Close your position -- Partially or fully close at the current market price.
Each trade on Gryps is a bilateral agreement between you and the solver who filled your order. Positions are isolated at the settlement level -- each one is its own on-chain contract between the two parties, cleared through Symmio.
6. Withdraw your funds
When you want to move collateral back to your wallet:
- 01
Click Withdraw in the trading interface.
- 02
Enter the amount you wish to withdraw.
- 03
Confirm the transaction.
Withdrawals go through a 12-hour fraud-proof window before finalizing. This is a security mechanism built into Symmio's clearing layer -- it protects against invalid or disputed settlements by giving both parties time to raise objections before funds are released.
After the fraud-proof period completes, the USDC is returned to your SEI wallet.
Key concepts
| Term | Meaning |
|---|---|
| RFQ (Request for Quote) | A pricing mechanism where solvers compete to quote your trade, rather than matching against resting orders on a book. |
| Intent-based trading | You submit what you want to trade (direction, size, pair). The protocol finds the best execution through its solver network. |
| Bilateral settlement | Each position is a direct agreement between you and the solver, settled on-chain via Symmio's contracts. |
| Cross-margin | Your deposited collateral backs all open positions collectively. |
| Fraud-proof window | A 12-hour security delay on withdrawals that ensures settlement integrity before funds are released. |
Next steps
Now that you've placed your first trade, explore these resources to go deeper:
- How RFQ Works -- A technical explainer on Gryps's intent-based RFQ architecture, solver competition, and why it produces better execution than traditional order books.
- Bilateral Settlement -- How Symmio's clearing layer works, what the fraud-proof window protects against, and how your funds remain self-custodied throughout.