Getting Started

Overview

Those wishing to interact with the Sumero protocol will need to have both Ether (ETH) and USDC available in their respective Web3 wallet. You can purchase both of these cryptocurrencies using a cryptocurrency exchange. Ether is the Ethereum blockchain's native currency and it is required to pay for gas fees, which are also known as transaction fees. The USDC stablecoin is needed to mint synthetic assets using the Sumero protocol as it is the only form of collateral that is accepted. You will also need to install a Web3 wallet (We recommend installing Metamask) in your browser and send your ETH and USDC from whichever exchange you bought it on to this wallet address. You must then connect your wallet to the Sumero Dapp in order to interact with it.

Please note that Ethereum is still a relatively nascent technology and very much a work in progress in terms of scaling to meet increasing user demand. As a consequence, transaction fees can be very prohibitive at times. If you are not a regular trader, it is recommended to choose a strategy that involves as few Ethereum transactions as possible.

MetaMask is a target for phishing attacks. Phishing is a way of stealing your credentials, by tricking you into downloading a malicious version of the app you want to download. A common tactic for phishers is to purchase domain names of common misspellings - hoping you make a mistake typing the URL.

When installing MetaMask, make sure you use the official MetaMask website. Verify the closed lock to the left of the URL. This signifies you are connected through SSL - an encrypted connection. SSL encrypts data in transit and prevents attacks like phishing, and man-in-the-middle attacks. If you do not see the closed lock, exit the page immediately.