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Understanding Sub Account
This article will provide you with everything you need to know about subaccounts. JOJOers can create subaccounts to manage their positions more effectively. Subaccounts allow users to separate their positions into different groups, such as by strategy or risk level. This can help users to better track the performance of their positions and make more informed investment decisions. Additionally, subaccounts can be useful for users who want to allow someone else to manage a specific portion of their portfolio.
Users on JOJO can create multiple wallets to achieve sub-account functionality, but managing private keys for different accounts can be cumbersome. To address this issue, we have designed a special contract to act as a trading account, where the user's wallet address is the contract's owner. This design prevents users from changing their wallet address and provides an easy way for other protocols to build on JOJO.
The design of subaccounts is very flexible and is more suitable for experienced traders who need to apply multiple trading strategies, frequently trade multiple currencies, need asset risk isolation, or use asset management services, and for users who have copy trading needs.
- Risk isolation: perfect control of the risk exposure of each trading account.
- Stable profits: Try different trading strategy combinations and trading asset ratios. Switch cross-margin or isolated-margin freely. Find your own holy grail of investment.
- Don‘t trust the service. Verify: Use asset custodian services confidently, view your PnL in real-time, and revoke sub-account authorization anytime, anywhere.
- Customization: Sub-account permissions support team customization, making it easy for teams to manage internal account migrations and support trading volume integration to enjoy team fee discounts.
- Traders need to run multiple trading strategies simultaneously.
- Traders need to trade multiple symbols at the same time.
- Users who need to use asset custodian services.
- Trading teams and agencies that provide asset custodian services.
- 1.If you don't set an operator, your account won't have any operator. You need to register your main account as an operator yourself. If you choose to authorize other traders to manage your sub-accounts, they can use the assets in your sub-account to trade on your behalf and settle with other users on the chain. The profits from the trading and settlement belong to you.
- 2.JOJO provides TP/SL functions that differ from those of centralized exchanges. JOJO is very cautious about your fund management permissions (Yes, TP/SL is also a form of fund management). By enabling the global operator, JOJO can execute TP/SL orders for you at specific prices and agree to close your positions at specific prices. You can enjoy the convenience of TPSL orders.
- 3.You should know that whether you authorize others to manage your trades or authorize JOJO's TP/SL function, no one or group has the right to transfer or withdraw your funds. You have all the permissions of the account you created, and if you want to revoke other traders' usage rights, you only need to cancel the authorization.