Short Tokens allow you to hedge portfolio risk and represent the next step in decentralized trading. A Short Token is a short position wrapped in an Ethereum Token. That means you can gain exposure by merely holding one. On Radar Relay, you can trade Short Tokens directly from your wallet the same as any other ERC20 token. No dealing with lenders, trusting exchanges, or fumbling for orders at close. When you hold a Short Token, your returns depend on the inverse price movement of the underlying token. For sETH/DAI, when the price of ETH goes down, sETH price goes up. A stable coin – tied to the US dollar – is used to fund, buy, and sell the short token. Short Tokens are a great way to gain upside in a down market or hedge loss on a significant position in your portfolio. A Short Token position opened via the dYdX Protocol lasts 28 days. During that time, tokens can be minted and traded freely. At the end of 28 days, the Short Tokens expire and lock to the market price. Short Tokens can also be margin called before expiration if the price moves significantly against the token. Every Short Token is labeled by asset being shorted and expiration: sETH 6/15, sETH 6/30.