# Example and Concepts

## Trading Time

During the Trading Time of Session 1, Bob believes the price of $UN will rise in the coming hours and places a buy order for 100 $UN tokens (at a UN/USDC rate of 1).

Bob's Trade Details:

* **Order Type:** Buy
* **Token Amount:** 100 $UN
* **Price:** 1 USDC
* **Trading Volume:** 100 x 1 = 100 USDC

Collateral required from Bob to open a buy order: 100 x 5% = 5 USDC (Unich Pre-Order OTC requires only 5% of the trade volume as collateral).

Conversely, Alice believes the price of $UN will fall and decides to act as a seller, matching Bob's buy order.

Alice's Trade Details:

* **Order Type:** Sell
* **Token Amount:** 100 $UN
* **Price:** 1 USDC
* **Trading Volume:** 100 x 1= 100 USDC

Collateral required from Alice to fulfill Bob’s buy order: 100 x 5% = 5 USDC.

<figure><img src="/files/HiSQV9APAnZxFa6fXTRr" alt=""><figcaption></figcaption></figure>

## Settlement Time

Bob and Alice wait until 14:00 to settle the trade. (As their order was matched during Session 1, so the Settlement Time will be at 14:00 - 14:30 UTC).

The price of $UN at the start of the Settlement Time determines the trade outcome.

Price fluctuations before this point are irrelevant, so Bob and Alice do not face liquidation risks from short-term market volatility.

* *Case 1: $0.95 < $UN < $1.05*

%ROI for both parties will ranges between: -100% < %ROI < +100%

Since Bob and Alice matched at $UN = 1 USDC.

Bob (Buyer) profits if $1 < $UN < $1.05 (price increases).\
Alice (Seller) profits if $0.95 < $UN < $1 (price decreases).

Both have 30 minutes to settle.

Bob sends the remaining 95 USDC and receives 100 $UN.

Alice sends 100 $UN, recovers her 5 USDC collateral, and receives Bob's 100 USDC payment.

* *Case 2: $UN < $0.95*

Bob's %ROI will be in the range: < -100%

Alice's %ROI will be in the range: > +100%

If Bob settles, he loses more than his 5 USDC collateral, and Alice receives the full %ROI (> +100%).

If Bob does not settle, he loses only his 5 USDC collateral, which is transferred to Alice, resulting in Alice receiving a %ROI = 100%.

* *Case 3: $UN > $1.05*

Bob's %ROI will display in the range: > +100%

Alice's %ROI will display in the range: < -100%\
\
If Alice settles, sheloses more than her 5 USDC collateral, and Bob receives the full %ROI (> +100%).\
\
If Alice does not settle, she loses only her 5 USDC collateral, which is transferred to Bob, resulting in Bob receiving a %ROI = 100%.


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