Trading Time

During the Trading Time, you can freely use USDC as collateral to open buy/sell orders for a token at any price.

Opening an order

Depending on your preference, you can act as a Maker or Taker:

Makers can open buy or sell orders at their desired price. Takers match existing orders on the order book.

Notes: You only need to collateralize 5% of the trade volume to open or match an order. For example: To buy 1 $SOL at $100, you only need to collateralize $5.

As a buyer

To place a buy order, you pay a small fee plus collateral equivalent to 5% of the trade volume. Once your buy order is matched with a seller, you must wait until the Settlement Time to send the remaining 95% of the trade volume to the platform. Meanwhile, the seller must send the committed tokens. If the seller fails to deliver tokens on time, you receive their entire collateral as compensation.

As a seller

To place a sell order, you pay a small fee plus collateral equivalent to 5% of the trade volume. Once your sell order is matched with a buyer, you must prepare to send the committed tokens during the Settlement Time. Upon delivering the tokens, you receive the buyer’s payment and recover your collateral.