✅ Android
⚠️ iOS
| ➖ | ✅ | ✅ | | Hardware wallet compatible | ➖ | ✅ | ➖ | 🔶 | | Open source (auditability) | ✅ | ✅ | ✅ | ➖ | |Interact with BscScan
(for advanced users!)
| ➖ | ✅ | ➖ | ➖ | ⚠️ Requires some setup\ 🔶 Only supports SafePal hardware wallet You can find more in-depth information about each wallet below, as well as download links and installation guides. {% tabs %} {% tab title="Trust Wallet" %}  Trust Wallet is a popular wallet for smart devices. It supports DApps, NFT collectibles (with Opensea.io support), and in-wallet staking. **Pros:**\ \- Open source for auditability\ \- Backed by the Binance cryptocurrency exchange\ \- Easily switch between several crypto networks\ \- Includes networks by default\ \- Includes in-wallet staking options\ \- Has additional features such as NFT collection, BNB staking, and DApp access within the wallet**Cons:**\ \- Language tied to phone settings\ \- Limited DApps\ \- Transaction notifications can be delayed [**Download Trust Wallet**](https://trustwallet.com/) (Automatically detects device)[\ **Trust Wallet Setup Guide**](https://www.binance.com/en/blog/421499824684901157/How-to-Set-Up-and-Use-Trust-Wallet-for-Binance-Smart-Chain) {% endtab %} {% tab title="MetaMask" %}  MetaMask is a very popular browser-based wallet plugin that supports ERC20 (Ethereum network) and BEP2 & BEP20 (Binance Chain and Binance Smart Chain networks). **Pros:**\ \- Open source for auditability\ \- WEB3 capable on BscScan\ \- A strong history of security and reliability\ \- A large amount of how-to guides and resources online\ \- Many tools and custom settings\ \- Offers ETH purchases with Transak\ \- Supports a very large number of languages\ \- Is also available a browser plugin for desktop devices **Cons:**\ \- Longer setup time than other options\ \- Additional steps needed to use with Binance Smart Chain and PancakeSwap\ \- Extra information and settings may confuse beginners [**Download MetaMask**](https://metamask.io/download.html) (Automatically detects device)\ [**MetaMask Setup Guide**](https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain) {% endtab %} {% tab title="Token Pocket" %}  Token Pocket is a cryptocurrency management app that natively supports many cryptocurrency networks. It also has a desktop application available. **Pros:**\ \- Open source for auditability\ \- Allows users to easily switch between many crypto networks\ \- Supports many networks by default\ \- A less cramped user experience than browser plugin wallets \ \- Is also available as desktop software devices **Cons:**\ \- Only supports Chinese and English languages\ \- Has some issues with the English translation\ \- Has fewer online resources than more established wallets [**Download Token Pocket App**](https://www.tokenpocket.pro/en/download/app) (Automatically detects device) ### **Token Pocket Mobile Setup Guide** 1\. Visit the Token Pocket website and tap **Mobile**.  2\. Your device will be automatically detected. Tap the **Google Play** or **App Store** button and install the Token Pocket app. 3\. Once Token Pocket is installed, open it. You’ll be met by a screen asking whether you have an existing wallet or would like to create a new one. Tap **No accounts, Create Now**.\ \ If you do have an existing wallet to import, use the top option instead.  4\. On the next page, find **Binance Smart Chain** in the list and tap it.  5\. Next, on the “Create way” page, tap **Create Wallet**.  6\. You’ll be asked to enter a password. For your security, make sure your password is judged as “Strong”. You can also add a hint, but make sure it’s something only you will understand. When you’re ready, tap **Create Wallet**. And that’s it, all done!\ \ To connect to Binance Smart Chain and use PancakeSwap, you can follow the TokenPocket section of our Connect Your Wallet to PancakeSwap guide
Interact with BscScan
(for advanced users!)
| ✅ | ➖ | ➖ | ⚠️ Requires additional setup You can find more in-depth information about each wallet below, as well as download links and installation guides. {% tabs %} {% tab title="MetaMask" %}  MetaMask is a very popular browser-based wallet plugin that supports ERC20 (Ethereum network) by default, and BEP2 & BEP20 (Binance Chain and Binance Smart Chain networks) with a little work. **Pros:**\ \- Open source for auditability\ \- WEB3 capable on BscScan\ \- A strong history of security and reliability\ \- A large amount of how-to guides and resources online\ \- Many tools and custom settings\ \- Supports a very large number of languages\ \- Is also available on mobile devices **Cons:**\ \- Longer setup time than other options\ \- Additional steps needed to use with Binance Smart Chain and PancakeSwap\ \- Extra information and settings may confuse beginners [**Download MetaMask**](https://metamask.io/download.html) (Automatically detects browser)\ [**MetaMask Setup Guide**](https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain) {% endtab %} {% tab title="Binance Wallet" %}  Binance Wallet is a browser-plugin wallet that natively supports the Binance Chain (BEP2) Binance Smart Chain (BEP20) networks. Binance Wallet was developed by the Binance cryptocurrency exchange. **Pros:**\ \- Open source for auditability\ \- Backed by the Binance cryptocurrency exchange\ \- Can be directly linked to a Binance or Gmail account\ \- A streamlined user experience\ \- Supports Binance Smart Chain by default\ \- Supports a large number of languages\ \- Hardware wallet compatible **Cons:**\ \- Lacks some custom settings of other wallets\ \- Lack of additional tools makes some actions available in other wallets impossible\ \- Has fewer online resources than more established wallets [**Download Binance Wallet**](https://www.binance.org/en) (Automatically detects browser)\ [**Binance Wallet Setup Guide**](https://docs.binance.org/smart-chain/wallet/binance.html) {% endtab %} {% tab title="Token Pocket" %}  Token Pocket is a standalone application available for both Mac OS and Win64 devices. Token Pocket allows you to manage your cryptocurrency in software independent of your browser. **Pros:**\ \- Open source for auditability\ \- Independent of your browser and any of its permissions\ \- Allows users to easily switch between many crypto networks\ \- Supports many networks by default\ \- A less cramped user experience than browser plugin wallets \ \- Is also available on mobile devices **Cons:**\ \- Asks users to enter their private key as part of desktop setup process\ \- Only supports Chinese and English languages\ \- Has some issues with the English translation\ \- Has fewer online resources than more established wallets [**Download Token Pocket Desktop Wallet**](https://www.tokenpocket.pro/en/download/pc) (MacOS or Win64) ### **Token Pocket Desktop Setup Guide** The desktop version of Token Pocket will ask you to import a private key. Please make sure you’re familiar with and understand the importance of a private key before you proceed.Token Pocket is an open source project, so the code is publicly visible and generally considered safe. Even so, your private keys are your responsibility, so only use them with applications you trust and can verify. 1\. Visit the Token Pocket website on your PC and click the **Desktop** button.  2\. On the next page, click the button for your operating system and wait for your download to finish. This guide uses Windows, but the process is largely the same on Mac OS.  3\. Run the installation file. It will ask you to choose between making Token Pocket available to everyone using the computer, or just the current user. For your security, we recommend current user only.  4\. Enter a destination folder to install to and click **Install**.  5\. Once the installation is finished, click **Finish** and run Token Pocket. 6\. When Token Pocket opens, you may find yourself looking at a Chinese interface. You can change to English by clicking EN in the bottom-left corner.  7\. Token Pocket will be asking you to create a password. Make sure you use something that’s hard to guess; the longer the password is, the more secure. When you’re done, click **Confirm**.  8\. On the next page, Token Pocket will be asking you to import a private key. This may be intimidating, but Token Pocket will work as an interface for your existing wallet. You’ll need to get your private from whatever existing wallet you want to use.\ \ Here is a [guide for getting your private key from MetaMask](https://metamask.zendesk.com/hc/en-us/articles/360015289632-How-to-Export-an-Account-Private-Key). To import your private key from the mobile version of Token Pocket, see the Mobile Token Pocket tab higher up this page. If you use another wallet and don’t know how to get your private key, you’ll need to find a guide. {% hint style="warning" %} Please be extremely careful with how you handle your private keys. Giving your private keys to someone will give them full access to your coins! Token Pocket is an open source project and will use your private key to import your wallet. Even so, only use your private key with applications you trust and can verify are legitimate! {% endhint %}  9\. Once you’ve entered your private key, click the **Ethereum** network for now.  And that’s it, all done! You can follow our [Connect Your Wallet to PancakeSwap guide](https://docs.pancakeswap.finance/get-started/connection-guide) to connect to Binance Smart Chain and PancakeSwap. {% endtab %} {% endtabs %} {% hint style="danger" %} **NEVER, in any situation, should you ever give someone your private key or recovery phrase ("seed phrase"). This will give someone complete access to your crypto!**\ \ **Position Exchange site and team members will never ask you to input your seed phrase.** {% endhint %} # Get BEP20 Tokens The native tokens of Binance Smart Chain (BSC) are **BEP20**. To do most things on BSC, you will need to pay gas, which comes in the form of BEP20 BNB. You will also need the BEP20 version of any token you want to trade, stake etc. on BSC. You can go a few ways about converting your tokens to BEP20, but here are the ones we recommend: {% tabs %} {% tab title="🔒 SafePal" %} [**SafePal** ](https://safepal.io/download) - You don't need an account, or to register etc. Execute cross-chain swaps directly from your wallet. 📖 [Here's a quick guide they made to help you out.](https://docs.safepal.io/safepal-app/cross-chain-swap-tutorial) {% endtab %} {% endtabs %} {% tabs %} {% tab title="🌉 Binance Bridge" %} [**Binance Bridge**](https://www.binance.org/en/bridge) - You don't need an account, or to register etc. 📖 [Here's a quick guide they made to help you out.](https://docs.binance.org/smart-chain/guides/bridge-v2.html) {% endtab %} {% endtabs %} {% tabs %} {% tab title="💰 Binance.com" %} [**Binance.com**](https://docs.position.exchange/get-started/www.binance.com) - You can withdraw tokens as BEP20 via your Binance account (if you have one). Bear in mind you need an account to do so. 📖 [Here's a quick guide they made to help you out.](https://www.binance.com/en/support/faq/85a1c394ac1d489fb0bfac0ef2fceafd) {% endtab %} {% endtabs %} [
](https://docs.pancakeswap.finance/get-started/wallet-guide) # Business and Partnerships ## Collaboration Pools Collaboration Pools are a way of distributing your tokens to BSC users who stake POSI NFTs in the pool. Position Exchange offers the possibility for other projects to open a Pool in the platform in which users can generate rewards in the partner's native token by staking POSI NFTs.\ \ Position Exchange NFTs is hot and new feature of the project. A guide to the feature can be found [here.](https://app.gitbook.com/@position/s/position-exchange/~/drafts/-Mhe4lTerRWuq_4LZF-a/products/nfts/how-to-stake-nfts) [Apply to run a Collaboration Pool](https://docs.google.com/forms/d/e/1FAIpQLSfqx79RrX0AFRh-eYEde-fwsHoZv6aGYiTI-rY8uRSgRLuYMw/viewform?usp=sf_link) * Please don't email us to apply - we only respond to applications via the application form. * Please don't chase us for a response on your application. We have a constant backlog of quality projects reaching out to us. ## For other proposals You can send us an email at
# RFI Technology The RFI Technology allows 1% of the transaction to be shared among POSI holders. The more POSI you hold the more your share in the 1% increases. # Buy POSI  You can buy POSI on our website on the [Swap interface](https://app.position.exchange/swap) using BUSD or on PancakeSwap Visit [Swap interface](https://app.position.exchange/swap):  1. Click on **Unlock Wallet** 2. Click on **Approve** If it is the first time you use the interface  3\. Click on **Add POSI to wallet**  4\. You can Customize settings if wished (Optional)  5\. Select your desired amount and click on **Swap.**  6\. You will then see the transaction preview. Click **Confirm Swap.** [ ](https://app.position.exchange/swap) # POSI Tokenomics  A crypto project without solid and sustainable Tokenomics is more likely to be disorganized and purposeless, because tokens serve two crucial primary functions: Capturing the value and incentivizing the growth. The Position Exchange's team is designing and will always design future token economy models with these key ideas in mind. Position Exchange will be running highly cost-effective incentive programs and initiatives to help facilitate and ensure the continuous growth of the platform and the POSI community. In the meantime, the POSI token will be the perfect vehicle for encapsulating and representing the value of the Position Exchange’s economy and ecosystem, and the collective value of the platform will be shared equitably and very generously with our loyal supporters. As outlined in Position Exchange's token distribution, 80% of the POSI total token supply is reserved for the community. This is a substantial proportion and amount of tokens and it is hard to plan out all the incentive programs at first. As our platform continues to grow and users number to increase and more product features mature, the subject of value encapsulation will become more challenging . This is why the Position Exchange's design is open to constructive suggestions and feedback from everyone, as we seek to grow alongside the community. ## **Token distribution**  | Lot | Description | | ----------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Airdrop |
- 1,000,000 POSI tokens (1%)
- Balancer LBP token launch, held September, 2020.
- 80,000,000 POSI tokens (80%)
- The vast majority of the POSI tokens will be dedicated to the community through staking and farming rewards. This is one of the highest shares addressed to the community in the existing protocols!
- 4,000,000 POSI tokens (4%)
- The tokens will be immediately available for the general functioning of the platform.
- 10,000,000 POSI tokens (10%)
- The tokens will NOT be available to the team immediately but will rather be minted over time. Position Exchange’s team will retain a position of 10% of any new minted token ensuring a community driven and fair launch.
- 5,000,000 POSI tokens (5%)
- the tokens will be available for the public sale. The generated funds will be deployed to add Liquidity and support the Marketing strategy of Position Exchange.
**Benefits of Trading on Position Exchange:** * Highly Intuitive: Experience speed on our protocol. Trade quickly on an easy-to-use platform. * Increased Privacy: No sign-ups required: Simply connect your wallet and you are all set. * More Security: Trade directly with no intermediaries. More autonomy in a decentralized environment. * Low fees: Experience low gas fees on transactions * Easy access: Trade directly from your wallet without the need of depositing. A detailed guide can be found here: [**Perpetual basics**](/products/trading-protocol/position-exchange-protocol-and-vamm)\ [**Beginner's guide**](/products/trading-protocol/beginners-guide)\ \ You can find more details about Perpetual Trading [**here**](https://academy.binance.com/en/articles/what-are-perpetual-futures-contracts)**.** # Perpetuals basics Perpetuals, or Perps, short for perpetual futures contracts, are derivatives for trading the underlying asset with no future expiration date. It allows users to trade on margin (trade using borrowed funds). To give an example: Instead of needing a large capital to trade a notional value of an underlying asset, users can leverage their capital but just depositing a part of the notional margin. Users can trade Perpetuals by buying (long) or selling (short) perpetual, which is very important under the current market volatility. In other words, users are using borrowed funds to bet on the future price of an asset. Position Exchange will offer a wide selection of tradable assets to its users, allowing them to trade contracts and get pay-offs without actually owning the assets. You can find more details about Perpetual Trading [**here**](https://academy.binance.com/en/articles/what-are-perpetual-futures-contracts)**.** * [Why Can't I Place a Futures Order?](/products/trading-protocol/position-exchange-protocol-and-vamm/why-cant-i-place-a-futures-order) * [Leverage for Perpetual Futures Contracts](/products/trading-protocol/position-exchange-protocol-and-vamm/leverage-for-perpetual-futures-contracts) * [Order Types](/products/trading-protocol/position-exchange-protocol-and-vamm/order-type) * [Mark Price in Perpetual Futures Contracts](/products/trading-protocol/position-exchange-protocol-and-vamm/mark-price-in-perpetual-futures-contracts) * [Perpetual Futures Contract Specifications](/products/trading-protocol/leverage) # Why Can't I Place a Futures Order? When trading perpetual futures, you may find that your order sometimes fails to be placed or doesn't get filled. Below are some potential reasons for this. **Order cannot be placed:** * **Insufficient margin**: You may need to add extra margin to open an order if you have other open orders using your available margin or if the order quantity is too high. The lower the leverage multiplier, the more margin you'll need. You can try raising the leverage multiplier to fix this issue.
* **Smart contract limits:** In this version of the smart contracts and limitations of the EVM: * When a limit order is waiting to be filled, users cannot open a limit/market order with the side opposite to the current limit order (open multiple orders in the same direction are allowed). Eg. Bob opens a limit long order, Bob cannot open a short order unless he cancels the first one. (Bob is free to open more long orders) * Cannot open a reverse position with the opening position. Eg. Bob shorts a position with 5 BTC. Bob cannot open a market long position with a quantity of 10 BTC. Bob needs close his current position first. * **Position limits**: The reverse position quantity may be too high, which causes insufficient margin in relation to net exposure. The maximum position size varies based on leverage.
* **Insufficient contract quantity**: Different types of contracts have different minimum order quantities. You can learn more by reading the [Perpetual Futures Contract Specifications.](/products/trading-protocol/leverage) **Order was not filled:** * **No matching price:** The market price has not reached the price that was set for your order. Stop-limit orders are added to the order book when the market price reaches the trigger price, but the market price has to reach the order price before it will be filled. * **Large deviation from the market price:** There are no orders in the order book that match the price that was set for your order. Very large orders may be only partially filled. # Order type **Limit Order** A limit order lets you place an order at a specific price or a more favorable price. However, there's no guarantee that a limit order will be filled. Limit buy orders are executed if the price of the asset hits the limit price or falls below that price. Limit sell orders are executed if the price of the asset hits the limit price or rises above that price. **Market Order** A market order is a buy or sell order that gets filled right away at the best price currently available on the market. Market orders require liquidity to be filled, which means that the order is executed based on the limit orders that were previously placed on the order book. **Stop-Limit Order** In development **Stop-Market Order** In development # Leverage for Perpetual Futures Contracts Leverage refers to using borrowed capital to trade cryptocurrencies or other financial assets. It amplifies your buying or selling power so you can trade with more capital than what you currently have in your wallet. Depending on the crypto exchange you trade on, you could borrow up to 120 times your account balance. The amount of leverage is described as a ratio, such as 1:5 (5x), 1:10 (10x), or 1:20 (20x). It shows how many times your initial capital is multiplied. For example, imagine that you have $100 in your exchange account but want to open a position worth $1,000 in bitcoin (BTC). With a 10x leverage, your $100 will have the same buying power as $1,000. You can use leverage to trade different crypto derivatives. # Mark Price in Perpetual Futures Contracts The way the Mark Price is calculated is closely correlated with the funding rate and vice versa. We strongly recommend that you carefully read the two articles on "Mark Price" and "Funding Rate" to gain a full understanding of how the Futures trading system works. As Unrealized PnL is the primary driver of liquidations, it's important to ensure that Unrealized PnL is accurately calculated in order to avoid unnecessary liquidations. The core basis of a Perpetual Contract is the intrinsic or "true" value of the Contract. The “Price Index,” which is the primary component of the Mark Price, is an average of the prices on the major mainstream markets. The Price Index is a composite index derived from a basket of prices from various major Spot Market exchanges, weighted by their respective trading volumes. Referenced trading markets include: ***Binance, Huobi, Bittrex, HitBTC, Gate.io, Bitmax, Poloniex, FTX, and MXC.*** As Position Exchange's Perpetual Trading Protocol is running fully on chain. We're using the mark price source from Chainlink, because it is currently the most battle-tested Oracle solution on the market. # Funding rates Periodic funding payments are the most common mechanism used by exchanges to do perpetual swaps. Funding payments act to converge the **mark price** (the price on Position Perpetual Trading Protocol) and the **index price** (the average price from major exchanges - Chainlink price). Position Perpetual Trading Protocol calculates funding payments every hour. Position Perpetual Trading Protocol follows [FTX's method](https://help.ftx.com/hc/en-us/articles/360027946571-Funding) to calculate the funding payments, which is as follows: $$ fundingPayment = positionSize \* fundingRate $$ The *fundingRate* in the formula above is calculated by, firstly, subtracting the *hourly time-weighted average price (TWAP) of the index price* from the *hourly TWAP of the mark price*, and secondly, dividing the result from the previous step by 24. (Note: FTX's formula results in funding denominated in *position size*, whereas our calculation expresses funding in *quote asset*, ie. USDC.) $$ fundingRate = {TWAP\_{perpetual} - TWAP\_{index} \over 24} $$ We use the price feed from **Chainlink** as the data source for the index price because it is currently the most battle-tested Oracle solution on the market. Other oracles will be added as needed. If the *fundingRate* is positive, long position holders need to **pay** the funding payment while short position holders will **receive** the funding payment, and vice versa if the rate is negative. The funding payment happens at the **end of each hour** on Position Exchange's Perpetual Trading Protocol. ## # Beginner's guide New to Perpetual Trading? Check out the following guide. [Connect your Wallet](/products/trading-protocol/beginners-guide/connect-your-wallet) [Open Position](/products/trading-protocol/beginners-guide/open-position) [Adjust Margin](/products/trading-protocol/beginners-guide/adjust-margin) [Set TP/SL](/products/trading-protocol/beginners-guide/set-tp-sl) [Close Position](/products/trading-protocol/beginners-guide/close-position) [Position Exchange's Futures Transaction Fees](/products/trading-protocol/beginners-guide/position-exchanges-futures-transaction-fees) [How to adjust the Leverage](/products/trading-protocol/beginners-guide/how-to-adjust-the-leverage) [Funding rate](/products/trading-protocol/beginners-guide/funding-rate) [Crypto Perpetuals](/products/trading-protocol/beginners-guide/crypto-perpetuals) # Connect your Wallet ### 1. Click **Connect Wallet** on the top right side.  ### 2. Chose the Network "BNB Smart Chain"
# Open Market Order A market order is an order to buy or sell assets at the market's current best available price. Market orders are optimal when the primary goal is to execute the trade immediately. **Step 1:** Navigate to tab [Derivatives](https://futures.position.exchange/USD-M/BTC/BUSD) and Select tab BUSD-M or COIN-M * COIN-M Perpetual contract is settled in Cryptocurrency * BUSD-M Perpetual contract is settled in BUSD
# Adjust Margin How to adjust margin of a position Margin is the part of the total value of the specified commodity future bought or sold that the buyer or seller of a futures contract is required to deposit. {% content-ref url="/pages/DWcAAdC84cQGZxVlHLOa" %} [Add Margin](/products/trading-protocol/beginners-guide/adjust-margin/add-margin) {% endcontent-ref %} {% content-ref url="/pages/8dhKQ9cUN5sdGTPdI3F0" %} [Remove Margin](/products/trading-protocol/beginners-guide/adjust-margin/remove-margin) {% endcontent-ref %} # Add Margin The margin ratio is calculated as maintenance margin divided by margin balance. To avoid liquidation, you need to pay close attention to your margin ratio. When the margin ratio is greater than or equal to 80%, you should add more margin to reduce your risk of getting liquidated. **Step 1:** Click the Edit button next to the margin to adjust margin
# Remove Margin **Step 1:** Click the Edit button next to the margin to adjust margin
{% content-ref url="/pages/Y5laJd6FP4CsMRKUbm2u" %} [Close Market](/products/trading-protocol/beginners-guide/close-position/close-market) {% endcontent-ref %} {% content-ref url="/pages/NjfLE1jw12wplbUz68Vk" %} [Close Limit](/products/trading-protocol/beginners-guide/close-position/close-limit) {% endcontent-ref %} # Close Market A market close is instant, and you close the position at the best available spot price. Here’s the guideline to close a position by market order **Step 1:** Choose the quantity you want to close * Choose the percentage of quantity in your intention of closing (10%, 25%, 50%, 75%,100%).
| Reverted Message | Reason | Resolve Steps |
|---|---|---|
| 3 | Invalid Quantity (May exceed min quantity) |
|
| 4 | The leverage of the increasing orders is lower than the leverage of the opening position | Try again with the leverage >= leverage of the opening position or close the position before trying to increase the leverage |
| 5 | The reduce quantity > opening position quantity | Our Smart contracts now only support “Reduce only” orders, which means the quantity of the reverse order must be less than or equal to the quantity of your opening position. If you enter a higher quantity, you will receive an error 5. Please make sure to stick to the required quantity limit. |
| 6 | Attempts to claim funds but the opening position is not closed. |
|
| 8 | Trying to remove margin on non-exist positions. | |
| 9 | Trying to add margin on non-exist positions. | |
| 10 | Invalid initial margin | |
| 11 | Insufficient liquidity |
|
| 12 | Invalid remove margin |
|
| 18 | Order quantity = 0 | Try to open the order with quantity != 0 |
| 20, 21 | Invalid cancel order | This error may happen if the website is lagging or try to reload the website/mobile apps |
| 22.1 | Try to open long orders when having active limit shorts. |
|
| 22.2 | Try to open short orders when having active limit longs. |
|
| 24.1 | Exceeds max short price | Try to set the limit price > max short price |
| 24.2 | Exceeds max Long price | Try to set the limit price < max long price |
| 25 | Exceeds max slippage | Try to use a smaller quantity |
| 26 | Exceeds max notional | Try to use a smaller quantity |
| 32 | Immediately trigger TP, SL | |
| 42 | An Internal error in the processing chain |
|
| 43 | An Internal error in the processing chain |
|
| 51 | An internal error in the relayer |
|
| Referees’ notional value per transaction | Commission received by referrers |
|---|---|
| 10 BUSD <Notional Value<= 100 BUSD | 0.0005 BUSD |
| 100 BUSD <Notional Value<= 1.000 BUSD | 0.01 BUSD |
| 1.000 BUSD <Notional Value<= 3.000 BUSD | 0.1 BUSD |
| 3.000 BUSD <Notional Value<= 5.000 BUSD | 0.3 BUSD |
| 5.000 BUSD <Notional Value<= 10.000 BUSD | 0.5 BUSD |
| 10.000 BUSD <Notional Value<= 50.000 BUSD | 1 BUSD |
| 50.000 BUSD <Notional Value<= 200.000 BUSD | 15 BUSD |
| 200.000 BUSD <Notional Value<= 500.000 BUSD | 60 BUSD |
| 500.000 BUSD <Notional Value<= 1.000.000 BUSD | 150 BUSD |
| 1.000.000 BUSD <Notional Value<= 10.000.000 BUSD | 500 BUSD |
| 10.000.000 BUSD <Notional Value<= 100.000.000 BUSD | 1500 BUSD |
# Futures Referral for Referee A new user who is invited by an active user is called a referee. ### How do I join Futures as a referee? **Step 1:** Click the referral link or enter the referral code * You can access BUSD-M Futures via the referral link which you receive from your friend. * You can also enter your friend's referral code on the Futures referral page or when you enable trading. Click on “**Enter referral code & get 10 BUSD**”
| Volume/Notional (BUSD) | Pay by BUSD Bonus (Discounted) | Pay in BUSD |
|---|---|---|
| <= 500 BUSD | 90% * Min(Bonus Balance, Initial Margin) | Remaining Margin + Maker/Taker Fee |
| <= 1,000 BUSD | 70% * Min(Bonus Balance, Initial Margin) | Remaining Margin + Maker/Taker Fee |
| <= 10,000 BUSD | 50% * Min(Bonus Balance, Initial Margin) | Remaining Margin + Maker/Taker Fee |
| <= 20,000 BUSD | 30% * Min(Bonus Balance, Initial Margin) | Remaining Margin + Maker/Taker Fee |
| < 30,000 BUSD | 20% * Min(Bonus Balance, Initial Margin) | Remaining Margin + Maker/Taker Fee |
| >= 30,000 BUSD | 10% * Min(Bonus Balance, Initial Margin) | Remaining Margin + Maker/Taker Fee |
# Futures Task Complete Futures tasks and achieve attractive rewards! ### What Is Futures Task? Futures task is a list of tasks that users must complete to receive rewards. **1. Referral task** Refer your friends and receive 3 BUSD Bonus when your referee opens the first position with a volume of at least 100 BUSD and holds for at least 30 minutes. In case you want to know more about Futures Referral, access our [Future Referral Guideline for Referrer](/products/trading-protocol/futures-referral/futures-referral-for-referrer) **2. Open The First Position task** Open positions with an accumulated volume from 1000 BUSD and hold for at least 30 minutes to receive 5 BUSD Bonus. In case you want to know more about How to open a position on Position Exchange Futures, access our [Open Position Guideline](/products/trading-protocol/beginners-guide/open-position). {% hint style="info" %} * You can open either a single order valued at 1000 BUSD or several orders until the total volume accumulated reaches 1000 BUSD. There will be a process bar updating the accumulated value of your positions. * The position must be held in not less than 30 minutes. In case, you do not maintain as the rule, the transaction will be not counted as valid. * Using BUSD bonus to open positions is not counted as valid in this program {% endhint %} ### Futures Task Rewards **Reward:** * Referral task: 3 BUSD Bonus * Open the first Position task: 5 BUSD Bonus **When can I receive rewards?**\ As you finish the task, rewards will be transferred to your wallet immediately. **Which currency is the reward?**\ You will be awarded in BUSD bonus. {% hint style="info" %} BUSD Bonus is only used for trading on Position Exchange and can not be withdrawn into your wallet. However, you can claim the profit of the position that you open in BUSD bonus. Learn more about [BUSD Bonus](/products/trading-protocol/futures-referral/futures-referral-for-referee#what-is-busd-bonus). {% endhint %} ### FAQs **Can I do the task many times?**\ You can do a task only one time. **Can I use BUSD Bonus to open positions to receive a reward?**\ You can only use BUSD to finish the task. BUSD Bonus is not accepted for this task. **Where can I view my Futures task list?**\ On the [Futures](https://position.exchange/futures/USD-M/BTC/BUSD) interface, click on the Futures Task section, and a pop-up will show you the details and the process status of your futures tasks.
# DEX 2.0 # Spot Trade 2.0 User Guideline Enhance DEX experience with CEX-like features. ### Spot Trade 2.0 Guideline Spot trading is one of the safest ways of investing. Compared to other types of trading, spot trading is relatively simple and can be done by anyone with basic market knowledge. Spot trading is also a good way to hedge against future price fluctuations in the underlying asset. Think the price of a crypto is about to go to the moon? You can use a spot market to buy. Think a crypto is about to tank? Head to a spot exchange and sell. Let’s start! ### Order types on Position Exchange Trade #### Market order A market order is an instant kind of order which is executed at the current market price as quickly as possible when you place the order. You can use it to place both buy and sell orders. For example, if you want to buy a certain quantity of USDT with a certain amount of BUSD instantly, you can place a market order to buy, which means that you agreed to buy it with the recent market price. #### Limit order A limit order is an order that you place on the order book with a specific limit price. It will not be executed immediately like a market order. Instead, the limit order is only filled if the market price reaches your limit price (or better). Therefore, limit orders are useful to buy at a lower price or sell at a higher price than the current market price. For example, you place a limit order to sell PTX/POSI at the price of 1, and the current PTX/POSI price is 0.8. Your limit order will be filled when the market price of 1 PTX/POSI is 1 or more. Similarly, if you place a limit order to buy PTX/POSI at the price of 1, and the current PTX/POSI price is 1.5. Your limit order will be filled when the market price of 1 PTX/POSI is 1 or lower. ### How to place orders on Trade? #### Step 1: Visit Trade tab on Position Exchange and connect your wallet
# DEX Airdrop Referral Rules ### General Rules * A successful referral is counted when your friends join Position Exchange DEX Airdrop by your referral link/ code and sign to confirm you as their referrer. * Each user has only one referral link/code. Each link/ code is unique and cannot be modified. * A single wallet address can only be the referee of one other wallet address. * Once the referral relationship has been established, it cannot be changed. * There’s no limit on the number of your referees. You can simply increase your earnings by having more friends join Position Exchange. * If you invite a user who has previously been another user’s referee, the invitation will be invalid. In other words, the invitee will be ineligible to become your referee in this program. * Please note that you will be able to claim the rewards following the Rewards Distribution Schedule, after June 12th, at 00:00 UTC+0. You can only claim your rewards after the aforementioned date and time. * The referrer’s commission is based on all of their referee’s **unrealized earnings** from Position Exchange Airdrop campaigns (Liquidity Provider, Early Birds, Pancake Migration, Lucky Fee, Task Bounty, DEX Referral). Formula: Referrers’ commission = 10% \* (Referees’ unrealized earnings). ### Referral Rewards Calculation * When you refer 2 friends, namely friend A and friend B to Position Exchange DEX Airdrop and your referral relationships are established once they sign to confirm you as their referrer. * Referee A joined the Liquidity and Pancake Migration campaign and got rewarded with unrealized earnings of 50 POSI. Meanwhile, referee B gets 100 POSI by participating in the Lucky Fee campaign and 50 POSI by joining the Liquidity Provider campaign. \=> The total unrealized earnings of your referees (A and B) are: 50 + 100 + 50 = 200 POSI. \=> The amount of unrealized commission you can receive is: 10%\*(200 POSI) =20 POSI * The estimated earnings will be recalculated if your referees’ rewards change during the airdrop. For example, in the Liquidity and Pancake Migration Airdrop, the rewards will change when one adjusts the amount of added liquidity. Example: When referee A’s rewards from the Liquidity and Pancake Migration campaigns decrease from 50 POSI to 25 POSI → your unrealized commission will be: 10%\*(25+100+50) = 17.5 POSI Please note that after the airdrop ends, the unrealized earnings will be converted to realized earnings. ### How to join? #### For referrer **Step 1:** Access [Position Exchange](https://position.exchange/) and connect your wallet. Navigate to the Airdrop Campaign Page. * Choose BNB Smart Chain and choose a wallet option to connect your wallet. Check our guidelines on how to[ create a wallet](https://docs.position.exchange/products/trading-protocol/beginners-guide/connect-your-wallet) and[ connect your wallet here](https://docs.position.exchange/products/trading-protocol/beginners-guide/connect-your-wallet). \  **Step 2:** Invite your friends by link or code. * Your referral link/ code is automatically generated. Copy your link and share with your friends. {% hint style="info" %} Each user has only one referral link/code. Each link/ code is unique and cannot be modified. {% endhint %} * You can now also share your referral link/ code on your social media channels.  **Step 3:** Earn Commissions * The referrer’s commission is based on the referee’s unrealized earnings from Position Exchange airdrop campaigns (Liquidity, Early Birds, Pancake Migration, Lucky Fee, Task Bounty, DEX Referral). * Scroll down to view your total friends referred and your total earnings. * When it’s reward distribution time, click “Claim” to collect your referral commissions from your referee’s realized earnings.  #### For referee **Step 1:** Join Position Exchange by clicking the referral link or entering the code. You can either: * Click on the referral link you received from your referrer to access Position Exchange. Next, connect, or create a wallet if you don’t have one. * Or access [Position Exchange](https://position.exchange/) and create or connect your wallet. Navigate to the Position Exchange campaign page and enter the referral code you’ve been given by your referrer to confirm your referral relationship. 
**Step 2:** Sign to confirm your referral relationship You will receive one signature request. Signing is free and will not trigger any transaction(s).  \
**Step 3:** After the confirmation, join Position Exchange campaigns (Liquidity, Early Birds, Pancake Migration, Lucky Fee, Task Bounty, DEX Referral) to receive attractive rewards. Details about how to participate can be found [here](https://docs.position.exchange/products/dex-2.0/incentives-programs/position-exchange-dex-airdrop-introduction). **NOTE:** * You can only use the referral code once. In other words, the referral code can only be applied once on a single device, regardless of how many wallets the referee has. * You can’t have more than one referrer, but the number of your referee is unlimited. * Tips: Spread the joy by inviting more friends and becoming one’s referrer to keep earning!
# Lucky Fee Lucky Fee Lucky Fee is an incentivized campaign aimed at encouraging users to trade on Position Exchange and increase liquidity. Spin every day and complete the corresponding tasks to earn POSI. Spin to win! ### General Rules: * You will have 4 spins every day * Spins will not be accumulative. When it's time for a new spin, the old, unused spins will be lost (except for the Extra turn). * You must accumulate 200$ of transaction fees from your transactions to claim rewards to your wallet. * Only transaction fees and commission fees derived from swaps, liquidity, trades, and futures will be counted in the total accumulated fees. * The gas fee (in BNB) and commission fee (in BUSD) derived from your transactions will be converted into USD and recorded in the “My Fee History” section. * Once the 200$ of transaction fees is reached, you cannot spin anymore. * At the end of the campaign, if you don’t accumulate enough 200$ of transaction fees, you will be unable to claim rewards. ### How to play * Step 1: Connect wallet * Step 2: Click “Spin” to win rewards in POSI. The prize is now considered unrealized and will be saved in the "Rewards" section. * Step 3: Accumulate transaction fees by performing transactions (swap, liquidity, trade, futures) * Step 4: Claim rewards * You can claim rewards to your wallet when the accumulated transaction fees reach a total of 200$. ### Rewards: * Lucky Fee allows you to spin and receive POSI rewards in your wallets. * The Lucky Spin consists of 8 boxes displaying the following prizes: * 1 POSI * 2 POSI * 5 POSI * 10 POSI * 20 POSI * 30 POSI * Good luck * Extra turn ### Rewards Distribution Timeline {% content-ref url="/pages/J1mMyEz4ZO706q8CLr2w" %} [Reward Distribution Schedule](/products/dex-2.0/incentives-programs/reward-distribution-schedule) {% endcontent-ref %} # How to join Pancake Migrate Airdrop Step 1: Access [Position Exchange](https://www.google.com/url?q=https://position.exchange/\&sa=D\&source=editors\&ust=1677397171692176\&usg=AOvVaw2rHi9q7Ky4eiX-0Uch69F3) and connect your wallet. Navigate to the Airdrop Campaign page. Step 2: Scroll down to the Pancake Migrants Airdrops program section. Click Join Now to start.  Step 3: Read the rules carefully before migrating   Step 4: Migrate Click Migrate button to migrate your liquidity from Pancakeswap to the listed liquidity pools below to Position Exchange.  Only when your LP tokens from Liquidity Pool PancakeSwap exist prior to the start of the campaign, will you be eligible for the migration reward to Position Exchange. Fill in the amount that you want to migrate from PancakeSwap to Position Exchange. Then, click Approve to approve the LP token and confirm the action in your wallet to complete the migration process.  Now you can enter a referral code from your friend to receive more rewards.  The process will take a couple of seconds. To be eligible to earn airdrops, please lock your migrated liquidity in at least 30 days. Step 5: Claim Rewards When the campaign ends and your migrated liquidity is locked in not less than 30 days, you will be able to claim your rewards. Navigate to the My Earnings sections to view your commissions.  Click on the “Claim” button to view Claim Schedule where you can claim your eligible rewards ( the rewards that have met the lock time requirement)  Now you can claim the rewards of valid migrations. Click the Claim button and Confirm the action   Your rewards will be transferred to your wallet address on the POSI Chain. You can click on the Tx Hash for more details of the transactions. Please click on the Contact us button for assistance in case of any error. # How to join the Liquidity Providers Incentive Program Step 1: Access [Position Exchange](https://www.google.com/url?q=https://position.exchange/\&sa=D\&source=editors\&ust=1677397193336656\&usg=AOvVaw1PUTXPfxpDMQAS87kN14k-) and connect your wallet. Navigate to the Airdrop Campaign page.  Step 2: Scroll down to the Liquidity Pool program section. Click Join Now to start.  Step 3: View the rules The interface will switch to the Liquidity pool program page.  Click View Rules to get the rules clearly and be the winners of the game.  Step 4: Add liquidity Now, scroll down to the liquidity pool list  Click Add Liquidity in the pool you prefer to start contributing liquidity. Fill in the amount and confirm the action in your wallet to finish the transaction. Please lock your liquidity NFT in the pool in at least 30 days. The more liquidity you provide, the more reward portion you will share. Step 5: Claim the reward When the campaign ends and your liquidity is locked in not less than 30 days, you can receive your rewards. If you join the campaign in the first 7 days, you can claim the early bird rewards by the following way: Navigate to the My Earnings sections and click Claim to view your rewards.   Now you can claim the rewards of valid liquidity locked in an equivalent time. Click the Claim button and confirm the action.   After the transaction is submitted, your rewards will be transferred to your wallet address on POSI Chain. You can click on the Tx Hash for more details of the transactions. Please click on the Contact us button for assistance in case of any error. For more details, please check the rules HERE carefully not to dismiss any reward! # How to join the Lucky Fee Program Step 1: Access [Position Exchange](https://www.google.com/url?q=https://position.exchange/\&sa=D\&source=editors\&ust=1677397183891397\&usg=AOvVaw2Ru1Il1Z77rqWV2iFbHZ0h) and connect your wallet. Navigate to the Airdrop Campaign page.  Step 2: Scroll down to the Lucky Fee program section. Click Join Now to start.  Step 3: Read the rules carefully and spin the reward wheel  Click the Spin button to try your luck and receive a random presents from 1 to 30 POSI  The prize is now considered unrealized and will be saved in the "Rewards" section. Step 4: Collect transaction fees by performing transactions (swap, liquidity, trade, futures). Step 5: Claim rewards You can claim rewards to your wallet when the accumulated transaction fees reach a total of 200$.  At this time, the Claim button is active. Please click on the Claim button and confirm the action to receive all rewards that you’ve pinned.  Your rewards will be transferred to your wallet address on POSI Chain.  Please click on the Contact us button for assistance in case of any error. # Reward Distribution Schedule We value our community and aim to ensure a fair distribution of rewards. To achieve this, we will unlock the tokens in phases. This is to avoid a large amount of tokens being unlocked all at once, which could potentially impact the token price and disrupt the market. We understand that you may have questions about the reward distribution schedule, and we want to make the process as transparent as possible. Therefore, we have provided a rewards distribution schedule for your reference. You may access it by clicking on the link provided.
1\. Visit the [Liquidity page](https://app.position.exchange/liquidity).  2\. Click the **Add Liquidity** button.  3\. For the top Input, leave POSI as it is.  4\. For the bottom input, click ‘Select a currency’ and pick BUSD.  5\. Enter an amount on one of the tokens under “Input”. The other will calculate automatically.  (If your balance is too low on one pair enter a lower amount.) 6\. Click the **Approve POSI** button if it the first time. Your wallet will ask you to confirm the action.  7\. The **Supply** button will light up. Click it   8\. A window will appear saying how much you will receive. Click the **Confirm Supply** button. Your wallet will ask you to confirm the action.  9\. After a short wait you will see your LP Token balance at the bottom of the page. You can repeat the steps above to add more liquidity at any time. ### **Removing liquidity** To remove liquidity. 1\. Visit the [Liquidity page](https://app.position.exchange/liquidity)**.**  2\. Click on your pair under “Your Liquidity”.  3\. Click **Remove**. A new window will appear.  4\. Use the buttons or slider to choose what percent to remove. Choose **MAX** to remove everything.  5\. Click **Approve**. Your wallet will ask you to confirm the action**.**  6\. The **Remove** button will light up. Click it.  7\. A window will appear saying what you will receive. Click **Confirm**. Your wallet will ask you to confirm the action. 8\. After a short wait you will see your new LP Token balance at the bottom of the page. # Position Bonds (Crypto Bonds) ### What is a Bond? A bond is a fixed-income instrument that represents a loan made by an investor to a borrower (typically corporate or governmental). A bond could be thought of as an I.O.U. between the lender and borrower that includes the details of the loan and its payments. Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations. Owners of bonds are debtholders, or creditors, of the issuer.\ Learn more: [What Is a Bond?](https://www.investopedia.com/terms/b/bond.asp) Position Bonds will work similarly to traditional bonds, but run fully on blockchain and will stackable. How is that? Check this out below. ### The Story behind Position Bonds Position Exchange is a Decentralized Crypto platform aiming to bring different DeFi features under one big projects with its goal to become a hub for Decentralized Crypto Trading and Exchange. As we are focusing on Derivatives Products, Bonds are a great financial instrument that has a stable and predictable income stream and big market demand. Looking at the current DeFi products and projects, there is an abundance of Lending Protocols providing Automatic Pools where lenders and borrowers interact. This design is efficient to ensure there is always liquidity available and funds to borrow. However, the return on investment remains very low. Bonds follow a similar format but provide higher/stable return and is targeted for a bigger market. Users can go from individuals to organization or companies. Bonds also have broader use-cases and purposes, it can be exchanged, used for governance, financing and much more. It is a highly useful financial instrument and integrating it in the Blockchain is game breaking! Position Exchange is introducing its first Derivative Product, the fully on-chain and **stakeable bonds.** Users can purchase bonds and stake it in the Bond Pool with a stable and fix APR for a determined duration and once the bonds reach maturity, the issuer will pay back the investment plus interest. The bonds will be backed by assets as collateral and will be locked in smart contracts. Payment to investor when bonds reach maturity will be ensured and guaranteed by **Position Exchange.** They can also exchange bonds in the “Position Bond Exchange” and even issue their own. Individuals, companies, projects can lock their assets (tokens, coins, NFT or even real estate) as collateral and issue Position Bonds to borrow the money from the investors. Position Exchange is creating a complete feature, providing financial solutions to DeFi users and introducing bonds to blockchain. ### How do Position Bonds work and what does “stakeable” mean? Position Bonds can be stake in the bond Pool with a stable and fixed APR. **Example: (please note that this is just an example)** Position Exchange (issuer) decides to issue bonds: * Issue price: $1.0 * Underlying asset: 500,000 POSI * Face value (par value): $1.2 (Price returns at maturity) * Supply: 1,000,000 units * Duration: 3 years * Stake APR: 250% Imagine **A** — an investor interested in purchasing the bonds with $1,000,000 as investment, the issuer will receive $1,000,000, **A** receives 1,000,000 bond units. Then **A** decided to stake all the bond into to the staking pool to earn with a fixed 250% APR. After 3 years, the issuer must pay back the investor $1,200,000 (face value $1.2) then the issuer can claim the underlying asset, investors can claim the face value from the smart contract. In case of payment default of the face value, the underlying will be distributed among investors. Leveraged by the staking pool, investors now could earn up to 770% YTM (yield to maturity). ### Position Bonds Development User will be able to experience the fully on-chain Crypto Bonds. Issue, Purchase and Earn high yield with Position Bonds. The Bond feature will developed on 3 main phases: **Phase 1:** Position Bonds implementation powered by smart contracts. Purchase and Stake Position Bonds with High & stable returns. **Phase 2:** Bond Exchange. Buy and Sell Bonds easily and fully on-chain on the Bond exchange. **Phase 3:** The Bonds Launchpad. Whether you are an individual, project or companies seeking financing and investment, you can issue your own bonds easily on Position Exchange by applying and providing a collateral. # Position P2P Bond ## What is Position P2P Bond? Position P2P Bonds can be used as a financial instrument, allowing users to borrow assets from other users by issuing Bonds. They’re also integrated on-chain and powered by smart contracts like Position Bonds. Issuers can use P2P Bonds to exchange and earn fixed income from bond interest. Individuals, companies, and projects can raise funds for their businesses and projects by simply locking their assets (tokens, NFTs) as collateral. ## Why Position P2P Bond? * **Risk-free** The issuer will have to mortgage a sufficient amount to ensure the holder does not suffer a loss when holding the bond. * **No process required** No process and approval are required. Easy to raise funds with only 1 step. Issuing P2P bonds is the simplest fund mobilization with flexible loan terms and interest rates. * **Fast and easy fundraising** P2P Bonds allow issuers to raise funds faster and easier since it is **fully on-chain with no intermediaries** and operated in a fully decentralized, trustless, and transparent system powered by smart contracts. * **Safe and stable earning** Holders can claim earnings for P2P Bond safely and stably. Users can choose to hold bonds according to their attractiveness (price, YTM, duration,.. etc.) ## Main phases of Position P2P Bond There are 4 status phases of Position P2P Bond: * **Pending Phase** In this first phase, bonds are pending to be approved and set up. Whether you are an individual, project or company seeking financing and investment, you can issue your own bonds easily on Position Exchange by applying and providing collateral. * **On-sale Phase** Position Bonds implementation powered by smart contracts. Bonds are ready to be purchased. * **Active Phase** Bonds can only be active once sold out or after the "On-sale" phase is over. Bondholders can now Exchange or Stake your bonds which are available on pools with fixed APR. * **Maturity Phase** Once the Bond reaches its maturity date, the issuer will pay back the investment plus interest. Payment to investors when bonds reach maturity will be ensured and guaranteed by Position Exchange. Bond holders can claim back face assets at this point. Bond can be liquidated in the on-sale phase or maturity if its LTV reaches 80% or users can no longer trade it on Bond Exchange # Sale rules ## Sale Rules for Issuer ### Repay rule * Issuers must repay face assets within 7 days before the maturity date. * If the repayment is not completed within 7 days before the maturity date, issuers’ bonds will be liquidated, which means the collateral will be distributed to bondholders. ### Bond maintaining rule * To maintain the bond, issuers should ensure that the LTV is less than or equal to 65%. ### Liquidate rule * The bond will be liquidated when its LTV reaches 80%. * When a bond is liquidated or matured, you can no longer trade it on Bond Exchange. * The system will distribute the issuer’s collateral to the holder as a percentage of holding. ### Claim Assets rule * Issuers are able to claim assets when bonds are bought. * Issuers must pay issue fee when claiming asset. * Use face assets to purchase the bonds with the issue price. * Bonds will be on-sale when it reaches the on-sale phase. * Bonds will be active once sold out or at an active date. Therefore, the maturity date may be sooner than expected. * When bonds are liquidated, you can claim the underlying assets of bond issuers even though it has not reached the maturity date. * In case the issuers do not pay investment plus interest when bonds reach maturity, the bond will be liquidated, and their collaterals will be used for payment to investors. * Exchange your bonds on tab [Exchange](https://position.exchange/bond-exchange/PBOND-002/POSI?type=bond) after bonds are active. * In normal cases, bondholders can claim face assets when the bond reaches maturity. ## Sale rules for holders * Use face assets to purchase bonds * Bonds can be sold when it reaches the on-sale phase * Bonds are only active once sold out or at an active date * Bonds can be liquidated when the price reaches the liquidation price. * In this case, you can claim underlying assets of bond issuers even though it has not reached the maturity date * Exchange your bonds on tab [Exchange](https://position.exchange/bond-exchange/PBOND-002/POSI?type=bond) after bonds are active * In case the issuers do not pay investment plus interest when bonds reach maturity, their collaterals will be used for payment to investors * YTM is the fixed interest rate of a bond that you are guaranteed to receive at the maturity date # User's guide # How to issue a bond 1. Go to the [Bond ](https://position.exchange/bonds)tab and select P2P bond 2. Choose **“Issue Your Bond”**
0 - 5000
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| 1.1+ 0.1\*Productivity/5000 | | **Janitor** | 5000 - 8000 | 1.2+ 0.1\*(Productivity-5000)/3000 | | **Accountant** | 8000 - 9000 | 1.3+ 0.1\*(Productivity-8000)/1000 | | **Engineer** | 9000 - 9800 | 1.4+ 0.2\*(Productivity-9000)/800 | | **Pilot** | 9800 - 9980 | 1.6+ 0.2\*(Productivity-9800)/180 | | **Boss** | 9980 - 10000 | 1.8+ 0.2\*(Productivity-9980)/20 | **Productivity:** Mining productivity\ **Par Value:** The amount of tokens used to cast NFT.\ **Power:** The value of the mining power, calculated by the following formula:\ (Power = POSI Par Value \* Mining Efficiency)\ **Decomposition:** NFTs can be decomposed back into POSI tokens after a certain period of time (25 - 45 days). The higher the level of the NFT card, the more advantages you will be able to receive. ## **What are the use-cases of the NFT cards?** \ Our NFT cards will not be purely cosmetic but will also have several use-cases on the platform itself! The NFTs themselves will be publicly tradable, so you will be able to buy/sell them on our marketplace without any limitations with a plan to include them in other projects' marketplaces as well! The staking of NFTs will be very profitable to users as the APR will be remarkably high. It is also a great tool to stabilize the price of POSI as the NFTs have a decomposition period. Position Exchange NFT feature is still reserving a lot of surprises for the community! A full guide on how to use NFTs and NFT Pool will be released shortly on our Docs Section. Stay Tuned! # How to Cast & Stake NFTs ## Getting prepared. NFT staking takes a little work to get set up. You’re going to need some "NFT Cards" to use in the Pools. NFT Pools can only accept NFT cards for staking. To get the NFT cards, you'll need to cast them first in the [NFT page](https://app.position.exchange/nfts). It may sound intimidating, but it's not too complicated. Let's go through step by step. ## Casting NFTs Go to the [NFT page](https://app.position.exchange/nfts) and connect your wallet. You will be able to see the list of available NFT cards.  Each NFT card has a Productivity and a mining Efficiency. You can see the details by putting the cursor on each card.  To be able to Cast NFT you need to have POSI in your balance.  \ There is no minimum POSI required to get the NFT cards. You can cast NFTs using 1 POSI and also cast NFTs using 5000 POSI, but of course your mining power will be much higher if you use 5000 POSI and you will be able to generate much more rewards.\ \ **For example:**\ \ 1\. You use **1 POSI** to cast NFT and you get strongest card which is the BOSS NFT.\ \ POWER = MINING EFFICIENCY OF THE CARD x POSI par value\ POWER= 180% x 1 = **1,8 POSI** 2\. You use **5000 POSI** to cast NFT and you get the weakest card which is the Farmer NFT\ \ POWER = MINING EFFICIENCY OF THE CARD x POSI par value\ POWER= 110% x 5000 = **5,500 POSI**\ \ **Note that the NFT casting process is totally random and it is not related to the POSI used to cast it.**\ The higher your POSI par value is, the higher your power is.  To cast NFT select the amount of POSI you want to use. (POSI par value) and click **"Cast NFTs"** A pop window will open reminding you that when you cast NFT, your tokens are randomly locked between 25 - 45 days! You can only convert your NFT back to tokens (Decompose) after the lock period is over.  Click on **"Confirm"** to proceed and wait for you Card to be casted!  Congratulations you got your NFT card. In this example we got PILOT NFT which has a Mining Efficiency of **154,06%**\ POWER = MINING EFFICIENCY x POSI par value\ POWER = 154,06% x 50 = **76.28 POSI**  You can see your NFT on the table below with all information. As you can see in the example 2 of my NFTs are staked in the pool and 2 are not.\ \ You can only change back your NFTs to POSI tokens (Decompose) after the lock period is over. \ You can proceed to Decomposition by clicking **"Approve"** then on **"Decompose"** when the lock period is over.  Note that, you don't have to decompose your NFTs if you don't want to. You can keep your NFTs as long as you want.\ \ A marketplace for selling and buying your NFTs will be available soon. ## Staking NFTs Position Exchange NFTs are not purely cosmetic, but a good tool to increase your POSI balance in the NFT Pools.\ Go to the [Pool page](https://app.position.exchange/pools) and select the NFT tab. You will be able to see the available pools.  Click on **"Stake"**.  Select the cards you want to stake and click **"Confirm"**  Congratulations you have successfully staked your NFT.  You can check the new Total Power Staked which is **380.400** in this example. The higher is Total Power Staked is, the higher you share in the pool rewards is.  To harvest your Reward click on the **Harvest icon**. Note that your rewards can only be harvested every 12hours.  To Unstake your NFT you can click **"Unstake"** and to withdraw all your NFT you can click on **"Withdraw all"** The NFT Pool rewards will be reset on the given period. Your NFT will not be unstaked and will remain in the pool. # Referral System Earn commissions on your referrals' swaps and 5% of their rewards from farms and Pools on Position Exchange  Position Exchange offers a referral system that allows the community to grow organically. Users can invite friends to join Position Exchange via a referral link and receive rewards for their referrals.\ \ The rewards from the referral system are related to Farms and Single Staking Pools rewards generated by the invited friends. Users will get a commission on each POSI earned and harvested by their referrals in Farms and Single Staking Pools.  ## How does the Referral System work? * **Farms & Single Staking Pools:** Users can earn a **5%** commission on their referrals' earnings. Your rewards will be visible in the Referral section of the website and **automatically withdrawn** to your wallet **once the referred users harvest their rewards**. You can visualize and check your the details of your referrals rewards and keep track of it easily. * **Exchange:** Coming soon.**Example:**\ You have invited a friend via a referral link and he/she **generates and harvest** **50 POSI** in rewards from the Farm or the Single Staking Pool.\ Your rewards will be: **50 POSI x 5% = 2.5 POSI.** \ **2.5 POSI** will automatically be withdrawn to your wallet without any fees or taxes. Note that your rewards are not deducted from the referred user's reward. In short:\ \ Your friend gets: **50 POSI**\ You get: **2.5 POSI**\ \ **The referral system works for Farms and Single Staking pools and not for NFT Pools.**\ \ **Please Note that you can see your referred users only once they connect their wallet and accept successfully your referral.** ## **The Referral System platform** The Referral section of the website will provide you with an easy look and access to the details of your referral rewards.\ \ **You can view your referral statistics:**  **You can view a dashboard with the active referrals and the amount of rewards for Pools and Farms:**  **You can keep track of your referrals' rewards:**  **Note that you can see your referred users only once they connect their wallet and accept your referral.** # Vaults  Vaults are a unique feature brought by Position Exchange allowing users to stake their single assets and generate rewards. By staking tokens into the vaults, users can save up time and network fees while auto-compounding their rewards every 24 hours. Currently, The platform offers 2 vaults: The BNB Vault and The BUSD Vault. ## Position Exchange Vaults Vaults are a unique feature brought by Position Exchange allowing users to stake their single assets and generate rewards. By staking tokens into the vaults, users can save up time and network fees while auto-compounding their rewards every 24 hours. Currently, The platform offers 2 vaults: The BNB Vault and The BUSD Vault. ## Merging Vaults and Farms As you may know, Farms and Vaults have always been the same thing. The BUSD Vault is running through the BUSD-POSI farm and the BNB Vault is running through the BNB-POSI farm. For more convenience, we have decided to Merge the Farms and Vaults into one single platform called BUSD Auto and BNB Auto to make it easier for users. Enjoy the auto-compounding magic with a high and stable APR while providing liquidity and supporting Position Exchange. ## How does Farm Auto work? When staking to farm auto, it will split token into LP, stake LP, and then auto compound rewards. Eg: stake $1,000 BUSD will be split into POSI and BUSD and wrapped into LP tokens and will automatically stake to POSI-BUSD farm in one single transaction. And then automatically compound rewards every 24 hours. ## How to use Farm Auto **Step 1**: Go to the Farms tab on Position Exchange. **Step 2**: Click Approve Contract button to approve staking LP token or BUSD **Step 3**: Click Stake button in your preferred farm
Click to Stake
Choose an Investment Option - Scroll for more
Choose your investment to "Unstake"
For example: Approve for DAI-BUSD
Just click Claim and sign the transaction in your wallet
| Address | Name |
|---|---|
| 0x3C7142552250B10252A214ecccA332368D66c350 | PTX |
| 0xB02de8F384613d0aa2521B188b55c4D006dDB2D1 | PosiStakingManagerV2 |
| 0xce0a236e240906600fe652bffba67b8d26387445 | GeneralNFTRewardV3 |
| 0xccc1c1538f8870018239fb1b78a0758b7de80bfa | LiquidityNFTStaking01 |
| 0xaa60a6f62e39a706594ef60dad5c13e709edd2d6 | LiquidityNFTStaking02 |
2. The governance is a fully on-chain process which serve as a very transparent and clear governing tool and includes all holders in the voting process.
3. The governance will only serve on-chain changes to the protocol as a first step (Example: Access to the locked Governor contract tokens, etc...).
4. The community proposal creations will be available in a sub-section soon.
5. Voting in the governance requires gas-fees as the process happens fully on--chain.
6. There is no minimum amount of POSI required to proceed to the voting.
7. The more POSI an address contains the more impactful is its vote (Example: An address with 1000 POSI has more voting impact than address with 10 POSI).
8. Voters will be able to earn POSI from voting. {% hint style="info" %} **\*Timelock:** Each protocol contract is controlled by the Timelock contract, which can modify system parameters, logic, and contracts in a 'time-delayed, opt-out' upgrade pattern. The Timelock has a hard-coded minimum delay of a certain amount of days, which is the least amount of notice possible for a governance action. The Timelock contract queues and executes proposals that have passed a Governance vote. {% endhint %} --- [Next Page](/llms-full.txt/1)