📜Written Tutorial

Connect Wallet

SynFutures currently supports five major wallets, and more are likely to be added in the future. To connect your wallet, complete the following steps:

  • Click the ‘Connect Wallet’ button on the top right corner of the page.

  • Choose the wallet of your choice.

  • The next step will vary slightly depending on the wallet. But the general process is to unlock the wallet with a password and click connect.

  • For MetaMask, enter the password when prompted.

  • Click ‘Unlock’, 'Next', and ‘Connect'.

Change network

  • You can find the network selection button to the left of your wallet address.

  • Click on the drop-down arrow and choose the network of your choice.

  • If your wallet is set to a different network, you will be prompted to switch the network on your wallet before placing a trade.

The site's main page is designed to provide a clean interface and a smooth user experience for traders and LPs

  • Market: Lists out all the pairs that are currently available for trade. The USDs Margin tab lists assets paired against a stablecoin, and the Coin-Margin tab lists assets paired against other cryptocurrencies.

  • Trade: Allows traders to place market and limit orders, view open positions, open orders, trade history, order history, and funding history.

  • Earn: Allows LPs to provide liquidity for different pairs. Available pairs can be sorted by APY, 24H volume, or TVL. New pairs can also be created using the 'Create Pool' option.

  • Portfolio: Provides a broad overview of the user's portfolio and previous activity on SynFutures.

  • Trading GP: Provides a comprehensive overview of the Grand Prix trading competition with 500,000 USDC prize pool.

  • Odyssey: Provides details about the Oyster Odyssey campaign.

  • More: SynFutures whitepaper, documentation, academy, and FAQ can all be accessed by clicking 'More.'

Trade

  • Choose the right pair

    • After making the deposit, go to the Trade section. You’ll notice a trading pair mentioned prominently right below the SynFutures logo. Click on it to see all the available trading pair options. The dropdown box will show the available pairs, the expiry date or ‘PERP’ for perpetual futures, the current price, and the 24H trading volume.

  • Place a market order

    • On the right side of the page is the trading section where users can place either a market order or a limit order. This section is set to market by default. To place a market order, a user needs to do the following.

      • Choose whether to buy or sell.

      • Select the amount for trade. It can be denominated in quote asset or base asset.

      • Choose the required leverage

      • Once completed, check the following details

        • Margin Required

        • Limit Price

        • Estimated Trade Value

        • Price Impact

        • Trading fee

      • After you have verified the details, click the ‘Buy’ or ‘Sell’ option and approve it in the wallet

      • Once the transaction is confirmed, the trade will appear as an open position, which you can monitor by scrolling down

  • Place a limit order

    • The limit order process is the same as the market order process but with one extra step. The user must enter the limit price in USDC before placing the order. The order will only get executed if the market reaches the limit price.

      • Click the ‘Limit’ tab

      • Choose whether to buy or sell.

      • Select the amount for trade.

      • Enter the limit price in base asset.

      • Choose the size of your trade and the required leverage

      • Since limit orders increase liquidity in the market, traders who place limit orders are eligible for a fee rebate if the order is filled. You can check all the details right below the leverage slider

      • Click the ‘Buy’ or ‘Sell’ button and approve it in the wallet

      • An order placed but not filled can be found under the ‘Open Order’ section.

  • Adjust the margin of a position

    • SynFutures allows traders to increase or decrease the margin of an open position. To do this

      • Go to the Portfolio section and click on 'Position.'

      • All the positions that are currently active will be displayed in a list. Choose the position of your choice.

      • This will take you to the Trade section. Next to Margin, click on the 'Transfer' option.

      • A new transfer dialog box will open. Use 'Transfer In' if you want to increase your margin. Use 'Transfer Out' to decrease it.

      • Click 'Confirm' and approve the transaction in your wallet.

  • Close Position

    • All the currently active positions can be seen in the position section. SynFutures has made it really simple to close an open position. A trader must find the open position, click ‘Close,’ and confirm it in the wallet. The position will close at the current market price, and the remaining margin will be added to the available balance.

Earn

  • Choose the right pair

    • Earn section display the list of all the available pools on SynFutures V3. The pools can be filtered by the base assets, which are USDB and WETH and they can be sorted by APY, 24H Volume, and TVL. Choose the pool of your choice through the list.

    • You can also create a new pool by clicking 'Create Pool' option on the right side of the screen.

  • Add liquidity

    • Chose the pair of your choice and click 'Add Liquidity'.

    • This will take you to the liquidity page.

    • Enter the amount that you want to provide as liquidity

    • Select the price range using the slider.

      • Moving the slider left decreases the range, and the right increases it.

      • At the extreme left, the range is small. It provides high capital efficiency and APY rates but also increases the chance of liquidation

      • At the extreme right, the range is large. The chances of getting liquidated are small, but the APY rate is also low.

    • Below the slider is a green histogram showing the current liquidity level available at different ranges.

    • This section is also divided into two areas: Liquidation area and Impermanent Loss area. The red color represents the liquidation area beyond the selected range. If the price reaches this zone, the position faces liquidation risk. The green area represents active liquidity, as long as the price is within this range, liquidity will be active and the liquidity provider only faces the risk of impermanent loss.

    • The next section shows the capital efficiency boost of the selected range and the 'Removal Price' and 'Liquidation Price'.

      • Removal Price refers to the price at which LP's liquidity will get converted into a trading position.

      • Liquidation Price refers to the price at which that trading position will get liquidated.

    • Use these details to choose the range that you’re comfortable with and then click ‘Confirm.’

    • Confirm the transaction on your wallet.

    • You can see the new position under the ‘Liquidity’ section. It will show the total value locked, fees earned, and the liquidation price.

  • Remove Liquidity

    • Removing liquidity is a two-step process. First,you need to close the liquidity position from the Earn section. This will convert your liquidity position into a trading position. Second, you need close the trading position.

      • Go to the Liquidity section.

      • Click 'Remove' on the position that you want to exit.

      • Click ‘Confirm'.

      • Confirm the transaction on the wallet.

      • Once that’s done, your liquidity gets converted into a trading position.

      • Click the ‘Manage’ position button to take you to the trading section.

      • Here you’ll see a new trading position created by SynFutures.

      • Click ‘Close’ on the position and confirm in your wallet.

      • That’s it. Your liquidity position is now closed and the amount will be transferred to your account balance.

Portfolio

  • Deposit to account balance.

    • Once your wallet is connected, go to Portfolio.

    • Under Accounts, Click 'Deposit'.

    • The Deposit dialog box will show your wallet balance and an input box. Enter the amount you want to deposit.

    • Click 'Approve USDC to continue'. Approve the transaction in your wallet.

    • Once the approval is completed, click 'Confirm' and approve the transaction in your wallet.

    • After completing the transaction, the Total Value section will reflect the updated amount.

  • Withdraw from your account balance

    • Withdrawing the account balance is just as easy as a few clicks. There is no lock-in period or large withdrawal fee. All you need to do is

    • Go to the Portfolio section.

    • Click ‘Withdraw'.

    • Choose the amount to withdraw.

    • Click the ‘Withdraw’ button on the dialog box.

    • Confirm the transaction on the wallet.

    • After a few seconds, your transaction will get confirmed and the amount withdrawn to your wallet.

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