Prerequisites: To successfully access Audaces Protocol you must have the following:
A Solana wallet (Sollet.io recommended)
Solana (SOL) for transaction fees
USDC for trading collateral
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Accept and agree to the terms and conditions.
3. Connect your wallet
4. Select your wallet
5. Approve your wallet to connect. Please ensure you have auto approval off, as this may cause latency issues with users.
6. The connect button should now display as:
7. Now your wallet is connected. You can proceed to Section Two: Creating Trading Accounts & Depositing Collateral
Section Two: Creating Trading Accounts & Depositing Collateral
8. In order to open a position you need to create a trading account. Click ‘Accounts’ and then click ‘Create Trading Account.’
9. Approve the transaction in a new browser window.
10. Now you have created an account to trade with.
11. Clicking deposit will open a new box that will enable you to make a USDC deposit into the trading account.
12. Approve the USDC deposit.
13. Now the USDC amount has been successfully deposited into the trading account. Now we can proceed to Section Three: Placing Orders & Closing Trades.
Section Three: Placing Orders & Closing Trades
14. This section here is where you can open a position on either side of the market (Long or Short).
15. To place an order, input the following amount of BTC / USD wish to purchase. You can adjust the leverage to borrow USD to place an order.
16. Approve the transaction to place your position
17. Now your position will be visible under the POSITIONS tab. Now that the trade is open it will remain open until you choose to close it.
18. You have two options to close or edit your position.
18.1: Edit Position gives you the option to increase or decrease your position. Decreasing your position is known as a partial close.
18.2: Close will exit your position. With both options you are required to approve your transaction.
Section Four: Withdrawing Funds & Extracting Funding Rates
19: Each hour a FUNDING RATE is applied to your trade. Before you can WITHDRAW you must click EXTRACT to either add or subtract the funding rate. Once this is done you can proceed to withdraw your collateral.
20: To withdraw your funds proceed to the ACCOUNTS tab and click WITHDRAW. This will send the collateral back to your wallet. Note: Make sure no positions are open. If they are open you will be unable to execute this command.
21. Select the amount of collateral you want to withdraw and click WITHDRAW.
22. Approve the transaction
23. Now the collateral has been returned to your wallet.