# Introduction

Welcome to Synthswap!

<figure><img src="/files/2osrP13v0q7n9Gov5XQY" alt=""><figcaption></figcaption></figure>

## What is Synthswap?

Synthswap is the leading DEX on Base, completely audited by PeckShield.

Compared to its competitors, Synthswap enables trading with **the** l**owest fees!** Rewards from Staking and Yield Farming are among **the most lucrative.**

All this and more is possible thanks to highly efficient <mark style="color:purple;">**Concentrated Liquidity.**</mark> Uniquely to the Base ecosystem, Synthswap will offer its users <mark style="color:purple;">**Active Liquidity Management.**</mark>

Additionally, Synthswap aims to fully involve its users in decision-making. All major changes will be decided via **Governance Voting!**&#x20;

<figure><img src="/files/Al5H6rxxnuQMlEDbugfB" alt=""><figcaption></figcaption></figure>

## What is Concentrated Liquidity?

Concentrated Liquidity represents a groundbreaking liquidity solution that enables liquidity providers (LPs) to **maximize their capital efficiency** and **mitigate impermanent loss** by concentrating their liquidity within a specific price range. This innovative feature allows LPs to stake a specific token pair within a defined price range.

## Why is Active Liquidity Management needed?

While it is possible to earn higher returns in Concentrated Liquidity pools, these platforms pose a greater challenge for liquidity providers than traditional ones, as they require liquidity providers to provide liquidity within specific price ranges. If the underlying asset's price moves outside of the set price range, the Liquidity Providers no longer earn fees without re-adjusting the price ranges.

By using Gamma's active liquidity management tools, users can benefit from automatic rebalancing of their liquidity to keep it within range and auto-compounding of generated swap fees to maximize capital efficiency.

## About Base

Base is a secure, low-cost, builder-friendly Ethereum L2 built to bring the next billion users onchain.

Base is incubated within Coinbase and plans to progressively decentralize in the years ahead. We agree with the vision of Base, that decentralization is critical to creating an open, global cryptoeconomy that is accessible to everyone.


# Roadmap

Synthswap's quarterly planning.

<figure><img src="/files/xbYZCiv0EGZXJ15eF3Jg" alt=""><figcaption></figcaption></figure>

## 3rd Quarter (2023)

* [x] Promotional Activities
* [x] First Audit
* [x] KYC
* [ ] Second Audit
* [x] DEX Launch
* [x] $SYNTH Token Launch
* [x] Yield Farm Launch (v2)
* [x] Partnership with Algebra
* [x] Partnership with Gamma
* [x] Concentrated Liquidity pools
* [x] Yield Farm Launch (v3)
* [x] Active Liquidity Management
* [x] Staking $SYNTH
* [ ] Governance Voting
* [x] Analytics Page
* [x] Referral Program
* [x] Burning Mechanism
* [x] Dashboard Statistics
* [x] Fiat on-ramp
* [x] Futures
* [x] Leaderboard
* [x] Trading Competition

## 4th Quarter (2023)

* [x] Partnership with 1st Tier Aggregators
* [ ] Launchpad
* [ ] Limit orders
* [ ] UI upgrades
* [x] Reduction of Token Emission
* [x] Extensive Marketing Campaign (giveaways and collaborations)

## 1st Quarter (2024)

* [x] Migration from USDbC to USDC
* [x] Introduction of new Manual Farms
* [x] Zealy Sprint for $1000
* [x] Partnership with 2nd Tier Aggregators
* [x] Partnership with On-Chain Analytic platforms
* [x] Marketing campaign

## 2nd Quarter (2024)

* [x] On-Chain campaigns with 1st Tier Partners
* [x] Promotional Zealy Campaign (Sprint 1)
* [x] Revamped UI/UX

## 3rd-4th Quarter (2024)

* [x] UI/UX Refresh
* [x] Partnerships with SureYield, Omniscia, IQ.wiki
* [ ] Introduction of new Farms
* [ ] Token Generator
* [x] Promotional Zealy Campaign (Sprint with partners)

## 1st Quarter (2025)

* [ ] Increased SYNTH utility via Lottery System (moved from Q4)
* [ ] Launching 1-2 projects on Base (moved from Q4)


# Token Swap

Decentralized exchange of various coin pairs

<figure><img src="/files/dfn3de37clfl37bMkIhz" alt=""><figcaption></figcaption></figure>

As an automated market-maker (AMM), Synthswap allows decentralized exchanges of various coin pairs at the lowest fees possible!

Users can trade coins in the Base network in a non-custodial manner without going through any centralized intermediary and paying excessive fees. With Synthswap, the trading fees will be distributed to liquidity providers. This ensures liquidity providers are incentivized to provide the depth of liquidity needed to give you the best prices across the board.


# Yield Farms

Passive earning by providing Liquidity

<figure><img src="/files/W2r3fxXmWvTq4CrBYokB" alt=""><figcaption></figcaption></figure>

## What is Yield Farming?

Yield farming is a method of earning rewards or interest by depositing your cryptocurrency into a pool with other Synthswap users.

Synthswap farms are designed to incentivize users to provide liquidity for their favorite token pairs. Users who create and stake their liquidity provider (LP) tokens in farms on Synthswap will earn trading fees and $SYNTH tokens.

## Rewards

The rewards on Farms are paid out in SYNTH and xSYNTH. The ratio between both tokens is subject to change and is announced in advance. For popular pairs additional rewards in prime tokens can be used (USDC, ETH, BTC).

## v2 Farms

|     Type    | Status |
| :---------: | :----: |
| SYNTH - ETH |   ✔️   |
|     ETH     |   ✔️   |
| ETH - USDBC |   ✔️   |
| DAI - USDBC |   ✔️   |

## v3 Farms

Coming soon.

## Gamma Farms

Coming soon.

{% hint style="info" %}
Gamma Farms are v3 farms with Actively Managed Liquidity.
{% endhint %}


# Bridge

Transfer cryptocurrencies from other EVM chains

<figure><img src="/files/dPXxh4MsSM0Almm67hka" alt=""><figcaption></figcaption></figure>

## How to Bridge?

The [Base Bridge](https://bridge.base.org/) allows you to bridge ETH from Ethereum to Base and vice versa.

To bridge to or from Base:

1. Visit [Base Bridge](https://bridge.base.org/)
2. Click **Bridge assets**
3. Connect your wallet
4. Choose the amount of ETH (or the asset of your choice that's available) you'd like to deposit or withdraw

For frequently asked questions about Base Bridge, be sure to check out the [Bridge FAQ](https://docs.base.org/tools/bridge-faq).


# Governance Voting

Synthswap = Community

<figure><img src="/files/Q7JZUWzvaZDrE7kTZP46" alt=""><figcaption></figcaption></figure>

The ultimate mission of Synthswap is to become a fully community-driven Decentralized Exchange on the Base blockchain, where all significant decisions are governed by the community members. Synthswap's users are warmly encouraged to actively participate in discussions on the official Discord server.

Synthswap will allow all holders of the $SYNTH token to determine the direction in which the project should go. To achieve that, all decisions will be polled via the Snapshot voting mechanism.

## What is Snapshot?

Snapshot voting refers to a method of voting on blockchain-based projects that allows holders of a particular cryptocurrency to vote on proposals or changes to the network. This is typically done through a smart contract, which takes a "snapshot" of the blockchain at a specific point in time to determine which addresses hold how many coins and thus have how many voting rights. Holders can then use their coins to cast a vote, with the number of coins held determining the weight of the vote. This method of voting is intended to be transparent, secure, and decentralized, allowing holders of the cryptocurrency to have a say in the direction and governance of the project.

<br>


# Concentrated Liquidity

Liquidity allocated within a custom price range

<figure><img src="/files/egv9EPvio86hlD3L4xhm" alt=""><figcaption></figcaption></figure>

## What is Concentrated Liquidity?

{% hint style="info" %}
**Сoncentrated liquidity** — is the liquidity allocated within a custom price range.&#x20;
{% endhint %}

Concentrated Liquidity represents a groundbreaking liquidity solution that enables liquidity providers (LPs) to **maximize their capital efficiency** and **mitigate impermanent loss** by concentrating their liquidity within a specific price range. This innovative feature allows LPs to stake a specific token pair within a defined price range.

{% hint style="success" %}
The APR is dependent on the TVL of the position, the amount of time that the position has been active, and the width of the range.
{% endhint %}

## v2 vs. v3

<figure><img src="/files/HWp7NfwvKn3veotnegxx" alt=""><figcaption></figcaption></figure>

Earlier implementations of AMMs used the so-called XYK model, based on the x\*y=k price curve. The idea was to maintain constant balance within a liquidity pool so that the total value of one token would always equal the total value of the other token in the pool; regardless of their current price against each other.

With the XYK model, the liquidity in the pool is spread across all possible price ranges. As a result, the liquidity providers (LPs) are earning far smaller trading fee bonuses — which is their compensation for the risk they take. They also suffer from higher slippage, because the majority of their liquidity never gets used in pools of this type at all.

Concentrated liquidity tries to boost capital efficiency, and to make up for the inadequacy of the original formula. Within the new model, liquidity can be allocated to a price interval, resulting in what is called a concentrated liquidity position. LPs can open as many positions in the pool as they wish, thereby creating unique price curves aligned with their personal needs and preferences.

When the price enters a specific range, the liquidity aggregated for that range starts collecting trading fees, with each LP receiving their slice of the fee pie, proportionally to their contribution to the total liquidity inside of that price range alone.

As the price moves up and down, liquidity from different LPs is used to execute the swaps. Consequently, users are making trades against the aggregated liquidity from all liquidity positions covering the current price, and there is no difference for those whose liquidity their swaps are utilizing.

There are a number of benefits and advantages that the new model of pooling liquidity offers both LPs and traders. Now, LPs can allocate their capital to the preferred price intervals, consolidating their funds to earn more fees and using liquidity more efficiently. At the same time, traders enjoy deeper liquidity when and where it’s needed most, as well as profiting greatly from reduced slippage.

{% hint style="info" %}
[References and more details.](https://help.algebra.finance/en/liquidity/what-is-concentrated-liquidity)
{% endhint %}

## Illustrative Example

*Norton and Solbytes are both interested in providing liquidity in an ETH/USDC pool on Synthswap v3, each with $1m. The current price of ETH is $1,597.*

{% hint style="warning" %}
Norton chooses to distribute his capital across the entire price spectrum, depositing 500,000 USDC and 307.9 ETH, totaling $1m.
{% endhint %}

{% hint style="success" %}
Solbytes decided to create a focused position, depositing only within the price range of $1,000 to $2,250. He deposits 66,750 USDC and 45.5 ETH, which amount to around $133,500. He invests the remaining $866,500 elsewhere.
{% endhint %}

Despite Norton contributing 7.5 times more capital than Solbytes, they earn the same amount of fees as long as the price of ETH/USDC stays within the $1,000 to $2,250 range.

## Algebra

<figure><img src="/files/pVixvUPHVvzE5sYGIid8" alt=""><figcaption></figcaption></figure>

We would like to take this opportunity to extend our gratitude to Algebra, our partner in bringing the Concentrated Liquidity feature to the Synthswap platform.

Without their support and expertise, the integration of this innovative liquidity solution would not have been possible. Algebra’s commitment to excellence and passion for driving innovation in the decentralized finance space has been instrumental in making this milestone achievement a reality. We look forward to continuing our partnership with Algebra, and together, we will work towards creating a brighter future for decentralized finance. Thank you, Algebra, for your invaluable contributions to our project.


# Active Liquidity Management

ALM with Gamma

<figure><img src="/files/znktBnPeXa43BwbV0jrJ" alt=""><figcaption></figcaption></figure>

By using Gamma's active liquidity management tools, users can benefit from automatic rebalancing of their liquidity to keep it within range and auto-compounding of generated swap fees to maximize capital efficiency.

Once you deposit your liquidity, Gamma takes care of the rest. Managing your liquidity has never been easier!

## What is Gamma?

Gamma is a non-custodial protocol that offers automated and active management of concentrated liquidity. Through various management functions, including rebalancing, position setting, and fee processing, Gamma allows for the active management of funds within liquidity pools without sacrificing asset custody. These features are made possible through ongoing research and implementation of key strategies driven by data science and financial modeling aimed at delivering optimal results to customers.

<figure><img src="/files/MZvHtIDAVibkSSSfznH8" alt=""><figcaption></figcaption></figure>

## Why is Active Liquidity Management needed for the Concentrated Liquidity?

ALMs are designed to address several challenges that exist in CL AMMs:

#### Complexity

CL AMMs provide greater capital efficiency than standard AMMs but are also more complex to manage. Users must understand different liquidity ranges, and associated risks, and deploy their capital with more steps. This complexity can be daunting for many users.

**Higher Impermanent Loss**

Another challenge with CL AMMs is the increased risk of impermanent loss due to the ability to concentrate liquidity. If the market price goes beyond the established price ranges, users face the maximum IL. Therefore, users must be mindful of their risk appetite and provide liquidity accordingly.

**Active Position Management**

To mitigate against impermanent loss, users must be active in managing their CL positions. This requires constant supervision to ensure that current prices do not go beyond the established ranges, or else they face the risk of maximum IL. This active management can be time-consuming and difficult for many users.

**More work for Projects managing their own Liquidity**

Additionally, projects looking to manage their own liquidity and engage in market-making activities will need to allocate more time and resources under a CL environment.

ALMs are focused on active management for CL AMMs to maximize fee generation, minimize impermanent loss, and automate the process of rebalancing users' positions.\
\
With ALMs like Gamma, users can outsource the active management of their liquidity in a trustless manner. This means that users can avoid the complexities of active management and benefit from a more streamlined and efficient process.

**Composability**

In CL, LP tokens are represented as an NFT, which hinders composability. However, with Gamma's ALM, LP positions will be manifested as ERC20 tokens, which are composable across DeFi. This means that LPs can deposit Gamma LP positions to Synthswap's standard farms and benefit from the platform's other features.

## What is Difference between Narrow and Wide pools?

{% hint style="success" %}
**Automatic Wide**: less rewards from fees, however the Impermanent Loss will be smaller.
{% endhint %}

{% hint style="warning" %}
**Automatic Narrow**: more rewards from fees, however the Impermanent Loss can be higher.
{% endhint %}


# Futures Trading

Go Long or Short with up to x20 Leverage, Swap with 0% Price Impact

<figure><img src="/files/2SaFMfVo46iOGdsTKee2" alt=""><figcaption></figcaption></figure>

## What are Futures?

Futures contracts allow traders to gain exposure to cryptocurrencies without the need to possess the underlying asset. It is similar to stock indices or derivatives contracts involving commodities, where an investor can take risks on an asset’s future value.&#x20;

The dominant aspect of crypto futures trading is that it can protect investors against adverse market conditions. Traders can sell high and buy low to profit from the price difference, known as short selling. Essentially, crypto futures contracts allow market participants to make profits regardless of the price direction of the underlying asset.

### **Futures Trading on Synthswap**

On Synthswap you can open Long and Short Positions with up to x50 Leverage. Alternatively you can use Synthswap Futures for Swapping with 0% Price Impact. Both, Market and Limit Orders are possible.

* **Long and Short Positions with up to x50 Leverage**
  * Market Order
  * Limit Order
* **Swap with 0% Price Impact**
  * Market Order
  * Limit Order

#### Long Position

{% hint style="info" %}
Going long or taking a long position means buying an asset with the expectation that its price will rise in the future.
{% endhint %}

* **Objective:** Long traders aim to profit from the asset's price appreciation. They want to buy low and sell high.
* **Risk**: The risk in a long position is that the asset's price could decrease, resulting in a loss if the trader needs to sell at a lower price than they bought it for.
* **Profit Mechanism**: A long position profits when the asset's market price increases because the trader can sell it for more than they paid.

#### Short Position

{% hint style="info" %}
Going short or taking a short position means selling an asset that you do not own (borrowing it) with the expectation that its price will fall. At a later time, you aim to buy it back at a lower price to repay the borrowed asset.
{% endhint %}

* **Objective**: Short traders aim to profit from falling prices. They want to sell high and buy low (covering their short position).
* **Risk**: The risk in a short position is that the asset's price could rise, resulting in potential losses.&#x20;
* **Profit Mechanism**: A short position profits when the asset's market price decreases because the trader can buy it back (cover the short) at a lower price than they sold it for.

#### What are Orders?

In summary, long positions involve buying an asset to profit from rising prices and short positions involve selling an asset to profit from falling prices. These positions can be opened immediately **(Market Order)** or sometime later when the price suits your investment goal **(Limit Order)**.

{% hint style="info" %}
**Market Order -->** An order to buy or sell an asset immediately at the current market price.&#x20;
{% endhint %}

{% hint style="info" %}
**Limit Order -->** An order to buy or sell an asset at a specific price or better.
{% endhint %}

#### Simplified Example of Long and Short Positions

Norton entered a long futures position when SYNTH was trading at $40 while Solbytes entered a short position at the same time. Then, prices moved up and Norton and Solbytes decided to settle their positions at $45. In this case, Solbytes, who is holding a losing trade, will have to pay the exchange the deficit loss of $5 ($45-$40 = $5). Norton, on the other hand, will receive a profit of $5 from the exchange.

## SLP Token

In order to make Futures Trading possible on Synthswap, especially for leveraged positions, deep liquidity is needed. To achieve substantial liquidity, Synthswap utilizes a token known as the Synthswap Liquidity Provider (SLP) Index Token. When traders incur losses, SLP holders gain profits, and the opposite holds true.

**The SLP Index consists of:**

* ETH (50%)
* USDbC (50%)

{% hint style="info" %}
The constitution of SLP Index is subject to change, especially with the addition of new Trading Pairs.
{% endhint %}

#### How to Buy SLP Token

Buying of SLP Index Token is possible with any of the current Index tokens (ETH, USDbC). The process for redeeming is analogous.&#x20;

#### Staking SLP Token

Fee for Leverage Trading on Synthswap Futures is set to 0.1%. The Fees are used to incentivize SLP Liquidity Providers and xSYNTH Stakers:

* SLP Liquidity Providers - 80%
* xSYNTH Stakers - 20%

{% hint style="warning" %}
To prevent sudden withdrawal of Liquidity, there is a 24h redemption period for the withdrawal of SLP Tokens.
{% endhint %}

How to Stake SLP: #[Get Started with Futures Trading](/guides/get-started-with-futures-trading#provide-liquditiy-stake-slp-token)

## How to Use Futures on Synthswap?

[Get Started with Futures Trading](/guides/get-started-with-futures-trading)


# List Your Token

In case that you would like to have your token whitelisted on Synthswap, kindly open a Pull Request so that we can initiate the process of integrating new changes into the main project repository.

{% embed url="<https://github.com/synthswapdev/synth-tokenlist>" %}


# Token Crafter

Craft your own Token on Base

<figure><img src="/files/l5N5wgkgSeXp85auDhEO" alt=""><figcaption></figcaption></figure>

Easily create your custom ERC-20 token on Base with our user-friendly Token Crafter. Skip the hassle of complex smart contract coding - just provide your token details, and our platform takes care of the rest

## 1. Advantages

* Effortless and quick token creation process
* No need for smart contract coding skills
* Full ownership of your generated tokens
* Customizable token name and symbol
* Sign and launch using your personal wallet

## 2. Functionalities

When creating a new token, you can either create a simple token without any extra functionalities (so-called Basic Token) or choose between the three different token properties below:

{% hint style="info" %}
**Minting:** Enables the token owner to mint new tokens.
{% endhint %}

{% hint style="info" %}
**Burning:** Enables the token owner to burn already created tokens. Burned tokens are permanently removed from circulation and the total supply is effectively reduced.
{% endhint %}

{% hint style="info" %}
**Receive Fees:** This is an extra fee for trading the token. Activating fee collection disables Minting and Burning features. To ensure the fee collection works, you need to add liquidity in ETH and your token on Synthswap.
{% endhint %}

## 3. Example Tokens

### Simple Tokens

These tokens are ideal for launching simple projects and meme-coins.

1. **Basic Token**
   * Token with no additional features.
2. **Taxable Token**
   * Token with enabled Receive Fees functionality. From each trade, a **Percentage Fee** (%) is deducted.

{% hint style="success" %}
**Percentage Fee** is limited to a maximum of 3%
{% endhint %}

{% hint style="info" %}
**Liquidity Fee:** A fraction of the **Percentage Fee** that is added to the LP pool, which increases the liquidity of your token and helps make the token less volatile.
{% endhint %}

{% hint style="info" %}
**Team Fee:** A Fraction of the **Percentage Fee** that goes directly to you.&#x20;
{% endhint %}

### Advanced Tokens

These tokens are ideal for DeFi protocols, giving more power to the owners of the token.

1. **Mintable Token**
   * Token with non-fixed total supply, enabling the token owner to mint more tokens.
   * These tokens are usually flagged with a warning by various token-scoring algorithms.
2. **Burnable Token**
   * Token where owners can burn and permanently remove supply from the circulation.&#x20;
3. **Mint-Burnable Token**
   * Token with Minting and Burning functionality.

{% hint style="success" %}
Maximum supply of the token is limited with MAX TOKEN SUPPLY. The initial supply must be less than or equal to the maximum supply.
{% endhint %}

## 4. Token Contracts

In the background, our Token Crafter is powered by known factories for the generation of the tokens. As the token is crafted it gets automatically verified by the blockchain explorer.

| Simple Tokens | Address                                    |
| ------------- | ------------------------------------------ |
| Basic Token   | 0xbe87Bf7d0D84e3f9fA7fb9897dE9cd8e1663c56B |
| Taxable Token | 0xF41C560470385B707936d08b486AD08C89FeAB73 |

| Advanced Tokens     | Address                                    |
| ------------------- | ------------------------------------------ |
| Mintable Token      | 0xd25b92E238E53773C0f03bC23bd8EC70c0E7661f |
| Burnable Token      | 0x6bd207f5659C99fEA083BF62b42750CeED476AAF |
| Mint-Burnable Token | 0x6558a447cA770835e86fEd34504435d2a99B7fFd |

{% hint style="info" %}
**Token Crafting address:** 0x80c9994d11796505752EF8673ac4641e67484200
{% endhint %}


# Futures Referral Program

Coming Soon! --> Get rewarded by inviting your friends to Synthswap

<figure><img src="/files/7GS4SvO9phWp1ICY0Uec" alt=""><figcaption></figcaption></figure>

## How does it work?

Synthswap offers a so called **Futures Referral Program**, which is an excellent opportunity for you and your friends to earn extra rewards. Receive **fee-cashback** as well as **fee-commissions** through our Referral program! Climb through Bronze, Silver and Gold tier to increase the potential rewards through Futures Trading.

## Tier System

The Synthswap Referral Program employs a tiered structure to prevent any attempts at exploiting the system via self-referrals. This strategy is in place to guarantee that all referrals are authentic and truly reflect legitimate users who have been introduced to the platform.

|  Tier  | Fee-Cashback to Traders | Fee-Commission to Referrer |
| :----: | :---------------------: | :------------------------: |
| Bronze |            5%           |             5%             |
| Silver |           10%           |             10%            |
|  Gold  |           10%           |             15%            |

{% hint style="success" %}
Anyone can create a Referral Code with Bronze Tier. You can ascend to the Silver and Gold Tiers when specific criteria are satisfied:

* **Silver Tier:** A minimum of 15 active traders utilizing your referral codes each week, with a collective weekly trading volume exceeding $1.5 million.
* **Gold Tier:** A minimum of 30 active traders utilizing your referral codes each week, with a collective weekly trading volume exceeding $7.5 million.
  {% endhint %}

{% hint style="info" %}
If you meet the criteria, please open a support ticket on Discord, and we will proceed with upgrading your tier.
{% endhint %}

{% hint style="info" %}
Commission and cash-back apply to the opening and closing fees for leverage trades.
{% endhint %}

The opening and closing fees are determined by 0.1% of the position size. There are no price impacts for trades, and there is zero spread for ETH. Fee-commissions are calculated prior to fee-cashback, ensuring that referrers earn commissions on the entire maker fee. Additionally, referrers earn from what would typically be spread on other exchanges. Consequently, referrers will earn comparable commission amounts per trading volume on Synthswap when compared to referral programs on other centralized exchanges.

## How to Create your own Referral Code?

Visit our Futures Trading platform and go under [Referrals section.](https://perps.synthswap.io/#/referrals)

1. Go under Affiliates section
2. Choose your own Referral Code (some might already be taken)
3. Click Create and Confirm transaction in your wallet.

<figure><img src="/files/u41rlpSGnzRbN4bopJZB" alt=""><figcaption></figcaption></figure>

Once you generated your own Referral Code you can share it on Social Media and with friends.&#x20;

{% hint style="success" %}
You can generate multiple Referral Codes. There is no limit.
{% endhint %}

You can monitor various metrics on the Affiliates dashboard, including the overall trading volume, the traders who joined through your referral code, and the total commissions you've accumulated.

<figure><img src="/files/uScF8OJioWc56IOMU9fP" alt=""><figcaption></figcaption></figure>

## How to Trade with Referral Code from others?

Visit our Futures Trading platform and go under [Referrals section.](https://perps.synthswap.io/#/referrals)

1. Enter Referral Code from your friend
2. Click Submit and Confirm transaction in your wallet

<figure><img src="/files/reOsXgvMzpOf6CWO6RlQ" alt=""><figcaption></figcaption></figure>

If the code is legitimate, you will observe on your Traders dashboard that the code corresponds to a specific Tier Level (1 = Bronze, 2 = Silver, 3 = Gold).

<figure><img src="/files/99Sn8X1S5NiLe6A2ckDN" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
You can easily modify your Referral Code for trading by clicking on the "Edit" symbol next to the code.
{% endhint %}

<figure><img src="/files/OzVIhooIsb2VnsisbVLn" alt=""><figcaption></figcaption></figure>


# SYNTH Token

Synthswap's Native Token

<figure><img src="/files/afHUHqqck0WvfhchOySI" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
**SYNTH token address:** 0xbd2DBb8eceA9743CA5B16423b4eAa26bDcfE5eD2
{% endhint %}

Synthswap has decided to adopt **a fair launch model** for token distribution. This goes along with our mission of true decentralization and unequivocal fairness.&#x20;

{% hint style="success" %}
Team will not receive any tokens at launch, and there are no investors.
{% endhint %}

The token distribution follows a **fixed supply**, linear emission model coupled with burning or deflationary mechanisms to reduce overall supply.

## Tokenomics Breakdown

|          Breakdown         |      Details      |
| :------------------------: | :---------------: |
|           Ticker           |       $SYNTH      |
|       Maximum Supply       |      250,000      |
|        Initial Price       |         $2        |
| Initial Circulating Supply |       20,000      |
|     Initial Market cap     |      $40,000      |
|          Emissions         | 0.00264 SYNTH/sec |

## Token Allocation

|        Allocation        | Percentage \[%] |                  Vesting                 |
| :----------------------: | :-------------: | :--------------------------------------: |
|   Liquidity Incentives   |        35       |         Linear unlock for 3 years        |
| Protocol Owned Liquidity |        5        |                 100% TGE                 |
|     Core Contributors    |        25       |         Linear unlock for 3 years        |
|  Development & Marketing |        20       |    15% TGE, Linear unlock for 2 years    |
|   Ecosystem & Partners   |        15       | 3 month Cliff, Linear unlock for 2 years |


# xSYNTH Token

Synthswap's Escrowed Token

<figure><img src="/files/tFEL2HmFJ8yHSnoaKeDO" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
**xSYNTH token address:** 0x01CC6b33c63CeE896521D63451896C14D42D05Ea
{% endhint %}

xSYNTH is a protocol profit-sharing and governance token that is non-transferable and escrowed. It corresponds to staked SYNTH and can be obtained through on-the-spot conversion from SYNTH tokens or as a Farming Reward in our Yield farms.

{% hint style="success" %}
Ratio for Conversion SYNTH --> xSYNTH is always 1:1
{% endhint %}

{% hint style="warning" %}
Conversion xSYNTH --> SYNTH is **vested**! Vesting starts after the redeeming process is triggered manually by the user. More info: [#vesting](#vesting "mention").
{% endhint %}

## Utility

The primary use case for xSYNTH is to enable staking for various purposes. The process involves staking xSYNTH into the token contract and assigning the deposited amount to a specific staking program on our DEX. This allows for access to a variety of benefits (Sharing Protocol Profits, Governance, Launchpad Allocation).

#### Sharing Protocol Profits

By staking xSYNTH into [Earn Profits](https://app.synthswap.io/stake/earnprofits), you are committing to a profit-sharing model and will begin earning rewards in the form of xSynth and the Current Cycle Pair. This pair changes every month, with a new one introduced at the start of each cycle. For instance, in April, you will receive rewards in the form of ETH/USDC + xSYNTH, while the next month, the Cycle Pair will change to BTC/USDC + xSYNTH.

#### Launchpad Allocation

xSYNTH holders stand to benefit in another way on our Launchpad, where you will have the opportunity to increase your allocation by staking your xSYNTH tokens. This staking mechanism will allow you to increase your chances of obtaining an allocation in our initial projects. We will announce the lock period for staking your tokens to earn a larger Allocation when we release details on the first projects that will be hosted on our Launchpad.

#### Governance

As a community DEX, our aim is to empower our users, and as such, we plan to implement governance voting for all major changes on the platform. Holding xSYNTH will also confer benefits in terms of participating in the decision-making processes of Synthswap, as it will serve as the voting fuel. The greater the amount of xSYNTH you hold, the greater the power you will wield.

## Vesting

xSYNTH can be converted back to SYNTH after a vesting duration, which is selected by the user in the redeeming process.&#x20;

The full vesting duration is 180 days. This means, that only after the 180 days have expired, you will be able to convert 100% of xSYNTH back to SYNTH.

You can also convert xSYNTH back to SYNTH prematurely, starting from the minimum vesting duration of 14 days. If you decide to convert xSYNTH back to SYNTH after 14 days, you will get 50% of SYNTH back. The remaining SYNTH will be burned!

* **Minimum vesting duration** - 14 days (50%)
* **Full vesting duration** - 180 days (100%)

### Examples for different intervals

#### a) 0-14 days

You cannot convert xSYNTH to SYNTH.&#x20;

#### b) 14-180 days

Unlock percentage after N days:

$$
\text{unlock}(N) = 0.5+\big((N-14)/166\big)\*0.5
$$

{% hint style="danger" %}
**The remaining difference is burned!**
{% endhint %}

{% hint style="success" %}
**Example:**&#x20;

* After 14 days, unlock percentage will be 50%
* After 30 days, unlock percentage will be 54.8%
* After 180 days, unlock percentage will be 100%
  {% endhint %}

#### c) After 180 days

Full unlock, you get 100% of SYNTH tokens back.&#x20;

### Good to Know

{% hint style="success" %}
You can cancel the redeem at any point and 100% of xSYNTH will be returned to you.
{% endhint %}

{% hint style="warning" %}
You need to wait the whole redeem period in order to get SYNTH tokens.&#x20;
{% endhint %}

{% hint style="success" %}
Meanwhile you are redeeming, you are still earning in Profit-Sharing program with 50% of your xSYNTH amount or 75% of your xSYNTH amount if you've selected maximum amount of days.
{% endhint %}


# How to Combat Inflation?

Deflation is achieved with Burning Mechanism

<figure><img src="/files/DrlfyIhRQIJPZm4xEf4m" alt=""><figcaption></figcaption></figure>

## SYNTH Burning Mechanism

To counteract inflation and promote a healthier token economy, Synthswap is using a Burning mechanism that is integrated directly into xSYNTH token. In order to understand Burning Mechanism, you have to be first familiarized with the xSYNTH's vesting mechanism.

Ratio for Conversion from SYNTH to xSYNTH is always 1:1, however conversion from xSYNTH to SYNTH is vested, with minimum duration of 14 days and full duration of 100 days. Unlock at day N € \[14,180] is defined as:

$$
Unlock(N) = 0.5 + ((N - 14) / 166) \* 0.5
$$

If a xSYNTH holder decides to convert between xSYNTH and SYNTH before the full 180 days have elapsed, the remaining difference gets burned.

$$
Burned(N) = 1 - Unlock(N)
$$

{% hint style="success" %}
In addition to xSYNTH burning mechanism, Synthswap is performing regular buybacks and burns with accrued protocol fees.
{% endhint %}


# Audit

Synthswap is fully audited by Peckshield

<figure><img src="/files/CNZwYkv6olLETPafnCN3" alt=""><figcaption></figcaption></figure>

## Synthswap is Secure

Synthswap is fully Audited by PeckShield. Roles are revoked from deployer. Everything is under timelock.

{% hint style="success" %}
**Audit Report:** <https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-SynthSwap-v1.0.pdf>
{% endhint %}

**Timelock**

0xfc8eedF50C3ACd86e00717A5B8B4bd6117e44325&#x20;

**Revoked roles from Deployer**

<https://basescan.org/tx/0xf92356228005672df73e5ab525f7a273c9fa647328b7bf015d50ea8f079f2ed3>

<https://basescan.org/tx/0x637b6aeb11deac1792332646a8a8f4b0bd6b3c4c06022fc9c472a9a3a0b34403>

<https://basescan.org/tx/0x8037a5665d13699659860da8ca81dbf02dd82b932d9987db67e4b057c05b9b47>

**Liquidity Lock:**

<https://basescan.org/tx/0xc3f55809c414b9000f1271489ebe9b65dabec318e7c85885542bc090d52f1494>


# Smart Contracts

All contracts are audited and verified

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

## Smart Contracts&#x20;

{% hint style="success" %}
**SYNTH token address:** 0xbd2DBb8eceA9743CA5B16423b4eAa26bDcfE5eD2
{% endhint %}

{% hint style="success" %}
**xSYNTH token address:** 0x01CC6b33c63CeE896521D63451896C14D42D05Ea
{% endhint %}

{% hint style="success" %}
**SLP token address:** 0x67599B62d6864621704b2A124857FCFa39B8291D
{% endhint %}

## **Security**

**Revoked roles from deployer**

<https://basescan.org/tx/0xf92356228005672df73e5ab525f7a273c9fa647328b7bf015d50ea8f079f2ed3> <https://basescan.org/tx/0x637b6aeb11deac1792332646a8a8f4b0bd6b3c4c06022fc9c472a9a3a0b34403> <https://basescan.org/tx/0x8037a5665d13699659860da8ca81dbf02dd82b932d9987db67e4b057c05b9b47>

**Timelock:** 0xfc8eedF50C3ACd86e00717A5B8B4bd6117e44325&#x20;

**Liquidity Lock:** <https://basescan.org/tx/0xc3f55809c414b9000f1271489ebe9b65dabec318e7c85885542bc090d52f1494>

## **DEX**

**Vesting:** 0x253f744E6fAF9C7A452A819bb9e07314Ca735a05

**Factory deployed to:** 0x4bd16d59A5E1E0DB903F724aa9d721a31d7D720D&#x20;

**initHash:** 0x9b4a2933fcfe81c1fe4881d4b555ad7a81dcf78ec61d925453be2138a72414a4&#x20;

**Router V02 deployed to:** 0x8734B3264Dbd22F899BCeF4E92D442d538aBefF0&#x20;

**Multicall2 deployed to:** 0xbc94456e36dd97301F98927279939fa45Ef7Ac72

**SYNTH token deployed to:** 0xbd2DBb8eceA9743CA5B16423b4eAa26bDcfE5eD2&#x20;

**xSYNTH token deployed to:** 0x01CC6b33c63CeE896521D63451896C14D42D05Ea&#x20;

**Dividends deployed to:** 0xb8b0e1EBD2266A0dFf7Da4EbEE8DAaaa6810508f

**SYNTH Chef deployed to:** 0xEF153cb7bfc04c657Cb7f582C7411556320098B9

**WETH:** 0x4200000000000000000000000000000000000006&#x20;

**SYNTH WETH:** 0xAC5aF1706Cc42A7c398C274c3b8ecF735E7ecb28

## **Futures Trading**

**Vault:** 0xB70cf5E6eCd1733448912A9f251D35A17aF94fF6&#x20;

**Usds:** 0x8bcC07C437F959Cb987f76f1811b208EB2A4776b&#x20;

**router:** 0x2B0e5dc114796b922B8a01B79E5c6AbA20D6fcE3&#x20;

**vault pricefeed:** 0x30928d1ef4C57467508B3Af667A9D4523B3678FE&#x20;

**shortstracker:** 0x6Fe309cf4b7c58DcF3FBE9A1815e962cA2dA0898&#x20;

**slp:** 0x67599B62d6864621704b2A124857FCFa39B8291D&#x20;

**slp manager:** 0x92432c10cAE3E58E1684F9161A974f50522B03F5&#x20;

**vaulterror:** 0x612963c5C9D3c63b2f99C90325a00F9Db8ECF98f&#x20;

**vaultUtils:** 0xAbE2197710abDC0c68caB83E91298cc026A56dDf&#x20;

**vaultReader:** 0xda61241Ab16bAB68ACbB1Ce1A9C8E26006723CFA&#x20;

**reader:** 0xC941049b618da1b567e3e086eDCcDb7348f5AFA9&#x20;

**rewardReader:** 0xa559C5E69cB43FC039FbC53111316e0B7124dBb1&#x20;

**orderbook:** 0xf845315144Ce46e5eaf4e9EA990e1DE15eE25044&#x20;

**token manager:** 0x68712AB0bEde6C8aefAdF05f8B8a17442Ef7DB16&#x20;

**referralStorage:** 0x8282F394274D27a3dd582304bFAa23Dd503961b9&#x20;

**position manager:** 0x26C91d9c3d109baEC0F40c33101977f53491095B&#x20;

**position router:** 0x281161613964901FE6F799515f555f0CdF85ADaa&#x20;

**orderbookReader:** 0x43A16BF4e86f0312E94B2D3D3dc90e587Ad46c17&#x20;

**referral reader:** 0x8237ea9ba122247e6416d18472053938946BBa0C&#x20;

**rewardrouter:** 0x9cc5f4932C46403e988E68c501cc091bA188F210&#x20;

**timelock:** 0xB06e372d2D4Fe5d2E3E4f46CC14eF769192D5AD5&#x20;

**fast price feed:** 0x72544e3cCe122dffE2a3EBAf50D96333EE04C34d&#x20;

**order executor:** 0xE41Dc6a073BDA8f4B967DC2bF7B9f0Fa67F21Cfe


# Get Started with Concentrated Liquidity

Learn how to Add Concentrated Liquidity and Start Farming

<figure><img src="/files/5LXC1skMJ51B1pU2Vbvm" alt=""><figcaption></figcaption></figure>

## 1. Go to Exchange / Pool

<figure><img src="/files/sTdW1p5GntwOJRW9kDl4" alt=""><figcaption></figcaption></figure>

## 2. Toggle to V3

{% hint style="info" %}
Synthswap is offering V2 and V3 Liquidity solutions. Concentrated Liquidity refers to V3.
{% endhint %}

<figure><img src="/files/kNWlkBLa7lWT0jwj1DRZ" alt=""><figcaption></figcaption></figure>

## 3. Create New Position

<figure><img src="/files/EpYY6yodEbDXtx9uDNgg" alt=""><figcaption></figcaption></figure>

## 4. Select a pair of two tokens

{% hint style="success" %}
We are suggesting you to start with ETH-USDC (biggest rewards from fees).
{% endhint %}

<figure><img src="/files/FTPXV3k5iHHqh0ktGw11" alt=""><figcaption></figcaption></figure>

## 5. Select a Range

Click on Select a range and continue.

<figure><img src="/files/spw9FdxpcB60SBgL6Iu0" alt=""><figcaption></figcaption></figure>

You can choose from 4 preset ranges (Full range, Safe, Common, Expert) or enter your desired values manually. Keep in mind that the narrower the range, the more fees you can earn, but it also comes with higher risk due to volatile price movements.&#x20;

{% hint style="info" %}
If the prices of the assets for which you're offering liquidity exceed the specified range, your position will pivot towards one of the assets. You will not accrue any trading fees until the price re-enters your designated range.
{% endhint %}

<figure><img src="/files/gc1MFTK5xsy6zDyDFd9z" alt=""><figcaption></figcaption></figure>

For this guide, we will choose the "Expert" range. Once selected, click on Enter Amounts to Continue to the next step.

{% hint style="info" %}
Expert mode involves the highest Risk and highest potential Profits from accrued fees.&#x20;
{% endhint %}

<figure><img src="/files/WqQRzjaU0Yub0YGFROJV" alt=""><figcaption></figcaption></figure>

## 6. Approve both Tokens

Prior to determining the quantities for each token in your CL position, it is necessary to grant approval for both tokens. Validate this approval through your wallet (a pop-up will emerge). Remember, this particular step is required solely during the initial addition of the CL position.

<figure><img src="/files/q2lQaurcX4MIl7mbMSTv" alt=""><figcaption></figcaption></figure>

## 7. Select amounts and Add Liquidity

Select amount for one token, the amount for second token in CL position will be filled in automatically.&#x20;

Finally, click on Add Liquidity.

<figure><img src="/files/FvczxtiruxmL5LSt7PiS" alt=""><figcaption></figcaption></figure>

## 8. Start Farming

After you add CL position you can conveniently click on Start Farming.

<figure><img src="/files/H6MoZkOJiFRk5wgqZXgB" alt=""><figcaption></figcaption></figure>

In case you want to do it later, just navigate to Yield and V3.

<figure><img src="/files/Oxi1xPoUIh7cjuycgQtM" alt=""><figcaption></figcaption></figure>

Click on appropriate farm, in our case we create CL position for WETH-USDbC.

<figure><img src="/files/01y50yCXOtO9bFo2cdQU" alt=""><figcaption></figcaption></figure>

Select your CL position (you can have different positions opened).

<figure><img src="/files/PGUKuts5zn6UMOWTL47n" alt=""><figcaption></figcaption></figure>

First you have to Approve Position (confirm in your wallet).

<figure><img src="/files/1qMhxVWg5mf3qHpZqOO7" alt=""><figcaption></figcaption></figure>

Once your position is approved, you can Deposit (Stake) to Farm and start Farming.

<figure><img src="/files/bpbDi3fM5kPk3iepnaqv" alt=""><figcaption></figcaption></figure>

## 9.Collect Rewards

Navigate to Yield / V3 and select My Farms. Choose your CL position in Farm and click on Collect rewards.

<figure><img src="/files/5via4nSLFBPLhtP4Wv0U" alt=""><figcaption></figcaption></figure>


# Get Started with Active Liquidity Management

Learn how to create Actively Managed Liquidity Positions, powered by Gamma

<figure><img src="/files/r6MkneEN435U1pFbYqj1" alt=""><figcaption></figcaption></figure>

## 1. Go to Exchange / Pool

<figure><img src="/files/sTdW1p5GntwOJRW9kDl4" alt=""><figcaption></figcaption></figure>

## 2. Toggle to V3

{% hint style="info" %}
Synthswap is offering V2 and V3 Liquidity solutions. Concentrated Liquidity refers to V3. Actively Managed Liquidity applies only for V3 positions.
{% endhint %}

<figure><img src="/files/kNWlkBLa7lWT0jwj1DRZ" alt=""><figcaption></figcaption></figure>

## 3. Create New Position

<figure><img src="/files/EpYY6yodEbDXtx9uDNgg" alt=""><figcaption></figcaption></figure>

## 4. Select a pair of two tokens

Synthswap is offering Active Liquidity Management (ALM) only for certain pairs, currently you can create ALM V3 Positions for:

* ETH - USDbC
* DAI - USDbC

{% hint style="info" %}
Active Liquidity Management is not possible for all pairs!
{% endhint %}

<figure><img src="/files/FTPXV3k5iHHqh0ktGw11" alt=""><figcaption></figcaption></figure>

## 5. Select a Range (Wide or Narrow)

Once you selected tokens, click on Selct a range, where you must select Automatic option in order to leverage ALM powered by Gamma.&#x20;

<figure><img src="/files/spw9FdxpcB60SBgL6Iu0" alt=""><figcaption></figcaption></figure>

Active Liquidity Management by Gamma offers two types of ranges:

{% hint style="success" %}
**Automatic Wide**: less rewards from fees, however the Impermanent Loss will be smaller.
{% endhint %}

{% hint style="warning" %}
**Automatic Narrow**: more rewards from fees, however the Impermanent Loss can be higher.
{% endhint %}

<figure><img src="/files/Ww8jnDePFC3y9aRp0JGE" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
For Stable-Stable Pairs there is currently only option for Range, which is defined as Standard.
{% endhint %}

## 6. Approve both Tokens

Prior to determining the quantities for each token in your ALM CL position, it is necessary to grant approval for both tokens. Validate this approval through your wallet (a pop-up will emerge). Remember, this particular step is required solely during the initial addition of the CL position.

{% hint style="info" %}
If you are using ETH-X pairs, you will first have to wrap ETH to WETH.
{% endhint %}

<figure><img src="/files/q2lQaurcX4MIl7mbMSTv" alt=""><figcaption></figcaption></figure>

## 7. Select amounts and Add Liquidity

Select amount for one token, the amount for second token in CL position will be filled in automatically.&#x20;

Finally, click on Add Liquidity.

<figure><img src="/files/FvczxtiruxmL5LSt7PiS" alt=""><figcaption></figcaption></figure>

## 8. Check your ALM Position

Your position is visible under V3/Automated (Gamma) V3 LPs. In case you would like to break/remove your ALM LP click on Withdraw and continue with the process.

In case you would like to earn extra rewards go to [#9.-start-farming](#9.-start-farming "mention")

<figure><img src="/files/1AlQqJlsemNmBiOSxlKz" alt=""><figcaption></figcaption></figure>

## 9. Start Farming

Go to V3 Automated Farms, [link here.](https://www.synthswap.io/farm/gamma)

<figure><img src="/files/2KO1xkN3HOSaJ6NTIKae" alt=""><figcaption></figcaption></figure>

{% hint style="warning" %}
Be careful to select the correct Farm. If you provided liquidity for ETH - USDbC and selected Narrow range then you must select ETH - USDbC Narrow! For Stable-Stable Pairs there is only one option so you cannot miss.&#x20;
{% endhint %}

First Approve your Liquidity Position and Confirm transaction in your wallet. Select how much you want to deposit to the farm.

{% hint style="info" %}
Your LP can be relatively small numbers so click on MAX to select everything.
{% endhint %}

<figure><img src="/files/R55SmZskiEmQmnLyAFS1" alt=""><figcaption></figcaption></figure>

Once Approved, Click on Stake to deposit to Farm and do not forget to confirm transaction in your wallet.

<figure><img src="/files/QUt9sZ02b7GBPo0EjPzl" alt=""><figcaption></figcaption></figure>


# Get Started with Futures Trading

Learn how to open Long and Short Positions with up to x20 Leverage and Swap with 0% Price Impact

## Overview

The flow of using Futures Trading --> <https://perps.synthswap.io>

1. Select Pair (upper left corner)
2. Select Feature
   * Swapping
   * Going Long
   * Going Short
3. Select Order
   * Market
   * Limit
4. Track Positions, Orders and past Trades

<figure><img src="/files/KfaIq4NFskGbglI5CHQf" alt=""><figcaption></figcaption></figure>

## Swapping

Experience 0% Price Impact Swaps with the lowest Feed on Base with Market or Limit Orders.

### Swapping - Market Order

Swap between tokens instantly.

1. Select Swap
2. Select **Market Order**
3. Select First Token
4. Select Second Token
5. Enter Value (ensure that the amount you are receiving is acceptable)
6. Confirm Swap (don't forget to Confirm transaction in your wallet)

<figure><img src="/files/2vtiILJAXJrNth3ukcze" alt=""><figcaption></figcaption></figure>

### Swapping - Limit Order

If you want to swap between tokens at a different Price than it is currently possible on the Market you must set a so called Limit Order. With Limit Order, the swap will be executed when the certain predefined price is reached.

1. Select Swap
2. Select **Limit order**
3. Select First Token
4. Select Second Token
5. Enter Value
6. Define at what Target price you would like to make a Swap
7. Create Limit Order (don't forget to Confirm transaction in your wallet)

<figure><img src="/files/D1NIJAIlqgLzogoxpomV" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
Once your Limit Order for swap is created, you can see it in the Orders list. Keep in mind that the swap will be executed only if the target price is reached.&#x20;
{% endhint %}

{% hint style="info" %}
To Cancel the order simply go under Cancel in the Orders section (see image below).
{% endhint %}

<figure><img src="/files/E1helGpmSmYdZ8BtKfWY" alt=""><figcaption></figcaption></figure>

## Long Position (Market or Limit)

Going long or taking a long position means buying an asset with the expectation that its price will rise in the future. You can choose between Long Market Order or Long Limit Order.&#x20;

{% hint style="info" %}
By adjusting the **Leverage slider**, you can select Leverage between x1 to x20. In case that the liquidity is not deep enough, the upper limit of the Leverage will be lower.
{% endhint %}

{% hint style="danger" %}
Trading with **Leverage** is not recommended for Beginners. Make sure that you fully understand how Leverage works before proceeding further. In volatile market conditions using high leverage can cause liquidation of your account.&#x20;
{% endhint %}

1. Select Long
2. Select **Market/Limit** Order&#x20;
3. Select Token for Collateral
4. Enter Amount
5. Select Token for Long Position
6. Select Leverage
7. Open Long Position

<figure><img src="/files/ENN9aOWWotPT8b4ycID6" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
Once the Long Position is created, you can edit or close it under Positions.
{% endhint %}

<figure><img src="/files/1tdmD7onLBQuSa0tF3Xo" alt=""><figcaption></figcaption></figure>

## Short Position (Market or Limit)

Going short or taking a short position means selling an asset that you do not own (borrowing it) with the expectation that its price will fall. At a later time, you aim to buy it back at a lower price to repay the borrowed asset. You can choose between Short Market Order or Short Limit Order.&#x20;

{% hint style="info" %}
By adjusting the **Leverage slider**, you can select Leverage between x1 to x20. In case that the liquidity is not deep enough, the upper limit of the Leverage will be lower.
{% endhint %}

{% hint style="danger" %}
Trading with **Leverage** is not recommended for Beginners. Make sure that you fully understand how Leverage works before proceeding further. In volatile market conditions using high leverage can cause liquidation of your account.&#x20;
{% endhint %}

<figure><img src="/files/hmdZhSzDvEBH9hZO8ChD" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
Once the Short Position is created, you can edit or close it under Positions.
{% endhint %}

<figure><img src="/files/qYj7u2HqIaSgpLLh29Js" alt=""><figcaption></figcaption></figure>

## Provide Liquiditiy (Stake SLP token)

In order to make Futures Trading possible on Synthswap, especially for leveraged positions, deep liquidity is needed. To achieve substantial liquidity, Synthswap utilizes a token known as the Synthswap Liquidity Provider (SLP) Index Token. When traders incur losses, SLP holders gain profits, and the opposite holds true.

{% hint style="success" %}

1. Add **SLP Liquidity here:** [**https://perps.synthswap.io/#/liquidity**](https://perps.synthswap.io/#/liquidity)
   {% endhint %}

<figure><img src="/files/KeJ4L8jPQS3J3fDuphLb" alt=""><figcaption></figcaption></figure>

{% hint style="success" %}
2\. **Stake SLP for extra rewards:** [**https://perps.synthswap.io/#/liquidity**](https://perps.synthswap.io/#/liquidity)
{% endhint %}

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

<div align="center"><figure><img src="/files/qrILt88AEavATWdKZ0jF" alt="" width="334"><figcaption><p>Approve Token First.</p></figcaption></figure></div>

<div align="center"><figure><img src="/files/TqCwFwPZJjNsxlWzZYX7" alt="" width="335"><figcaption><p>Confirm Staking.</p></figcaption></figure></div>

{% hint style="warning" %}
To prevent sudden withdrawal of Liquidity there is a 24h redemption period for the withdrawal of SLP.
{% endhint %}