Aark Digital Renewal User Guide

GM Aarkadians!

Just a few days ago, Aark Digital launched a renewal version with new features and design updates with a great vision to become the best on-chain Futures exchange.

As such, the team decided to publish a guideline for Aarkadians to explore the new environment. Now, let’s dig in!

Before the Journey Begins

Terms of Use

Before starting your journey at Aark Digital, you must read ‘Aark Terms of Use’ and click the ‘Agree’ button.

Enable Gasless Trading

Aark Digital provides the Gasless Trading feature for a seamless trading experience. Gasless Trading allows traders to open positions faster by bypassing the following hurdles:

  • Paying gas fees in ETH
  • Wallet signature process to approve the transaction

To activate Gasless Trading, you will be asked to set up a password that you will use for trading. For security reasons, we recommend you change the password every week. If there is no activity for 3 weeks, you will be asked to reset your password.

Please refer to the image below for the details:

How to Begin

1. Deposit Collateral to Trade Futures

Step 1: Go to the Account page, and under the Futures Account section, click on Deposit.

Step 2: Select an asset from a menu under the Asset section and enter the amount to deposit. If this is your first time depositing a certain asset, you must enable it. Click on “Enable” at the bottom to sign the approval from your wallet.

Step 3: To check the new balance of your deposited collateral, click ‘Futures’ from the Menu on the left. From this page, you can monitor the overall status of your Futures account.

2. Deposit Collateral to Provide Liquidity

Step 1: Depositing collateral into your LP account is similar. Go to the ‘Account’ page and under the LP Account section, click on Deposit.

Step 2: Select an asset from a menu under the Asset section and enter the amount to deposit. If this is your first time depositing a certain asset, you must enable it. Click on “Enable” at the bottom to sign the approval from your wallet.

Step 3: To check the new balance of your deposited collateral, click ‘LP’ from the Menu on the left. From this page, you can monitor the overall status of your LP account.

3. Withdraw from Futures account

Step 1: Go to the Account page, and click Futures from the Menu on the left. From the Assets list, click Withdraw for the asset you wish to withdraw.

Important Note:
The numbers in Withdrawable and Balance will be different if you are holding any Futures position. Balance signifies the total value of your deposited collateral. Withdrawable shows the collateral value after subtracting the required margin value to uphold the Futures position.

Step 2: Select the asset you want to withdraw, put in the amount, and click on the “Withdraw” button. Confirm the transaction on your wallet to complete the withdrawal.

3. Withdraw from LP account

Step 1: Go to the Account page, and click LP from the Menu on the left. From the Assets list, click Withdraw for the asset you wish to withdraw.

Step 2: Select the asset you want to withdraw, put in the amount, and click the “Withdraw” button. Confirm the transaction on your wallet to complete the withdrawal.

Open Futures Position

First Basic: Creating Market Order

Step 1: Go to the Futures Page, and on the upper left corner, click the drop-down menu to select the pair you wish to trade.

Step 2: On the right side, there is a section for order setting. Choose between Long and Short, then choose Market.

Step 3: Did you know? You can now leverage up to 50x. Click the gear icon to open the Trade Settings toolbox. Type in manually or move the slide bar to adjust the maximum leverage.

Step 4: To adjust the order size, either type in numbers in the box under Amount or simply adjust the leverage by choosing the ratio in boxes or moving the slide bar.

Step 5: After typing in all of the information, click on the “Place Order” button at the bottom. Then your order will be created instantly without asking you to sign again from your wallet. All thanks to Gasless Trading you have activated in the beginning.

Checking Position Status

Underneath the chart, you can see the Position Status section. You can monitor your current position from the Position tab. On the next, there is the Open Order and Trade History tab. The Open Order shows the unfilled orders, such as Limit Orders. The Trade History lists your previous trading activities.

Advanced Order Type 1: Limit Order

Creating a limit order entails the same procedure as a market order, except that it requires setting a target price that the order should be filled.

Step 1: Choose between Long and Short, then choose Limit.

Step 2: Type in the price that you wish to trigger the order.

Step 3: Your order will be pending until the mark price hits the price that you have designated. If you wish to cancel your limit order, find the order from the Open Order tab underneath the chart and press the ‘x’ button on the right.

Advanced Order Type 2: TP/SL

TP/SL(Take-Profit/Stop-Loss) Order, also known as, Trigger Order, is another type of Futures order you can use for hedging risks. Take-profit can help you secure targeted profits by allowing you to set up a trigger price at which the position automatically closes. Stop-loss lets you create a cap on losses to prevent your margin balance from being liquidated. You can manually set this up by creating an order using Stop-market and Stop-limit. However, here we’ll dig into an easier alternative.

Step 1: Once you open a position, go to the Position tab underneath the chart and find a position for which you will set up TP/SL.

Step 2: On the right side of the tab, there is the ‘TP/SL’ column. Click ‘add’ to open the ‘Set TP/SL’ toolbox.

Step 3: In the toolbox, for each section of the Take Profit and the Stop Loss, you can either type in the trigger price manually or designate the target PnL in percentage that will put a cap on both profits and losses. Then, press ‘Confirm’ at the bottom.

Close Futures Position

Step 1: Go to the Futures Page. On the right, click Short. Then, choose the amount of position you want to close by entering the amount or changing the leverage. Click Place Order to execute the closing order.

Step 2: You can also close your position by clicking the “Close” button on the Positions list, which will be closed according to the market price.

For the full tutorial on closing Futures positions, please refer to the video below.

Open ALP Position

Step 1: Link your wallet by clicking “Connect Wallet” in the upper right corner, then go to the “Liquidity” page. In the “Open ALP” section, type in the amount of the ALP position you want or adjust the leverage to increase your ALP position value. Then, click the “Place Order” button to open the position.

Step 2: Pushing the Place Order button will direct you to the MetaMask pop-up page, where you must confirm the transaction. After confirming, you can see that your ALP position is now open. For the full tutorial video on the process, please refer to the video below.

Close ALP Position

Step 1: Go to the “Liquidity” page. In the “Close ALP” section, type in the amount of the ALP position you want to close or adjust the leverage to decrease the ALP position value. Then, click the “Place Order” button to execute.

Step 2: Pushing the Place Order button will direct you to the MetaMask pop-up page, where you must confirm the transaction. After confirming, you can see that your ALP position is now closed or decreased in value. For the full tutorial video on the process, please refer to the below.

TP/SL

How to Place a Stop Market Order

Step 1: Select Stop Market in the Order Type menu.

Step 2: Type in the Stop Price that will trigger your Market Order.

Step 3: Type in the amount, select from the leverage ratio, or use the slide bar to choose the order size. Press “Place Order” to complete.

Step 4: Your order will be visible in the “Open Order” tab on the list under the chart.

How to Place a Take-Profit/Stop-Loss Order

Step 1: Go to the “Positions” tab on the list. Click on the “Add” button under the “TP/SL” section.

Step 2: Type in the Trigger Price or the percentage to lock in the range of profits and losses. Press ‘Confirm’ to set up TP/SL orders.

Step 3: Once the order is set up, you can check the position status under the chart.

How to Place a Stop Limit Order

Step 1: Select Stop Limit in the Order Type menu.

Step 2: Type in the Stop Price that will trigger your Limit Order.

Step 3: Type in the Limit Order Price in the box underneath “Price.”

Step 4: Type in the amount, select from the leverage ratio, or use the slide bar to choose the order size. Press “Place Order” to complete.

Step 5: Once the order is set up, you can check the position status under the chart.

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