⚙️How AshPerp Works

• Trades are opened with USDC collateral, regardless of the trading pair.

• The leverage is synthetic and backed by our Vault. USDC is taken from the vault to pay for the traders’ profits or sent to the vault if the PnL is negative.

💹AshPerp Oracle🛡️Perpetual Vault

Trading Parameters

Parameter	Metric
Min Position Size	1000
Max Collateral	5000
Max OI	Dynamic
Min Leverage	2
Max Leverage	100
Max Positions per Pair	3
Maximum SL	80%
Maximum TP	900%

Trading Flow

Currently, AshPerp only supports those types of orders:

• Market: To be used to open a trade immediately. It will open at the market price + spread.

• Limit: To be used when you want to go long at a lower price than present, or to go short if the price reaches a higher price than present. The execution price is the determined limit price + spread.

• Stop: To be used when you want to go long if the price reaches a higher price than present, or to go short if the price reaches a lower price than present. You might want to use this to long a breakout, or short a breakdown. The execution price is the determined stop price + spread.

Open a market order

• When a user creates a market order, their order is sent to the AshPerp’s servers.

• The price will be fulfilled off-chain via our oracle system, and the fulfilled order is sent to the trading contract afterwards.

• A small fee will be charged for opening an order.

Open a limit / stop order

• Users initiate a trade by sending their order to the Trading Contract and paying the associated gas fee. Our Matching bots then receive the order and wait until the price aligns with the user's specified price.

• When the price meets the user's criteria, the Matching bots sign off on this price and forward it to the Trading Engine. The Trading Engine, in turn, contacts the oracle bots to gather their signatures and confirm the price. Following this verification, the Trading Engine proceeds to submit the transaction to our Trading Contract. Before opening the order, the Trading Contract conducts a final verification of the price.

• A small fee will be charged for opening an order.

Close an order

• When a user closes their order, the close order awaits fulfillment through the price feed system, after which the callback is triggered to officially close it.

• A small fee will be charged for closing an order.

Update Take Profit / Stop Loss Price

• Users can modify the take profit (TP) or stop loss (SL) price of an order, and the new parameters will be stored in the contract.

Take Profit / Close Stop Loss

• When an order reaches the take profit or stop loss condition, Matching bots will initiate the order and submit a request to our system to close the order.

• When the price meets the TP/SL price, the Matching bots sign off on this price and forward it to the Trading Engine. The Trading Engine, in turn, contacts the oracle bots to gather their signatures and confirm the price. Following this verification, the Trading Engine proceeds to submit the transaction to our Trading Contract. Before opening the order, the Trading Contract conducts a final verification of the price.

• A small fee will be charged for closing an order.

Adjust Leverage

• Adjusting the leverage of your order keeps the position size constant; only the amount of collateral is altered to match the new leverage setting. Currently, AshPerp permits only a reduction in leverage. To lower the leverage, traders must add a proportional amount of collateral to the position.

• This adjustment in collateral affects the Liquidation Price accordingly.

Liquidations

• When an order reaches the liquidation price, Matching bots will initiate the order and send a request to our system to liquidate the order. The Liquidation Price Distance is calculated as follows:

$$LiquidationPriceDistance=\frac{OpenPrice*(Collateral*90\%-BorrowFee)*Leverage}{Collateral}$$

• The liquidation price is determined as follows:

  • For Long positions: Open Price - Liquidation Price Distance

  • For Short positions: Open Price + Liquidation Price Distance.

• When the price meets liquidation price, the Matching bots sign off on this price and forward it to the Trading Engine. The Trading Engine, in turn, contacts the oracle bots to gather their signatures and confirm the price. Following this verification, the Trading Engine proceeds to submit the transaction to our Trading Contract. Before opening the order, the Trading Contract conducts a final verification of the price.

• A small fee will be charged when your order is liquidated.