# Welcome to AGDEX ## Overview AGDEX is a pioneering on-chain derivatives & swap protocol. It provides traders with zero slippage and high leverage trading services utilizing a synthetic architecture to improve capital efficiency.
## Quick links {% content-ref url="/pages/tHNbjF8rxGIoWNkgB7Ux" %} [What is AGDEX](/overview/what-is-agdex) {% endcontent-ref %} {% content-ref url="/pages/ALlf0QFiss2Y1AaQYvRe" %} [Our Highlight Features](/overview/our-highlight-features) {% endcontent-ref %} ## Get Started We've put together some helpful guides for you to get setup with our product quickly and easily. {% content-ref url="/pages/24rBqTauZzybhInHg0RD" %} [Start Trading](/for-traders/start-trading) {% endcontent-ref %} {% content-ref url="/pages/B6i3DY3UWjPLrcJ7UaC1" %} [Swap](/for-traders/start-trading/swap) {% endcontent-ref %} {% content-ref url="/pages/e7rdhEYGkBSjkJCY6R7i" %} [Open/Close Postion](/for-traders/start-trading/open-close-postion) {% endcontent-ref %} # What is AGDEX AGDEX, an on-chain derivatives protocol built on ATPOS, aims to provide traders with a smooth on-chain trading experience while allowing AGDEX Liquidity Providers (AGLP) to share the protocol's revenues. This is achieved through a range of features and benefits designed to cater to the diverse needs of all players in the market. # Our Highlight Features ## For Traders 1. **No Account Required**: AGDEX enables users to trader without registration, facilitating quick and convenient access to trading. 2. **High Leverage:** Depending on the token type, AGDEX offers up to 100X leverage, allowing traders to enhance their potential returns. 3. **Low Price Impact:** By utilizing concentrated liquidity from AGDEX Liquidity Providers and oracle feed price, the platform ensures that traders can enter and exit positions at market prices with low impact market rates. 4. **Versatile Assets:** By utilizing synthetic architecture, AGDEX takes any index assets as collateral and supports a wide range of asset types including BTC ETH PEPE and more. 5. **Decentralized Quotation:** To maintain transparent and stable pricing, AGDEX incorporates multiple data sources, such as mainstream oracles and self-quotation through leading exchanges. We use Pyth to ensure low latency and multiple price updates per second. ## For Liquidity Providers # Start Trading AGDEX is a decentralized exchange allowing trading without the need for a username or password.
Step 1. Connect Wallet If you do not have a wallet yet, you need to instaill a blockchain wallet supporting APTOS network **Browser Extension:**
Step 2. Open a position Visit and click top right button 'Connect Wallet' [Open/Close Position](https://docs.agdex.io/for-traders/start-trading/open-close-postion)
Step 3. Open a limit order [Open a Limit Order](https://docs.agdex.io/for-traders/start-trading/open-a-limit-order)
# Oracles AGDEX utilizes the decentralized Pyth network, which provides up-to-date token prices data to smart contracts on APTOS Mainnet. **Responsibilities of an oracle** * Updates, stores, and distributes up-to-date token prices relevant to the system. * Disables exchange functionality if prices are not fresh. * Provides functionality to perform exchange rate conversions. More about Pyth: # Open/Close Postion ## Open Position Click on "Long" or "Short" depending on which side you would like to open a leverage position on. * Long position * Earn a profit if the token's price goes up * Take a loss if the token's price goes down * Short position * Earn a profit if the token's price goes down * Take a loss if the token's price goes up After selecting your side, you can use any index token available in the dropdown menu as collateral , you will be able to see how much your collateral is worth in USD. Once you input your collateral and choose your leverage level, the quantity of the underlying asset will be calculated automatically. In the below example 5 APT worth $27.269 USD is being used to buy a 1x APT long position of size $27.269 USD.
The "Entry Price" is $93,811. The trading fee to open a position is 0.1% of the position size, similarly there is a 0.1% fee when closing the position. There is also a 'Reserving Fee Rate' that is deducted at the start of every 8 hour. This is the fee paid to the AGLP based on the the amount of reserve you choose. The resevering fee every hour will vary based on utilization, it is calculated as (assets borrowed) / (total assets in pool) \* 0.01%. While there are no price impacts for trades, there can be slippage due to price movements between when your trade transaction is submitted and when it is confirmed on the blockchain. Slippage is the difference between the expected price of the trade and the execution price, this can be customised by clicking on the "![](/files/chOoskIz1w0Bc7ugr1Dv)" icon at the top right of the page. ## Managing Positions
After opening a trade, you would be able to view it under your Positions list. You can also click on "TP" or "SL" to deposit or withdraw collateral, which allows you to manage your leverage and liquidation price. Leverage for a position is displayed as (position size + PnL- Fees) / (position collateral) ## Minimum Holding Time The setting of the minimum holding time is to prevent malicious arbitrage. The current minimum holding time is 15 seconds. ## **Closing a Position** You can close a position partially or completely by clicking on the 'Close' button. Profits are paid in the asset you paid as collateral ## **Liquidation** # Open a Limit Order ## How the Limit Order will be triggered When you open a Long position, set the take-profit price higher than your entry price on the Limit Order page, and set the stop-loss price lower than your entry price. When you open a Short position, set the stop-loss price higher than your entry price on the Limit Order page, and set the take-profit price lower than your entry price. ## How to open a Limit Order If you would like to open a position at certain price level, please click on the “Limit” Order function. As shown in the illustration below, please fill your trigger price at Price box.
Please confirm your order information and click “Long”. After creating an order, it will appear in "Open Orders" tab. You can click "Close" to to close the order.
# Swap
The swap function is as easy to use as any other defi protocol swap and users can choose any two index assets to swap. **Swap fee** The swap fee is a range of rates depending on whether the asset you are swapping is overweight or underweight in the AGLP pool relative to a pre-determined percentage. The range of fee rates varies from \[0.01%, 0.1%]. For example, suppose the pre-set percentage of ETH is 35% and the current total ETH position is approximately 37%. On the other hand, the pre-determined proportion of USDT is 25%, but the current USDT has a proportion of only 20%. If you use USDT to exchange ETH, this means that you are helping to rebalance the AGLP pool, so it will only charge a very small fee in such circumstances. # Fees & Pricing ## Fees ### S**wap** The swap fee varies from 0.01%\~0.1% depending on the proportion of the assets pool and which assets you want to swap. ### **Open/Close Position** The opening and closing fees are determined by the risk level of the token (risk level depends on its market value and liquidity). For details, please refer to {% content-ref url="/pages/mt52U4TsBcuoBUiD8kOt" %} [Assets/Pairs](/for-traders/start-trading/assets-pairs) {% endcontent-ref %} ### Liquidation Execution Fee The cost for liquidation execution is 1% of the position size. Keepers: Free until further notice ### **Reserving Fee** Charge per hour：(assets borrowed) / (total assets in pool) \* 0.01%. ### Funding Fee Charge or subsidy per hour： Position size \* Funding rate ## Pricing Oracle price feed provided by [Pyth](https://pyth.network/) # Assets/Pairs ## Cryptocurrencies
# Provide Liquidity # AGLP (Liquidity Token) ## What is AGLP The AGLP token is an ownership pass to the AGDEX liquidity pool. Each AGLP token held represents the liquidity provider's share of the pool. The price of an AGLP depends entirely on the price change of all the index tokens in the pool. If the price of a risky asset in the pool rises, the price of the AGLP rises. Conversely, the price of the AGLP falls. The asset pricing characteristics of AGLP are close to those of an ETF in traditional finance. ## Utility As the most important liquidity provider of the protocol, AGLP holders receive 50% protocol profits including: 1. Swap fees 2. Open/Close position fees 3. Reserving fees # How to buy/sell AGLP ## How to get AGLP token
Switch to 'Pool' tab and you will see a AGLP purchase window on the right hand side.
## Buy AGLP To make it easier for newcomers to get AGLP, we use the verbs "Buy" and "Sell". But in fact, this is not an ordinary trading action, the smart contract behind it is minting and burning AGLPs respectively. You can choose any of the index tokens to mint AGLP token. For example, if a user wants to pay 1000 USDT to buy AGLP, below 2 actions will be generated 1. 1000 USDT will be locked in the AGDEX protocol pool 2. 984.306905 AGLP token has been minted according to the latest exchange rate between AGLP and USDC ## Sell AGLP Same as above, selling AGLP means users want to burn their AGLP tokens to redeem their index assets. Liquidity providers has full rights to choose to redeem their assets back at any time. # Risk While holding AGLP enjoys protocol profits, there are two major risks you should be aware of. 1. AGLP is the counterparty to traders. In the short term, AGLP may experience significant fluctuations, but in the long term, it has the potential for continuous appreciation due to sharing 100% of the protocol's revenue. 2. The composition of LP includes next blue-chip assets, and when these assets experience a price drop, the price of AGLP will also decrease. # Rebate Mechanism Earn rebates through the AGDEX Trading Rebate program. ## How it works To create a referral code: * Go to the Rebate page * Enter the rebate code you will like to use * Link your wallet and copy your rebate link * Send your rebate link to social media platforms. * Fee rebate percentage: 20% Once you've created your code, click on the copy icon next to the code to get your rebate link, it should look something like this: agdex.io/trade?code=your code. You can share this link on any platform, e.g. Twitter, Telegram. When a user clicks on your link, your rebate code would be stored with the user's account. When the user makes a trade you would earn rebates from their trading fees. You will continue to earn rebates even if the user uses another device later on as the referral code is stored on the contract the first time the user makes a trade. # Funding Rate # Synthetic Architecture ### AGDEX uses Synthetic architecture when opening positions. ### Risk Control # FAQ **Q: What is AGDEX** A: AGEX is a pioneering on-chain derivatives & swap protocol. It provides traders with zero price impact and high leverage trading services utilizing synthetic architecture to improve capital efficiency. **Q: Which chain is AGDEX on?** A: We are currently deployed on APTOS Network. **Q: Do I need to register to use it?** A: No need, you just need to connect your wallet. **Q: What are the advantages of AGDEX for traders?** A: It provides zero price impact and high leverage trading services. **Q: What is AGLP?** A: AGLP is an LP Token representing a robust portfolio of high-liquidity assets **Q: Any airdrop?** A: Stay turned # Roadmap # Smart Contract Address # Community & Collaboration Discord: Twitter: Medium: ### Media Kit # Terms and Conditions # Aduit {% file src="/files/T28xULR1fEp9nbIsYBoE" %}