💵Trade
Mayfair supports both Swaps and Leverage Trading.
Last updated
Mayfair supports both Swaps and Leverage Trading.
Last updated
Mayfair is a decentralized exchange allowing trading without the need for a username or password. The platform uses an aggregate price feed which reduces the risk of liquidations from temporary wicks.
Token swaps on Mayfair are a simple way to exchange DTFs and tokens available in mDTF.
You can visit the Trade section and click on the "Swap" tab, this will open the interface to swap tokens with Zero Price Impact.
Short & Long DTFs with Mayfair's built in Leverage platform by visiting the Trade section.
Click on "Long" or "Short" depending on which side you would like to open a leverage position on.
Long trades profit from an increase in DTF price, while short sales profit from a decrease in the DTF price
After selecting Short/Long, key in the amount you want to pay and the leverage you want to use.
After opening a trade, you would be able to view it under your Positions list, you can also click on "Edit" to deposit or withdraw collateral, this allows you to manage your leverage and liquidation price.
Leverage for a position is displayed as (position size) / (position collateral)
Note that when depositing collateral into a long position, there is a 0.3% swap fee for the conversion of the asset to its USD value, e.g. ETH amount to USD value. This is to prevent deposits from being used as a zero fee swap. This does not apply to shorts.
You can close a position partially or completely by clicking on the "Close" button.
For Long positions, profits are paid in the asset you are longing.
For Short positions, profits will be paid out in the same stablecoin that you used to open the position.
Mayfair deducts a 0.1% fee for Opening and Closing a position. If a swap is needed when Opening / Closing a position then the regular swap fee would apply, 0.2% to 0.8% depending on whether the swap improves balance or reduces it.
There is also a "Borrow Fee" that is deducted at the start of every hour. This is the fee paid to the counter-party of your trade. The fee per hour will vary based on utilization, it is calculated as (assets borrowed) / (total assets in pool) * 0.01%. The "Borrow Fee" for longing or shorting is shown below the swap box.
You can also set stop-loss and take-profit orders by clicking on the "Close" button and selecting the "Trigger" tab. After creating a trigger order, it will appear in your position's row as well as under the "Orders" tab, you can edit it the order and change the trigger price if needed. If you close a position manually, the associated trigger orders will remain open, you would need to cancel them manually if you do not want the order to be active when opening future positions.
Note that orders are not guaranteed to execute, this can occur in a few situations including but not exclusive to:
The mark price which is an aggregate of exchange prices did not reach the specified price
The specified price was reached but not long enough for it to be executed
No keeper picked up the order for execution
Additionally, trigger orders are market orders and are not guaranteed to execute at the trigger price.
Liquidation Price is calculated as the price at which the (collateral - losses - borrow fee) is less than 1% of your position's size. If the token's price crosses this point then the position will be automatically closed.
