From cae1ab3a7345dbcb9a9043baad3b185a90b97ff2 Mon Sep 17 00:00:00 2001 From: Good Sanai Date: Wed, 30 Nov 2022 06:37:14 +0000 Subject: [PATCH] GitBook: [#68] No subject --- execution.md | 7 ++++--- 1 file changed, 4 insertions(+), 3 deletions(-) diff --git a/execution.md b/execution.md index 427e0c1..8c08934 100644 --- a/execution.md +++ b/execution.md @@ -68,15 +68,15 @@ Opening a position will transfer the required margin to a dedicated on-chain con The initial margin is calculated based on the matched prices ("Mark Price"). -You can post margin in many stablecoins, which will then be automatically swapped into USDC. +You can post margin in many stablecoins, which will then be automatically swapped into USDC using a third-party DEX (e.g. Uniswap), with the maximum amount of the stablecoin to meet the USDC margin requirement specified by you. ## Closing a position Closing a position will calculate the PnL based on the best price offered by the Liquidity Pool and transfer it to the trader, together with the margin posted. -A trader may request the PnL to be transferred in a stablecoin other than USDC, in which case the PnL (together with the margin) will be swapped into the requested stablecoin and transferred to the trader. +You may request the PnL to be transferred in a stablecoin other than USDC, in which case the PnL (together with the margin) will be swapped into the requested stablecoin using a third-party DEX (e.g. Uniswap), with the minimum amount of the stablecoin specified by you, and transferred to you. -A trader can not lose more than the margin posted. +You can not lose more than the margin posted. ## Liquidation @@ -96,4 +96,5 @@ Trading at uniwhale is subject to the following constraints: * A trader can carry at most $\[. ] of margin across pairs. * Minimum position (after leverage) is $\[. ]. * A position has the maximum percentage PnL of \[. ]. +* The maximum possible PnL of all open positions (long and short) across the platform cannot exceed the prevailing market value of Liquidity Pool.