Placing Orders

This page walks through how to open a Shinsu position. You can place market orders that fill right away, or limit orders that wait and fill later once a price condition you set becomes true. A condition can follow the underlying asset price or the token's own share price.

Your wallet authorizes an order, and the on-chain program handles the assets needed to execute it under its rules. A conditional order can escrow funds while it waits for its price condition; the app shows what you are committing before you confirm.

1. Connect

Start by connecting your wallet to the app. Once connected you will see your balances and the available tokens.

connect wallet button

2. Select the asset

Choose the asset your leveraged token will track, its direction (long or short), and its leverage level.

asset selector with direction and leverage highlighted

3. Specify details

There are two ways to size your order. Each has an optional bound on what you pay or receive.

3A. Specify shares

Here you say how many tokens you would like to receive.

• Shares only: enter the number of shares you want. The USDC cost can be higher than the estimate shown before execution.
• Shares with a spending cap: enter the number of shares you want, plus the maximum amount of USDC you are willing to spend to get them. If the cost comes out above your cap, the order will not go through.

shares input with spending-cap field highlighted

3B. Specify USDC

Here you say how much USDC you would like to spend, and the app estimates how many shares that buys at the current price.

• USDC only: enter the amount you want to spend. The number of shares received can be lower than the estimate shown before execution.
• USDC with a minimum received: enter the USDC amount, plus the minimum number of shares you will accept in return. If the order would give you fewer shares than that, it will not go through.

USDC input with minimum-received field highlighted

4. Place the order

Finally, choose how your order should execute:

4A. Market

After entering your amount, review the estimate and select Buy. A market order attempts to fill immediately, subject to any spending cap or minimum received you set above.

4B. Limit

Set the share price condition at which you want the order to execute. You can also set an underlying-asset execution price cap to limit the price paid when the order reaches Phoenix. If the conditions are not met, the order remains open until they are met, you cancel it, or it expires.

order-type toggle with price-condition inputs highlighted

5. Manage your position

Once your order fills, you hold Shinsu tokens in your wallet. You can hold them, transfer them to a supported app or wallet, or close your position for USDC.

position row with close action highlighted