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To interact with Priest.trade, your wallet requires two primary assets:
  1. MON: The native token of the Monad network, used to pay network gas fees for executing transactions.
  2. USDC: Native Circle USDC on Monad (0x754704Bc059F8C67012fEd69BC8A327a5aafb603), used as margin collateral for trading perpetuals and for depositing into the Counterflow LP Vault.

1. Acquiring MON for Gas

Every transaction on Monad (approvals, opening positions, cancelling orders, claiming rewards) consumes a tiny amount of gas paid in MON. Because Monad processes 10,000 transactions per second with low fees, a single MON token can cover hundreds or thousands of transactions.

On Monad Mainnet

  • Centralized Exchanges: Withdraw MON directly to your Monad EVM address from supported exchanges listing MON.
  • Cross-Chain Bridges: Use official Monad cross-chain bridges from Ethereum, Arbitrum, Solana, or Base to bridge native ETH/USDC and swap into MON on Monad DEXes.

On Monad Testnet

  • Obtain free testnet MON from the official Monad faucet:
    • Visit the official Monad testnet faucet.
    • Enter your EVM address (0x...).
    • Receive 1–5 testnet MON to cover transaction fees.

2. Acquiring USDC for Trading Collateral

All perpetual futures positions on Priest.trade are denominated, margined, and settled in USDC.
  • Token Standard: ERC-20
  • Decimals: 6 (1 USDC = 1,000,000 units or 1e6)
  • Mainnet Contract Address: 0x754704Bc059F8C67012fEd69BC8A327a5aafb603

Why Native Circle USDC?

Priest.trade integrates native Circle USDC on Monad rather than wrapped or bridge-specific synthetic assets. Native USDC offers:
  • Zero depeg or bridge counterparty risk.
  • Deep liquidity and direct redemptions through Circle.
  • Full fungibility with the broader Monad DeFi ecosystem (Uniswap, lending protocols).

How to get USDC on Monad Mainnet

  1. Bridge from other EVM chains: Use Stargate, Across, or Circle CCTP to bridge USDC directly from Ethereum, Arbitrum, or Base to your Monad address.
  2. Swap on Monad: If you have MON or other ecosystem tokens, swap them for USDC on Uniswap on Monad.

3. Testnet MockUSDC Faucet

On Monad Testnet, Priest.trade uses a dedicated MockUSDC contract (0x534EEE2DC77854015A398B9DD6872eF1498B6764) with a built-in public faucet function.

How to claim Testnet MockUSDC:

  1. Connect your wallet to priest.trade on Monad Testnet.
  2. In the top navigation bar, click the Faucet button.
  3. Confirm the free mint transaction in your wallet.
  4. You will immediately receive 1,000 MockUSDC in your wallet ready to trade!
  5. You can also call the faucet directly on-chain via the block explorer:
    • Call faucet() or mint(address to, uint256 amount) on MockUSDC.

Account Balances & Margin Security

When you trade on Priest.trade:
  • No Custodial Deposit Account: Unlike centralized exchanges, you do not need to deposit funds into an opaque centralized platform balance before trading.
  • Per-Trade Margin Pull: When you open a position, PerpesEngine pulls only the specified collateral (collateralUsdc + fee) directly from your wallet via ERC-20 transfer.
  • Isolated Margin: Each position’s margin is isolated in that specific market’s vault. When you close your trade, your collateral and profits are transferred directly back to your wallet address.