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Get trading on Priest.trade in less than 5 minutes. This walkthrough guides you through connecting your wallet, acquiring test or mainnet funds, placing your first leveraged position, and managing it.

Step 1: Connect your wallet

  1. Open priest.trade in your browser.
  2. Click Connect Wallet in the top-right corner.
  3. Choose your preferred connection method:
    • Privy Embedded Wallet: Sign in seamlessly with your email, Google, Twitter, or passkey. Privy automatically provisions a non-custodial EVM wallet.
    • External EVM Wallet: Connect Rabby, MetaMask, Phantom (EVM), Coinbase Wallet, or any injected EVM provider.
  4. Ensure your wallet is connected to the Monad network (Chain ID: 143 for mainnet, 10143 for testnet). The app will prompt you to switch if needed.
For detailed wallet troubleshooting, see Connecting Your Wallet.

Step 2: Acquire MON and USDC

To trade on Priest.trade, you need two assets:
  • MON: The native gas token of Monad, used to pay network fees (fractions of a cent per transaction).
  • USDC: Native Circle USDC on Monad (0x754704Bc059F8C67012fEd69BC8A327a5aafb603), used as margin collateral for all perpetuals positions.

On Monad Testnet

If you are testing on Monad Testnet:
  1. Obtain testnet MON from the official Monad Testnet faucet.
  2. In the Priest.trade app header, click Faucet to mint MockUSDC straight to your wallet.

On Monad Mainnet

Bridge or transfer native USDC and MON to your Monad address using official ecosystem bridges.

Step 3: Select a market

Navigate to the Trade tab or browse the Markets discovery page:
  • Warmup Markets: Newly launched tokens within their first 24 hours (leverage capped at 10x for safety).
  • Active vAMM Markets: Primary-rail tokens with mature volume (leverage up to 40x).
  • Graduated Markets: Tokens that have graduated to Uniswap v4 spot liquidity and the secondary oracle engine.
  • Listed Markets: Community-listed tokens trading off Uniswap v3/v4 pools.
Click any market row to load the trading terminal, live candlestick chart, and order form.

Step 4: Place your first trade

  1. On the right-hand order panel, select your trade direction:
    • Long (Green): You profit if the token price rises.
    • Short (Red): You profit if the token price falls.
  2. Choose your order type:
    • Market: Fills immediately against the vAMM or secondary engine.
    • Limit: Sets a specific target entry price.
  3. Enter your Margin Collateral in USDC (e.g. 50 USDC).
  4. Adjust the Leverage Slider (e.g. 5x).
    • Your Position Size (Notional) will automatically calculate: Notional=Collateral×Leverage\text{Notional} = \text{Collateral} \times \text{Leverage} (e.g. 50×5=250 USDC50 \times 5 = 250\text{ USDC}).
  5. Review your estimated entry price, price impact / slippage, trading fee (0.10%), and liquidation price.
  6. Click Approve USDC (one-time approval) and then Open Long or Open Short.
  7. Confirm the transaction in your wallet. Thanks to Monad’s 1-second block times, your order will confirm almost instantly!

Step 5: Manage your position

Once your order confirms, your live trade will appear in the Positions table beneath the chart:
  • Entry Price: Your execution price.
  • Mark Price: Current mark price of the contract.
  • Unrealized PnL: Real-time dollar and percentage profit or loss.
  • Liquidation Price: The price at which your position becomes eligible for liquidation. Keep your collateral healthy to avoid liquidation!
  • Add / Remove Collateral: Click the + or - buttons next to your margin to increase your buffer or withdraw excess profits.
  • Set TP / SL: Click Set TP/SL to configure automated on-chain Take Profit and Stop Loss triggers.
  • Close Position: Click Market Close or Limit Close to exit your position and return your margin plus realized profit to your wallet.

What’s next?