Getting Started

SMv3 Step-by-Step Guide

Quick Start Overview

This simplified guide provides a streamlined approach for interacting with SMv3. Note that "Proxy" refers to the Synthetix Perps v3 market proxy.

Initial Setup

1. Account Creation: Initiate a Synthetix v3 Account using Proxy.createAccount.

2. Permission Granting: Assign admin permission to Synthetix Exchange's Engine via Proxy.grantPermission.

   • Efficiency Tip: Steps 1 and 2 can be combined into a single transaction using Synthetix v3's TrustedMulticallForwarder, a feature co-developed by Synthetix Exchange.

Trading Preparation

1. Collateral Approval: Approve the Engine to manage your trading collateral (e.g., $USDC, $snxUSD, $snxBTC, $snxETH) using IERC20.approve.

2. Collateral Deposit: Deposit your trading collateral with Engine.modifyCollateral.

Trading Execution

1. Commit Async Order: Execute trades (one at a time, as per Synthetix restrictions) using Engine.commitOrder.

   • Batching Capability: Steps 4 and 5 can be processed together, thanks to the multicall functionality of the Synthetix Exchange Engine.

Programmatic Interaction Guide

For those looking to interact programmatically, here are detailed steps with corresponding code examples:

1. Creating a Synthetix v3 Account
2. Granting Synthetix Exchange Engine Admin Permission
3. Approving Engine for Collateral Spend
4. Depositing Supported Collateral
5. Opening a Position via Async Order
6. Credit Funding for Conditional Order Execution
7. Debiting Account to Return Credited Funds
8. Defining a Conditional Order
9. Executing a Valid Conditional Order

This guide aims to facilitate a clear and efficient journey through SMv3’s setup and trading processes.