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3. Open a Position ('Buy' Page)
There are two ways to open a position using Perpetual Pools:
- 1.Mint a pool token natively on Mycelium, or
- 2.
Luckily, our app allows you to do both, and is able to direct you to the Balancer token you're after in a few clicks.
The Buy page is where you first arrive when the app launches. It features an order form which generates your pool token order based on your inputs.
Start filling it out by choosing a Market. The market field determines the asset your tokens will track. There's a bunch of markets under the dropdown:
After you've chosen the market, pick a Side. This will determine whether you get a long token or short token:
Remember that long tokens profit when the asset's price goes up and short tokens profit when the assets price goes down.
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Next, consider the multiple you want the tokens to outperform your chosen asset by. The Leverage bar shows which levels are available.
In some cases, an additional drop down will appear called Market type.
If you see this dropdown, it means that more than one pool exists for the market and leverage you have inputted. The dropdown lists the pool parameters for the duplicate pools. Select the parameters that you're after.
The creator of a pool has the ability to set a bunch of pool parameters that will determine how the pool tokens perform. Learn about these parameters in the 'Deploy a New Market' tutorial.
Now, enter the amount you'd like to spend. The interface will display the pool token that you're after.
Finally, decide if you want to mint the pool tokens natively on Mycelium, or buy the pool tokens instantly on Balancer. If you want your pool tokens right away, it's best to buy them on Balancer.
I selected 'Mint on Mycelium'
I selected 'Take me to Balancer'
Before you finish and sign-off on the transaction in your wallet, you'll notice a countdown timer. This is how long you have before your tokens are minted and ready to claim.
When you're ready, complete your order by clicking 'Mint on Mycelium'.
You might have to "unlock" funds before you’re given the option to buy the tokens. Don't worry – you only have to do it once for each settlement asset.
There's a number of notifications to let you know that your mint was successful. The first looks like this:
Don't worry about waiting around until your tokens ready, we'll hold them in escrow for you. You'll be able to claim them from the portfolio page once the countdown has elapsed.
Selecting 'Take me to Balancer' will open a new tab to the Balancer pool that will allow you to buy the pool tokens.
You might have to "unlock" funds before you’re given the option to buy the tokens. Don't worry – you only have to do it once for each settlement asset.
Once your transaction has successfully executed, the tokens will live in your Web3 wallet. You might not see them at first if you haven't added the pool token to your wallet. You can view the addresses of each pool token here and manually add them to your wallet!