> For the complete documentation index, see [llms.txt](https://pleasing.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pleasing.gitbook.io/docs/solutions/interactive-blocks.md).

# Spot Trading

To give on-chain users a physical-shop experience for gold—tight quotes, low slippage, and instant settlement—without needing to manage centralized order books or suffer from DEX/CEX price volatility, Pleasing Market is working with LayerZero and Chainlink to deliver a precious metal platform.

* Rails: LayerZero OFT Standard for PGOLD + Chainlink CCIP for USDpm + Chainlink Data Streams (real-time XAU pricing).
* Asset: PGOLD = 1 troy ounce per token (fixed denomination).
* Settlement: On-chain, near-instant; inventory-backed (no mint/burn during spot trades).
* Stablecoin leg: USDpm (in-ecosystem) with 1:1 USDT redemption (post-trade off-ramp available).

> LayerZero OFT: <https://docs.layerzero.network/v2/developers/evm/oft/quickstart>
>
> Chainlink Data Streams: <https://data.chain.link/streams/xau-usd-forexprice-streams>

### Buy Flow

1. Open the Spot Trading page.
2. Connect your Web3 wallet.
3. Select chain (e.g., Arbitrum).
4. Enter amount of USDT to spend (USDpm leg optional; see off-ramp below).
5. Review quote: Real-time Chainlink price + included margin/fees → shows estimated PGOLD you’ll receive.
6. Approve USDT (one-time per token/contract).
7. Confirm within 60s to lock the quote.
8. Settle: Smart contract executes; PGOLD is sent to your wallet immediately.
9. Receipt: On-chain tx + in-app confirmation.

Edge cases:

* If price moves beyond guard-band before confirmation, you’ll receive a fresh quote.
* If inventory is insufficient, you’ll see max purchasable or a waitlist/partial fill option.

### Sell Flow

1. Open the Spot Trading page.
2. Connect your Web3 wallet.
3. Select chain.
4. Enter amount of PGOLD to sell.
5. Review quote: Real-time Chainlink price + included margin/fees → shows estimated USDpm you’ll receive.
6. Approve PGOLD to the contract (if first time).
7. Confirm within 60s to lock the quote.
8. Settle: Smart contract executes; USDpm is sent to your wallet.

Optional off-ramp (USDpm → USDT, 1:1):

* Go to the Redemption page, submit USDpm → contract.
* Security check (source-of-funds and policy screens).
* USDT release within T+1 \~ T+2 upon clearance.

### FAQs

<details>

<summary><strong>Does spot trading mint or burn PGOLD?</strong></summary>

No. It uses **existing inventory**. Mint/burn occurs only in **issuance/redemption** programs.

</details>

<details>

<summary><strong>Why do I sometimes see a max buy size?</strong></summary>

Inventory is **shared across clients** and capped per chain to keep settlement instant and resilient.

</details>

<details>

<summary><strong>What if my quote expires?</strong></summary>

Click **Re-quote** to refresh the price (new 60s window).

</details>

<details>

<summary><strong>Can I trade directly PGOLD on supported DEXs/CEXs?</strong></summary>

Yes, but those markets can have **slippage and huge volatility**. The Spot page is optimized for **tight execution** using inventory and protected quotes.

</details>

<details>

<summary><strong>How fast is settlement?</strong></summary>

On-chain confirmation speed + contract execution. Typically **seconds to a minute**, depending on network conditions.

</details>

<details>

<summary><strong>How do fees work?</strong></summary>

Your quote **includes** margin/fees. You only add **gas**.

</details>