◆Open Mandi|Documentation
Launch App

Guide

Getting Started with Open Mandi

Open Mandi is an academic cryptocurrency-based commodities exchange where you can trade gold and silver futures using stablecoins. This guide will walk you through everything you need to get up and running.

What is Open Mandi?

Open Mandi is a learning-focused trading platform. It lets you experience how a real commodities exchange works, but in a safe, low-stakes environment. You trade with small amounts of USDT and USDC (two popular stablecoins pegged to the US dollar), and you can buy and sell futures contracts for gold and silver.

Because this is an academic project, we've designed it with strict limits to keep things safe and educational. You can't deposit more than $5 at a time, and you need to keep your balance small. The focus is on learning, not on making money.

Step 1: Create Your Account

Sign up with your email address and create a password. Once your account is set up, you'll have access to the exchange dashboard where you can see your balances, markets, and trading tools.

Step 2: Make Your First Deposit

To start trading, you need to deposit some funds. Open Mandi accepts two stablecoins:

  • USDT (Tether) — a stablecoin pegged to the US dollar
  • USDC (USD Coin) — another stablecoin pegged to the US dollar

There are a couple of rules to keep in mind:

  • You can deposit a maximum of $5 per deposit
  • You can only deposit when your account balance is below $1

These limits are intentional. They keep the platform educational and low-risk. You can read more about why in our Deposits & Withdrawals guide.

Step 3: Explore the Dashboard

Your dashboard is your home base. From here, you can see your current balances in USDT and USDC, view the markets for gold and silver futures, and access all the tools you need.

Step 4: Exchange Stablecoins (Optional)

If you deposited USDT but want to trade with USDC (or vice versa), you can use the built-in stablecoin exchange. The exchange rate between USDT and USDC isn't fixed at 1:1 — it's determined by other users buying and selling on the order book, just like a real market.

Learn more about how this works in our Stablecoin Exchange guide.

Step 5: Make Your First Trade

Navigate to either the Gold Futures or Silver Futures market. You'll see an order book showing what other traders are willing to buy and sell at. You can:

  • Go long — buy a futures contract if you think the price will go up
  • Go short — sell a futures contract if you think the price will go down

Don't worry if this sounds complicated — our Futures Contracts guide explains everything in plain English.

Step 6: Monitor Your Positions

After placing a trade, you can track your open positions in the Positions & Orders page. You'll see your entry price, current profit/loss, and you can close your position at any time.

Withdrawing Your Funds

When you're ready to withdraw, there's one rule: your account balance must be at least $10. This threshold exists to encourage active participation and learning before withdrawing.

What's Next?

Now that you know the basics, explore these topics to learn more: