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Using the Exchange

Transparency at Open Mandi

Most exchanges keep their inner workings private. Open Mandi does the opposite. As an academic platform, we believe in full transparency — you can see exactly how the exchange operates, how much revenue it generates, and what's happening across the entire platform.

Our Commitment to Transparency

Open Mandi publishes real-time and historical data about its operations. This isn't just a marketing claim — it's built into the platform as a core feature. The Transparency Dashboard is available to everyone, even without an account.

What Data is Public?

The Transparency Dashboard displays the following information in real time:

  • Total registered users — how many people have accounts on the platform (no personal information is revealed)
  • Trading volume — total value of trades executed, broken down by market (gold futures, silver futures, USDT/USDC exchange)
  • Fees collected — total revenue earned by the exchange from maker fees, taker fees, and withdrawal fees
  • Current exchange rates — the live USDT/USDC exchange rate, including bid, ask, and mid-market price
  • Open interest — total number of open futures positions across gold and silver markets
  • Deposit and withdrawal volume — total funds flowing in and out of the platform

How to Read the Transparency Dashboard

The dashboard is organized into sections:

  • Summary cards at the top show key metrics at a glance: total users, 24-hour volume, total fees collected, and the current USDT/USDC rate
  • Volume charts show trading activity over time, so you can see trends and patterns
  • Fee breakdown shows exactly how much revenue each fee type generates
  • Market data shows depth and activity for each trading pair

Privacy and Anonymization

Transparency doesn't mean exposing personal information. All data on the Transparency Dashboard is anonymized:

  • User counts are aggregate numbers, not individual profiles
  • Trading volumes are totals, not tied to specific accounts
  • No email addresses, wallet addresses, or personal data is shown

Academic Research Use

The transparency data is ideal for academic research. Students and researchers can study real market dynamics, including:

  • How order books form and evolve
  • The relationship between trading volume and price movement
  • How fees affect trading behavior
  • Price discovery in thin markets
  • The economics of running an exchange

Visit the Transparency Dashboard to explore the data yourself.