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faq

questions, answered.

A non-comprehensive list of possible questions regarding the Crystal protocol. Further information can be found on our official documentation.

What is Crystal Exchange?
Crystal Exchange is a fully onchain central limit order book built on Monad. It combines self-custodial trading, transparent execution, permissionless access, and the familiar experience of an order book exchange.
How do I buy the Monad token?
You can buy MON through Crystal by opening the Crystal app, connecting an EVM-compatible wallet, funding it on Monad, and placing an order in a supported MON market. Monad limit orders use Wrapped Monad because Crystal markets settle with ERC-20 tokens.
Where can I trade Monad onchain?
Crystal lets you trade Monad ecosystem assets onchain from your own wallet. Instead of depositing into a centralized exchange account, you connect a wallet and trade through Crystal's onchain order book.
Can I buy Monad without a centralized exchange?
Yes. Crystal is non-custodial, so you can trade supported Monad markets directly from an EVM wallet without creating a centralized exchange account or handing over custody of your assets.
How do I swap MON and Wrapped Monad?
Open the swap tab in the Crystal app and select MON and Wrapped Monad as the two assets. Wrapped Monad is pegged 1:1 to MON, so converting between them works like a standard token swap with no wrapper fee.
What is Wrapped Monad?
Wrapped Monad is an ERC-20 wrapper of Monad, pegged 1:1 and redeemable with no fee at any time. This gives the token greater flexibility in DeFi and lets it work with smart contracts designed for ERC-20 assets. Limit orders for Monad are filled using Wrapped Monad because Crystal markets are built around ERC-20 tokens.
What sets Crystal Exchange apart?
Crystal combines the capital efficiency of a central limit order book with the permissionlessness and security of blockchain technology. It also improves exchange UX while avoiding the custodial risks of centralized exchanges.
Why Monad?
Crystal is deployed solely on Monad because of its performance while maintaining a high degree of decentralization. To avoid liquidity fragmentation, there are no near-term plans to deploy on other chains. Instead, third-party bridge integrations can support seamless trading of cross-chain assets across EVM-compatible chains.
How can I start trading?
Open the Crystal app with an EVM-compatible wallet installed and funds on the Monad blockchain. From there, choose a market, review liquidity, and place a market or limit order.
Do I control my assets?
Yes. Crystal is non-custodial, meaning you retain full ownership and control of your assets at all times. Crystal does not require deposits and withdrawals like centralized or hybrid exchanges do.
What are the fees?
Crystal's fees are competitive across both CEXs and DEXs. The maker fee is -0.005%, and the taker fee ranges from 0.01% to 0.035% depending on the market.
Is Crystal safe to use?
Crystal's smart contracts are audited, immutable, and operate onchain without reliance on external dependencies. Smart-contract and market risks still exist, so review the risk disclosure before trading.
Does Crystal Exchange require KYC?
No. Crystal Exchange is entirely permissionless. It does not require or collect personal information, and all you need is an EVM wallet to start trading.
Why are referral fee discounts claimable as rebates?
For external integrations, a fixed taker fee simplifies output calculation and keeps routing behavior consistent whether or not a referral code was used. A direct fee discount would change trade output amounts, adding complexity that can hurt composability.
How can I earn by providing liquidity?
Anyone can market make on an equal playing field, although it requires technical knowledge and programming experience. In the future, earn vaults will allow users to deposit assets so experienced algorithmic traders can provide liquidity on their behalf.
Where can I ask more questions about Crystal?
If you still have questions, join the Crystal Discord and reach out to the community.