# Mog Docs

> Mog is a self-bootstrapping perpetual DEX. These public guides explain trading, treasury-funded payouts, queued claims, and MOG rewards.

Reviewed protocol version: 6.0.1

Protocol review date: 2026-09-18

Scope: reviewed public documentation. Numerical examples use illustrative or launch settings; they are not live quotes or a guarantee of current deployed parameters. Consult the app for current market and position values.

For a complete explanation, read [all guides](https://docs.mog.xyz/llms-full.txt). For focused questions, use the Markdown chapters below. Each chapter provides its canonical human-readable source URL for citations.

## Important distinctions

- Profit cap is before fees; the app’s Max profit is after the profit fee.
- Oracle-priced execution still uses a later price update; submission does not lock the current price.
- Available cash and queued claims have different withdrawal and collateral behavior.
- Launch parameters and illustrative chart settings must not be reported as verified live values.

## Introduction

- [What is Mog?](https://docs.mog.xyz/index.md): Trade perps with up to 1,000× leverage on a DEX that builds its own liquidity.
- [FAQ](https://docs.mog.xyz/faq.md): Quick answers about trading, payouts, fees, and MOG rewards.
- [Quick start](https://docs.mog.xyz/quick-start.md): Connect a funded wallet and open your first Mog perp.

## Trading

- [Positions and leverage](https://docs.mog.xyz/trading/positions-and-leverage.md): Choose a direction, margin, and leverage, then manage your Mog perp.
- [PnL and closing](https://docs.mog.xyz/trading/pnl-and-closing.md): Understand your close value, explore the profit curve, and close all or part of a position.
- [Maximum payout](https://docs.mog.xyz/trading/maximum-payout.md): Understand the profit cap, the app's Max profit after fees, and the payout price.
- [Liquidations](https://docs.mog.xyz/trading/liquidations.md): Understand when a position liquidates and how leverage affects its distance from entry.
- [Adding margin](https://docs.mog.xyz/trading/adding-margin.md): Give your position more room before liquidation.
- [Fees](https://docs.mog.xyz/trading/fees.md): Mog's open fee and profit fee, when each applies, and what they fund.

## Funds and account

- [Wins and losses](https://docs.mog.xyz/account/wins-and-losses.md): How a close changes your balance and earns MOG rewards.
- [The payout queue](https://docs.mog.xyz/account/payout-queue.md): What happens when a payout exceeds available cash, and how to trade with the queued amount.
- [Deposits and withdrawals](https://docs.mog.xyz/account/deposits-and-withdrawals.md): Fund your Mog account and withdraw available cash with your wallet.
- [Session keys](https://docs.mog.xyz/account/session-keys.md): Trade with fewer wallet prompts, set session permissions, and revoke access.
- [Referrals](https://docs.mog.xyz/account/referrals.md): Create your referral link, activate rewards, and invite traders.

## $MOG

- [Earning MOG](https://docs.mog.xyz/mog/earning-mog.md): Earn MOG through realized trading losses and explore how the reward rate changes.
- [Supply and halvings](https://docs.mog.xyz/mog/supply-and-halvings.md): How MOG enters circulation and why its reward rate falls as the venue grows.
- [Buybacks and burns](https://docs.mog.xyz/mog/buybacks-and-burns.md): How trading activity funds MOG purchases and reduces circulating supply through burns.

## Risk

- [Risks and trust assumptions](https://docs.mog.xyz/risk.md): Understand the trading, payout, oracle, governance, and wallet risks of using Mog.