> For the complete documentation index, see [llms.txt](https://docs.vibe.trading/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.vibe.trading/system-visualisation.md).

# System Visualisation

A high level overview of the permissionless perps listing process.

<figure><img src="https://1059243772-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FCr6LuvhRparZQQ69OnVT%2Fuploads%2Fg19DHo56NeiVzbcpR4QS%2Fslide_12%20(3)-min.jpg?alt=media&amp;token=57d912ca-2fc1-4157-99d7-c942faac9459" alt=""><figcaption></figcaption></figure>

1. Project wants a perp.
2. We chat with project around the amount of supply they wish to loan us, and their revenue projections.
3. Project agrees terms and loans the solver x% of their supply. Usually loan is between 1%-5%, and a bigger % loaned means more OI ⇒ more volume ⇒ more profits.
4. We list their token as a perp.
5. Users trade their token on Vibe. The solver employs various trading/hedging strategies to best suit market conditions.
6. The solver (that facilitates trading) makes profit through spreads, funding rates, liquidations, losing trades.
7. Between 75%-85% of solver profits are periodically given back to the project. Percentages are dependent on volume.