# OTC User Guide

Black Pearl Market lets users trade PEARL for USDC through a non-custodial OTC flow. Buyer USDC is locked in the verified escrow contract, not sent directly to the seller wallet.

## Before Trading

* Use only official links.
* Verify the escrow contract on Arbiscan.
* Use Arbitrum One for EVM transactions.
* Keep seed phrases and private keys private.
* Check that you understand whether you are the buyer or seller.

## Create A Bid

1. Connect your wallets.
2. Choose the PEARL amount and USDC price.
3. Confirm the EVM transaction that locks USDC in escrow.
4. Wait for the bid to appear in My Swaps.

You can cancel an open bid before it is accepted.

## Create An Ask

1. Connect your wallets.
2. Choose the PEARL amount and USDC amount.
3. Confirm the ask.
4. Keep enough PEARL, UTXOs, and network gas available while the ask is open.

If a buyer takes the ask, the buyer locks USDC in escrow and the seller must complete the PEARL-side step.

## Take An Ask

1. Select an ask from the orderbook.
2. Review amount, price, and network.
3. Confirm the transaction.
4. Track the swap in My Swaps.

The buyer pays 0% Black Pearl Market protocol fee. Network gas still applies.

## Sell Into A Bid

1. Select a bid.
2. Review buyer, amount, price, and timers.
3. Confirm the seller flow.
4. Complete the PEARL-side lock when prompted.

Bot-Assisted Orders can automate eligible steps. Human-Confirmed Orders may require the counterparty to come online and confirm.

## Fees

| Fee                      | Who pays           | Notes                                       |
| ------------------------ | ------------------ | ------------------------------------------- |
| Buyer protocol fee       | Buyer              | 0%                                          |
| Network gas              | Transaction sender | Paid to the network, not Black Pearl Market |
| Seller-side protocol fee | Seller proceeds    | 200 bps, equal to 2% in current production  |

Example: if a buyer takes a 100 USDC order, the buyer locks 100 USDC. The seller receives 98 USDC when the claim succeeds, plus any returned seller bond where applicable.

## Claim And Refund Windows

Once a swap becomes claimable, the seller should claim USDC before the refund window expires. In the current production flow, sellers should treat this as approximately 2 hours unless the app shows a more exact timer.

If the seller misses the window, the buyer may become eligible to refund according to the escrow contract rules.

## If The Website Or Bot Is Unavailable

The EVM escrow contract remains inspectable on-chain. Advanced users can use the verified Arbiscan contract page when they have the required wallet, network, order data, and action details.

Most users should wait for the official app or bot to recover, or contact support with public details: transaction hash, order/deal id, wallet address, and approximate time. Never share seed phrases or private keys.


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