Skip to main content

OTC Trading System

🏪 OTC Trading User Guide​

The OTC (Over-The-Counter) Trading System allows server members to securely trade NFTs directly with each other using an escrow system. Create listings, browse available NFTs, and conduct safe peer-to-peer transactions!

📋 Table of Contents​

  • OTC Administration
  • Getting Started
  • OTC Commands Overview
  • Setting Up OTC Trading
  • Trading NFTs
  • Managing Your Listings
  • Collection Verification
  • Understanding the Trading Process
  • Permission Requirements
  • Tips & Best Practices
  • Troubleshooting

⚙️ OTC Administration​

Before users can trade NFTs, server administrators need to set up the OTC system and verify collections for trading.

/otc-setup​

Set up OTC trading infrastructure in your server.

Required Permissions: Administrator

No Parameters Required

What this does:

  • Creates an "OTC" category with three channels:
    • #otc-listings - Where new listings are announced
    • #otc-shop - Where users can browse available NFTs
    • #otc-sales - Where completed sales are announced
  • Configures the server for OTC trading
  • Sets up the shop display system

Example:

/otc-setup

Sample Output:

✅ OTC Trading Setup Complete
Setup completed successfully!

Listing Channel: #otc-listings
Shop Channel: #otc-shop

New NFT listings will be announced in #otc-listings, and 
users can browse available NFTs in #otc-shop.

To submit your collection to be tradable, use `/otc-verify-collection`.

Users should be able to list, browse and manage their listings 
by using the command `/otc`.

/otc-verify-collection​

Request verification for a collection to enable OTC trading.

Required Permissions: Administrator

Required Parameters: None (uses interactive modal)

How it works:

  1. Opens a modal form requesting collection information
  2. Submits verification request to the bot team
  3. Team reviews and approves/rejects the collection
  4. Approved collections become available for trading

Modal Fields:

  • Collection Address (required)
    • The verified collection address
  • Official Discord Server URL (required)
    • Your project's Discord server link
  • Official Twitter Handle (required)
    • Your project's Twitter account (without @)
  • Official Website (required)
    • Your project's official website
  • Market Place URL (optional)
    • Tensor or MagicEden collection URL

Example:

/otc-verify-collection

What happens:

  • Modal opens for collection details
  • Verification request submitted to bot team
  • You receive confirmation with request details
  • Team reviews within 24-48 hours
  • Collection approved for trading once verified

🚀 Getting Started​

The OTC system uses Discord's slash commands and requires wallet verification for trading.

Prerequisites:

  1. Server must have OTC trading set up (/otc-setup)
  2. You must have a verified wallet (visit https://verification.tekools.app)
  3. Collections must be verified for trading

Basic Usage:

/otc [subcommand] [options]

📖 OTC Commands Overview​

OTC Administration Commands (Administrators Only)​

CommandDescriptionRequired Permissions
/otc-setupSet up OTC trading infrastructureAdministrator
/otc-verify-collectionRequest collection verification for tradingAdministrator

OTC Trading Commands (All Users)​

CommandDescriptionRequired Permissions
/otc listList an NFT for saleVerified wallet required
/otc manageManage your active listingsVerified wallet required
/otc confirmConfirm NFT transfer to escrowVerified wallet required

🎯 Setting Up OTC Trading​

For Server Administrators​

Step 1: Initial Setup

/otc-setup

This creates the necessary channels and infrastructure.

Step 2: Verify Collections

/otc-verify-collection

Submit your collections for verification to enable trading.

Step 3: Inform Your Community

Let your members know they can:

🏪 Trading NFTs​

/otc list​

List an NFT for sale in the marketplace.

Required Parameters:

  • collection (autocomplete)
    • Select from verified collections available for trading
    • Only shows collections you own NFTs from

How the listing process works:

  1. Select Collection: Choose from verified collections
  2. Choose NFT: Browse your NFTs from that collection (paginated)
  3. Set Price: Enter price in SOL
  4. Accept Offers: Choose whether to accept offers
  5. Review Fees: See breakdown of royalties and platform fees
  6. Transfer to Escrow: Send NFT to bot's escrow wallet
  7. Listing Goes Live: Your NFT appears in the marketplace

Example:

/otc list collection:My Cool Collection

Interactive Flow:

  1. Select your NFT from a paginated list
  2. Modal opens for price and offer settings:
    • Price in SOL: 10.5
    • Accept Offers: yes or no
  3. Review fee breakdown
  4. Transfer NFT to provided escrow address
  5. Confirm transfer with /otc confirm

/otc manage​

Manage your active listings.

No Parameters Required

Available Actions:

  • Edit Price: Change the listing price
  • Cancel Listing: Remove listing and return NFT

Example:

/otc manage

Interactive Flow:

  1. Select from your active listings
  2. Choose an action (Edit Price or Cancel Listing)
  3. Complete the selected action

/otc confirm​

Confirm that you've transferred an NFT to the escrow wallet.

No Parameters Required

When to use:

  • After transferring an NFT to the escrow wallet
  • When you have pending listings awaiting confirmation

Example:

/otc confirm

What happens:

  1. Shows your pending transfers
  2. Select the transfer to confirm
  3. Bot verifies the transfer on-chain
  4. Listing becomes active if transfer is confirmed

📊 Understanding the Trading Process​

For Sellers​

  1. List Your NFT: Use /otc list to create a listing
  2. Transfer to Escrow: Send NFT to the provided escrow wallet
  3. Confirm Transfer: Use /otc confirm to activate listing
  4. Manage Listing: Use /otc manage to edit or cancel
  5. Complete Sale: Receive SOL when buyer purchases

For Buyers​

  1. Browse Listings: Check the #otc-shop channel
  2. Purchase NFT: Click buy button on desired listing
  3. Complete Payment: Send SOL to provided address
  4. Receive NFT: Bot transfers NFT to your wallet

Escrow System​

  • Security: All NFTs held in secure escrow during listing
  • Verification: On-chain verification of all transfers
  • Automatic: Automated handling of successful transactions
  • Reversible: Sellers can cancel and retrieve their NFTs

🔐 Permission Requirements​

Administrator Access​

Server administrators can:

  • Set up OTC trading infrastructure
  • Request collection verification
  • Access all OTC features

Verified Wallet Users​

Users with verified wallets can:

  • List NFTs for sale
  • Purchase listed NFTs
  • Manage their listings
  • Confirm transfers

Regular Members​

Standard server members can:

  • View listings in #otc-shop
  • Browse the marketplace
  • See listing announcements
  • Cannot list or purchase without wallet verification

💡 Tips & Best Practices​

For Sellers​

  1. Competitive Pricing: Research similar NFTs before setting prices
  2. Quality Images: Ensure your NFTs have good metadata and images
  3. Accept Offers: Consider enabling offers for faster sales
  4. Quick Transfers: Transfer to escrow promptly after listing
  5. Fair Pricing: Factor in royalties and platform fees

For Collection Owners​

  1. Complete Information: Provide accurate social links during verification
  2. Active Community: Maintain active Discord and social presence
  3. Fair Royalties: Set reasonable royalty percentages
  4. Quick Response: Respond promptly to verification team questions
  5. Community Education: Teach your holders how to use the system

For Server Administrators​

  1. Channel Organization: Keep OTC channels organized and monitored
  2. Community Guidelines: Set clear rules for trading behavior
  3. Support System: Have moderators familiar with OTC commands
  4. Regular Updates: Keep your community informed about new features

Security Best Practices​

  1. Verify Addresses: Always double-check wallet addresses
  2. Confirmed Transfers: Wait for blockchain confirmation
  3. Official Channels: Only use official bot commands
  4. Report Issues: Report suspicious activity to administrators

🆘 Troubleshooting​

Common Issues​

"Wallet Required" Error:

Collection Not Available:

  • Collection must be verified for trading
  • Administrators need to use /otc-verify-collection
  • Contact server admins to request collection verification

"No NFTs Found" Error:

  • Ensure you own NFTs from the selected collection
  • Check that your wallet verification is current
  • Verify the collection address is correct

Transfer Not Confirming:

  • Ensure you sent to the correct escrow address
  • Wait for blockchain confirmation (1-2 minutes)
  • Use /otc confirm after the transfer is complete
  • Contact support if issues persist

Listing Not Appearing:

  • Verify your transfer was confirmed
  • Check that you completed the /otc confirm step
  • Ensure the collection is verified for trading

Fee Structure​

Platform Fees:

  • Small platform fee on each sale
  • Creator royalties automatically distributed
  • Fees clearly displayed before listing

Gas Fees:

  • Sellers pay transfer fees to escrow
  • Buyers pay transfer fees when purchasing
  • Standard Solana transaction fees apply

Getting Help​

  • Contact server administrators
  • Check #otc-listings and #otc-shop for examples
  • Review this documentation
  • Report bugs to the development team

📋 Quick Reference​

Command Quick List​

/otc-setup              - Set up OTC trading (Admin)
/otc-verify-collection  - Request collection verification (Admin)
/otc list               - List an NFT for sale
/otc manage             - Manage your listings
/otc confirm            - Confirm NFT transfer

Trading Flow Summary​

1. Admin: /otc-setup
2. Admin: /otc-verify-collection
3. User: Verify wallet at verification.tekools.app
4. User: /otc list → Select NFT → Set price
5. User: Transfer NFT to escrow wallet
6. User: /otc confirm
7. Listing goes live in #otc-shop

Channel Functions​

#otc-listings  - New listing announcements
#otc-shop     - Browse and purchase NFTs
#otc-sales    - Completed sales notifications

This guide covers all OTC trading system features. The OTC system provides a secure, automated way to trade NFTs within your Discord community. For additional support, contact your server administrators.