I went through $PRCL Risk Management & Trading docs (documentation review only, I didn’t trade) and I have some feedback on the documentation about the Trading Fees and Margin sections.

The docs define makers as traders who “widen skew” and takers as those who “decrease skew.” A few lines later, they say trades that only increase skew pay the taker rate, while trades that only decrease skew pay the lower maker rate.

These statements seem to contradict each other. The Price Impact section (reducing skew gets a discount) suggests the fee rule is the intended one and the definition is inverted, but a trader can’t be sure which side pays less.

I also noticed the initialRatio formula uses the same variable on both sides of the equation. Maybe I’m missing some context, but clarifying what base value is used on the right side would help.

A simple worked example showing the fee for a trade that increases skew, one that decreases it, and one that flips it would make this much easier to follow.

Are these rules still up to date for Parcl v3?

Docs: https://docs.parcl.co/protocol-overview/risk-management-and-trading