PERPETUALS. PLANNED LEVERAGE UP TO1,000×Your next move.

Perpetual contracts.
Our own USDC pool.

You trade the movement of a reference price. A long benefits when it rises; a short benefits when it falls. USDC is the collateral supporting your position.

Outside prices. Pool-based settlement.

The crypto reference combines eligible spot and perpetual-market prices from other venues. Those prices inform the reference. Positions and their profit or loss settle against ohtrade's own USDC trading pool under the protocol's rules.

The product is a perpetual contract: it gives you exposure to the reference price. Crypto, equity and ETF markets provide the underlying price references.

Up to 1,000×.

Leverage is price exposure relative to the collateral supporting it. At 1,000×, one unit of collateral represents 1,000 units of exposure, magnifying the effect of price moves in either direction.

The planned first lineup is BTC, ETH, SOL, ZEC, SNDK, SPCX and SOXL, each with planned leverage up to 1,000×. Equity and ETF testing follows Nasdaq regular trading sessions. More markets are on the way.

Spot and perpetuals.
More than one view.

A spot market quotes an asset for immediate trading. A perpetual market quotes a derivative that tracks its price. Both offer useful information, but their prices can differ.

The reference design uses eligible spot and perpetual data across venues including Binance, OKX and Hyperliquid. More reference sources are being connected. Input checks account for freshness, the relevant instruments and differences between markets before weighting.

BBO manipulation, explained.

BBO stands for best bid and offer—the highest buy quote and lowest sell quote, also called the top of book. Their gap is the spread; their midpoint is the mid-price. A BBO manipulation attempt may temporarily distort one side of that book to pull a price reference away from the wider market.

Cross-venue divergence checks compare references. Staleness checks reject old quotes. Basis is the price difference between spot and perpetual markets; the reference design must account for it rather than assuming the two prices are identical.

Why randomize the weights?

A weight is how much influence a source has. Randomized weights vary that influence, making the effect of targeting one venue less predictable. Quote-quality checks and disagreement limits remain part of the design; unsuitable inputs can be excluded and the reference can pause.

Same activity.
Fewer tokens over time?

Reward minting creates new tokens for qualifying activity. As a reward curve gets harder, the same activity can mint fewer tokens. That is the slowdown the burn-linked plan is designed to address.

In the current model, qualifying settled trading losses form the minting basis. Difficulty progresses with recorded growth in the trading pool. Beyond the curve's threshold, the minting rate can decline.

How do burns help the next round?

The burn-linked design uses recorded burns to lower future minting difficulty. That gives subsequent qualifying activity more opportunities to mint rewards. A burn permanently removes existing token units; future minting creates new ones under the adjusted rule.

Fee-funded burns connect one round of trading activity with the next round of minting opportunities.

What pays for the buybacks?

The pool's trading fees.

The pool collects fees from trading activity. A defined percentage of those collected fees goes into a USDC buyback budget. Allocation ratios and the burn-linked adjustment formula will be published together.

That USDC acquires existing tokens.

The budget pays for token buybacks through auctions and other announced routes. In an auction, the published bidding rules determine which offers are accepted and at what price. The funding still comes from the pool's allocated trading fees.

The acquired tokens split into two routes.

Some are burned. The remaining reward allocation is held for activity campaigns and trading competitions that encourage more people to participate. Tokens reserved for rewards are locked and remain unstaked during campaign preparation.

The burn route opens the next round.

In the burn-linked design, recorded burns lower minting difficulty. New qualifying activity can then mint rewards under that adjusted rule. Continuing trading activity contributes new fees, funding the next allocation and buyback round.

Different rewards.
One stated source.

Defined allocations of the pool's eligible fee revenue fund each ecosystem programme. Follow the fee budget first, then the tokens it acquires.

USDC for eligible stakers.

A dedicated allocation supports USDC distributions under the staking rules. Each participant's share depends on eligible stake and the available distribution budget.

Tokens for burns.

The buyback allocation acquires tokens. Its burn portion is permanently removed and recorded for the planned difficulty adjustment.

Tokens for campaigns and competitions.

The remaining bought-back reward allocation supports activity rewards and trading competitions. These programmes invite new participants and give existing traders more ways to take part. Each campaign will publish its budget, schedule and eligibility.

During preparation, the locked reward reserve stays unstaked. It therefore does not take a share of a given staking distribution. Reserved reward tokens remain available for campaigns; burned tokens stay destroyed.

Decentralization starts
with records you can check.

Our direction is a Solana-based system with on-chain settlement and a publicly inspectable ledger. Participants should be able to follow recorded actions through program accounts and transaction history, rather than relying only on a website balance.

What does the ledger show?

On-chain accounts and transactions make pool balances, position settlement and recorded fee distributions inspectable. As buyback, burn and campaign programmes launch, their recorded token movements will provide a trail of how allocations were used.

Where can people check it?

Public program addresses, relevant accounts and explorer links will accompany those deployments. They let participants trace a transaction and compare recorded balances and distributions with the published rules.

Permissions for price publication, execution and parameter changes belong alongside settlement rules in the public protocol documentation. Participants can examine both the permissions and the recorded on-chain actions.

Why connect the pieces?

For traders: a growing choice of perpetual markets, planned leverage up to 1,000×, a responsive Solana-based experience, and a reference that considers both spot and perpetual markets.

For token participants: a clear funding source. A share of the pool's trading fees pays for buybacks. Acquired tokens support burns and trader rewards, while the burn-linked design reopens minting opportunities.

For everyone following the ecosystem: public on-chain records are the foundation for checking settlement and recorded distributions. More markets, reference sources and allocation programmes are still being developed.

The cycle is funded by activity. Its scale follows the fees actually collected, the published allocation ratios and the minting rules. Burns remove token units and minting creates them; both determine the change in supply.