Everything the contracts do, in the order they do it. No allowlist, no discretion, no function that moves the principal.
A non-refundable fee of $10–25 USDG buys one seat. The split is fixed in the contract: 50% to the insurance buffer, 30% to the platform, 20% into the season prize pot.
Everyone starts on the same $5,000 paper stack. Fills are simulated against the live pool curve, so a thin book costs you exactly what it would cost in production.
Every account is force-liquidated before it is ranked, because a season cannot be won on a position nobody can exit. The top ~12% of qualified entrants are allocated.
An isolated contract is cloned and funded with $200–$1,000 of LP capital. You trade it. You cannot withdraw from it. Breach the drawdown and the keeper flags, then revokes.
Positions close, realised profit is split 80 / 15 / 5 between trader, liquidity providers and the platform, and your share is escrowed for claim. Losses never touch you.
Everything on this site describes how a set of contracts behaves. None of it is investment, legal or tax advice, a recommendation, or an offer. The contracts are unaudited. Entry fees are non-refundable, trading carries risk of total loss, and nothing here, including any figure read live from the protocol, implies anything about future results.
Every prop firm has a drawdown limit, and everybody reads it the same way: lose more than the number and you are out. The word that costs people their season is trailing.
The limit is measured from your high-water mark. Make a new high and the level you may not close below rises with it, and it never comes back down. An account up 12% and back to flat has not broken even. It is most of the way to the floor.
This is not an illustration. The arithmetic is the same function the engine marks accounts with, a breach is terminal there as it is here, and the limits are the ones the API is serving right now.
Tokenised equities against Chainlink reference prices. The deep, slow book: the test is whether you have an edge at all, not whether you can survive a thin market. Feeds run 24/5, and a stale quote rejects the order rather than filling it at a price nobody is trading.
Every token that graduates on pons, both stacks and back to the first launch, priced straight off the pool it graduated into. Tighter on every limit, because here the book itself is the test: fills move the price you are filling at. Universe floors keep the track off pools too shallow to be a fair one.
What the two above are auditions for. An EIP-1167 clone holding LP capital for thirty days, which you can trade along registry-fixed routes and settle. There is no function on it that moves the principal to an address you choose: not for you, not for us.
Finish in the top band and the protocol deploys a sub-vault with your address written into it. For thirty days you can open and close positions inside it. That is the whole of what the key does.
Realised profit splits 80 / 15 / 5 between you, the LPs and the protocol, and it settles on-chain when the term ends. The principal is never yours to move, which is the only reason LPs are willing to be on the other side of it.
Every figure resolves to the protocol’s own configuration. Risk parameters sit behind a two-day timelock and cannot change inside a live season.