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Perpetual market coverage

QuantDesk routes all leveraged products through one on-chain V2 clearing layer (place_order_v2 on Solana). Markets are defined in a program-governed registry — not deployer discretion or CeFi bridges.

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Asset classes

Classv1 statusExamplesClearing
CryptoLiveBTC-PERP, ETH-PERP, SOL-PERP, ecosystem altsnative_v2
IndexPilotUS500-PERP, US100-PERPnative_v2
TradFi equityAPI ready, 0 listings—Deferred to v2 queue
CommodityAPI ready, 0 listings—Post-index
FXAPI ready, 0 listings—Deferred
Filter markets: GET /api/v2/markets?asset_class=index — see V2 API.

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Leverage caps (v1)

Asset classMax leverageNotes
Crypto majorsUp to 100× platform capPer-market registry max_leverage may be lower
Crypto alts10×–30× typicalRegistry row governs
Index synthetics50× hard capUS500 / US100 pilots — no broker-style 500×
Leverage tiers API: GET /api/v2/markets/leverage-tiers.

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Listing policy (summary)

New markets must pass a checklist before registry write and on-chain initialize_market_v2:
  1. Oracle tier approved for the asset class (pyth_index_a for index pilots).
  2. OI cap and max leverage set from risk review.
  3. Session rules documented (continuous_24_7 crypto; pyth_futures_continuous for index off-hours).
  4. Multisig / Security Council sign-off for TradFi pilots (v1 governance).
  5. No prelaunch or self-referential oracle for TradFi rows.
listing_status values: pilot (limited), production (GA), halted, deprecated.

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Synthetic perp disclaimer

Index products (US500-PERP, US100-PERP) are synthetic perpetuals margined and settled on Solana. They track oracle marks — v1 pilots use Pyth SPY/QQQ equity proxies; E-mini continuous feeds are a follow-on upgrade.
  • Cash session: Marks may align with US cash RTH when open.
  • Off-hours: Marks use Pyth 24/7 futures continuous feeds per registry off_hours_policy.
  • Telemetry: Pro terminal shows CASH OPEN or CASH CLOSED — ORACLE MARK on TradFi perps.
This is not securities brokerage, stock trading, or CFD execution.

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v1 scope boundaries

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In Epic 14 v1

  • Crypto perps (registry backfill from seeded majors + alts)
  • US500-PERP and US100-PERP index pilots only

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Explicitly out of v1

  • Single-name US equities (NVDA, TSLA, …)
  • Pre-IPO / private-name perps
  • Commodities (e.g. gold), FX, regional singles
  • HIP-3-style permissionless deployer markets

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No CFD / MT5 (permanent)

QuantDesk never routes perp execution through:
  • CeFi CFD platforms
  • MetaTrader (MT5) bridges
  • Off-chain matching with synthetic on-chain claims
All fills settle through place_order_v2 and the unified PortfolioAccount on Solana.

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Verify before release

Engineers run the Epic 14 market smoke checklist: 
cd contracts && pnpm test:smoke
cd backend && pnpm test
pnpm epic14:market-smoke   # fleet API with backend running