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.

Asset classes

Class	v1 status	Examples	Clearing
Crypto	Live	`BTC-PERP`, `ETH-PERP`, `SOL-PERP`, ecosystem alts	`native_v2`
Index	Pilot	`US500-PERP`, `US100-PERP`	`native_v2`
TradFi equity	API ready, 0 listings	—	Deferred to v2 queue
Commodity	API ready, 0 listings	—	Post-index
FX	API ready, 0 listings	—	Deferred

Filter markets: GET /api/v2/markets?asset_class=index — see V2 API.

Leverage caps (v1)

Asset class	Max leverage	Notes
Crypto majors	Up to 100× platform cap	Per-market registry `max_leverage` may be lower
Crypto alts	10×–30× typical	Registry row governs
Index synthetics	50× hard cap	US500 / US100 pilots — no broker-style 500×

Leverage tiers API: GET /api/v2/markets/leverage-tiers.

Listing policy (summary)

New markets must pass a checklist before registry write and on-chain initialize_market_v2:

Oracle tier approved for the asset class (pyth_index_a for index pilots).
OI cap and max leverage set from risk review.
Session rules documented (continuous_24_7 crypto; pyth_futures_continuous for index off-hours).
Multisig / Security Council sign-off for TradFi pilots (v1 governance).
No prelaunch or self-referential oracle for TradFi rows.

listing_status values: pilot (limited), production (GA), halted, deprecated.

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.

v1 scope boundaries

In Epic 14 v1

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

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

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.

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

​Perpetual market coverage

​Asset classes

​Leverage caps (v1)

​Listing policy (summary)

​Synthetic perp disclaimer

​v1 scope boundaries

​In Epic 14 v1

​Explicitly out of v1

​No CFD / MT5 (permanent)

​Verify before release

​Related docs