Perpetuals on Robinhood Chain
The house
starts empty.
Most venues are capitalised by insiders before you ever place a bet. This one is not. Punt.house opens with nothing and is built entirely out of what traders lose, so the earliest losers own the most of it.
BTC and ETH from 50x to 1000x, settled in about a tenth of a second. No fee to open. No fee to close. No funding.
Your side
- Position size
- $25,000
- Liquidation
- ~0.40%
- Most you can lose
- $100
Your margin is the whole risk. A losing punt never costs you more than what you posted.
The house side
- If you lose
- +$100
- You still earn
- PUNT
- If you win
- Paid from the house
Your loss is the house. It buys you a share of every punt that comes after yours.
Table minimum
There is no
small bet here.
Fifty times is the floor, not the ceiling. That is roughly where the serious exchanges stop, and it is where we start.
They have deep books, tight spreads and years of work on execution quality. If you want size without a hair trigger, they are better at that than we will ever be. This is a house for punts, and it is built for nothing else.
The mechanism
Built out of losses,
not out of a raise.
Every other venue needs someone to fund the other side of your trade first. We inverted it: the house is the running total of what traders have lost, and the people who filled it get paid in the token.
It opens at zero
No seeded treasury, no insiders capitalising the counterparty before you arrive. On day one the house holds nothing, and every limit on the platform is sized to what it actually holds.
Losses build it
When a punt closes down, that margin becomes the house. That is the only way it grows. As it grows, position limits and leverage open up, and you can watch it happen.
Losers own it
Every loss accrues PUNT to the trader who took it, and the rate is highest when the house is emptiest. Get here early, lose like a champion, own the building.
Fees
You only pay
when you win.
No fee to open. No fee to close. No funding. No maker or taker schedule. When a punt closes in profit the house keeps a share of the profit, never a share of your margin.
Costs nothing extra
You lose the margin you posted and not a cent more. There is no closing charge stacked on top of a bad punt.
A share of the win
The house takes a cut of the profit, and the cut gets smaller the bigger the move you caught. Small scalps pay the most, big calls pay the least.
Fees at 1000x are brutal
At this leverage a conventional round-trip fee can eat a serious chunk of your margin before the price moves at all. Charging only on profit keeps the entry clean.
Execution
Sign once.
Then stop signing.
Enable trading one time and a session key lives in your browser. Every order after that is signed locally and settles in about a tenth of a second. No wallet pop-up, no confirmation to click, no gas to think about.
Pyth, on every fill
Orders settle against a fresh signed price bundled at execution, with the oracle's own confidence band priced into your fill rather than absorbed by the house.
Your collateral, your keys
Margin travels with the order and comes straight back to your wallet when the position closes. There is no account balance sitting on our side.
Robinhood Chain
About a tenth of a second per block, and gas you never touch. Fast enough that a punt feels like a click rather than a transaction.
Risk
This is a house.
Houses win.
At 1000x, a very small move against you ends the position. That is not a flaw in the product, it is the product. Positions at extreme leverage are usually measured in seconds.
There is nothing gentle here on purpose. The lowest leverage on Punt.house is higher than the highest leverage most exchanges will give you. If you want size without a hair trigger, trade somewhere else and come back when you want a punt.
The house keeps a share of profits, which means the odds sit with the house over enough punts. Anyone telling you otherwise about any leveraged venue is selling something.
Punt with what you are willing to lose entirely, because the amount you post is the amount at risk. Punt.house is currently on testnet, using test funds, while parameters and risk controls are being tuned.
FAQ
Questions
worth asking.
What does it mean that the house starts empty?
There is no pre-funded treasury backing your trades. The house begins with effectively nothing and grows only from what traders lose. Because of that, the platform's own limits are tied to what it holds: it will not accept a position it could not pay out. Limits and leverage open up as the house fills.
How do I earn PUNT?
By losing. Every losing punt accrues PUNT to the trader who took it, and the rate is highest when the house is emptiest, which means the earliest traders earn the most for the same loss. Winning is still better than losing. It just does not print tokens.
What happens if I win more than the house holds?
You join the queue, and the queue is the point. Your margin comes straight back to your wallet the moment you close. The profit is paid out in the order positions were closed, so if the house is short right then, you are paid as losses refill it. First closed, first paid. Nobody jumps the line, and while anyone is still owed, the buyback and the team's share both stop.
Are there really no trading fees?
There is no fee to open, no fee to close and no funding. The house makes money by keeping a share of profitable closes, and the fill price includes the oracle's confidence band. So it is not free, it is just that you are never charged for entering or for losing.
What can I do on testnet?
Everything the real thing does, with test funds. Open and close punts at full leverage, hit liquidations, watch the house fill. We are tuning risk controls and hunting for ways to game the pricing, so if you find one, tell us. Testnet traders are noted.
Why can't I trade below 50x?
Because this is a punt venue, not an exchange. Below 50x you are asking for a different product, and there are good ones already: deep books, tight spreads, and teams who have spent years on execution quality. We would rather do one thing properly than be a worse version of them. Our floor is roughly where their ceiling sits.