Percolator Terminal
Clawd Chain · TESTNET test cUSD — no real value checking…
// Live on Clawd Chain — testnet

Any Token.
Any Market.
Permissionless.

Deploy a perpetual futures market. Trade it. Stake its insurance fund.

No permission. No gatekeepers. Test cUSD collateral — not real money.

Launch a Market Trade Now Risk Engine
Markets
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Trading
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Collateral
test cUSD
Access
Open

Wallet Clawd phrase wallet

A browser wallet derived from your phrase (seed = SHA-256 of the phrase, signed locally with WebCrypto). Same phrase as the Clawd web wallet. It never leaves this page.

Address
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Balance
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Launch a perp market permissionless

Bind a market to any Solana token — a Pump coin (including coins paired with another pump coin), a PumpSwap pool, a Stonk.fun LaunchLab token or any other SPL mint. The launch is recorded on the Clawd Chain registry (0.001 CLAWD fee, signed in this browser); then activate trading and the house provisions the perp, its test-cUSD mint and the insurance pool.

The token is read from Solana mainnet read-only as a reference index. Nothing is bought, sold or sent on mainnet. Collateral is always test cUSD; transfer-fee tokens can be an index but never collateral.

How it works

Percolator is a permissionless perpetuals protocol. Each market can be tied to a real Solana token, and its live venue price (Pump curve, PumpSwap pool or Stonk.fun) is shown as a reference only. On Clawd Chain, markets still trade at the test mark set at provisioning (100.000000 cUSD) — there is no oracle or keeper bringing the venue price on chain yet. Deposit test cUSD as margin, go long or short against the house LP, stake into the insurance pool for LP tokens, and mint your open position as a Token-2022 NFT.

Clawd Chain is a test network: CLAWD and cUSD here are test tokens with no real-world value.

Markets … launched

Every market launched on the Percolator registry, live from the Clawd Chain backend. Tradable markets can be activated by anyone. “Underlying” is the Solana token the market is bound to; its venue price is a mainnet reference, not the Clawd Chain test mark.

MarketUnderlyingCreatorLaunchedMarket acctLaunch tx
Loading markets…

Reference prices Phoenix · Solana mainnet

Live Phoenix perps prices for the assets listed here and the most traded Phoenix markets. Reference only: Percolator markets on Clawd Chain are test markets and do not trade at these prices.

AssetPercolatorPhoenix markFunding / hr24h volumeMax leverage
Loading reference prices…

Trade desk test cUSD margin

Price
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cUSD wallet
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Margin capital
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Position
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Insurance LP
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Position NFT
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// community

Join the Percolator Community

Sign in with Privy — the same account as the rest of Musebook — and you are on the roster. Every member gets a personal referral link; signups through it are attributed to you on the board below.

Members
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Referred signups
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Your referrals
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Access
Free · Privy

Member sign-in Privy

Email or wallet — Privy creates your account and an embedded wallet. No password stored here; this server only verifies your Privy sign-in.

Referrals

Top referrers

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Live

Latest members

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// protocol metrics

Built Different

Markets Live
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Insurance Fund
Every market
Settlement
Fully on-chain
Access
Open (testnet)
// how it works

Three steps. Sixty seconds.

01

Get a wallet + faucet CLAWD

Your phrase wallet is created right here in the browser. Hit the faucet, solve the proof-of-work, and you're funded with test CLAWD.

02

Pick a token

Paste any Solana mint — Pump, PumpSwap, Stonk.fun or any SPL token. Venue, quote pair and Pump curve depth are detected read-only; your signed launch lands on the Percolator registry for a 0.001 CLAWD fee — no approval, no listing committee.

03

Activate trading

One click provisions the perp: market account, test-cUSD mint, house LP and the insurance pool. Share the link. Done.

// architecture

Purpose-Built Infrastructure

Permissionless

No Permission Needed

No governance, no whitelists, no waiting. Deploy your own perpetual market in about sixty seconds.

$ percolator launch --name SOL-PERP registry memo… recorded provisioning perp… done market live
Verified

Fully On-Chain

Every trade, stake and settlement happens on Clawd Chain. Nothing custodial — the backend only builds unsigned transactions, your wallet signs.

Active

Insurance Fund

Every provisioned market carries its own insurance pool. Stake test cUSD into it, earn LP tokens, and the pool backstops the market's bad debt.

Testnet ethos

Break Things. Report Bugs.

This is a test network with a house admin key and a fixed provision price — no oracle yet. Nothing here is real money, so break it and tell us how.

// risk engine — H + A/K

The Engine Underneath

Our programs fork the Percolator engine, whose risk core is two mechanisms. H gates profit extraction when the vault is stressed, so no one withdraws more than exists. A/K socialises liquidation deficits pro-rata with O(1) settlement, so no single user is singled out for forced closure and markets recover. Attack it yourself in the Risk Engine.

H — Fair Exits (Haircut Ratio)

Residual = max(0, V − C_tot − I) h = min(Residual, PNL_matured_pos_tot) / PNL_matured_pos_tot effective_pnl_i = ⌊max(PNL_i, 0) × h⌋

A/K — Fair Overhang Clearing

effective_pos(i) = ⌊basis_i × A / a_basis_i⌋ pnl_delta(i) = ⌊|basis_i| × (K − k_snap_i) / (a_basis_i × POS_SCALE)⌋
// solana mainnet — route A

Coming to Solana Mainnet

Percolator is going mainnet with our own programs — wrapper, insurance stake, and position NFT — and real USDC collateral. The other mainnet Percolator program can't create markets anymore (simulation-verified), so we're deploying the stack ourselves. The full lifecycle is already rehearsed on devnet with a filled trade; exact deploy funding is 10.155017 SOL locked, ~15.5 SOL recommended. Not live yet — mainnet waits on the owner's funding tap, the final fee-authority key, and the program-ID decision.

Route
A — our stack
Status
Devnet-proven ✅
Locked Rent
10.155017 SOL
Collateral
Real USDC
Read the Mainnet PlanStonk Launches
// deploy

Ready to Percolate?

Deploy a perpetual futures market in about sixty seconds. No permission needed.

Launch MarketTry the Risk Engine