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Frequently Asked Questions about Priest.trade, perpetuals trading on Monad, and token launches.

General

What is Priest.trade?

Priest.trade is the Monad-native perpetuals launchpad and trading exchange. It allows any token on Monad to be created with an immediate perpetual futures market, traded with up to 40x leverage, and graduated into a real Uniswap v4 spot pool with permanent locked liquidity.

What blockchain does Priest.trade run on?

Priest.trade runs natively on Monad Mainnet (Chain ID: 143) and Monad Testnet (Chain ID: 10143). It is an EVM protocol built specifically for Monad’s 10,000 TPS and 1-second finality.

What is the relationship between Perpes.fun and Priest.trade?

Perpes.fun is the Solana deployment of the protocol. Priest.trade is the standalone production brand deployed on Monad Mainnet (priest.trade).

Trading

What collateral is accepted?

All trading collateral is denominated in native Circle USDC on Monad (0x754704Bc059F8C67012fEd69BC8A327a5aafb603).

What is the maximum leverage?

  • Warmup Markets (first 24h of a token): Up to 10x.
  • Active vAMM Markets: Up to 40x.
  • Graduated Secondary Markets: Starts at 15x, unlocking by 5x each day up to 40x.

How do liquidations work?

A position is liquidated when its equity falls below maintenance margin (1.25% at 40x leverage). Priest.trade uses a dual-price check: a position can only be liquidated if its margin ratio breaches the maintenance threshold at both the Mark Price and the Index Price, neutralizing single-block flash wicks.

Can I set Take Profit and Stop Loss?

Yes. On-chain TP and SL triggers are stored directly in contract storage and executed automatically by protocol keepers.

Token Launches & Listings

Can anyone launch a token?

Yes. Token creation is permissionless. Total supply (1,000,000,000 tokens) is minted directly to the engine with zero creator pre-mine, ensuring a 100% fair launch.

What is the difference between launching and listing?

  • Launching: Deploys a new token that begins on the primary virtual AMM (vAMM).
  • Listing: Connects an existing Monad token with an eligible Uniswap v3/v4 pool directly onto the secondary oracle engine.

How much do creators earn?

Creators earn 25% of trading fees by default, and permanently unlock 50% of trading fees once their market reaches $100,000 in volume within 30 days.

How does graduation work?

When a market clears 5 volume and resilience gates, the protocol seeds a Uniswap v4 spot pool with full-range liquidity and permanently burns the position NFT to 0x...dEaD. The perp market transitions to the secondary oracle engine.

Liquidity & Counterflow

What is the Counterflow Vault?

Counterflow is an ERC-4626 vault (cfUSDC) where liquidity providers deposit USDC. Counterflow acts as the automated backstop counterparty for graduated markets, earning 30% of protocol fees plus market surplus when traders lose.

How do I withdraw from Counterflow?

Redemptions follow a 2-step process with a 3-day cooldown to protect depositors from front-running losses. Once the cooldown passes, you can claim your principal and accrued yield in USDC.