Long or short any coin that is going viral on Robinhood Chain, up to 5×, in USDG. Nothing is swapped, everything settles on a 15-minute average, and a vault anyone can join takes the other side.
An app on Robinhood Chain where you pick a coin that is going viral, choose long or short, pick a leverage up to 5×, and tap once. Margin and profit are in USDG. On the other side of every trade is a vault that anyone can deposit into to be the house.
Nothing is swapped. You post USDG as margin, the contract records a position size and an entry price, and the vault takes the other side. When you close, you are paid or charged the difference in USDG. The coin itself is never bought, sold or borrowed, which is why WICKR can list a coin the day it has a pool, and why a short never needs a lender.
Every open, close and liquidation is priced from a 15-minute time-weighted average of the coin's own Uniswap v4 pool, never from the last trade. A spike that lasts seconds barely moves a 15-minute average. You are closed out when the coin actually moved against you, not when one trade did.
Every market is small relative to its pool, so pushing the average through a liquidation band costs more than the largest allowed position could win. The vault only backs what it can cover: the engine refuses new positions once too much of the vault sits behind open interest. Every market can be switched to close-only in one transaction, and the whole engine has a pause switch.
This is an unaudited private beta. The contracts have an automated test suite and have run real money on mainnet, but no outside firm has reviewed them. Every limit in this document is deliberately small. Only risk what you would shrug off.
WICKR runs on Robinhood Chain (chain id 4663), an Arbitrum-built Ethereum L2 with roughly 100 ms blocks, gas paid in ETH and USDG as its native stablecoin. A trade costs cents in gas. Prices come from Uniswap v4 pools on the same chain, read directly from the pool contracts; there is no off-chain oracle and no admin-fed price.
Markets are listed by the team, one transaction each, once a coin has a real USDG pool on Uniswap v4. The set of live markets changes; the app's Markets page is the only source of truth for what is tradable right now, and this document deliberately does not name coins. Stop loss and take profit are built and tested and ship with the next engine deploy. Everything under Roadmap is not live and is described there so you know where this is going.
One engine. Traders post USDG and get PnL back; the vault is the other side of every position; the oracle reads the coin's pool and hands the engine a 15-minute average; the keeper keeps it all moving with a key that can only pay gas.
You choose a market, a side, an amount of USDG to put up, and a leverage between 1× and that market's maximum. Position size is margin times leverage. The contract takes your margin, charges the opening fee on the position size, and records the size, the side and the entry price, which is the 15-minute average at that moment. Nothing else happens on chain: no swap, no borrow, no order book.
Say you put up 100 USDG at 5× on a coin whose average is 0.5000. Your position is 500 USDG of notional, which is 1,000 coins worth of exposure, and the opening fee is 0.10% of 500, so 0.50 USDG. You are long from 0.5000.
While the position is open it accrues a hold cost, shown in the app in dollars per hour. It has two parts. A borrow rate on your position size that scales with how much of the vault is in use: an empty vault charges almost nothing, a busy one charges more. A funding rate paid by whichever side of the market is heavier: if longs outweigh shorts, longs pay, and the more one-sided the book, the more they pay. Both go to the vault, not to the other side of the book, because the vault is the one carrying the exposure. There is a short minimum hold time after opening so a position cannot be flipped inside a single average.
You can close the whole position or part of it at any time. The closing price is the 15-minute average at that moment. Profit or loss is the difference between exit and entry, times your size, minus the hold cost that accrued, minus the closing fee. If you are in profit the vault pays you; if not, the loss is taken from your margin and the rest is returned. You can also add margin to an open position to move the liquidation level away, or withdraw margin you do not need.
Every market has a maintenance margin, a percentage of position size. When your margin minus your unrealised loss minus accrued hold cost falls to that level, the position can be closed by anyone. The app shows this in one sentence before you open: "closed automatically if price falls 21% to 0.3950", and draws the level on the chart. At 5× with a 12% maintenance margin, that is about an 8% move against you; at 3× it is roughly 21%. The liquidation fee comes out of what is left of your margin. There is no bad-debt socialisation and no auto-deleveraging; if a gap is so violent that the margin does not cover the loss, the vault absorbs the shortfall.
Illustration, not a live chart. The red wick drops through the liquidation level for one candle. Spot went there; the 15-minute average did not, so the position stays open. To liquidate through the average the pool would have to sit down there for most of 15 minutes.
WICKR does not have a mark price of its own. For each market it reads the coin's Uniswap v4 pool and keeps a time-weighted average over the last 15 minutes. That average is the only price the engine ever settles on: opens, closes, liquidations and the profit-and-loss you see in the app all use it.
The reason is the name. On a thin coin, one trade can print a price 30% away from where the pool sat a second earlier and be back inside a block. On any venue that marks on the last trade, that wick liquidates every position on the wrong side and pays whoever caused it. On WICKR a one-second wick moves a 15-minute average by a rounding error. To move the average, someone has to hold the pool away from its true price for the whole window, against every arbitrageur on a chain with 100 ms blocks and hourly-launching bots, and pay the round-trip cost of doing so. The market caps in the next section are sized so that this always costs more than it can earn.
Two guards sit on top. If the pool's spot price is more than a set percentage away from the average, new positions cannot be opened until they agree again, because a disagreement that large means something is happening that the average has not caught up with; closes and liquidations still work, priced conservatively (the worse of the two for the trader). If the price has not been refreshed within a few minutes, the market is treated as stale and behaves the same way. The refresh is permissionless: anyone can poke the oracle, and our keeper does it whenever the price moves or on a heartbeat.
What this costs you: the average lags. In a genuine crash you are settled at the average, which is worse than the price a few minutes earlier; and you cannot scalp a spike, because by the time the average reflects it, it is over. That is the trade we chose, and the whole product is built on it.
There are three kinds of limit, and it matters which is which.
Each market carries a maximum leverage, a maintenance margin, a maximum position size and a cap on open interest per side. They are set from the coin's pool when the market is listed, using its depth (how much USDG sits within the liquidation band), its recent volume, its age and how violently it has moved, and they are re-set by the team as those change. The rule behind them is simple: the cost of pushing the 15-minute average through the liquidation band must exceed what the largest permitted position could extract. In practice that means a market's open-interest cap is a small fraction of its pool's depth, on the order of one percent, and no single position may be more than a fifth of a side's cap. Maximum leverage is 5× on the deepest coins and lower on thinner ones; a coin that launched an hour ago gets no market at all until it has earned one.
Honest detail: in this beta these numbers are parameters chosen by the team from the pool's data, not outputs recomputed by the contract every block. The app shows every limit and how much of it is used, and it says "full for now" rather than failing after you submit.
Two limits, and the smaller one wins. A market can never carry more than its own cap, and all markets together can never carry more than 40% of the vault. Grow the vault and the second line moves; deepen the pool and the first one does.
The one limit the contract enforces live, on every open, is the vault's. Open interest across all markets may not exceed a fixed share of the vault's assets, and every open position has USDG reserved behind it. In the beta that share is 40%: with 100,000 USDG in the vault, at most 40,000 USDG of positions can be open across the whole platform, and the engine refuses the trade that would push past it. There is also a cap on total open interest and on how much any single wallet may have open across markets. These grow with the vault; a bigger vault means bigger markets, automatically.
Any market can be put into close-only, which lets positions exit and liquidations run but accepts no opens. The whole engine can be paused. Neither force-closes anyone. These are the levers the team uses when a pool dries up, a coin rugs, or something looks wrong.
The vault is a standard ERC-4626 USDG vault. You deposit USDG and receive shares; the share price tracks the vault's net assets. It is the counterparty to every position on the platform: when a trader closes in profit the vault pays, and when a trader closes at a loss or is liquidated the vault keeps the margin. Every opening fee, closing fee, liquidation fee (net of the treasury's share), borrow charge and funding payment lands in the vault. That is its income. Its expense is trader profit.
Accounting is conservative. Trader profit that is currently open is counted against the vault immediately; trader losses are counted only when realised. So the share price you see is never flattered by unrealised losses on the other side.
You can withdraw at any time, up to what is not reserved behind open positions. The reserve exists so that traders can always be paid; if the vault is heavily used, part of your deposit is temporarily locked until positions close. During the beta the vault has a deposit cap, and total exposure is limited by the 40% rule above.
You are paid to be the house. On most days the vault collects more in fees and funding than it pays out. On a day when traders win big, or a coin gaps through the average, it pays, and your shares fall with it. This is not lending and there is no fixed yield. The app never shows a projected APR; it shows what the vault has actually earned.
| Item | Amount | Where it goes |
|---|---|---|
| Opening fee | 0.10% of position size | 70% vault · 30% treasury |
| Closing fee | 0.10% of position size | 70% vault · 30% treasury |
| Liquidation fee | 1% of position size | 70% vault · 30% treasury (from remaining margin) |
| Borrow rate | scales with vault utilisation, from near zero to a capped annual rate | vault |
| Funding | paid by the heavier side, scales with how one-sided the market is | vault |
| Gas | cents per transaction | Robinhood Chain |
The app shows borrow and funding together as one hold cost in dollars per hour, computed for the position you are about to open, and updates it live. There are no maker or taker tiers, no VIP levels, no token discounts.
The treasury has one address it can ever pay, fixed when the contract was deployed. There is no function to change it and no upgrade path. Anyone can trigger the sweep that forwards accumulated fees to it.
Liquidation, oracle refresh and (once deployed) stop-loss and take-profit execution are permissionless functions: any wallet can call them and be paid the fee. WICKR runs its own keeper as the backstop. It is a small scheduled job with a wallet that holds only gas. It refreshes the price when it has moved meaningfully or on a heartbeat, liquidates positions that are under maintenance, executes triggered orders, and forwards fees to the treasury. It cannot move funds, change a market, pause anything or redirect revenue. If its key leaks, it is rotated and nothing is lost.
Because the settlement price is a 15-minute average, liquidation is not a race. A position that is under maintenance on the average stays under it for minutes, not milliseconds, so a keeper that runs once a minute is enough.
Not live. Backing is how the long tail gets markets. WICKR will list a lot of coins, but not all of them, and a listed coin's limits are bounded by its pool and by the shared vault. Backing lets anyone, a coin's team, its community or a large holder, post capital for one specific coin. That capital sits in front of the shared vault and eats losses on that market first. In return, backers earn a share of that market's fees and funding, and a coin with more capital behind it gets a bigger market and, within the 5× ceiling, more leverage.
Two things it enables: opening a market for a coin the team has not listed, and deepening a market the team has listed. Backing will have a lock-up, an unbonding period, and rules for what happens if a backer's wallets are found manipulating the pool. The exact terms will be published here before it ships, and nothing about it is in the contracts today.
| Step | What ships | Status |
|---|---|---|
| Stop loss and take profit | Set on open or later; executed by anyone, including the keeper, for the same fee as a close | built and tested, one deploy away |
| More markets | Coins listed as their pools graduate; the app is the list | ongoing |
| Vault seed and first real numbers | The vault's earnings shown from real history, not projections | next |
| Multisig owner | Admin key moves to a multisig before caps are raised | planned |
| Open beta and audit | Larger caps, no password | planned |
| Backing | Described above | planned |
| Tokenized stocks and majors | Markets on the stock tokens Robinhood issues on the chain, priced from their feeds rather than a pool | later |
| Share cards, feed, points | The social layer | later |
| Risk | What happens | What limits it |
|---|---|---|
| Contract bug | Funds lost or stuck | Test suite; small caps; pause switch; no audit yet, which is why the beta is private |
| Coin gaps through the average | Positions go under water faster than liquidation can close them; the vault absorbs the shortfall | Maintenance margin sized to the coin; caps a small fraction of depth; 5× ceiling |
| Pool manipulation | Someone tries to move the 15-minute average to liquidate the other side or extract from the vault | Caps sized so the attack costs more than it pays; deviation guard blocks opens while it happens; TWAP itself |
| Pool dries up or coin rugs | The average becomes meaningless | Market to close-only; positions settle at the last sane average |
| Vault drawdown | Depositors lose value when traders win | Conservative accounting; 40% utilisation rule; deposit cap; it is the risk depositors are paid for |
| Admin key | Parameters changed badly or a market paused at a bad time | Key cannot take funds; treasury beneficiary immutable; multisig planned |
| Sequencer or RPC outage | Nobody can add margin or close while prices move | Average, not spot, so a brief outage rarely settles anyone; keeper heartbeat |
| Regulatory | Leveraged retail crypto products attract attention; stock products are not for US persons | Geo-blocking at the front end when stock markets ship; counsel before opening up |
| We say | We mean |
|---|---|
| position | a leveraged long or short, isolated, one per market per wallet |
| closed automatically | liquidated |
| 15-minute average | the time-weighted average price of the coin's pool over the last 15 minutes; the settlement price for everything |
| hold cost | borrow rate plus funding, shown in dollars per hour |
| the vault, the house | the ERC-4626 USDG vault that is the counterparty to every trade |
| margin | the USDG you put up; the most you can lose on a position |
| maintenance margin | the share of position size your margin must stay above to avoid liquidation |
| room left | a market's open-interest cap minus what is currently open |
| keeper | the gas-only bot that refreshes prices, liquidates and sweeps fees |
| backing | capital posted in front of the vault for one coin (coming) |
| wick | the price spike that liquidates people everywhere else; the thing this engine is built around |