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openPunt is a peer-to-peer exchange for leverage trading tokens. Orders are proposed, matched, and settled entirely onchain. The execution price comes from openOracle. A trader proposes a position, then an opening fee escalates until a matcher finds it profitable and takes the other side. The first counterparty to accept starts the oracle game whose final price decides the open. Traders close positions via dutch auction, where an oracle reporter is paid to submit the first report. Once that game ends, its price determines the close PnL. Risk is isolated per position. There is no pool. Matchers and traders are responsible for their own risk management. New to the terms? See the Glossary. openPunt and openOracle have no governance, privileged roles, or protocol rent extraction. Both protocols are immutable and cannot be paused.

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DISCLAIMER

The contracts, protocol, and UI are still in the research stage but are on production (“on-chain”) networks so we can test the economic incentives since these are critical to the design.We have worked on the contracts for some time; however, they have not yet been audited. Users should be prepared to lose all funds when interacting with unaudited contracts. Another thing that has not been audited is the game theory and statistics. Users should be aware that even in the case of flawless Solidity code it is highly likely there are math and game theory errors that not only render this endeavor moot but also put user funds at risk. Even if it works, user misconfiguration of either oracle parameters, position parameters, or trading bots can lead to the loss of funds. If all of the aforementioned is done perfectly, the underlying blockchain can still fail and users can lose funds. Proceed with care.