Documentation

Quiver · perpetual futures on tokenized stocks

Quiver is a vAMM perpetual-futures protocol for tokenized stocks on Robinhood Chain, an Arbitrum Orbit L2 built for real-world assets. Long or short equities like AAPL, TSLA and NVDA with up to 20x leverage — 24/7, no market hours. This page explains how the protocol works and how to use the app at /trade.

Status: demo on Robinhood Chain Testnet. Trading is currently a client-side simulation — smart contracts are being ported and are not yet deployed. Nothing here has monetary value. See the risk disclaimer.

1. vAMM price discovery

Each market runs a virtual AMM with constant-product pricing (x·y=k). The vAMM holds no real assets — it is purely a pricing curve. Trades move the mark price along the curve, and PnL is settled in tUSDC:

pnl = size × (exit − entry) / entry

2. Index price & funding

An external index price for each underlying stock anchors the vAMM. A periodic funding rate (shown per 8h in the terminal) pushes the mark back toward the index: longs pay shorts when the mark trades above the index, and vice versa.

3. Leverage & isolated margin

Collateral (tUSDC) is posted per position with isolated margin — risk in one market never touches another. Notional exposure is margin × leverage, up to 20x. Opening a position charges a 0.05% fee on notional.

4. Liquidation & insurance fund

A position is liquidated when its equity falls below the maintenance threshold; the estimated liquidation price is always shown in the order panel and positions table. Each market keeps its own insurance fund to absorb bad debt, keeping risk isolated per market.

5. Order types

The terminal supports market and limit orders, plus optional take-profit and stop-loss triggers that close the position automatically when the mark crosses your level. Positions can also be partially closed (50%).

6. Using the app

1. Open /trade — demo mode works instantly with a $10,000 tUSDC paper balance.
2. Optionally connect a wallet on Robinhood Chain Testnet (chain ID 46630) for the upcoming on-chain flow.
3. Pick a market, choose Long or Short, set margin and leverage, optionally add TP/SL, and open the position.
4. Track PnL, the order book and recent trades in the tabs below the chart. Close 50% or 100% any time.

7. Network

8. FAQ

Is this real money?

No. Quiver is a testnet demo — balances, positions and PnL are simulated and have no monetary value.

Are these real stocks?

No. Markets are perpetual futures on tokenized-stock index prices. You never hold the underlying equity, and there are no shareholder rights or dividends.

When do contracts go live?

The protocol contracts are being ported to Robinhood Chain testnet — see the roadmap for the current status.