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: live on Robinhood Chain Testnet. The vAMM perp contracts are deployed — connect a wallet to open, close and get liquidated fully on-chain, or use the instant demo mode. 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. Connect a wallet on Robinhood Chain Testnet (chain ID 46630) to trade on-chain: mint tUSDC from the faucet, then open and close positions directly against the QuiverPerp vAMM contract.
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 runs on testnet — collateral is faucet tUSDC and has 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.

Are the contracts live?

Yes — the QuiverPerp vAMM, tUSDC faucet and vault contracts are deployed on Robinhood Chain testnet (addresses above). A keeper pushes real index prices on-chain. See the roadmap for what's next.