Docs

Introduction

Decefi is a non-custodial perpetual futures exchange on Solana. The tagline says it: CeFi exchange with DeFi custody — the speed and UX of a centralized venue, while you keep custody of your funds in your own wallet.

The current release is a demo: trading is simulated with paper funds and live Coinbase spot prices.

Getting started

1. Connect Phantom, Solflare or Backpack.

2. Every new wallet gets 10,000 USDC of paper collateral in demo mode.

3. Pick a market, choose Long or Short, set leverage and size, then sign the order message in your wallet.

Perpetuals 101

A perpetual future tracks an asset's price with no expiry date. Going long profits when price rises; going short profits when it falls.

Positions are margined in USDC and marked to the oracle price.

Margin & leverage

Initial margin = notional ÷ leverage. SOL, BTC and ETH allow up to 50x, WIF 20x, BONK 10x.

Account leverage = total notional ÷ equity.

Liquidations

Maintenance margin is 3% of notional. If a position's margin plus unrealized PnL falls below that, it is liquidated.

Long liquidation price ≈ entry × (1 − 1/leverage + 3%). Short ≈ entry × (1 + 1/leverage − 3%).

Funding rates

Funding is exchanged between longs and shorts hourly (every 60s in demo mode) to keep the perp anchored to the index. Positive rate: longs pay shorts.

Fees

Taker 0.05%, maker 0.02%. $decefi stakers will save up to 30%.

Oracles

Demo mode uses Coinbase spot prices. At mainnet launch, on-chain pricing will use a decentralized oracle.

Non-custodial architecture

Collateral will be held in program-owned accounts that only your wallet signature can move. Decefi never holds keys. The on-chain program is in development; the UI is wired through an exchange interface so it can plug in directly.

Risks

Leveraged trading can lose more than your initial margin. Smart contract, oracle and liquidity risks apply. Not available in restricted jurisdictions. Nothing here is financial advice.

FAQ

Is $decefi live? Yes, live now. The contract address is at the top of every page — tap to copy.

Is my real money at risk in demo? No. Only paper funds are used; signing an order message sends no transaction.