Terms

liq.fun is offered as it is. It may be unavailable, it may be wrong, and it may change or stop without notice.

You can lose what you put in

COIN RUN uses real money at 10,000x leverage, where a position lives for seconds and a 1 basis point move ends it. Any stake can be lost in full, and every stake can be. Only deposit what you can afford to lose.

Deposits

Deposits are USDC on Solana, sent from the wallet you signed in with, to the address the deposit window shows. A transfer from any other wallet cannot be matched to you and waits uncredited. Anything sent on another network, or any other token, will not be credited and we may not be able to recover it.

Your balance and withdrawals

Your balance is USDC we hold for you, and it is what you can withdraw. A withdrawal goes only to the wallet you signed in with. It has a minimum and daily limits, shown in the withdrawal window. Winnings are paid from the LP pool, which refills from traders' losses; when it cannot cover a withdrawal, withdrawals pause until the pool is back in profit, and your balance is not touched; a withdrawal that fails before it leaves comes back to your balance. One whose outcome on the chain is unclear is checked by a person before anything else happens to it.

How a trade is settled

Your trade is with our liquidity pool, not with an exchange and not with another player. We take your stake when the position opens and credit what it pays when it closes; our record is the one that counts. The only market is $PUMP, at its real price.

A position lives only while you are connected

Flash perps are traded in real time. Closing the tab or reloading the page closes your open position at once, at the market price. If your connection dies without closing — a phone going to sleep, a network dropping, switching away to another app on a phone — the position is closed at the market price within about six seconds, when our server stops hearing from your browser. If our server stops with your position open, the stake is returned.

Fees

There is no fee to open. On a winning close the gain is measured 0.2 basis points less favourably, trimmed by a haircut that shrinks as the price move grows, and 2% of what remains is our fee; the haircut stays with the pool. On a losing close or a liquidation you lose your loss and nothing more, and 2% of it goes to us out of the pool's share. At 10,000x a position is liquidated after a 1 basis point move against it, and a win is paid after these fees, so it grows more slowly than the leverage alone would make it. The multiplier shown is always what a close pays.

LIQ

LIQ is the liquidation coin. It is minted only by liquidations in COIN RUN, 100 for every dollar of stake liquidated, and its supply is capped at 1,000,000,000. There is no pre-mint and no allocation to anyone. Today LIQ is a number on your account: it cannot be bought, sold or transferred here, it is not money, and it is not a share in the platform, its pool or its profits. The token has not launched and there is no date for it.

The buyback

Once LIQ trades as a token, 50% of every house fee is to go to buying LIQ on the open market and burning it. The liquidity pool is capped at $3,000,000: whatever it holds above that cap is to go to buying LIQ and burning it as well. That is a statement of how the house's fees and the pool's overflow will be used. It is not a promise about the price of LIQ or about any return, and if it ever changes it will be written here first.

Join Team

Of every house fee, 40% is liq.fun's and 10% is the team's. A player holding 1,000 LIQ gets an invite link, and the partners are ranked by how many of the players who joined through theirs hold 1,000 LIQ too. The 10 at the top make up the team and are to be paid 1% of all house fees each, for life. Payouts are not live: no amount is owed until their terms, including how a place on the team is held or lost, are published here. Invites from accounts that look alike, fund one another or trade against themselves do not count, and the holds below apply to partners too.

The announced tournament

One tournament is announced: free to enter, with a prize pool of 100,000 USDC put up by us and not collected from players. A ticket is issued on the tournament page to a player holding 1,000 LIQ who has invited 2 friends who each hold 1,000 LIQ too. An invite counts only for a player who joined through the link before making any trade, and it counts once. There will only ever be 100,000 tickets. A ticket is a place in the tournament and nothing else: it cannot be sold or transferred, and it does not entitle anyone to a share of the prize. The tournament has no date, and until one is written here it is an announcement and not a term.

Holds

We may hold an account — no new trades, no withdrawals — while we look at activity that looks like a forged result, an exploited fault or automated trading, and we may correct a balance that a fault of ours got wrong. Every correction is recorded with its reason.

Not advice

Nothing here is financial advice, and this is not how trading works — it is deliberately far more violent than any position an exchange would let you take. Do not learn to trade from it.