Obscura is an oracle-priced, coin-margined perps venue on Solana. No central order book to hunt. No public mempool queue to sandwich. Just clean execution.
Positions are priced against an oracle and backed by per-market liquidity vaults — so there's no resting book for anyone to pick off.
Post collateral to a market's vault. Your margin is coin-denominated and yours to withdraw.
Open long or short at the oracle mark. No counterparty to find, no spread to cross on a book.
The H + A/K coverage engine keeps the system solvent — capital senior, profit junior — no auto-deleveraging.
Liquidations are permissionless and account-local. Everything settles verifiably on Solana.
Obscura removes the surfaces traders get hunted on. That's not anonymity — settlement is fully on-chain and verifiable — it's the absence of the things that leak your intent.
There's no resting bids/asks ladder for predators to read, spoof, or stop-hunt. Pricing comes from the oracle.
No public pending-transaction queue to front-run. Your entry isn't a signal broadcast before it lands.
Every position, liquidation, and vault balance is on-chain. Privacy here means fewer attack surfaces — not opacity.
Obscura forks Anatoly Yakovenko's open-source Percolator engine: a coverage-ratio design that retires auto-deleveraging, with capital senior to profit and lazy per-side indices.
A single solvency ratio governs the whole market — no socialized-loss surprises mid-trade.
Profit accrues against side indices instead of clawing back winners through deleveraging.
The upstream engine ships Kani proofs (no-loss-of-funds, conservation). Proofs cover the engine, not yet this fork.
The trading terminal is live with real oracle prices and simulated fills. Trade the full interface today.
Our forked Percolator program is deployed and live on Solana devnet — compiled from source, verifiable on-chain. Market init underway.
Initialize markets with oracles + liquidity, then wire the terminal to real wallet-signed deposits, trades, and liquidations.
External audit and bug bounty, guarded launch, then open mainnet. Real funds only after the audit.
Not a yield, not a dividend — utility. Cheaper trading, and a supply that shrinks as the venue is used.
Hold $OBSCURA for lower trading fees — the token pays for itself the more you trade.
A share of every trading fee buys $OBSCURA on the open market and burns it. Reduces supply; doesn't pay holders or promise a return.
Open access — no waitlist. Trade the live preview desk now; the on-chain engine is already live on devnet.
Enter Obscura →