Trade Perpetuals on Rujira’s Omnichain DeFi

We are excited to announce the launch of RUJI Perps, now live at rujira.network/perps.

Built by the Levana team, this is the second major product to go live and will play a key role in our DeFi offering as we work toward delivering a complete omnichain DeFi experience.

⚡Get Started with Perp Trading

Traders can now leverage their favorite assets by opening positions as longs or shorts in any of the available markets using USDC as collateral. All profits and losses are settled in USDC, making it easy to track performance and manage risk without exposure to price fluctuations in other assets.

⚡Initial Trading Parameters

RUJI Perps will initially launch with 10 markets, including BTC, ETH, and DOGE, all backed by USDC. The first version of RUJI Perps acts as a soft launch, where we have set the following controls:

• Maximum liquidity cap for BTC and ETH markets $100,000
• Maximum liquidity cap for the other markets: $10,000
• Maximum leverage: 4x

We have seeded the pools with $10,000 liquidity, primarily in the $BTC and $ETH markets, and will monitor them, increasing as needed. Both the liquidity cap and leverage limits will gradually increase as RUJI Perps proves its stability and new features are introduced.

⚡Earn Fees by Providing Liquidity

Liquidity providers can deposit USDC into a market of their choice and earn trading fees in return for taking on counter-trading risk. Because liquidity is single-sided, LPs are not exposed to impermanent loss. However, they do take on counter-trading risk, meaning the more traders lose, the more LPs earn, and vice versa.

⚡Deposit USDC on Rujira

The quote asset for all available markets is USDC.eth, the Secured Asset variant of USDC on Ethereum. To deposit assets on Rujira, you have two options:

1. Deposit directly on rujira.network/portfolio via the “Deposit Now” button.
2. Click the coin icon in the top-right corner of the page, next to the wallet connection icon.
3. Swap into (or from) Secured Assets using RUJI Swap. For example, you can swap your $BTC on the Bitcoin network for USDC.eth, with your TC address as the destination.

⚡Safe by Design

RUJI Perps prevents insolvency risk by fully backing all positions with locked liquidity. This design ensures the platform remains solvent even during extreme market conditions and can always cover trader profits. Additionally, all RUJI Perps contracts have been audited and are open source, providing transparency and trust for the community.

⚡Word of Caution

We want to caution the community regarding their positions, as RUJI Perps currently relies solely on the TOR price feed. This price feed has, at times, experienced price deviations due to large swaps, which can lead to unintended liquidations, even if the global market price never reached the liquidation level.

To mitigate this risk, we have only listed markets where the underlying pools on THORChain have sufficient liquidity depth to avoid large deviations, and have placed limits on maximum liquidity and leverage. However, some risk still remains. Please trade responsibly, as all positions carry risk and any losses incurred are the sole responsibility of the trader.

⚡Next Steps

The next big upgrade to RUJI Perps will take place once Enshrined Oracles go live on mainnet, expected with THORChain v3.9. These oracles will provide a more robust price feed, collected from multiple centralized exchanges (CEXes), significantly reducing the risk of price manipulation. Once Enshrined Oracles are live, you can expect more markets, higher liquidity caps, and leverage of up to 50x.

⚡Support and Feedback

If you need help with RUJI Perps, join our Telegram or open a support ticket in the Dev Discord.

While we have conducted extensive testing, minor bugs may still occur. If you encounter an issue, please use the “Help” button in the bottom-right corner to let us know, so we can continue improving the product.