The Purple
field guide.

Purple is a perpetual trading product built for Robinhood Chain. Find a market, express a view, and manage your exposure in one considered workspace.

Crypto, equities, ETFs, and commodities sit side by side. The terminal brings together market discovery, live price charts, order entry, and account management, with the same Purple experience from your first order to your next idea.

Perpetuals provide price exposure without an expiry date. A position does not give you ownership, redemption rights, or shareholder rights in the underlying asset.

1. 01

   Connect your wallet

   Use a compatible EVM browser wallet and switch to Robinhood Chain. Connecting reveals your public address; it does not place an order.

2. 02

   Prepare your trading account

   Open Account to check your collateral and available margin. Account creation, deposits, and session authorization are separate actions with their own confirmations.

3. 03

   Choose your market

   Browse crypto and RWA markets. Check the mark price, liquidity, funding, and allowed leverage before sizing an order.

4. 04

   Review, then submit

   Choose long or short, set your size and order type, and review the details. Track the order status and position after submission.

Start with an asset you understand. Purple groups markets by the exposure they represent, while retaining the symbol, funding, volume, and open interest of each market.

Read the market before the number

Underlying market hours, holidays, news, and reference-price availability can affect liquidity and price behavior. Available markets and trading constraints may change. An order book snapshot shows current displayed liquidity, not a guarantee that your order can fill at that size.

Mark price is used for risk and account valuation. Your execution price depends on the orders available when a trade fills. Daily change, volume, and open interest describe different aspects of the market; none is a forecast.

Size is exposure. Margin supports it.

Notional measures the position’s market exposure. Leverage changes the relationship between that exposure and the collateral supporting it. Increasing leverage narrows the room for an adverse price move; it does not improve the underlying trade.

Close with intent

Position-close actions use reduce-only order behavior. A close may fill partially, and a cancellation can race with a fill. Check the confirmed remaining position after either action.

Funding keeps perpetuals connected.

Funding is a recurring transfer associated with holding a perpetual position. Its direction and amount depend on the market and venue. A displayed positive rate commonly means longs pay shorts; verify the current market’s funding rules and schedule.

The rate in Purple’s market display is the upstream reported rate. It is not a guaranteed annual return or a fixed holding cost. Funding settlement is determined by the execution venue, and can change while a position is open.

Liquidation follows account risk.

When account collateral no longer meets the applicable maintenance requirement, the venue can reduce or liquidate positions. Mark prices, other positions, funding, fees, and collateral changes can affect that threshold.

Know which environment you are using.

Live account risk follows the external execution venue. Purple’s separate development contracts use their own isolated-margin rules. The local practice engine, if used in a development build, has simulated balances and does not model live funding or venue risk.

Your wallet balance and your trading account balance are separate. Depositing collateral moves supported tokens into the execution venue’s custody contract. Available trading margin reflects that account’s collateral and current obligations.

Two assets. Two purposes.

Trading sessions

A wallet-signed registration authorizes a client-side trading key. The session can place and manage orders within its permissions. Protect the device and end sessions you no longer need. Purple does not send your wallet private key to a server.

Deposits & withdrawals

Review token allowances, destination, amount, and network before approving a transaction. A wallet transaction may confirm before the venue credits a deposit. Secure withdrawals target the owning wallet and still depend on the venue’s processing and account constraints.

Know the cost before you trade. Purple separates its service fee from execution fees, funding, and gas. Fee collection is implemented but disabled until a real collector is configured and verified.

The Purple rate is 100 parts per million: 1 basis point, or 0.01%. Reduce-only exits, order cancellation, and withdrawals carry no Purple fee. Execution fees and other applicable costs still apply.

Your approval comes first

An activated Purple fee requires an eligible account tier and your separate approval of the collector, fee caps, and 30-day expiry. A Plus upgrade is an explicit choice. Plus currently charges a 0.5 bp maker and taker execution fee in addition to the Purple fee, and the upgrade can affect other accounts attached to the same wallet.

Review the live account schedule and approval before signing. Purple does not automatically upgrade your account or lower signed fees from a browser token balance. Revoking an approval does not cancel resting orders; cancel those separately.

Fill history shows fee rates and trade details. A displayed rate is not proof of cash received by Purple or an available rebate. Token benefits are not active in this release.

Token contract: 0x38F0736E110F791eD2fd9ef0BBD9813B7360f6De

Published launch terms

These observed terms supersede the earlier USDG-pair, zero-creator-tax, and no-bundled-purchase proposal. The launch transaction minted the supply to the curve and included a creator purchase of approximately 11.36 million PURPLE. Its 0.02 ETH purchase included a 0.0002 ETH base fee and 0.0005 ETH creator tax. Curve fees are separate from Purple perpetual trading fees and are not automatically routed into the fee flywheel. View the launch transaction.

These are dated chain observations, not a live liquidity report or a certification of launch fairness. The ETH curve must graduate before its canonical pool and liquidity lock can be checked. Pool inventory is not tokens already distributed to individual holders.

Trading activity, connected to PURPLE

The treasury implementation allocates up to 40% of reconciled Purple trading service revenue to market purchases followed by verified PURPLE burns, 40% to operations, and 20% to stable reserves. Revenue includes only received fees after funded rebates and corrections. Collection costs and outstanding obligations must be recorded and funded before purchases. Trader collateral and funding payments are excluded. The treasury is not activated.

Purchases require funded obligations and six months of operating reserves remaining afterward. Unspent budgets stay in reserves and create no promise of future purchases. Every executed purchase and burn would have public receipts. There is no price floor, yield, or guaranteed return.

PONS's native buyback uses a five-year vesting vault for its beneficiaries; it does not burn tokens. The proposal keeps that mechanism disabled, and it was disabled in the observed launch. Purple has implemented a separate fee-funded purchase-and-burn path, gated by funding and verified market dependencies. Its current USDG/ERC20 swap adapter cannot use the native ETH pair. A compatible conversion route, independent prices, and review of the actual pool are required before activation.

Optional membership, built around use

1. Trade without holding PURPLE. Membership is optional.
2. The membership contract requires a seven-day seasoned stake, with a seven-day withdrawal cooldown. An unstaking request immediately removes that amount from eligible holdings.
3. Candidate tiers at 10,000, 50,000, and 250,000 PURPLE offer funded rebates of 25%, 40%, and 50% of the Purple fee. These thresholds require launch-price and usage review before activation.
4. The configured Purple fee is 1 basis point on new-order fills. Rebates apply only to that component. Execution fees, funding, and gas remain separate.

At $100,000 of fee-bearing notional, the gross Purple fee is $10. An activated 50% tier could create a separate $5 claim after historical eligibility is verified and the rebate is funded. The trader pays $10 at execution; the benefit arrives after claiming. This is an illustration, not a current benefit. No staking yield, guaranteed return, or token emissions are proposed.

Built, with clear activation gates

Signed collection, historical membership, funded claims, and treasury accounting are implemented. The fee integration defaults to zero until its collector is verified. PURPLE is issued; the economy modules still require real addresses, final parameters, contract verification, and funded acceptance before activation.

Participation with a defined scope

Holders could help prioritize reviewed listings, product features, and community budgets. Initial votes would be advisory. Enforceable governance would cover only Purple-controlled parameters, with historical voting power and delayed execution. Token votes cannot change reference prices, seize trader collateral, or unlock initial liquidity.

Crypto and RWA perpetuals are available in the trading terminal. A separate PURPLE leveraged spot engine is implemented, with long-only entry capped at 2x after execution costs. It has no active market. Adequate liquidity, independent prices, lender funding, and liquidation testing are still required. Membership stake and the operating treasury are separate from its collateral. Full long/short PURPLE perpetuals would require an additional release.

Purple brings market discovery, order signing, and account management into one trading experience. Live trading uses external execution, custody, and settlement infrastructure on Robinhood Chain.

What this means for your account

Orders are signed in your browser and submitted to the execution network. The venue provides liquidity, matching, margin rules, and funding; its deployed contracts handle custody and settlement.

The trading wallet is on chain ID 4663. The venue signer also uses its own signing-domain identifier; that domain must not be confused with the wallet’s network ID.

Purple modules

Purple's membership, rebate, treasury, and isolated spot-credit contracts are separate modules with their own activation gates. Their code is implemented, but they are not deployed or activated for users in this release. They do not replace the perpetual trading infrastructure described above.

Earlier collateral, perpetual, and liquidity-vault prototypes remain development work in a separate testnet environment. They do not establish a live PURPLE perpetual market.

Robinhood Chain is an Ethereum-compatible Arbitrum Layer 2. Purple’s live trading path uses Robinhood Chain mainnet; development contracts use the separate testnet.

Use official network settings when adding a chain to your wallet. Assets on one network are not automatically available on another; review the supported route when bridging or depositing.