# Introduction
### What Everstrike is
Everstrike is a decentralized exchange for spot, perpetual futures, and perpetual options.
You write a strategy in plain English. Everstrike evaluates it with AI and can place trades when your conditions are met and the result clears your minimum confidence threshold.
Every strategy evaluation produces an [event](/ai/events). Events record the decision, confidence, and trading context behind each action.
Everstrike supports both self-custodied and managed trading flows. In **DEX mode**, you connect your own wallet. In **CEX mode**, Everstrike manages the wallet for you. See [DEX Mode vs. CEX Mode](/account/dex-mode-vs.-cex-mode) for the difference.
Everstrike supports [Arbitrum One, Base, Ethereum, and Binance Smart Chain](/account/supported-networks-and-stablecoins).
### What vibetrading means
Vibetrading means writing [strategies](/ai/strategies) as prompts instead of placing manual orders.
A strategy defines:
* the markets to watch
* the instructions the AI should follow
* the minimum confidence required before trading
You do not need to write code. You do need to set clear instructions, position sizing, and risk limits.
### What to read next
* Start with [How to start trading on Everstrike](/trading/how-to-start-trading-on-everstrike)
* Learn how [strategies](/ai/strategies) work
* Check [Trading Fees](/trading/trading-fees)
* Review [Supported Networks and Stablecoins](/account/supported-networks-and-stablecoins)
# Products
# Perpetual Futures
Perpetual futures provide indefinite leveraged delta exposure to a specific asset.
Perpetual futures are no-expiration futures that are subject to [Funding](/trading/funding). Use them for continuous leveraged delta exposure without choosing an expiration date.
On Everstrike, perpetual futures are priced, margined, and settled in [evUSD](/account/evusd). They are [cash-settled](https://www.investopedia.com/terms/c/cashsettlement.asp), so no physical delivery of the underlying asset takes place.
## Specification
| Settlement | Cash |
| ------------------- | --------- |
| Expiration | Perpetual |
| Pricing Currency | evUSD |
| Margin Currency | evUSD |
| Settlement Currency | evUSD |
| Funding | Hourly |
| Funding Interval | 1h |
| Max Funding Rate | 0.3% |
| Funding Period | 10h |
Notes:
* Funding is exchanged during the first five seconds of each hour.
* Trading is disabled during the first ten seconds of each hour.
* The hourly funding rate is capped at 0.3%.
## Funding
Funding-based derivatives are subject to [Funding](/trading/funding). Funding is an hourly exchange of money between longs and shorts.
* Positive funding rate: longs pay shorts.
* Negative funding rate: shorts pay longs.
`Funding (Long) = -Funding Rate * Position Size (USD)`
`Funding (Short) = Funding Rate * Position Size (USD)`
Funding takes place during the first five seconds of each hour. During this time, Everstrike takes a snapshot of open positions and debits or credits each trader's margin balance according to the formulas above.
### Funding rate
First calculate the premium:
`Premium = ((Mark Price - Index Price) / Index Price)`
Where:
* `Mark Price` is the current trading price of the perpetual future.
* `Index Price` is the spot reference price of the underlying asset.
* `Premium` is the relative difference between the two.
Next calculate the base funding rate:
`Base Funding Rate = Max(dampener, Premium) + Min(dampener, Premium)`
For perpetual futures, `dampener = 0.03`.
Finally, calculate the funding rate:
`Funding Rate = Base Funding Rate * (Funding Interval/Funding Period)`
### Funding period
The Funding Period on Everstrike is 10 hours.
### Funding interval
The Funding Interval on Everstrike is 1 hour.
## Settlement
Perpetual futures are cash-settled. When you close a position, Everstrike realizes the position P/L and credits it to your cash balance. This happens automatically, usually within one second.
## Expiration
Perpetual futures do not expire.
## Equivalence with perpetual options
A perpetual futures contract is [functionally equivalent](https://blog.everstrike.io/perpetual-options-vs-perpetual-futures/) to a perpetual call option with strike price zero. They share the same payoff function. Funding for perpetual futures works in the same way as funding for [perpetual options](/products/perpetual-options).
## Example 1
A trader opens a long BTC perpetual futures position when the contract trades at $23,000.
One month later, the contract trades at $24,000. The trader has paid a total of $100 in funding.
If the trader closes the position now, the net P/L is:
`$24,000 - $23,000 - $100 = $900`
This amount is credited to the trader's cash balance on close.
## Example 2
A trader opens a long BTC perpetual futures position when the contract trades at $23,000.
One month later, the contract trades at $22,800. The trader has received a total of $500 in funding.
If the trader closes the position now, the net P/L is:
`$22,800 - $23,000 + $500 = $300`
This amount is credited to the trader's cash balance on close.
# Perpetual Options
Perpetual options provide indefinite leveraged delta, gamma, vega, and theta exposure.
Perpetual options are no-expiration options that are subject to [Funding](/trading/funding). Use them for continuous delta, gamma, vega, and theta exposure without choosing an expiration date.
On Everstrike, perpetual options are priced, margined, and settled in [evUSD](/account/evusd). They are [cash-settled](https://www.investopedia.com/terms/c/cashsettlement.asp), so no physical delivery of the underlying asset takes place.
The options use a dynamic strike price that is pinned to the 100-hour EMA of the underlier, plus or minus a fixed multiplier that varies by contract. This keeps the contracts relevant in perpetuity.
## Specification
| Settlement | Cash |
| ---------------------------- | -------------------------------- |
| Expiration | Perpetual |
| Pricing Currency | evUSD |
| Margin Currency | evUSD |
| Settlement Currency | evUSD |
| Funding | Hourly |
| Funding Interval | 1h |
| Max. Funding Rate | 10% |
| Funding Period | 10h |
| Strike Price | EMA₁₀₀ (Underlier) \* Multiplier |
| Strike Price Update Interval | 5 seconds |
Notes:
* *EMA₁₀₀* is the 100-hour [Exponential Moving Average](https://en.wikipedia.org/wiki/Moving_average).
* *Underlier* is the [Everstrike Index Price](/trading/index-price) of the contract's underlying asset.
* *Multiplier* is any of \[0.90,0.95,0.97,0.99,1,1.01,1.03,1.05,1.10]. Each options contract has a unique Multiplier.
* *evUSD* refers to Everstrike's internal stablecoin, [Everstrike USD](/account/evusd).
* *Strike Price Update Interval* is the interval at which the strike price is updated.
* *Max Funding Rate* is the maximum [funding rate](/trading/funding) possible for the contract.
* *Funding Interval* is the interval between each [funding](/trading/funding) exchange. The exchange takes place during the first five seconds of each hour. Trading is disabled during the first ten seconds.
## Strike prices
Perpetual options on Everstrike have dynamic strike prices. This removes the need to delist old contracts and list new ones. The default strike price anchor is the 100-hour Exponential Moving Average, or EMA₁₀₀, of the contract's underlier. Contract strike prices cluster around this number using a fixed percentage offset per contract.
This design has several benefits:
* You can trade the same contract in 20 years from now that you are trading today.
* There are no de-listings of contracts. You will never be forced to close out a position due to a contract being de-listed.
* The options chain is completely stable. The same 18 contracts, forever.
The tradeoff is that strike price movement affects P/L. [Drift](/trading/drift) helps you measure that effect.
### Example strike price selection
* 1.1 \* EMA₁₀₀ (Underlier)
* 1.05 \* EMA₁₀₀ (Underlier)
* 1.03 \* EMA₁₀₀ (Underlier)
* 1.01 \* EMA₁₀₀ (Underlier)
* 1.00 \* EMA₁₀₀ (Underlier)
* 0.99 \* EMA₁₀₀ (Underlier)
* 0.97 \* EMA₁₀₀ (Underlier)
* 0.95 \* EMA₁₀₀ (Underlier)
* 0.90 \* EMA₁₀₀ (Underlier)
Where EMA₁₀₀ is the 100-hour Exponential Moving Average, and Underlier is the option's underlying asset.
### EMA₁₀₀
EMA₁₀₀ refers to the 100-hour Exponential Moving Average. It is calculated using the following formula:
`EMA₁₀₀ = EMA_100[Pₜ,Pₜ₋₁,…Pₜ₋₉₉],`
where
`EMA_100 = 100-length Exponential Moving Average`
`Pₜ = Everstrike Index Price (right now)`
`Pₜ₋₁ = Everstrike Index Price (1 hour ago)`
`Pₜ₋₉₉ = Everstrike Index Price (99 hours ago)`
## Funding
Funding-based derivatives are subject to [Funding](/trading/funding). Funding is an hourly exchange of money between longs and shorts.
* Positive funding rate: longs pay shorts.
* Negative funding rate: shorts pay longs.
`Funding (Long) = -Funding Rate * Position Size (USD)`
`Funding (Short) = Funding Rate * Position Size (USD)`
Funding takes place during the first five seconds of each hour. During this time, Everstrike takes a snapshot of open positions and debits or credits each trader's margin balance according to the formulas above.
### Funding rate
First calculate the premium:
`Premium = ((Mark Price - Index Price) / Index Price)`
Where:
* `Mark Price` is the current trading price of the perpetual option.
* `Index Price` is the spot reference price of the underlying asset.
* `Premium` is the relative difference between the two.
Next calculate the base funding rate:
`Base Funding Rate = Max(dampener, Premium) + Min(dampener, Premium)`
For perpetual options, `dampener = 1.00`.
Finally, calculate the funding rate:
`Funding Rate = Base Funding Rate * (Funding Interval/Funding Period)`
### Funding period
The Funding Period on Everstrike is 10 hours.
### Funding interval
The Funding Interval on Everstrike is 1 hour. This makes the gamma and vega profile of options on Everstrike similar to European-style 0DTE options. For more detail, see [Perpetual Options: The Greeks](https://blog.everstrike.io/perpetual-options-the-greeks/).
## Drift
[Drift](/trading/drift) is unique to floating-strike options such as perpetual options, Asian options, and floating-strike lookback options. It measures how strike price movement affects intrinsic value. A Drift of 2% means strike price movement increases intrinsic value by 2% per hour. A Drift of -2% means the opposite.
TLDR; Expected hourly percentage change in intrinsic value (from strike price movement only).
Drift is often correlated with the funding rate. A negative Drift will often result in a negative funding rate, and vice versa. Everstrike displays Drift in the frontend UI alongside the funding rate. Unlike funding, Drift is informational only. No transfers ever take place because of Drift.
Read more in [Drift](/trading/drift).
## Settlement
Perpetual options are cash-settled. When you close a position, Everstrike realizes the position P/L and credits it to your cash balance. This happens automatically, usually within one second.
## Expiration
Perpetual options do not expire.
## Equivalence with perpetual futures
A perpetual call option with strike price zero is functionally equivalent to a perpetual futures contract. They share the same payoff function.
[Funding](/trading/funding) for perpetual futures works in the same way as funding for perpetual options.
## Additional notes
* Trading is disabled during the first ten seconds of each hour.
* The hourly funding rate is capped at 10%.
## Example 1
A trader buys a perpetual BTC call option for 100 USD. The strike price is pinned to EMA₁₀₀(BTC). At entry, EMA₁₀₀(BTC) is 22,000 and BTC trades at 22,100.
Twelve hours later, EMA₁₀₀(BTC) has risen to 22,100 and BTC trades at 22,500. The trader has paid $100 in funding.
If the trader closes the option now, the net P/L is:
`$22,500 - $22,100 - $100 - $100 = $200`
This amount is credited to the trader's cash balance on close.
## Example 2
A trader buys a perpetual BTC put option for 10 USD. The strike price is pinned to EMA₁₀₀(BTC). At entry, EMA₁₀₀(BTC) is 22,000 and BTC trades at 22,100.
Twelve hours later, EMA₁₀₀(BTC) has risen to 22,100 and BTC trades at 21,500. The trader has paid $300 in funding.
If the trader closes the option now, the net P/L is:
`$22,100 - $21,500 - $10 - $300 = $290`
This amount is credited to the trader's cash balance on close.
# Perpetual Volatility Indices
The perpetual BTC volatility index (PVIX-BTC) is a perpetual index that settles to the average Funding Rate across all perpetual BTC options contracts on Everstrike. PVIX-BTC enables market participants to have direct vega exposure, without taking directional risk.
PVIX-BTC is scheduled for Testnet release in Q3 2027.
# Perpetual Variance Swaps
Perpetual BTC [variance swap](https://en.wikipedia.org/wiki/Variance_swap) (PVAR-BTC). Scheduled for Testnet release in Q4 2027. Follow our [X](https://x.com/everstrike_dex) for updates.
# Trading
# Margin Requirements
Minimum initial and maintenance margin requirements for perpetual futures and perpetual options.
All contracts on Everstrike are USD-margined.
Cross Margin is the default. Positions share the same margin pool.
Traders can optionally switch to Isolated Margin.
Portfolio Margin is not currently supported.
This page defines the minimum initial and maintenance margin requirements for perpetual futures and perpetual options.
{% hint style="info" %}
The formulas below define minimum required margin. If margin falls below the maintenance requirement, the position can become subject to [liquidation](/trading/liquidation).
{% endhint %}
### Perpetual futures
| Property | Value |
| ----------------------- | ----------------------------------------------------------- |
| Min. Initial Margin | 0.01 \* Position Size + Abs(Funding Rate) \* Position Size |
| Min. Maintenance Margin | 0.005 \* Position Size + Abs(Funding Rate) \* Position Size |
| | |
### Perpetual options
#### Long options
| Property | Value |
| ----------------------------------- | ---------------------------------------------------------- |
| Min. Initial Margin (Long Call) | 1.00 \* Position Size + Abs(Funding Rate) \* Position Size |
| Min. Initial Margin (Long Put) | 1.00 \* Position Size + Abs(Funding Rate) \* Position Size |
| Min. Maintenance Margin (Long Call) | 0.50 \* Position Size + Abs(Funding Rate) \* Position Size |
| Min. Maintenance Margin (Long Put) | 0.50 \* Position Size + Abs(Funding Rate) \* Position Size |
#### Short options
| Property | Value |
| ------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Min. Initial Margin (Short Call) | Max (0.06 \* Underlier Index Price - OTM Amount/Underlier Index Price, 0.04 \* Underlier Index Price) + Mark Price + Abs(Funding Rate) \* Position Size |
| Min. Initial Margin (Short Put) | Max (Max (0.06 \* Underlier Index Price - OTM Amount/Underlier Index Price, 0.04 \* Underlier Index Price) + Mark Price, Min. Maintenance Margin) + Abs(Funding Rate) \* Position Size |
| Min. Maintenance Margin (Short Call) | 0.02 \* Underlier Index Price + Mark Price + Abs(Funding Rate) \* Position Size |
| Min. Maintenance Margin (Short Put) | Max (0.02 \* Underlier Index Price, 0.02 \* Mark Price) + Mark Price + Abs(Funding Rate) \* Position Size |
{% hint style="info" %}
`Abs(Funding Rate)` is capped at `0.3%` for perpetual futures and `10%` for perpetual options.
{% endhint %}
### Definitions
* *Abs(Funding Rate)* refers to the absolute value of the [Funding Rate](/trading/funding).
* *Underlier* refers to the underlying asset of the derivatives contract.
* *OTM Amount* refers to the out-of-the-money (OTM) amount of the options contract. An options contract that is $1,000 out-of-the-money will have an *OTM Amount* of $1,000.
* *Underlier Index Price* refers to the [Index Price](/trading/index-price) of the underlying asset.
* *Mark Price* refers to the [Mark Price](/trading/mark-price).
# Trading Fees
Current maker and taker fees for Everstrike perpetual and spot markets.
Everstrike currently charges `0.00%` maker and taker fees for perpetual options, perpetual futures, and spot.
### Fee schedule
| Product Type | Taker Fee | Maker Fee |
| ------------------- | --------- | --------- |
| Perpetual Options\* | 0.00% | 0.00% |
| Perpetual Futures | 0.00% | 0.00% |
| Spot | 0.00% | 0.00% |
### Maker and taker fees
* A **maker** order adds liquidity to the order book.
* A **taker** order matches available liquidity immediately.
### Perpetual options fee cap
Perpetual options trading fees are charged as a percentage of the underlier. The fee can never exceed `12.5%` of the option's [Mark Price](/trading/mark-price).
The underlier is the option contract's underlying asset.
# Liquidation
Learn when liquidation starts, how incremental orders work, and how to restore margin.
Everstrike liquidates positions incrementally rather than closing them immediately. Each order reduces one position at a time. Liquidation stops when your margin again meets the maintenance requirement.
Read [Margin Requirements](/trading/margin-requirements) for the applicable minimum margins.
### When liquidation starts
Liquidation starts when Gross Position Margin falls below the Minimum Maintenance Margin requirement.
* With **Cross Margin**, the system evaluates your account-wide margin.
* With **Isolated Margin**, the system evaluates each position separately.
### How liquidation works
1. The system temporarily controls a position selected for liquidation.
2. It assesses whether market conditions support an acceptable close-out price.
3. It submits an Immediate Or Cancel (IOC) order if they do.
4. A filled order reduces the position and its maintenance requirement.
5. The system returns control when margin meets the requirement.
If margin remains below the requirement, the system can repeat this process.
#### Liquidation order size
Each order uses the following notional value:
`Order Notional (USD) = Min(Position Size (USD), Max(0.10 × Position Size (USD), 1,000 USD))`
The order is at least 10% of the position's USD notional. It is at least `1,000 USD` when possible. It never exceeds the remaining position value.
### During liquidation
The trading interface shows a warning beside a position in liquidation. While the warning appears, you cannot submit or cancel orders for that position.
You can add margin while liquidation is active:
* With **Cross Margin**, deposit additional assets into your trading account.
* With **Isolated Margin**, add margin to the affected position. Drag the leverage slider left.
Adding margin can return the position to compliance. You cannot increase leverage while liquidation is active.
When the position exits liquidation, the warning disappears. You can submit new orders after one minute. Liquidation orders appear in your orders overview in real time.
### Market conditions and liquidation failure
The system considers market depth, estimated average fill price, and recent executions. It submits an order only when these conditions support the close-out.
Extreme price movements or insufficient liquidity can prevent liquidation from completing. In that case, the position can transfer to a [Liquidity Provider](/trading/liquidity-providers). Learn how Everstrike handles the resulting risk in [Deleverage Events](/trading/deleverage-events).
# Liquidity Providers
Learn how Liquidity Providers handle positions after failed liquidation.
Liquidity Providers can take over positions when incremental liquidation fails. This helps manage positions during insufficient liquidity or rapid price moves.
Read [Liquidation](/trading/liquidation) for the standard liquidation process. Read [Margin Requirements](/trading/margin-requirements) for maintenance-margin rules.
### When liquidation can fail
Liquidation can fail in either of these conditions:
* **Insufficient liquidity:** The market cannot fill a liquidation order.
* **Fast-moving markets:** The Mark Price reaches bankruptcy before liquidation completes.
When this happens, the position can transfer to a Liquidity Provider. A provider takes over the position at its Bankruptcy Price. This gives the provider time to hedge the acquired exposure.
### Price thresholds
These thresholds use the contract's Mark Price.
#### Liquidation Price
The Liquidation Price is where a position enters liquidation. At this price, Gross Position Margin falls below the Minimum Maintenance Margin requirement.
#### Failure Price
The Failure Price is where liquidation is considered failed. At this price, the position's Gross Position Margin equals 50% of its Minimum Maintenance Margin requirement.
#### Bankruptcy Price
The Bankruptcy Price is where the position's Gross Position Margin reaches zero. A Liquidity Provider takes over the position at this price.
### Price thresholds and outcomes
For a long position:
1. Liquidation starts when the Mark Price drops below the Liquidation Price.
2. The system attempts to reduce the position incrementally.
3. If the Mark Price recovers, the position can exit liquidation.
4. If the Mark Price reaches the Failure Price, liquidation has failed.
5. A Liquidity Provider can take over the position at the Bankruptcy Price.
For a short position, the same thresholds apply in the opposite price direction.
### Cross Margin
With Cross Margin, the risk system manages Gross Position Margin for each position automatically. Positions become subject to liquidation only when account-wide Gross Position Margin falls below the account-wide Minimum Maintenance Margin requirement.
### If no provider takes over
If liquidation fails and no Liquidity Provider takes over, Everstrike can initiate a [Deleverage Event](/trading/deleverage-events).
# Deleverage Events
Understand when deleveraging occurs and how Everstrike selects affected counterparties.
A Deleverage Event limits losses when normal liquidation cannot resolve a bankrupt position. It closes selected counterparty positions instead of applying a loss across all profitable traders.
Read [Liquidation](/trading/liquidation) and [Liquidity Providers](/trading/liquidity-providers) for the preceding risk controls.
### When deleveraging occurs
A Deleverage Event occurs only when all of these conditions apply:
1. A position reaches its Bankruptcy Price.
2. The position cannot be sold at that price.
3. No Liquidity Provider takes over the position.
4. The Insurance Fund cannot cover the resulting loss.
Fast-moving markets can prevent a liquidation order from filling. A lack of opposing liquidity can also prevent a sale at the Bankruptcy Price.
Incremental liquidation and [Risk Limits](/trading/risk-limits) reduce the likelihood of this outcome. They cannot eliminate it during extreme market conditions.
### How deleveraging works
A Deleverage Event automatically closes the bankrupt position at its Bankruptcy Price. The system then selects one or more counterparties and closes their positions.
This differs from socialized loss, where losses are distributed among profitable traders.
### Counterparty selection
The system prioritizes counterparties with high leverage and high profit. A higher score increases the likelihood of selection:
`Selection Score = Leverage × Position Size × Return on Equity (ROE)`
Where:
* `Leverage` is the leverage applied to the position.
* `Position Size` is the position's notional size.
* `ROE` is the position's Return on Equity.
### What you will see
Deleverage Events appear in your trade history. If the system selects you, Everstrike also sends a detailed email notification.
# Index Price
## Overview
The Everstrike Index Price is a derived price. It uses real-time prices from selected spot exchanges.
The Index Price supports the [Everstrike Mark Price](/trading/mark-price). It updates once per second.
Everstrike excludes outlier prices before calculating the average. This protects the Index Price against price manipulation.
{% hint style="info" %}
The exact outlier threshold and calculation method are not currently specified.
{% endhint %}
## Constituent exchanges
The following spot exchanges contribute prices to the Index Price:
* Kraken
* Coinbase
* Binance
* Bitfinex
* Kucoin
* Huobi
* Gate.io
* Bitget
* OKX
* Crypto.com
## Contract index prices
Everstrike calculates an Index Price for each derivatives contract.
### Perpetual options
For perpetual options, the Index Price equals the option's intrinsic value. Everstrike derives this value from its underlying perpetual futures Index Price.
When intrinsic value is zero, Everstrike uses a fallback value:
`Option Index Price = 0.05% × Underlying Futures Index Price`
For example, if the underlying futures Index Price is `$100,000`, the fallback is `$50`.
# Mark Price
The Everstrike Mark Price is a manipulation-resistant reference price. Everstrike uses it to liquidate positions.
Using the Last Traded Price could enable market manipulation. The Mark Price reduces that risk.
Everstrike calculates the Mark Price in four stages:
1. Calculate the Index Price from selected spot exchanges.
2. Calculate bid and ask Fair Prices from the order book.
3. Smooth the difference between the Fair Price and Index Price.
4. Clamp the result within a permitted range around the Index Price.
## Everstrike Index Price
The Everstrike Index Price is the average price across selected spot exchanges. Everstrike excludes outliers before calculating the average.
It represents the broader market price. See [Index Price](/trading/index-price) for supported exchanges and option index prices.
## Everstrike Fair Price
The Everstrike Fair Price is one of the following:
* The price at depth `X` in the order book (Impact Price)
* A scaled multiple of the current best price (Scaled Best Price)
`X` is the order-book depth used for the calculation. It varies by trading pair.
For bids, the formula is:
`Fair Price (Bid) = Max(Impact Price, Scaled Best Price)`
For asks, the formula is:
`Fair Price (Ask) = Min(Impact Price, Scaled Best Price)`
For the Bitcoin perpetual futures contract, `X` is currently `0.3 BTC`. The [Markets API](https://docs.testnet.everstrike.io/#tag/Public/operation/pairs) provides the value for each trading pair.
Everstrike averages the bid and ask Fair Prices for the Mark Price calculation:
`Fair Price = (Fair Price (Bid) + Fair Price (Ask)) / 2`
## Scaled Best Price
The Scaled Best Price applies a pair-specific multiplier to the current best price.
For bids:
`Scaled Best Price (Bid) = Multiplier * Best Bid`
For asks:
`Scaled Best Price (Ask) = Multiplier * Best Ask`
The multiplier varies by trading pair. For the Bitcoin perpetual futures contract, it is currently `0.001`. The [Markets API](https://docs.testnet.everstrike.io/#tag/Public/operation/pairs) provides the value for each trading pair.
## Calculate the Mark Price
First, Everstrike calculates the Fair Price basis:
`Fair Price Basis = Fair Price - Index Price`
It then adds the exponentially smoothed basis to the Index Price:
`Mark Price = Index Price + EMA_Y(Fair Price Basis)`
`EMA_Y` is an exponential moving average over `Y` one-second periods. For the Bitcoin perpetual futures contract, `Y` is currently `30`.
Finally, a dampener limits the Mark Price to a permitted range around the Index Price:
`Mark Price = Min((1 + Z) * Index Price, Max((1 - Z) * Index Price, Mark Price))`
`Z` is a pair-specific range. The dampener keeps the Mark Price between `(1 - Z) * Index Price` and `(1 + Z) * Index Price`.
For futures, `Z` is a fixed percentage. For options, it is dynamic. Everstrike derives it from the option's Black-Scholes value and its underlying price.
# Funding
Funding is an hourly payment exchange between longs and shorts that keeps perpetual markets aligned with spot.
Funding is an hourly exchange of value between traders with long positions and traders with short positions. It keeps the [Mark Price](/trading/mark-price) close to the [Index Price](/trading/index-price).
* Positive funding rate: longs pay shorts.
* Negative funding rate: shorts pay longs.
When the Mark Price is above the Index Price, funding is positive. This makes long exposure more expensive and short exposure more attractive.
When the Mark Price is below the Index Price, funding is negative. This makes short exposure more expensive and long exposure more attractive.
### Funding rate
The funding rate determines how much value is exchanged every hour.
#### 1. Calculate the premium
`Premium = (Mark Price - Index Price) / Index Price`
Where:
* `Mark Price` is the Everstrike Mark Price of the contract.
* `Index Price` is the Everstrike Index Price of the contract.
* `Premium` is the relative gap between the two, expressed as a decimal. For example, `0.01 = 1%`.
#### 2. Cap the premium with the dampener
`Base Funding Rate = Min(dampener, Max(-dampener, Premium))`
This caps the base funding rate to the interval `[-dampener, +dampener]`.
The dampener varies by product:
* Perpetual futures: `0.03` = `3%`
* Perpetual options: `1.00` = `100%`
These values can change.
#### 3. Scale the base rate to the hourly funding interval
`Funding Rate = Base Funding Rate * (Funding Interval / Funding Period)`
On Everstrike:
* `Funding Period = 10 hours`
* `Funding Interval = 1 hour`
This means each hourly funding exchange applies one tenth of the capped 10-hour base rate.
#### 4. Calculate the funding payment
`Funding Payment = Funding Rate * Position Size (USD)`
`Position Size (USD)` refers to the position notional in USD.
For directional positions:
`Funding (Long) = -Funding Rate * Position Size (USD)`
`Funding (Short) = Funding Rate * Position Size (USD)`
### Example
Suppose a perpetual future has:
* `Mark Price = 101`
* `Index Price = 100`
* `Position Size = 10,000 USD`
* `dampener = 0.03`
First calculate the premium:
`Premium = (101 - 100) / 100 = 0.01 = 1%`
Then cap the premium with the dampener:
`Base Funding Rate = Min(0.03, Max(-0.03, 0.01)) = 0.01`
Then scale it to the hourly interval:
`Funding Rate = 0.01 * (1 / 10) = 0.001 = 0.1%`
Finally, calculate the payment:
`Funding Payment = 0.001 * 10,000 = 10 USD`
Because the funding rate is positive:
* The long pays `10 USD`.
* The short receives `10 USD`.
{% hint style="info" %}
For perpetual futures, the hourly funding rate is capped at `0.3%` because the base rate is capped at `3%` and the funding interval is one tenth of the funding period.
{% endhint %}
### Operational details
Everstrike exchanges funding during the first five seconds of each hour. During this window, Everstrike snapshots open positions and debits or credits each trader's margin balance.
Trading is disabled during the first ten seconds of each hour.
# Drift
Drift is the expected hourly change in a perpetual option's intrinsic value caused by strike movement.
Perpetual options on Everstrike have dynamic strike prices. The strike follows the 100-hour EMA of the underlying asset. When the underlying rises, the strike tends to rise. When the underlying falls, the strike tends to fall.
Drift measures the expected hourly change in a contract's intrinsic value that comes from this strike movement alone.
* If Drift is `5%`, the contract is expected to gain `5%` in intrinsic value per hour from strike movement.
* If Drift is `-5%`, the contract is expected to lose `5%` in intrinsic value per hour from strike movement.
### How to read Drift
Drift isolates one effect only. It tells you how moving strikes affect intrinsic value if all else stays equal.
Use it as an estimate, not a guarantee. Drift is a point-in-time value and can change continuously.
### Example
Suppose a perpetual option shows Drift of `-2%`.
If the underlying asset stays unchanged over the next hour, the contract is still expected to lose `2%` of intrinsic value from strike movement alone. If the underlying asset moves during that hour, that price move can easily outweigh the Drift effect.
### Drift vs. intrinsic value and market value
Drift applies to intrinsic value. It does not directly describe the contract's market price.
On Everstrike:
* [Index Price](/trading/index-price) is an indicator of intrinsic value.
* [Mark Price](/trading/mark-price) is an indicator of market value.
This matters because intrinsic value and market value can diverge. Drift may point to a change in intrinsic value while the Mark Price moves differently.
### What Drift is useful for
Drift helps you:
* estimate expected intrinsic value gain or loss from strike movement
* compare perpetual options contracts
* build better PnL projections
Do not use Drift on its own. Combine it with [Funding](/trading/funding) and your view on the underlying asset.
Underlying price movement usually has a much larger impact on intrinsic value than Drift.
### Drift and Funding
Drift and Funding often move together, but they are not the same thing.
If a contract has negative Drift, traders are often more willing to short it. That pressure can push Funding lower as the market moves toward equilibrium.
In that setup, a holder may lose value from Drift but receive value through hourly funding exchanges. The reverse can also happen when Drift is positive.
Drift and Funding can diverge when the contract trades at a large premium or discount to intrinsic value. In that case:
* Drift reflects strike movement
* Funding reflects the gap between market value and intrinsic value
This divergence is especially common in at-the-money and out-of-the-money options contracts.
It is possible to arbitrage Drift and Funding in some situations. Do not assume they will match exactly. Both are point-in-time estimates and can change quickly.
# Risk Limits
How isolated margin requirements scale with USD position size.
Risk Limits apply only to **Isolated Margin** positions. They increase the minimum initial margin as USD position size grows.
This reduces the maximum leverage available for large positions. It helps limit cascading liquidations, where one liquidation triggers others.
{% hint style="info" %}
Cross Margin does not use these Risk Limits. See [Margin Requirements](/trading/margin-requirements) for Cross Margin requirements.
{% endhint %}
### Initial Risk Limit
The Initial Risk Limit for futures and options is currently `0.0001%` of USD position size.
Everstrike adds this amount to the contract's base minimum initial margin requirement:
```
Minimum Initial Margin = Base Minimum Initial Margin + (Risk Limit × Position Size)
```
### Example
For an isolated futures position of `100,000 USD`:
```
Minimum Initial Margin = 1.00% + (0.0001% × 100,000) = 11%
```
The maximum leverage for this position is therefore:
```
1 ÷ 11% = 9×
```
Large isolated positions may therefore support less leverage than smaller positions.
# Self Trading
How Everstrike prevents self-trading and restricts executions to each pair’s Trading Range.
Everstrike prevents self-trading. If an order would match one of your own orders, Everstrike automatically cancels it.
This helps prevent market manipulation and wash trading. It can limit strategies that intentionally trade against their own orders, such as scratching.
### Trading Range
Each trading pair has a Trading Range. Trades can execute only within that range.
The Everstrike Risk Management System determines the range internally. In most cases, the range is a fixed percentage around the [Mark Price](/trading/mark-price).
### How orders behave
| Order type | Outcome outside the Trading Range |
| ------------ | ------------------------------------------------------------------------------------- |
| Limit buy | Automatically cancelled when priced above the upper limit. |
| Limit sell | Automatically cancelled when priced below the lower limit. |
| Market order | Receives no fills outside the range. Any unfilled portion is automatically cancelled. |
# Mark Price Compensation
Traders on Everstrike that trade far away from the current Mark Price will need to put up additional Position Margin that covers the difference between their Weighted Average Fill Price and the current Mark Price.\
\
If a trader trades 1.00% away from the current Mark Price, a Minimum Initial Margin requirement of 1.00% will increase to 2.00%:
`Old Minimum Initial Margin = 1.00% + 0.00% = 1.00%`
`New Minimum Initial Margin = 1.00% + 1.00% = 2.00%`
The purpose of this is to ensure that the trader does not have his position enter liquidation immediately upon being filled in the market. If the Minimum Initial Margin Requirement would remain at 1.00% and the trader is filled 1.00% away from the Mark Price, the trader's position could potentially go bankrupt right after being opened.
# Perpetual Vault
Understand how the vault manages trade exposure, evUSD conversion, and monthly rewards.
The Everstrike Perpetual Vault acts as counterparty to a subset of Everstrike Mainnet trades. Its value changes with those trades, protocol fees, and reward distributions.
* When traders profit against the vault, the vault pays their profits.
* When traders lose against the vault, their losses are credited to the vault.
Everstrike expects the vault to counterparty 80–90% of trades during Mainnet's first year. This share may decrease to 20–30% as external market-making activity grows. These are operating estimates, not commitments.
The Everstrike DAO may approve a proposal to phase out the vault. If approved, accumulated vault funds are distributed to [evUSD](/account/evusd) holders using the 12-month pro-rata formula.
### Risks
Vault losses can reduce the `evUSD` conversion rate. A negative Vault Balance temporarily causes `evUSD` to trade below its USDC peg.
Rewards depend on the prior month's Vault P/L. They can be zero. The DAO can also change the Vault Distribution Rate.
### evUSD conversion
The vault influences the conversion price of [Everstrike USD (evUSD)](/account/evusd).
`evUSD to USDC Conversion Rate = 1 + min(0, Vault Balance / evUSD Supply)`
Where:
* **Vault Balance** is the vault's cumulative profit since inception.
* **evUSD Supply** is the circulating supply of `evUSD`.
When the Vault Balance is positive, the conversion rate remains `1`. When it is negative, the conversion rate falls below `1`.
### Monthly rewards
Rewards are distributed at `00:00 UTC` on the first day of each month.
`Total Reward = max(0, Previous Month's Vault P/L) × Vault Distribution Rate`
Where:
* **Previous Month's Vault P/L** is the vault's profit or loss during the prior calendar month.
* **Vault Distribution Rate** is set by the Everstrike DAO. It is currently `30%`.
Only positive monthly P/L produces rewards. The undistributed share of profit is added to the Vault Balance.
Each eligible holder receives a pro-rata share. The share reflects the holder's average `evUSD` balance during the previous calendar month.
Hold at least `10 evUSD` to receive distributions. Rewards are credited automatically. No manual action is required.
### Protocol fees
Fifty percent of [protocol fees](/trading/trading-fees) generated on Everstrike Mainnet are deposited into the vault. These deposits increase the Vault Balance.
### FAQ
#### What is the vault's purpose?
The vault bootstraps liquidity during Everstrike Mainnet's early operation. It also gives `evUSD` holders exposure to vault earnings.
#### Does the vault replace institutional market makers?
No. The vault complements institutional market makers. The DAO can phase it out after market-making activity grows.
#### What happens if the Vault Balance is negative?
A negative Vault Balance reduces the `evUSD` conversion rate below `1`. The rate returns to `1` when the Vault Balance becomes positive.
#### Where can I track the Vault Balance and distribution rate?
Use the official [stats dashboard](https://app.testnet.everstrike.io/app/stats).
# How to start trading on Everstrike
Use this guide if you want to trade in [DEX mode](/account/dex-mode-vs.-cex-mode).
To get started, you need to:
1. Create an account with your email.
2. Connect your wallet.
3. Confirm wallet ownership.
4. Deposit USDC, stake it, and mint `evUSD`.
After that, you can trade on Everstrike.
If you prefer not to manage your own wallet, use [CEX mode](/account/dex-mode-vs.-cex-mode). Everstrike creates and manages a wallet for you.
### Choose your mode
* Use **DEX mode** if you want to connect your own wallet.
* Use **CEX mode** if you want Everstrike to manage the wallet.
See [DEX Mode vs. CEX Mode](/account/dex-mode-vs.-cex-mode) for the difference.
### Before you start
Make sure you have:
* Access to your email inbox.
* A supported wallet, such as [MetaMask](https://metamask.io/) or a [WalletConnect](https://explorer.walletconnect.com/) wallet.
* A wallet connected to a [network supported by Everstrike](/account/supported-networks-and-stablecoins).
### Start in DEX mode
{% stepper %}
{% step %}
### Create your account
Go to [Sign Up](https://app.testnet.everstrike.io/app/register) and enter your email.
Choose a nickname when prompted. Your nickname appears in Everstrike Chat and on the leaderboard. You cannot change it later.
{% endstep %}
{% step %}
### Connect your wallet
Open the Portfolio view and click **Connect Wallet**.
Choose **MetaMask** or **WalletConnect**. On desktop, MetaMask is usually the simplest option.
If you just installed the MetaMask extension, refresh the page before connecting.
{% endstep %}
{% step %}
### Confirm your primary wallet
Review the wallet address shown by Everstrike, then confirm it.
This links the wallet to your account. You can only connect one wallet per account and per email.
{% endstep %}
{% step %}
### Sign the ownership message
Your wallet shows a signature request. Sign the message to prove that you own the wallet.
You only do this once, the first time you connect the wallet.
{% hint style="warning" %}
After you confirm a wallet, you cannot change it. To use another wallet address, create a new account with a different email.
{% endhint %}
{% endstep %}
{% step %}
### Fund your trading balance
Everstrike uses `evUSD` as trading collateral.
To get `evUSD`, complete these steps:
1. Deposit USDC.
2. Stake USDC.
3. Mint `evUSD`.
Follow [How to Deposit, Withdraw and Stake On Everstrike](/account/how-to-deposit-withdraw-and-stake-on-everstrike) for the full process.
{% endstep %}
{% endstepper %}
Once your wallet is confirmed, you can deposit, withdraw, stake, mint, redeem, and trade.
### Why email login?
Email login lets you access your account from any device where you can access your inbox.
This is useful if your wallet is only available on one device.
### Is email login secure?
Email access lets someone sign in to your account and place trades.
Deposits, withdrawals, and wallet confirmation still require wallet approval.
Protect your account with 2FA if you want an extra layer of security.
### Which wallets are supported?
Everstrike supports [MetaMask](https://metamask.io/) and wallets supported by [WalletConnect](https://explorer.walletconnect.com/).
### What happens after I connect my wallet?
You can deposit, withdraw, and stake.
To start trading, deposit USDC, stake it, and mint `evUSD`.
### Can I connect multiple wallets?
No. Each account can only have one connected wallet.
### Do I need to confirm ownership of my wallet?
Yes. You confirm ownership by signing a message and publishing it to the blockchain.
You only do this once.
### Can I use Everstrike like a CEX?
Yes. Use [CEX mode](/account/dex-mode-vs.-cex-mode) if you want Everstrike to create and manage the wallet for you.
### Is it safe to sign a message with my wallet?
Yes, if you understand exactly what the message does.
Everstrike uses a message in this format:
`"I want to register this wallet with Everstrike and my unique account ID is "`
This message proves wallet ownership. It does not authorize asset transfers.
Never sign a message you do not understand.
### Can I trade with USDC?
No. Everstrike uses `evUSD` as collateral.
### How do I get `evUSD` in my account?
Complete these steps:
* Deposit USDC.
* Stake USDC.
* Mint `evUSD`.
See [How to Deposit, Withdraw and Stake On Everstrike](/account/how-to-deposit-withdraw-and-stake-on-everstrike) for the full guide.
### How do I convert `evUSD` back to USDC?
Use the **Redeem** operation:
* Click **Redeem** next to `evUSD` in the Portfolio Overview.
* Confirm the amount to redeem.
Redemption requests can take up to 24 hours, but are usually instant.
You can also trade `evUSD` for USDC through one of Everstrike's [spot markets](https://app.testnet.everstrike.io/app/markets).
### What’s next?
* Learn the full wallet flow in [How to Deposit, Withdraw and Stake On Everstrike](/account/how-to-deposit-withdraw-and-stake-on-everstrike).
* Compare account modes in [DEX Mode vs. CEX Mode](/account/dex-mode-vs.-cex-mode).
# Account
# Limits
WIthdrawal limits apply to [CEX mode ](/account/dex-mode-vs.-cex-mode)only.
There are no withdrawal limits in DEX mode.
### **Minimum Deposit (CEX Mode)**
| |
|---|
| Asset | Minimum Deposit |
| USD | 0.1 USD |
| USDC | 0.1 USDC |
| USDT | 0.1 USDT |
| BUSD | 0.1 BUSD |
| BTC | 0.0001 BTC |
| ETH | 0.001 ETH |
### **Maximum Deposit (CEX Mode)**
| |
|---|
| Asset | Maximum Deposit |
| USD | 100,000 USD |
| USDC | 100,000 USDC |
| USDT | 100,000 USDT |
| BUSD | 100,000 BUSD |
| BTC | 1 BTC |
| ETH | 100 ETH |
### **Minimum Withdrawal (CEX Mode)**
| **Network** | **Minimum Withdrawal** |
| ---------------- | ---------------------- |
| Polygon | 2 USD |
| Ethereum (ERC20) | 2 USD / 0.001 ETH |
| Arbitrum | 2 USD |
| Optimism | 2 USD |
| Bitcoin | 0.0007 BTC |
### **Maximum Withdrawal (CEX Mode)**
| |
|---|
| Network | Maximum Withdrawal |
| Polygon | 500,000 USD |
| Ethereum (ERC20) | 500,000 USD / 250 ETH |
| Arbitrum | 500,000 USD |
| Optimism | 500,000 USD |
| Bitcoin | 5 BTC |
# Withdrawal Fees
These withdrawal fees apply to [CEX mode ](/account/dex-mode-vs.-cex-mode)only.
There are no withdrawal fees in DEX mode.
| Network | Fee |
| ------------------- | ----- |
| Polygon | 1 USD |
| Arbitrum | 1 USD |
| Binance Smart Chain | 1 USD |
| Base | 1 USD |
| Optimism | 1 USD |
| Ethereum | 1 USD |
# Supported Networks and Stablecoins
## Everstrike Mainnet
| Network | Stablecoins |
| ------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Arbitrum One | [USDC](https://arbiscan.io/token/0xaf88d065e77c8cc2239327c5edb3a432268e5831),[USDT](https://arbiscan.io/token/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9) |
| Ethereum | [USDC](https://arbiscan.io/token/0xaf88d065e77c8cc2239327c5edb3a432268e5831),[USDT](https://arbiscan.io/token/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9) |
| Binance Smart Chain | [USDC](https://arbiscan.io/token/0xaf88d065e77c8cc2239327c5edb3a432268e5831),[USDT](https://arbiscan.io/token/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9) |
| Base | [USDC](https://arbiscan.io/token/0xaf88d065e77c8cc2239327c5edb3a432268e5831) |
## Everstrike Testnet
| Network | Stablecoins |
| ---------------- | -------------------------------------------------------------------------------------------------------- |
| Ethereum Sepolia | [Everstrike Testnet USDT](https://sepolia.etherscan.io/token/0xdc3afa4a25ac1253b35c7cfd07a70de75d02b31e) |
| Arbitrum Sepolia | [Everstrike Testnet USDT](https://sepolia.arbiscan.io/token/0x66add4e9c841144a4b48639e883ba239429b7e13) |
# Required Number of Blockchain Confirmations
The required number of blockchain confirmations for deposits depends on the network you are depositing on.
| Network | Confirmations Required | Estimated Time |
| ------------------- | ---------------------- | -------------- |
| Ethereum | 12 | \~3 minutes |
| Binance Smart Chain | 30 | \~2 minutes |
| Base | 40 | \~1 minute |
| Arbitrum | 40 | \~20 seconds |
# Missing Emails
Are you missing an email from Everstrike?
If yes, here are some things to check:
* Is the email in your spam folder?
* Gmail users only: Is the email in your *Promotions* tab?
* Did you spell your email address the same way as when signing up? (note that email addresses on Everstrike are case-sensitive).
If you still can't find it, and have waited at least 10 minutes (to rule out a potential processing delay on behalf of your email client), please [contact support](/account/contact-support).
# Trading Bonus
Understand how trading bonuses work, their restrictions, and fair-use requirements.
A trading bonus is promotional `evUSD` for trying the Everstrike Mainnet without depositing your own capital.
Use a trading bonus for testing. Trading profits made with the bonus are fully withdrawable.
### Restrictions
A trading bonus cannot be used for:
* Spot trading
* Withdrawals
* Redemptions
* Conversion into other assets
### Fair use
Do not farm trading bonuses through dozens or hundreds of related accounts.
Everstrike may blacklist accounts that breach this rule from CEX mode. Those users can still use Everstrike in DEX mode.
# Upgrade Account
Every new Everstrike Mainnet account starts out as a Lite Account. A Lite Account is subject to certain restrictions:
* Available trading pairs are limited to BTC/USD, ETH/USD and BNB/USD
* A maximum of 6 orders can be submitted per hour (1 order per 10 minutes)
* A maximum of 6 positions can be opened and closed per day (1 position per 4 hours)
* BSC, Polygon and Avalanche networks are not available when withdrawing
* The minimum ERC-20 withdrawal amount is $20
To remove these restrictions, the account holder can do **one** of the following:
* Fund their account
* Reach $2,000 in total profit on the Everstrike Testnet
* Refer three friends to Everstrike
After doing **one** of the above, the user's account will automatically be upgraded to a Full Account, and all restrictions will be immediately removed.
# Contact Support
Contact Everstrike Support by email, Telegram, or Discord.
### Contact us
Contact Everstrike Support through any of these channels:
* Email:
* Telegram: message an admin in the [Everstrike Telegram channel](https://t.me/everstrike_dex)
* Discord: message an admin in the [Everstrike Discord server](https://discord.com/invite/RS9bAdBbvH)
Urgent requests typically receive a response within 6 to 24 hours. Non-urgent requests typically receive a response within 3 to 5 business days.
### Help us investigate
Include your Everstrike account email and a clear description of the issue.
For transaction issues, include the transaction hash and the affected wallet address.
{% hint style="warning" %}
Never share your wallet recovery phrase, private keys, or password with anyone.
{% endhint %}
# evUSD
evUSD is the native stablecoin and collateral asset of Everstrike.
All positions on Everstrike are margined and priced in evUSD.
### Acquiring evUSD
evUSD can be acquired in one of the following ways:
* Minting (converting USDC to evUSD through Everstrike's built-in [mint](/account/minting) functionality)
* Trading (trading USDC for evUSD through Everstrike's [USDT/USD spot market](https://app.testnet.everstrike.io/app/trade?pair=USDT_USD)).
* Depositing in [CEX mode](/account/dex-mode-vs.-cex-mode) (stablecoin deposits in CEX mode are automatically converted to evUSD upon successful confirmation).
### Disposing of evUSD
evUSD can be converted to USDC in one of the following ways:
* Redemption (converting evUSD to USDC through Everstrike's built-in [redeem](/account/redeeming) functionality)
* Trading (trading evUSD for USDT through Everstrike's [USDT/USD spot market](https://app.testnet.everstrike.io/app/trade?pair=USDT_USD))
* Withdrawing in [CEX mode](/account/dex-mode-vs.-cex-mode) (evUSD withdrawals in CEX mode can be facilitated in USDT, USDC, BUSD or DAI).
### evUSD as a unit of account
All prices on Everstrike are quoted in evUSD.
Position values and account equity values are likewise quoted in evUSD.
Note that "evUSD" and "USD" are used interchangeably within the Everstrike Frontend UI (for simplicity of display). Any mention of "USD" will always refer to evUSD and not to US dollars.
### Perpetual Vault
evUSD powers the [Everstrike Perpetual Vault](/trading/perpetual-vault), and evUSD holders automatically receive monthly vault distributions. Read more [here](/trading/perpetual-vault).
# DEX Mode vs. CEX Mode
Choose between self-custody with your wallet or Everstrike-managed custody.
Choose the mode that matches how you want to manage your wallet.
### Key difference
In DEX mode, you connect and control your own wallet.
In CEX mode, Everstrike creates and manages a wallet for you.
| Mode | Wallet control | Best for |
| -------- | ------------------------------------------ | -------------------------------------- |
| DEX mode | You control the wallet credentials. | Users who want self-custody. |
| CEX mode | Everstrike manages the wallet credentials. | Users who prefer a managed experience. |
### Choose DEX mode
Use DEX mode if you already have a Web3 wallet. It keeps you in control of its credentials.
You must protect your recovery phrase and private keys. Everstrike cannot recover a wallet you no longer control.
[Connect a wallet and start trading](/trading/how-to-start-trading-on-everstrike).
### Choose CEX mode
Use CEX mode if you do not have a Web3 wallet. It also suits users who prefer Everstrike-managed custody.
CEX mode requires you to trust Everstrike with wallet management. You do not control the wallet credentials.
[Learn how CEX mode works](/account/cex-mode).
### Switch modes
You can switch between DEX mode and CEX mode at any time.
Switching modes does not affect your funds or positions.
# Primary Wallet
Your primary wallet connects your Everstrike account to [DEX mode](/account/dex-mode-vs.-cex-mode).
After you confirm it, you can deposit, withdraw, stake, redeem, and mint. Transfers between Everstrike Smart Contracts and your primary wallet are near-instant.
### What is a wallet?
A wallet is a blockchain address controlled through credentials, such as a private key or recovery phrase. Use wallet software, such as [MetaMask](https://metamask.io/) and [Phantom](https://phantom.com/), to interact with it.
Only connect a wallet whose credentials you control.
### Why do I need to register my wallet as primary wallet on Everstrike?
Each Everstrike account supports one primary wallet. Select the wallet you want to use with your Everstrike account.
If you use [CEX mode](/account/dex-mode-vs.-cex-mode), Everstrike manages the wallet. You do not need to register a primary wallet.
### How can I set my primary wallet?
During DEX setup, Everstrike prepares an ownership message for your wallet. Review the wallet address and account ID, then sign the message in your wallet.
Everstrike publishes the signed message to the blockchain. This proves that you control the wallet and records it as your primary wallet.
The message uses this format:
```
I want to register my wallet with Everstrike and my unique account ID is
```
For the complete setup flow, see [How to start trading on Everstrike](/trading/how-to-start-trading-on-everstrike).
### What if I want to change my primary wallet in the future?
You cannot change a confirmed primary wallet.
To use a different wallet address, create a new Everstrike account with a different email address.
### What if I lose access to my primary wallet?
Back up your wallet credentials securely before using DEX mode.
Everstrike Support cannot recover access to a wallet that you no longer control.
### Is it safe to sign a message with my wallet?
Yes, if you understand exactly what you sign.
Verify that the message contains your unique account ID and matches the format below.
```
I want to register my wallet with Everstrike and my unique account ID is
```
This message proves that you control the wallet. It does not authorize asset transfers.
Never sign a message that you do not understand or that differs from this format.
# Spending Cap
A spending cap is an ERC-20 allowance. It lets a smart contract transfer a set token amount from your wallet.
Many decentralized applications use token allowances to support deposits.
On Everstrike, the allowance lets the Deposit Contract transfer approved `USDC` from your wallet.
### Why is the spending cap necessary?
Without the spending cap, tokens cannot be deposited to the Everstrike Deposit Contract.
### What should I choose as spending cap?
The amount of tokens that you intend to deposit to Everstrike.
### How long does a spending cap last?
There is no time limit on a spending cap. It remains active until you change or revoke it.
Each transfer reduces the remaining approved amount. Once the contract spends the full amount, no allowance remains.
### Can I revoke a spending cap?
Yes. Most popular wallets, such as [MetaMask](https://metamask.io/), support spending-cap revocation.
Typically, you can do it directly through your wallet software.
### How can I set a spending cap?
Click 'Deposit' next to the asset that you intend to deposit to Everstrike, and specify the desired deposit amount. The Everstrike Frontend UI will prepare a spending cap transaction for you that you can sign within your wallet and publish to the blockchain.
For a step-by-step guide, refer to [How to Deposit, Withdraw and Stake On Everstrike](/account/how-to-deposit-withdraw-and-stake-on-everstrike).
### How long does it take to set a spending cap?
It depends on the blockchain that you are using, but in general it will take less than 20 minutes. The spending cap transaction needs to receive a specific amount of blockchain confirmations to be considered valid and final.
### Why does MetaMask display a warning when I set a spending cap on Everstrike Mainnet?
MetaMask integrates with [Blockaid](https://www.blockaid.io/), a transaction monitoring tool. It alerts you when you grant an [untrusted contract](https://support.metamask.io/configure/wallet/how-to-turn-on-security-alerts/) permission to spend tokens from your account.
The Everstrike Mainnet Deposit Contract is currently flagged as untrusted by Blockaid on Arbitrum One, Optimism, and Polygon. Until Blockaid whitelists the address, MetaMask displays a warning when you set a spending cap on Everstrike Mainnet. Other wallet operations do not trigger this warning.
**What should I do?**
Until Blockaid whitelists the Everstrike Mainnet Deposit Contract address, take extra care:
1\) Verify the contract address against the authoritative addresses below.
2\) Approve only the amount you intend to deposit. Test large deposits first.
The following are the authoritative Everstrike Mainnet Deposit Contract addresses:
* Arbitrum One: [0x61c62c067f38aa92f5db69a30b03b96c4e0b26d4](https://arbiscan.io/address/0x61c62c067f38aa92f5db69a30b03b96c4e0b26d4)
* Optimism: [0xB9C1EC4647301828Bb10f6B52584201D1C16bC8F](https://optimistic.etherscan.io/address/0xB9C1EC4647301828Bb10f6B52584201D1C16bC8F)
* Polygon: [0x4f48c6a228a0bf0c03dc53765930c0cb06f1ecd0](https://polygonscan.com/address/0x4f48c6a228a0bf0c03dc53765930c0cb06f1ecd0)
# Minting
Minting converts staked `USDC` into `evUSD`, Everstrike's trading collateral.
Use `evUSD` to trade in DEX mode.
Minting usually completes in 2 to 5 seconds. Everstrike covers the gas fee.
### Before you start
Make sure you have:
* A confirmed wallet connected to Everstrike.
* Deposited `USDC`.
* Staked `USDC`.
You need at least `0.2 USDC` in your wallet to complete the deposit flow. You also need enough gas funds for deposit and staking transactions.
### Mint `evUSD`
1. Open **Portfolio Overview**.
2. Click **Mint** next to `evUSD`.
3. Enter the amount, then confirm.
Your `evUSD` balance updates after minting completes.
For illustrated instructions, see [How to deposit, withdraw, and stake on Everstrike](/account/how-to-deposit-withdraw-and-stake-on-everstrike).
### Timing and fees
Minting usually completes in 2 to 5 seconds.
Everstrike covers the gas fee for minting. Depositing and staking require gas fees.
### Supported assets
Minting currently supports staked `USDC` to `evUSD` conversions only.
### Convert `evUSD` back to `USDC`
Use **Redeem** next to `evUSD` in **Portfolio Overview**.
Redemptions can take up to 24 hours. They are usually instant.
# Redeeming
Redemptions are Everstrike's built-in way to convert the native Everstrike stablecoin (evUSD) to USDC.
Redemptions are useful when you want to withdraw your funds from Everstrike's DEX Mode. You can use them to instantly convert your evUSD to USDC (and other stablecoins), which can then be withdrawn to your own wallet.
Most redemptions complete in under one minute. Some redemptions can take up to 24 hours.
Redemptions carry a very minimal fee (0.1 USD per redemption) and no execution costs. Thus, they are the cost-friendly alternative to selling evUSD directly on spot markets.
### How can I start a redemption?
To start a redemption, you must have at least 0.2 evUSD in your account, and you must have a (primary) wallet connected to Everstrike.
For step-by-step instructions (with pictures), refer to [How to Deposit, Withdraw and Stake On Everstrike](https://help.everstrike.io/en/articles/10127800-how-to-deposit-withdraw-and-stake-on-everstrike).
### What is the purpose of redemptions?
Use redemptions to convert evUSD to USDC before withdrawing to your wallet. They provide predictable fees and no execution costs.
### How long do redemptions take?
Redemptions can take up to 24 hours, but are usually instant.
### What is the alternative to redemptions?
Using one of Everstrike's spot markets (such as USD/USDC), or using Everstrike in [CEX mode](/account/dex-mode-vs.-cex-mode).
### Which assets are supported for redemptions?
Currently, only evUSD-USDC conversions are supported.
In the future, Everstrike plans to support other conversions, such as evUSD-USDT and evUSD-DAI.
# Testnet ETH
To get testnet ETH (useful for testing wallet operations on the Everstrike Testnet), you can use one of the many faucets that work with Ethereum Sepolia or Arbitrum Sepolia (the networks supported by the Everstrike Testnet).
[Add Ethereum Sepolia to Metamask](https://revoke.cash/learn/wallets/add-network/ethereum-sepolia)
[Add Arbitrum Sepolia to Metamask](https://revoke.cash/learn/wallets/add-network/arbitrum-sepolia)
### Ethereum Sepolia
Non-exhaustive list of faucets that provide Ethereum Sepolia ETH:
* [Alchemy Ethereum Sepolia Faucet](https://www.alchemy.com/faucets/ethereum-sepolia) (0.1 Sepolia ETH / 72 hours - requires a minimum Mainnet ETH balance of 0.001 ETH)
* [Ethereum Sepolia PoW Faucet](https://sepolia-faucet.pk910.de/) (requires a Gitcoin passport score of at least 2)
* [Google Cloud Ethereum Sepolia Faucet](https://cloud.google.com/application/web3/faucet/ethereum/sepolia) (0.05 Sepolia ETH / 24 hours - may a require a minimum Mainnet ETH balance of 0.001 - depends on the outcome of automated abuse checks)
* [Chainlink Ethereum Sepolia Faucet](https://faucets.chain.link/sepolia) (0.5 Sepolia ETH - requires a Mainnet LINK balance of at least 1)
* [GetBlock Ethereum Sepolia Faucet](https://getblock.io/faucet/eth-sepolia/) (0.1 Sepolia ETH / 24 hours - requires a minimum Mainnet ETH balance of 0.005 ETH)
* [Quicknode Ethereum Sepolia Faucet](https://faucet.quicknode.com/ethereum/sepolia) (requires a minimum Mainnet ETH balance of 0.001)
* [Triangleplatform Ethereum Sepolia Faucet](https://faucet.triangleplatform.com/ethereum/sepolia) (0.001 Sepolia ETH)
* [Metamask Ethereum Sepolia Faucet](https://docs.metamask.io/developer-tools/faucet/) (requires a Metamask/Infura developer account)
You may also check [this list](https://faucetlink.to/sepolia) for an up-to-date list of Ethereum Sepolia faucets.
### Arbitrum Sepolia
Non-exhaustive list of faucets that provide Arbitrum Sepolia ETH:
* [Alchemy Arbitrum Sepolia Faucet](https://www.alchemy.com/faucets/arbitrum-sepolia) (0.1 Sepolia ETH / 72 hours - requires a minimum Arbitrum One balance of 0.001 ETH)
* [Chainlink Arbitrum Sepolia Faucet](https://faucets.chain.link/arbitrum-sepolia) (0.5 Sepolia ETH - requires an Arbitrum LINK balance of at least 1)
* [Quicknode Arbitrum Sepolia Faucet](https://faucet.quicknode.com/arbitrum/sepolia) (requires a minimum Arbitrum One ETH balance of 0.001)
* [GetBlock Arbitrum Sepolia Faucet](https://getblock.io/faucet/arb-sepolia/) (0.1 Sepolia ETH / 24 hours - requires a minimum Arbitrum One ETH balance of 0.005 ETH)
### Arbitrum Sepolia ⇆ Ethereum Sepolia
You can use the official [Arbitrum Sepolia Bridge](https://bridge.arbitrum.io/?destinationChain=arbitrum-sepolia\&sourceChain=sepolia) to bridge Sepolia ETH between Ethereum Sepolia and Arbitrum Sepolia.
## Testnet Stablecoins
Below, you'll find a list of stablecoins supported by the Everstrike Testnet (and their respective contract addresses).
To make these stablecoins visible inside your testnet wallet, you may need to use its "Import Token" function, providing the contract addresses listed below.
### Ethereum Sepolia
* [Everstrike Testnet USDT](https://sepolia.etherscan.io/token/0xdc3afa4a25ac1253b35c7cfd07a70de75d02b31e) (0xdC3AfA4A25Ac1253b35c7Cfd07A70de75D02B31e)
* [Everstrike Testnet USDC](https://sepolia.etherscan.io/token/0x31d3376ab7ee809b6fb980ead95d2fe7cdfe5a55) (0x31d3376aB7EE809b6FB980eAD95d2FE7cdfe5A55)
* [Everstrike Testnet BUSD](https://sepolia.etherscan.io/token/0x433cbdfc00f11768f99e38d659cf85295659718f) (0x433cBdFc00f11768F99e38D659CF85295659718f)
* [Everstrike Testnet DAI](https://sepolia.etherscan.io/token/0x241f730dbfd0a684073e4c4633001a523055f445) (0x241F730dbFd0a684073e4C4633001A523055f445)
### Arbitrum Sepolia
* [Everstrike Testnet USDT](https://sepolia.arbiscan.io/token/0x66add4e9c841144a4b48639e883ba239429b7e13) (0x66add4e9c841144a4b48639e883ba239429b7e13)
* [Everstrike Testnet USDC](https://sepolia.arbiscan.io/token/0x4abd9b5767c64e4545289cf7372c172e9645cd35) (0x4abd9b5767c64e4545289cf7372c172e9645cd35)
* [Everstrike Testnet BUSD](https://sepolia.arbiscan.io/token/0x12f2b5762ae579732ff08898ceb3670ed0d82edd) (0x12f2b5762ae579732ff08898ceb3670ed0d82edd)
* [Everstrike Testnet DAI](https://sepolia.arbiscan.io/token/0xf9ff08a48e6639c369a8b3857c0f6a700615fce5) (0xf9ff08a48e6639c369a8b3857c0f6a700615fce5)
# How to deposit, withdraw, and stake on Everstrike
Use this guide to move funds in and out of Everstrike in **DEX mode**.
Everstrike supports five wallet operations:
* **Deposit**
* **Withdraw**
* **Stake**
* **Mint**
* **Redeem**
**Deposit** and **Withdraw** move funds between your wallet and Everstrike.
**Stake**, **Mint**, and **Redeem** convert between `USDC` and `evUSD`.
Everstrike currently uses `evUSD` as trading collateral. To start trading, you deposit `USDC`, stake it, then mint `evUSD`.
Before you start, complete [How to start trading on Everstrike](/trading/how-to-start-trading-on-everstrike). You need an account, a connected wallet, and a confirmed wallet address.
### Before you start
Make sure you have:
* A connected wallet.
* A wallet on a [supported network](/account/supported-networks-and-stablecoins).
* Enough gas funds for blockchain transactions.
{% hint style="warning" %}
Deposits only support `USDC` right now.
Keep at least `0.2 USDC` in your wallet to complete the deposit flow.
{% endhint %}
### Deposit `USDC`
Depositing is a two-step flow:
1. Approve the amount.
2. Submit the actual deposit.
Only approve the amount you want to deposit. If you want to deposit `10 USDC`, approve `10 USDC`.
{% stepper %}
{% step %}
### Open the Portfolio Overview
Make sure your wallet is connected and on a supported network.
{% endstep %}
{% step %}
### Start the approval
Click **Deposit** next to `USDC`, then enter the amount.
{% endstep %}
{% step %}
### Confirm the spending cap
Approve the spending cap request in your wallet.
This lets the Everstrike smart contract draw the approved `USDC` amount.
{% endstep %}
{% step %}
### Wait for the approval transaction
Wait for the approval transaction to be mined.
{% endstep %}
{% step %}
### Submit the deposit
Click **Deposit** again.
Enter the same amount you approved earlier.
This second transaction moves the funds into Everstrike.
{% endstep %}
{% step %}
### Confirm the deposit transaction
Confirm the transaction in your wallet.
{% endstep %}
{% step %}
### Wait for the deposit transaction
Wait for the deposit transaction to be mined.
{% endstep %}
{% step %}
### Check your deposited balance
After confirmation, the balance appears in the **Deposited** row next to `USDC`.
It can take a few minutes to update because Everstrike waits for enough confirmations.
{% endstep %}
{% endstepper %}
### Withdraw `USDC`
Withdrawing is a single transaction.
{% stepper %}
{% step %}
### Enter the withdrawal amount
Click **Withdraw** next to `USDC`, then enter the amount.
{% endstep %}
{% step %}
### Confirm the transaction
Confirm the withdrawal in your wallet.
{% endstep %}
{% step %}
### Wait for final confirmation
Wait for the transaction to be mined.
{% endstep %}
{% endstepper %}
### Stake `USDC`
Staking converts deposited `USDC` into a staked balance that can back `evUSD`.
After you stake, you can mint `evUSD`.
When you later redeem `evUSD`, the related `USDC` becomes unstaked. This can take up to 24 hours, but it is usually instant.
#### Why does Everstrike use `evUSD`?
Everstrike uses one collateral asset across the platform.
This keeps the collateral system simpler than portfolio margining and makes it easier to support more deposit assets over time.
The tradeoff is one extra conversion step before trading.
{% stepper %}
{% step %}
### Enter the amount to stake
Make sure you already deposited `USDC`.
Click **Stake** next to `USDC`, then enter the amount.
{% endstep %}
{% step %}
### Confirm the staking transaction
Confirm the transaction in your wallet.
{% endstep %}
{% step %}
### Wait for confirmation
Wait for the staking transaction to be mined.
{% endstep %}
{% step %}
### Check that minting is available
Once staking completes, **Mint** becomes available next to `evUSD`.
{% endstep %}
{% endstepper %}
### Mint `evUSD`
After staking `USDC`, you can mint `evUSD`.
You need `evUSD` to trade on Everstrike.
Click **Mint** next to `evUSD` to start the minting process.
Minting usually completes in 2 to 5 seconds.
After minting, your `evUSD` balance updates.
### Redeem `evUSD`
Use **Redeem** to convert `evUSD` back to `USDC`.
Click **Redeem** next to `evUSD`, enter the amount, then confirm.
Redemptions can take up to 24 hours, but they are usually instant.
After redemption, your `USDC` balance updates.
### Next step
Once you have `evUSD`, you can start trading.
If you have not finished account setup yet, go back to [How to start trading on Everstrike](/trading/how-to-start-trading-on-everstrike).
# EVS
Learn how to earn Everstrike’s native token before its token generation event.
## Introducing EVS
Everstrike is getting a native token: **EVS**.
It has not launched yet. But the thing that decides how much you accrue has been running for a while already — your **XP**. Every point of XP on your account converts to EVS at a fixed rate, so the trading, funding and setup you have already done is what your accrual is built from.
You can see your own figure right now at [app.everstrike.io/app/evs](https://app.everstrike.io/app/evs).
{% hint style="warning" %}
**EVS has not launched.** Everything on this page describes how accrual is calculated today. It is not a token you hold, not a distribution commitment, and not an offer to sell. Figures shown in the app are estimates. See The fine print.
{% endhint %}
### How accrual works
One rule, no tiers to opt into and nothing to claim:
> **1 XP = 5 EVS**
XP is the score behind your trader rank. It is capped at 100 and comes from five things:
| Where XP comes from | Max XP | Max EVS | How you earn it |
| ------------------- | ------: | ------: | --------------------------------------------------------- |
| **Trading** | 30 | 150 | Completed orders — 1, 10, 50, 200 and 1,000 are the steps |
| **Account age** | 20 | 100 | One point per month you have been with us |
| **Funding** | 20 | 100 | Deposits made — 1, 3 and 10 are the steps |
| **Security** | 20 | 100 | Verified email (6), two-factor auth (8), IP pinning (6) |
| **AI strategies** | 10 | 50 | Running strategies — 1 and 3 are the steps |
| **Total** | **100** | **500** | |
Two of these are worth calling out because people miss them:
* **Security is 20 XP — 100 EVS — for about two minutes of work.** Verifying your email, turning on 2FA and enabling IP pinning are the cheapest points on the board, and you should be doing them anyway.
* **Account age accrues on its own.** If you have been here a while, you already have it.
### Ranks
Ranks are milestones on the same XP scale. Reaching one means you have accrued at least this much:
| Level | Rank | XP | EVS |
| ----- | -------- | -: | --: |
| 1 | Newcomer | 0 | 0 |
| 2 | Bronze | 20 | 100 |
| 3 | Silver | 40 | 200 |
| 4 | Gold | 60 | 300 |
| 5 | Platinum | 80 | 400 |
| 6 | Diamond | 95 | 475 |
### Where to see yours
Four places in the app, all reading the same figure:
| Where | What it shows |
| -------------------------------- | ---------------------------------------------------------- |
| **EVS page** (`/app/evs`) | Your accrual, the full breakdown, and the rank ladder |
| **Dashboard** | Trader rank card — level, XP and estimated EVS at a glance |
| **Rewards hub** (`/app/rewards`) | Open tasks, each showing the exact XP and EVS it pays |
| **Account** (`/app/settings`) | Rank, badge collection and where your XP came from |
The rewards hub is the practical one: it lists what you have not done yet and what each item is worth, calculated against your current position rather than a flat figure. If a task says *+21 XP*, that is what it would actually add to your score today.
### What is not decided yet
We would rather leave these blank than publish numbers that change:
| | |
| ---------------------------------- | --------------- |
| **Launch date** | To be announced |
| **Total supply** | To be announced |
| **What EVS will do** | To be announced |
| **How accrued EVS is distributed** | To be announced |
When any of these is settled, this page is where it will appear first.
### The fine print
* **EVS has not launched.** There is no market for it, no way to buy or sell it, and no contract deployed. Nothing on this page is an offer, a solicitation, or financial advice.
* **Accrued balances are estimates.** They are calculated from your current XP using the rate above. They are not tokens held on your behalf and not a commitment to distribute.
* **The $0.50 figure used in the app is indicative.** It exists so the numbers mean something at a glance. It is not a quote, not a valuation, and not a price anything will trade at.
* **The rate and the price may change** before launch, and your XP itself can move — it is derived from live account activity, and account age is the only component that only ever goes up.
* **Availability may be restricted** by jurisdiction. See [Restricted jurisdictions](https://references.everstrike.io/legal/restricted-jurisdictions-and-territories).
### Questions
**Do I need to sign up for anything?**\
No. Accrual is calculated from your existing account activity. There is nothing to opt into and nothing to claim.
**Does trading more get me more?**\
Up to a point. Trading is the largest single component at 30 XP, but it caps at 1,000 completed orders. The score is deliberately spread across five areas so it rewards using the platform properly rather than churning volume.
**I have been here for years. Does that count?**\
Yes — account age is worth up to 20 XP at one point per month, and it is already counted.
**What happens to my accrual if I stop trading?**\
Your completed-order count does not go down, so that component holds. Funding and AI components follow your current deposits and strategies.
**Where do I ask something not covered here?**\
[Contact support](https://references.everstrike.io/account/contact-us), or ask in [Discord](https://discord.gg/RS9bAdBbvH).
# CEX Mode
CEX mode is Everstrike's custodial mode, where Everstrike creates and manages a wallet on your behalf.
Here's how it works:
* Upon account creation, Everstrike generates a new public key for your account. This public key is stored on Everstrike's servers, and is used to derive your CEX mode deposit address.
* Your public key has an associated private key. This private key is derived programatically from an Everstrike-controlled master private key.
* Upon depositing funds to your CEX mode deposit address, Everstrike's off-chain infrastructure checks your deposit transaction, verifying that it is final and within the [limits](/account/limits) associated with Everstrike's CEX mode.
* If the deposit passes the checks, your Everstrike account is automatically credited with the full deposit amount. If not, nothing happens.
* Once you want to withdraw, you simply submit a new withdrawal via Everstrike's [frontend UI](https://app.everstrike.io/app/funds). You can withdraw to a blockchain address (CEX mode), or directly to your own wallet (DEX mode). If you choose the former, Everstrike's off-chain infrastructure automatically checks your withdrawal, verifying that it does not exceed your available balance, and that it is within the [limits](/account/limits) associated with Everstrike's CEX mode.
* If the withdrawal passes the checks, an Everstrike Labs employee manually derives your private key from the Everstrike-controlled master private key, and signs a transaction that can transfer your requested withdrawal amount to the blockchain address chosen by you in your withdrawal request. This happens in a fully offline environment, with strict checks in place. At no time is any private key exposed to the internet.
* Once the transaction has been signed and verified, it is manually transferred to an online environment, and published to the blockchain.
Note:
* The Everstrike-controlled master private key is stored in a highly secure offline environment, and is never exposed to the internet. This, in turn, means that your own private key is also never exposed to the internet. At no point in time can a hacker or malicious program gain access to your private key.
* Any funds that are sent to your CEX mode deposit address remain there until the time at which you withdraw. At no point in time are any of them transferred to a "hot wallet" or a "cold wallet", as seen in other centralized exchange environments.
* Using CEX mode requires trusting Everstrike Labs. You do not control your private key, and with this comes risks. If you are not comfortable with these risks, we recommend that you use Everstrike in [DEX mode](/account/dex-mode-vs.-cex-mode) instead.
# AI
# Strategies
Configure AI trading strategies, controls, models, and evaluation costs.
Strategies are evaluated by AI, produce [events](/ai/events), and can trade on your behalf.
Each active strategy produces one event per evaluation for each selected market. Paused strategies produce no events, place no trades, and consume no AI credits.
{% hint style="warning" %}
Start with one market and a low **Max Trade Quantity**. Review events before increasing exposure or evaluation frequency.
{% endhint %}
### Configuration
| Property | Description |
| -------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------- |
| Nickname | Display name chosen when you create the strategy. |
| Markets | Markets the strategy evaluates. Unselected markets are ignored. Each selected market increases credit use. |
| Max Trade Quantity | Maximum USD value for each order. Start low, then increase it as you validate the strategy. |
| Timeframe | Data horizon used for the strategy's decisions. |
| Evaluation Frequency | How often the strategy evaluates each selected market. More frequent evaluations create more events and cost more. |
| Min. Confidence | Confidence required before the AI submits a `BUY`, `SELL`, or `CLOSE` order. |
| Prompt | Instructions that define the strategy. Prompts support natural language and allow up to 5,000 characters. English usually produces the best results. |
| Status | `ACTIVE` strategies evaluate and may trade. `PAUSED` strategies do neither. |
| Creation Time | Time when you created the strategy. |
| Model | AI model used for evaluations. |
| Temperature | Temperature setting used by the model. |
| Discretion | Whether the strategy uses discretion. |
| Cost Savings Mode | Can reduce token consumption by up to 30%. Disabled by default. Reasoning output is minimal for events created in this mode. |
| Lookback Period | Historical bars considered during evaluation. The default is 5. Higher values increase token consumption. |
| Trigger Strategy | Triggers another strategy rather than trading directly. Use it to chain strategies or build screeners. Disabled by default. |
| Max Slippage | Maximum slippage the strategy accepts. |
### Key controls
#### Prompt
The prompt tells the AI what to evaluate and how to act. It can reference the [supported data](/ai/supported-data).
Make prompts specific about:
* Markets or conditions to evaluate.
* Entry, exit, and position-management rules.
* When the strategy should hold instead of trading.
#### Timeframe
The timeframe sets the data horizon used during each decision. Choose a timeframe that matches your trading horizon.
#### Min. Confidence
The default is 90%. A lower threshold can create more trades, but may increase incorrect decisions.
### Timeframes
Strategies can utilize the following timeframes:
| Timeframe | Description |
| --------- | ----------- |
| 1m | 1 minute |
| 3m | 3 minutes |
| 5m | 5 minutes |
| 15m | 15 minutes |
| 30m | 30 minutes |
| 1h | 1 hour |
| 2h | 2 hours |
| 4h | 4 hours |
| 6h | 6 hours |
| 24h | 1 day |
### Min. Confidence
Common confidence settings:
| Min. Confidence | Description |
| --------------- | --------------------------------------------------------------------------- |
| 95% | Very conservative. Use when decisions need very high certainty. |
| 90% | Default. Suitable for most strategies. |
| 85% | Aggressive. May trade more often and make more incorrect decisions. |
| 80% | Very aggressive. Use only when frequent trades justify a higher error rate. |
### Models
Strategies can utilize the following models:
| Model | Typical speed | Cost per event | Description |
| ---------------------------- | ------------- | -------------- | ---------------------------------------- |
| GPT-4o-mini | 1s | $0.000125 | Oldest model. |
| GPT-4.1 | 1.5s | $0.0015 | Fast, expensive, and powerful. |
| GPT-4.1-mini | 1s | $0.00015 | Default model. Best for most strategies. |
| GPT-4.1-nano | 0.5s | $0.000075 | Very fast and inexpensive. |
| GPT-5-mini-minimal-reasoning | 3s | $0.0002 | Balanced. |
| GPT-5-nano-minimal-reasoning | 3s | $0.00005 | Inexpensive. |
| GPT-5-mini-low-reasoning | 5s | $0.0004 | Moderately powerful. |
| GPT-5-nano-low-reasoning | 5s | $0.0001 | Inexpensive and moderately powerful. |
| GPT-5-mini-medium-reasoning | 10s | $0.0008 | Powerful. |
| GPT-5-nano-medium-reasoning | 10s | $0.0002 | Inexpensive and moderately powerful. |
| GPT-5-mini-high-reasoning | 20s | $0.002 | Very powerful and expensive. |
| GPT-5-nano-high-reasoning | 20s | $0.0004 | Powerful. |
### Strategy Costs
Strategies consume credits for every [event](/ai/events) they generate. The estimates below use GPT-4.1-mini and apply to each market.
| Evaluation frequency | Events per market per day | Estimated credits per market per hour |
| -------------------- | ------------------------: | ------------------------------------: |
| 1s | 86,400 | $0.54 |
| 5s | 17,280 | $0.108 |
| 15s | 5,760 | $0.036 |
| 30s | 2,880 | $0.018 |
| 1m | 1,440 | $0.009 |
| 3m | 480 | $0.003 |
| 5m | 288 | $0.0018 |
| 15m | 96 | $0.0006 |
| 30m | 48 | $0.0003 |
| 1h | 24 | $0.00015 |
# Events
Inspect AI strategy decisions, event details, and evaluation costs.
Active [strategies](/ai/strategies) produce events. Events record each AI evaluation and help you review decisions, refine prompts, and track credit use.
Each active strategy produces one event per evaluation for each selected market. Paused strategies produce no events, place no trades, and consume no AI credits.
{% hint style="info" %}
Use events to validate a new strategy before increasing its trade quantity or evaluation frequency.
{% endhint %}
### Review an event
1. Check **Action**, **Amount**, and **Order Submitted** to confirm the outcome.
2. Compare **Confidence** and **Reasoning** with the strategy's prompt.
3. Review **Credits Used** and token counts when managing costs.
### Event properties
| Property | Description |
| ----------------- | ----------------------------------------------------------------------------------- |
| Creation Time | Time when the event was first recorded. |
| Pair | Market evaluated by the strategy. |
| Action | AI decision: `BUY`, `SELL`, `HOLD`, or `CLOSE`. |
| Amount | USD value of orders submitted for the event. |
| Price | Market mark price at creation time. |
| Confidence | AI confidence in the decision, from 0% to 100%. |
| Reasoning | Reasoning that led to the selected action. |
| Strategy | Strategy that generated the event. |
| Order Submitted | Whether the event submitted an order. |
| Forced Evaluation | Whether the event came from a forced evaluation. |
| Model | AI model used for the event. |
| Prompt Tokens | Tokens consumed by the prompt. |
| Completion Tokens | Tokens consumed by the model response. |
| Discretion | Whether the AI used discretion. |
| Cost Savings Mode | Whether the event used Cost Savings Mode. Reasoning output is minimal in this mode. |
| Thinking Time | Time the AI took to reach its decision. |
| Credits Used | AI credits consumed by the event. |
### Event frequency and credits
Evaluation frequency determines how quickly events accumulate. Every event consumes AI credits, which are automatically deducted from your USD balance.
Pause a strategy to stop event generation, trading, and credit use. You can resume a paused strategy at any time.
#### GPT-4.1-mini estimates
These estimates apply to each selected market.
| Evaluation frequency | Events per market per day | Estimated credits per market per hour |
| -------------------- | ------------------------: | ------------------------------------: |
| 1s | 86,400 | $0.54 |
| 5s | 17,280 | $0.108 |
| 15s | 5,760 | $0.036 |
| 30s | 2,880 | $0.018 |
| 1m | 1,440 | $0.009 |
| 3m | 480 | $0.003 |
| 5m | 288 | $0.0018 |
| 15m | 96 | $0.0006 |
| 30m | 48 | $0.0003 |
| 1h | 24 | $0.00015 |
### Event Costs
Costs vary by the model used for the event.
| Model | Cost per event |
| ---------------------------- | -------------: |
| GPT-4o-mini | $0.000125 |
| GPT-4.1 | $0.0015 |
| GPT-4.1-mini | $0.00015 |
| GPT-4.1-nano | $0.000075 |
| GPT-5-mini-minimal-reasoning | $0.0002 |
| GPT-5-nano-minimal-reasoning | $0.00005 |
| GPT-5-mini-low-reasoning | $0.0004 |
| GPT-5-nano-low-reasoning | $0.0001 |
| GPT-5-mini-medium-reasoning | $0.0008 |
| GPT-5-nano-medium-reasoning | $0.0002 |
| GPT-5-mini-high-reasoning | $0.002 |
| GPT-5-nano-high-reasoning | $0.0004 |
# Supported Data
Data, indicators, and account context available to AI strategy prompts.
Use this data in [strategy prompts](/ai/strategies). Availability limits the information the AI can use for decisions.
### Available market data
* Real-time price data, including OHLCV.
* L1 order book data.
* Order flow data, including buys and sells.
* Temporal data, including time, date, and weekday.
* Statistical data and technical indicators.
### Unavailable data
The AI cannot access:
* News data.
* Fundamental data.
* On-chain cryptocurrency data.
{% hint style="warning" %}
Do not rely on unavailable data in a prompt. The AI cannot evaluate it.
{% endhint %}
### Account context
The AI receives the following account context by default:
* Open positions.
* Open orders.
* Past trades.
* Account equity.
* Available cash.
You can also provide:
* Liquidation prices.
* Stop losses and take profits.
* Active strategies.
* Previously submitted strategies.
Account context is anonymized before the AI receives it.
### Technical indicators
The AI supports these technical indicators:
* MACD, RSI, ADX, Bollinger Bands, and CCI.
* Ichimoku Cloud, Keltner Channels, ADL, ATR, and Force Index.
* KST, MFI, OBV, PSAR, and Rate of Change.
* Stochastic Oscillator, Stochastic RSI, TRIX, VWAP, and William's R.
* SMA, EMA, and WMA with periods of 9, 20, and 50.
The AI uses the same indicator inputs as TradingView and the Everstrike UI.
{% hint style="info" %}
The AI receives the five most recent values for each indicator. Historical indicator insights can provide up to 100 values per indicator. This option increases credit consumption significantly and is disabled by default.
{% endhint %}
### Statistical data
The following values are available:
* Open, high, low, and close.
* Open interest, daily volume, and daily change.
* Spread, funding rate, index price, and mark price.
### Options and position data
**Options data**
* Underlying price.
* Historical volatility.
* Black-Scholes price.
**Position data**
* Market.
* Size.
* Profit.
* Entry price.
### Data limits
* The AI uses UTC as its default timezone.
* Order flow includes the 50 most recent trades for each market.
# Credits
Free credit grants, replenishment, usage, and funding for AI strategies.
Credits pay for [strategy](/ai/strategies) evaluations on Everstrike. Each event consumes credits.
### Free credits
You receive free credits when you sign up and complete these tasks:
| Task | Credit grant |
| ----------------------- | -----------: |
| Sign up | $0.50 |
| Verify your email | $0.25 |
| Make your first deposit | $0.25 |
These grants provide enough credits to run a strategy for 24 hours.
#### Daily replenishment
After you verify your email, your free credit balance replenishes daily at **4:00 PM UTC**. The current replenishment amount is **$0.50**.
### Add credits
You can top up your credit balance by [depositing funds](/account/how-to-deposit-withdraw-and-stake-on-everstrike) into your Everstrike account.
When your account holds at least **$5**, or the stablecoin equivalent, Everstrike uses your USD balance for strategy expenses. Your dedicated credit balance then no longer applies.
{% hint style="info" %}
Testnet funds cannot pay strategy expenses. Request $10 in additional testnet credits through [this form](https://docs.google.com/forms/d/e/1FAIpQLScnHGRHSZt7Dh30svtpsmuVziovshbchD08nJe8G45_eYLEvQ/viewform).
{% endhint %}
### Check usage
View a strategy's expected credit use in the [Strategies Overview](https://app.everstrike.io/app/strategies). The **Preview** tab also shows expected consumption before you submit a new strategy.
Compare models and evaluation frequencies in [strategy costs](/ai/strategies#strategy-costs).
### Stop credit consumption
Pause a strategy at any time to stop credit consumption. Paused strategies do not generate events or place trades.
### Insufficient credit
If your balance falls below **$0.01**, the Everstrike UI shows an **Insufficient Credit** warning. This means active strategies cannot continue running.
Add credits to clear the warning. Active strategies resume automatically after your balance is sufficient.
# Models
Available AI models, estimated evaluation speed, and credit cost for strategies.
Choose a model for each AI strategy. Model choice affects evaluation speed and credit cost.
### Available models
| Model | Typical speed | Cost per evaluation | Description |
| ---------------------------- | ------------: | ------------------: | ---------------------------------------- |
| GPT-4o-mini | 1s | $0.000125 | Oldest model. |
| GPT-4.1 | 1.5s | $0.0015 | Fast, expensive, and powerful. |
| GPT-4.1-mini | 1s | $0.00015 | Default model. Best for most strategies. |
| GPT-4.1-nano | 0.5s | $0.000075 | Very fast and inexpensive. |
| GPT-5-mini-minimal-reasoning | 3s | $0.0002 | Balanced. |
| GPT-5-nano-minimal-reasoning | 3s | $0.00005 | Inexpensive. |
| GPT-5-mini-low-reasoning | 5s | $0.0004 | Moderately powerful. |
| GPT-5-nano-low-reasoning | 5s | $0.0001 | Inexpensive and moderately powerful. |
| GPT-5-mini-medium-reasoning | 10s | $0.0008 | Powerful. |
| GPT-5-nano-medium-reasoning | 10s | $0.0002 | Inexpensive and powerful. |
| GPT-5-mini-high-reasoning | 20s | $0.002 | Very powerful and expensive. |
| GPT-5-nano-high-reasoning | 20s | $0.0004 | Powerful and inexpensive. |
### Evaluation frequency limit
Strategies with an evaluation frequency of 15 seconds or less can use only `GPT-4.1-nano`.
### Speed and cost notes
Listed speeds are averages, not guarantees. Evaluation time also depends on the prompt and the data available to the model.
Restricting strategy data can reduce the cost per evaluation by up to 50%. See [Supported Data](/ai/supported-data) to choose available data points.
See [Strategies](/ai/strategies) for model configuration and strategy cost estimates.
# Assistant
Create and modify AI trading strategies through the Everstrike Assistant.
The Everstrike Assistant helps you create and modify [strategies](/ai/strategies).
Explain your trading logic and preferences in plain language. The Assistant prepares a strategy after gathering enough information.
### Create a strategy
1. Describe the markets, conditions, and trading preferences you want.
2. Answer the Assistant's follow-up questions.
3. Review or submit the prepared strategy, based on your selected mode.
Review [supported data](/ai/supported-data) before defining requirements the strategy must use.
### Approval modes
| Mode | Behavior |
| ---------- | ----------------------------------------------------------------------------- |
| Safe Mode | Strategy submissions and modifications always require your explicit approval. |
| Blitz Mode | The Assistant can submit and modify strategies without confirmation. |
Safe Mode is the default. You can switch modes at any time. Changing modes does not affect existing strategies.
{% hint style="warning" %}
Use Safe Mode while validating a new strategy. Blitz Mode can change strategies without confirmation.
{% endhint %}
### Models and reasoning
Supported Assistant models:
* GPT-4o-mini
* GPT-4.1-nano
* GPT-4.1-mini
* GPT-5-nano
* GPT-5-mini
Supported reasoning modes are **minimal**, **low**, **medium**, and **high**.
The default is GPT-5-mini with low reasoning. It provides fast strategy creation and modification. For more capable, slower responses, use GPT-5-mini with high reasoning.
### Limitations
The Assistant:
* Cannot access real-time market data.
* Cannot submit strategies for options markets.
* Has a 15-message context window.
* Cannot access user data, including trades, orders, or open positions.
### Rate limits
| Limit | Allowance |
| -------- | --------------: |
| Messages | 50 per day |
| Tokens | 500,000 per day |
Limits reset daily at **12:00 PM UTC**. Funded accounts receive higher rate limits and larger context windows.
### Pricing
The Assistant is free to use.
# MCP
## Everstrike MCP Server
Connect an AI assistant to live Everstrike market data.
The Everstrike MCP server exposes exchange data as **tools** an AI model can call during a conversation — prices, order books, trades, candles, funding rates and exchange status. Ask your assistant "what's the spread on BTC/USD right now?" and it fetches the answer instead of guessing.
It speaks the [Model Context Protocol](https://modelcontextprotocol.io), so it works with any MCP-capable client: Claude Desktop, Claude Code, Cursor, or your own application built on an MCP SDK.
> **Read-only, and public.** Every tool below reads public market data. There is no tool that places, modifies or cancels an order, and none that reads your account. Connecting this server cannot move your funds.
***
### Quick start
Point your MCP client at the server URL. No API key, no account, no signup.
{% tabs %}
{% tab title="Claude Desktop / Cursor" %}
Add the server to your client's MCP configuration:
```json
{
"mcpServers": {
"everstrike": {
"url": "https://mcp.everstrike.xyz/mcp"
}
}
}
```
Restart the client. You should see ten `everstrike_*` tools become available.
{% endtab %}
{% tab title="curl" %}
The server speaks JSON-RPC over HTTP. List the tools:
```bash
curl -sX POST https://mcp.everstrike.xyz/mcp \
-H 'Content-Type: application/json' \
-H 'Accept: application/json, text/event-stream' \
-d '{"jsonrpc":"2.0","id":1,"method":"tools/list","params":{}}'
```
Call one:
```bash
curl -sX POST https://mcp.everstrike.xyz/mcp \
-H 'Content-Type: application/json' \
-H 'Accept: application/json, text/event-stream' \
-d '{"jsonrpc":"2.0","id":1,"method":"tools/call",
"params":{"name":"everstrike_ticker",
"arguments":{"pairs":["USD_BTC_PERP"]}}}'
```
The `Accept` header must list **both** content types — the transport rejects the request otherwise.
{% endtab %}
{% endtabs %}
***
### Market naming
This is the single most common source of confusion, so it is worth thirty seconds.
**Everstrike keys markets quote-first.** The BTC/USD perpetual is `USD_BTC_PERP` — not `BTC_USD_PERP`.
```
USD_BTC_PERP BTC/USD perpetual
USD_ETH_PERP ETH/USD perpetual
USDT_USD USDT/USD spot ← spot is base-first
```
Spot markets run the other way round. The ordering depends on the instrument, so it cannot be worked out from the key alone.
#### What the server accepts
Friendly spellings of a **pair** are resolved for you against the live market list:
| You send | Resolves to |
| -------------- | -------------------------- |
| `USD_XRP_PERP` | `USD_XRP_PERP` |
| `XRP/USD` | `USD_XRP_PERP` |
| `xrp-usd` | `USD_XRP_PERP` |
| `XRPUSD` | `USD_XRP_PERP` |
| `XRP` | ✗ not resolved — see below |
> **A bare asset name does not resolve.** `XRP` on its own is ambiguous — the server has no way to know you mean the USD perpetual rather than a spot market or an option. Send `USD_XRP_PERP`, or ask for the pair form `XRP/USD`.
If a market cannot be resolved you get suggestions back rather than an error, so a near-miss is usually recoverable in one step. Where a spelling matches more than one instrument — a perpetual and a spot market sharing `BTC/USD` — the server reports the ambiguity instead of picking one.
Options carry their own published symbols (`BTC-120000-C`) and are reachable by those.
Use `everstrike_pairs` for the canonical list.
***
### Tools
#### Prices and markets
**`everstrike_ticker`**
Live prices: last, mark and index, plus 24h change and volume.
| Parameter | Type | Notes |
| --------- | --------- | ------------------------------------------------ |
| `pairs` | string\[] | Up to 6 markets. Omit for a summary — see below. |
**Pass `pairs` when you have specific markets in mind.** You get every field for each one.
**Omit it** and you get a different shape: a compact summary of the 25 most-traded markets ranked by 24h volume, plus `all_market_keys` listing every tradable market. The full ticker is 257 markets of \~50 fields each — far too large to return in one piece — so the summary is a deliberate view, not a truncation.
> If the market you want is missing from the summary, it is **not** unavailable. Take its key from `all_market_keys` and call again with `pairs`.
**`everstrike_pairs`**
Every tradable market with tick size, lot size, leverage caps and contract type. No parameters. This is the canonical reference for market keys.
**`everstrike_assets`**
Supported assets with precision, deposit and withdrawal status, and network information. No parameters.
#### Market depth and activity
**`everstrike_depth`**
Aggregated bid/ask depth for one market.
| Parameter | Type | Notes |
| --------- | ------ | ------------- |
| `pair` | string | **Required.** |
**`everstrike_trades`**
Recent public trades for one market.
| Parameter | Type | Notes |
| --------- | ------ | ------------- |
| `pair` | string | **Required.** |
**`everstrike_ohlcv`**
Candlestick history.
| Parameter | Type | Notes |
| ---------- | ------- | ----------------------------------------------- |
| `pair` | string | **Required.** |
| `interval` | enum | See the interval list below. |
| `start` | integer | Unix **milliseconds**. |
| `end` | integer | Unix **milliseconds**. |
| `price` | enum | `mark` (default), `last`, `index`, `all`. |
| `limit` | integer | Default 60 (15 when `price` is `all`), max 500. |
**Intervals**
```
15s 1m 3m 5m 15m 30m 1h 2h 4h 6h 24h 7d
```
Note `24h` and `7d` — not `1D` or `1W`.
**Price basis.** Each candle carries several price series. `price` selects which one is reported, and the reply uses plain `open` / `high` / `low` / `close` whichever you choose:
| `price` | Reports |
| ------- | -------------------------------------- |
| `mark` | Mark price — **the default** |
| `last` | Last traded price |
| `index` | Index price |
| `all` | The raw candle, every field, unrenamed |
> **Why mark rather than last?** On a market with little or no volume the last traded price can sit unchanged for hours. A candle series built from it is flat, and easy to misread as "nothing is happening". Mark price is continuous, so it reflects where the market actually is. Ask for `last` when you specifically want executed prices.
A projected candle looks like this:
```json
{
"time": 1786370400000,
"open": 0.102308,
"high": 0.102308,
"low": 0.102308,
"close": 0.102308,
"base_volume": 0,
"quote_volume": 0,
"trades": 0
}
```
`price: "all"` returns the raw candle instead — useful when you need fields the projection does not carry, at roughly 3.5× the size per candle. That is why its default `limit` is lower.
> **`start` and `end` are milliseconds.** A seconds-based timestamp asks for candles from 1970 and returns an empty series rather than an error.
**`everstrike_funding`**
Historical funding rates for perpetual markets.
| Parameter | Type | Notes |
| --------- | ------ | -------------------------------- |
| `pair` | string | Optional — omit for all markets. |
#### Exchange
**`everstrike_status`**
Exchange-wide status: uptime, engine health, maintenance windows. No parameters.
**`everstrike_globals`**
Aggregate statistics: open interest, volume, user counts. No parameters.
**`everstrike_vault`**
Perpetual vault state: redemption rate, total earnings, USD supply. No parameters.
***
### Limits
| | |
| ---------------------- | -------------------------------- |
| Requests | 10/second per IP, bursting to 20 |
| Concurrent connections | 16 per IP |
| Response size | 60,000 characters |
A response that exceeds the size limit is truncated with a note saying so and suggesting a narrower request. **Truncation removes data from the end**, so if you see that note, do not assume what you were looking for is in what remains — narrow the request and call again.
***
### Protocol details
For anyone building a client directly rather than using an SDK.
| | |
| ---------------- | ----------------------------------- |
| Transport | Streamable HTTP |
| Protocol version | `2025-06-18` |
| Session | Stateless — no session id is issued |
| Response format | JSON (not SSE) |
| Authentication | None |
Because the server is stateless, **a bare request works** — no `initialize` handshake is required before `tools/list` or `tools/call`. Sending one is harmless, but it must be its own request: the transport rejects a JSON-RPC batch containing an `initialize` alongside other messages.
Every request needs `Accept: application/json, text/event-stream`. Listing only one of the two is rejected with a 406.
***
### What is not here
The server exposes **public market data only**. Tools for account balances, positions, open orders and order placement exist in the codebase but are not registered on this deployment, so they cannot be called however the request is formed.
***
# Privacy
How Everstrike handles data processed by AI strategies and the Assistant.
Everstrike AI does not store completions or strategy data. User data is fully anonymized before it is included in an AI query.
### AI query handling
When Everstrike processes an AI query:
* Strategy data is not stored.
* AI completions are not stored.
* User data is anonymized before inclusion in the query.
This applies to data processed by Everstrike AI, including AI strategies and the Assistant.
### Broader privacy practices
This page covers AI-specific data handling. The [Privacy Policy](/legal/privacy-policy) covers personal data collected through Everstrike services, your privacy choices, and data-sharing practices.
# Roadmap
AI mode features and improvements currently being implemented or rolled out.
These AI mode features and improvements are currently being implemented or rolled out. Availability may vary during rollout.
### Data and context
* More model input data, including TradFi data, onchain data and news data.
* More model context, including order history, trade history and strategy history.
### Strategy controls and models
* More user controls, including custom order flags, event-based triggers, temperature, and creativity settings.
* Additional models: Claude, DeepSeek, Gemini, Mistral, and Everstrike.
* Model ensembles that combine several models in one strategy.
* Learning mode that adapts strategies using live performance.
### Tools and integrations
* An improved Assistant with backtesting support and a larger context window.
* Everstrike CLI, a command-line tool for vibetrading.
### Market discovery
* A market screener that scans hundreds of markets for real-time AI trading opportunities.
### Stay informed
Follow Everstrike on [X](https://x.com/evestrike_dex) and [Telegram](https://t.me/evestrike_dex) for rollout updates and feature announcements.
Explore current capabilities in [Strategies](/ai/strategies), [Supported Data](/ai/supported-data), and [MCP](/ai/mcp).
# FAQ
Answers to common questions about AI strategy configuration, costs, and limitations.
### Setup and risk
#### Which confidence threshold should I use?
Start at **90%** minimum confidence. Lower thresholds, such as 85% or 80%, can create more trades but may increase incorrect decisions.
See [Strategies](/ai/strategies#min-confidence) for common confidence settings.
#### Which order quantity should I use?
Start with a low order quantity, such as **$10**, or test the strategy on Everstrike Testnet. Validate events before increasing the quantity.
#### Which timeframe should I use?
Choose a timeframe that matches your trading horizon. Lower timeframes usually produce more frequent trades and shorter holding periods.
#### How can I manage risk with strategies?
Add a maximum position size to your prompt. The AI respects position limits that you provide.
For example:
> Buy the dip on BTC. Maximum position size: $3,000.
Also start with a low order quantity while you validate the strategy.
#### Can the AI close my position?
Yes. Describe the conditions for closing the position in your prompt.
For example:
> Buy the dip on BTC. Close the position when the dip is over.
You can also ask the AI to maintain a target position size.
### Strategy limits and behavior
#### How many strategies can I run simultaneously?
You can run up to **10 strategies** simultaneously.
#### How many markets can my strategies watch?
Each strategy can select up to **10 markets**. With 10 active strategies, AI can watch up to **100 markets**.
#### Does the strategy nickname affect trading?
No. The nickname is for display and for associating events with strategies.
#### When does a strategy start producing events?
Every model and evaluation frequency produces an event within 20 seconds of strategy creation. The event can lead to a trade if confidence exceeds your minimum threshold.
Track events in the frontend or through the API.
#### Why has my strategy stopped producing events?
If an active strategy misses its evaluation frequency, its model may not process the prompt quickly enough. Choose a more powerful model or simplify the prompt.
#### Can the AI maintain a grid of limit orders?
Yes. The AI can maintain up to **10 limit orders** per strategy, including for grid trading.
### Prompts and AI limits
#### What data can I reference in a prompt?
See [Supported Data](/ai/supported-data). The AI cannot access data outside that list and cannot perform visual chart analysis.
#### Which languages can I use in a prompt?
Use any commonly used natural language, including English, Spanish, and Norwegian. English usually produces the best results.
#### Can I receive reasoning in my native language?
Yes. Specify your preferred language in the prompt. The default reasoning language is English.
#### How can I minimize AI errors?
Use a minimum confidence of at least 90%, set temperature to 0, and disable discretion.
With these settings, the hallucination rate is significantly below 0.1%.
### Costs and credits
#### How much does a strategy cost?
The default GPT-4.1-mini model costs **$0.00015 per event**.
At a one-second evaluation frequency, one market creates 3,600 events per hour. That costs **$0.54 per hour**. Costs scale with every selected market.
See [strategy costs](/ai/strategies#strategy-costs) for model and frequency comparisons.
#### Do paused strategies consume credits?
No. Paused strategies do not generate events, trade, or consume credits.
#### How can I add more AI credits?
Fund your account with at least **$5**, or the equivalent in USDC or USDT. Strategy expenses are then deducted from your USD balance.
See [Credits](/ai/credits) for grants, replenishment, and funding details.
### Frequency
#### Is the AI suitable for high-frequency trading?
No. The fastest evaluation frequency is one second. This supports low- and mid-frequency strategies, not high-frequency trading.
Future releases may add shorter frequencies, such as 100 ms and 10 ms.
# Technical Architecture
# Technical Architecture
How Everstrike combines off-chain trading with on-chain custody and withdrawals.
Everstrike uses a hybrid exchange architecture. It combines off-chain order matching with on-chain custody and settlement.
This design keeps order processing responsive. It also keeps user funds in Everstrike smart contracts.
### Architecture at a glance
Everstrike has three connected components:
* **On-chain custody and settlement** holds user funds in smart contracts. Funds are categorized by their available use.
* **Off-chain matching and risk** validates orders, applies margin checks, and matches orders through an internal order book.
* **Off-chain state channels** track balances and positions between you and the operator. They support recovery without operator cooperation.
### Order flow
1. Submit an order through the Everstrike API.
2. The risk engine validates the order and margin requirements.
3. The matching engine applies price-time priority.
4. A match updates the relevant balances and positions.
5. You receive an updated state receipt after the change.
Orders that do not match immediately remain in the order book until matched or cancelled.
### Custody and recovery
Your funds remain on-chain while you trade. Open orders and positions use locked funds as margin.
The state channel maintains a rolling record of your balances and positions. Either party can revoke it. Your latest signed state receipt enables a **Trustless Withdrawal** if the operator does not cooperate.
{% hint style="info" %}
Trustless Withdrawal is an emergency path. It has a 24-hour challenge period and fees.
{% endhint %}
### Explore the components
* [On-Chain Settlement/Custody](/technical-architecture/on-chain-settlement-custody) explains fund categories and gas fees.
* [Off-Chain Matching](/technical-architecture/off-chain-matching) explains risk checks and matching priority.
* [Off-Chain State Channel](/technical-architecture/off-chain-state-channel) explains the balance and position record.
* [Trustless Withdrawal](/technical-architecture/trustless-withdrawal) explains the emergency withdrawal process.
# On-Chain Settlement/Custody
How Everstrike custody works, how funds are categorized, and who pays gas.
User funds remain on-chain in Everstrike smart contracts. The contracts categorize funds by their available use.
### Fund categories
| Category | Available use |
| --------------- | -------------------------------------------------------------------- |
| Free funds | Trading and redemptions. |
| Locked funds | Margin for open positions and orders. |
| Staked funds | Minting [evUSD](/account/evusd), Everstrike's internal stablecoin. |
| Deposited funds | Withdrawals and staking. Deposited funds cannot mint evUSD directly. |
### Fund lifecycle
Deposited funds can be withdrawn or staked. Staked funds can mint evUSD. Open orders and positions use locked funds as margin.
See [How to deposit, withdraw, and stake on Everstrike](/account/how-to-deposit-withdraw-and-stake-on-everstrike) for the operational flows.
### Gas fees
| Operation | Gas payer |
| ---------------- | ---------- |
| Deposit | You |
| Stake | You |
| Withdraw | You |
| Mint | Everstrike |
| Redeem (unstake) | Everstrike |
{% hint style="info" %}
You need gas funds in your wallet for deposits, staking, and withdrawals.
{% endhint %}
# Off-Chain Matching
How Everstrike validates orders, applies margin checks, and prioritizes matches.
Everstrike runs matching and risk engines off-chain. Clients connect through the Everstrike API.
### Order lifecycle
1. Submit an order through the Everstrike API.
2. The risk engine verifies that the order is well formed.
3. The risk engine verifies that your account meets margin requirements.
4. Valid orders enter the internal order book.
5. Immediately matching orders execute as trades.
Orders without an immediate match remain in memory until a match occurs.
### Matching priority
Everstrike uses first in, first out (FIFO) price-time priority.
Price determines the first level of priority. At the same price, earlier orders have priority over later orders. The oldest order at a price level executes first.
### API deployment locations
The Everstrike API runs in these Google Cloud Platform regions:
| Environment | Region |
| ----------- | ------- |
| Mainnet | Belgium |
{% hint style="info" %}
Market makers should place latency-sensitive infrastructure in the matching environment's region.
{% endhint %}
For the complete system model, see [Technical Architecture](/technical-architecture/technical-architecture).
# Off-Chain State Channel
How state receipts track balances and positions and enable Trustless Withdrawal.
Each Everstrike user maintains a perpetual state channel with the operator. It tracks the user’s balances and positions off-chain.
The state channel can be revoked by either party at any time. It enables Trustless Withdrawal if the operator does not cooperate.
### State receipts
A state receipt is a signed record of the current state channel. It records:
* The receipt nonce.
* Your balance and positions.
* Your signature and the operator’s signature.
You receive a new receipt when an operation changes your balances or positions. This includes orders, trades, funding, deposits, and withdrawals.
### Why the nonce matters
Receipts form a rolling record of your account state. The nonce identifies their order.
For Trustless Withdrawal, use the receipt with the highest nonce. A newer valid receipt invalidates an older withdrawal request.
### Recovery without operator cooperation
Trustless Withdrawal uses your latest state receipt to prove your agreed balance and positions. It is permissionless and censorship-resistant.
{% hint style="warning" %}
Trustless Withdrawal is an emergency option. It has a 24-hour challenge period and significant fees.
{% endhint %}
See [Trustless Withdrawal](/technical-architecture/trustless-withdrawal) for the complete process, fees, and safety checks.
For the complete system model, see [Technical Architecture](/technical-architecture/technical-architecture).
# Trustless Withdrawal
Use a state receipt to withdraw without operator cooperation.
Trustless Withdrawal lets you withdraw without operator cooperation. It is permissionless and censorship-resistant.
It is an emergency escape hatch. Use it if the operator censors a withdrawal or acts maliciously.
{% hint style="warning" %}
Trustless Withdrawal has a 24-hour challenge period and significant fees. Do not use it for routine withdrawals.
{% endhint %}
### How it works
Trustless Withdrawal uses an innocent-until-proven-guilty model:
1. Submit your latest state receipt and withdrawal amount to `Everstrike.sol`.
2. The operator has 24 hours to challenge the request.
3. A newer receipt, with a higher nonce, invalidates the request.
4. Without a valid challenge, `Everstrike.sol` completes the withdrawal.
An invalid request forfeits the Dishonesty Fee. A successful request returns it.
### State receipts
A state receipt is a rolling agreement between you and the operator. It records your current balance and positions.
Each receipt contains:
* Nonce.
* User signature.
* Operator signature.
* User balance.
* User positions.
You receive a new receipt after an operation changes your balance or positions. This includes:
* Submitting or cancelling an order.
* Trades and funding transactions.
* Deposits and withdrawals.
Use the receipt with the highest nonce. Older receipts are invalid for Trustless Withdrawal.
### Before you submit
Complete these checks before initiating a withdrawal:
* Stop trading until the operator approves the request or 24 hours pass.
* Disable Cross Margin. Use Isolated Margin if you have open positions.
* Confirm that you hold your latest state receipt.
Trading after you submit lets the operator invalidate the withdrawal and claim the Dishonesty Fee.
### Fees
| Fee | Amount | Outcome |
| -------------- | -------------------------------------------------------------- | ------------------------------------------------------------------------------------------ |
| Dishonesty Fee | 10% of the withdrawal amount, or 100 USDT, whichever is higher | Returned after a successful withdrawal. Claimed by the operator if the request is invalid. |
| Withdrawal Fee | 20 USDT | Non-refundable. |
The fees make Trustless Withdrawal unsuitable for small amounts. Use it only for amounts above 100 USDT when necessary.
### Receipt lifecycle
Before the operator accepts a new order, you sign its presented state receipt. The operator then signs the receipt and sends you a copy.
The signed receipt is stored:
* On your device.
* With the operator.
* In `Everstrike.sol`.
If you lose a receipt, request it from the operator. If the operator refuses, retrieve it from `Everstrike.sol` directly.
### FAQ
#### Why does Trustless Withdrawal work?
The latest receipt proves your agreed balance and positions. The Dishonesty Fee discourages claims above that balance.
#### Can the operator create a receipt for me?
No. The operator cannot access your private key. It uses your public key to verify your signature.
#### Can someone else start a withdrawal for me?
No. Initiation requires your private key.
#### Do I need to sign every order?
You can grant the operator access to a session key. A session key is short-lived and revocable. You can limit its permissions and duration.
This improves the order flow, but slightly reduces security. Revoke the session key immediately if you suspect malicious behavior.
#### What if the operator does not issue a receipt?
Stop trading immediately. Start a Trustless Withdrawal using your latest receipt as soon as possible.
#### Can Trustless Withdrawal support other operations?
Yes. Everstrike V2 will include Trustless Unstaking, also called redemption. The same model can support operations requiring operator cooperation.
# Legal
# Terms of Service
**Everstrike Terms of Service**
The Everstrike Cryptocurrency Exchange ("Everstrike" or the "Exchange") is a platform owned and operated by Everstrike Labs ("Everstrike", "us" or "we").
The Exchange is available at the website (the “Site”).
A testnet version of the Exchange is available at the website (the “Testnet Site”).
A Digital Asset is a collective term for any digital asset, cryptocurrency, virtual currency or token that is available for transaction by using the Exchange.
This document outlines a number of terms ("Terms"). These Terms constitute an agreement between you as a user of the Exchange (“User”, “you” or “your”) and Everstrike. The Terms apply to your usage of the Exchange and the services offered by the Exchange (collectively referred to as the “Services”). This includes the usage of any services offered through the Exchange, the Site and the Testnet Site, including the ability to buy, sell, swap, maintain and exchange Digital Assets. It also includes the ability to interact with the Everstrike Application Programming Interfaces (collectively referred to as the "API").
By signing up for a Everstrike account (“Account”) or using the Services you acknowledge and agree that you have read, understood and accepted these Terms as well as the Everstrike Privacy Policy and you agree and acknowledge that you will be bound by such policies and terms.
These Terms are provided to you in English. Everstrike will communicate with you in English for everything that is related to your usage of the Services. Everstrike may, at its sole discretion, choose to provide support for languages other than English.
These Terms will have a number of headings. These headings are for reference purposes only.
The headings shall in no way define, construe, limit or portray the scope or extent of their respective sections.
These Terms are not intended and shall not be construed to create any rights or remedies in any parties other than you, Everstrike and other affiliates of Everstrike. Section 32 defines a number of Restricted Territories.
The Services are not offered to persons or entities who have their registered place of residence or office in the United States of America, Canada, Bosnia and Herzegovina, Romania, the Republic of the Seychelles, or any of the Restricted Territories that are defined in Section 32.
It is your responsibility to ensure that you have reviewed the Everstrike Fee Schedule before engaging with the Services. Section 36 of these Terms dictates how the Terms may be changed over time.
If something is still not clear to you after you have read these Terms, or you have questions, please do not hesitate to contact us.
**Section 1 - Applicable Laws and Regulations**
Your usage of the Exchange and the Services is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority, including, but not limited to, all applicable tax, anti-money laundering (“AML”) and counter-terrorist financing (“CTF”) provisions.
If your country of residence is based within the European Economic Area (“EEA”), your representative within the EEA for the purposes of the General Data Protection Regulation (EU) 2016/679 (“GDPR”) is Everstrike. If your Country of Residence is outside of the EEA, provisions related to the GDPR shall not apply to your use of the Services.
You unequivocally acknowledge, agree and understand that by creating an Account and using the Services in any extent or capacity, you shall act in compliance with and be legally bound by these Terms as well as all applicable laws and regulations (including but not limited to those stated in this Section 1, where applicable), and that failure to do so may result in the suspension of your ability to use the Services or termination of your Account.
To continue to use your Account, and to continue to receive any trading fee rebates and discounts, you must act in compliance at all times with these Terms and all applicable regulations and laws.
**Section 2- Eligibility**
You represent and warrant that you: (a) are of legal age to form a binding contract; (b) have not previously been suspended or removed from using our Services; and (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party. If you are registering to use the Services on behalf of a legal entity, you further represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and (ii) you are duly authorized by such legal entity to act on its behalf.
By using or accessing the Services, you further represent and warrant that you are not a Restricted Person nor are you a resident of a Restricted Territory (each as defined in Section 32) and you will not be using the Services for any illegal activity including, but not limited to, those Restricted Activities listed under Section 33. Notwithstanding the foregoing, Everstrike may, either in its sole discretion or due to regulatory or legal requirements, elect not to make the Services, or any part of the Services, available in every market, depending on your location.
**Section 3 - Compliance with AML and CTF**
Our AML and CTF procedures are guided by all applicable rules and regulations regarding AML and CTF.
These standards are designed to prevent the use of Exchange for money laundering or terrorist financing activities. We take compliance extremely seriously at Everstrike and it is our company policy to take all the necessary steps to prohibit fraudulent transactions, report suspicious activities, and engage actively in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes.
**Section 4 - Signing up for Everstrike**
When you sign up for an account on Everstrike, you are required to provide complete, accurate and up-to-date information for all of the elements that are presented to you on the sign up page.
You are not allowed to share your Account credentials with any other person. You are the only person authorized to use your Account. When signing up for an account, you also agree to provide us with additional information (the “Information”) that we may request (both at sign up and on an ongoing basis) for the purpose of detecting money laundering, fraud, terrorist financing or any other financial crime. The Information may include, but is not limited to, a copy of your government-issued ID, and a utility bill or other proof of residence. When signing up for an account, you grant us permission to keep a record of the Information and authorize us to make any inquiries, either directly or through third parties, that we deem necessary to protect you and/or us against fraud or financial crimes. You also grant us permission to take any action that we deem necessary based on the result of such inquiries. When we carry out these inquiries you acknowledge and agree that the Information may be disclosed to fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.
Under certain circumstances we may require you to complete other verification steps. These steps may include the submission of additional information about yourself, your transactions, and/or your business.You represent and warrant that any information provided by you to us pursuant to these Terms or otherwise is true, accurate and not misleading in any respect. If any of such information changes, it is your responsibility and obligation to update such information as quickly as possible. If you fail to provide such information in a timely manner we may temporarily suspend your Account and your ability to use the Services. The suspension will be lifted once you provide such information. Continuously failing to provide such information, despite multiple warnings, may ultimately result in the termination of your Account.
For compliance and regulatory reasons, we reserve the right to maintain the information submitted by you on Account registration, after the closure of your Account, subject to applicable law and data regulations.
**Section 5 - Digital Asset Transactions**
In order to begin trading, you must first fund your Account. Your account can only be funded with Digital Assets.
Everstrike supports deposits and withdrawals for a variety of different Digital Assets (each a "Digital Asset").
After signing up for your account, Everstrike provides you with a deposit address for each supported Digital Asset.
You may deposit a particular Digital Asset that (i) you already own, and (ii) is supported by Everstrike, by sending your Digital Asset to the deposit address that was provided to you by Everstrike for that particular Digital Asset.
Everstrike does not support the deposit of fiat currencies.
Everstrike makes it possible for you to convert from one Digital Asset to another Digital Asset.
Upon requesting to do so, you will receive a price quotation (the “Quote”) for such conversion.
The Quote that you receive depends on market conditions. You are under no obligation to execute any trade at any Quote that you receive.
Everstrike does not promise anything with regards to the timing or availability of the ability to convert Digital Assets through the Exchange. It is your responsibility to ensure that you send all Digital Assets to the correct address provided to you for that particular Digital Asset.
In the event that you send a Digital Asset to an address that does not correspond to your deposit address for that exact Digital Asset (such as an address that is not associated with your account or an address that is not associated with that exact Digital Asset), such Digital Asset may be lost forever.
In the event that you send a Digital Asset from your Account to an external address that does not correspond to that exact Digital Asset, such Digital Asset may be lost forever.
You assume all liability for any losses incurred as a result of sending Digital Assets to an incorrect address (such as an address that is not associated with your account or an address that is not associated with the specific Digital Asset).
Everstrike is not responsible for any losses or for taking any actions to attempt to recover such Digital Assets. If the funds are recoverable, we may in our sole discretion attempt to recover the funds, but such recovery efforts are in no way guaranteed.
Please note that Everstrike does not support the deposit of funds directly from a smart contract. Funds that are sent directly from smart contracts will need to be credited manually and you will need to contact us.
Everstrike makes no representations or warranties regarding the amount of time that may be required to complete transfer of your Digital Assets from a third party wallet or other source and have said Digital Assets credited to your Account balance.
When you choose to transfer a Digital Asset from your Account to a third party wallet or other location, it is always possible that the party administering the new location may reject your transfer or that the transfer may fail due to technical or other issues affecting the Exchange. You agree that you shall not hold Everstrike liable for any damages arising from a rejected transfer.
Should Everstrike suspect that a User’s transaction involves, or is related to, money laundering, fraud or any other crime, or that it is related to a prohibited use, as stated in these Terms, Everstrike may, in its sole discretion, suspend the User from using his or her deposit address.
In the event that you request a withdrawal of a Digital Asset and Everstrike cannot comply with it without closing part of your open positions, Everstrike will not process such request until you have closed a part of your open positions that is sufficiently large to allow us to process such request.
Everstrike may, in its sole discretion, elect to discontinue its support for any Digital Asset or Digital Asset Index that is currently listed on the Exchange.
**Section 6 - Digital Asset Trading**
A transaction on Everstrike is permitted to fail for a multitude of reasons, including but not limited to insufficient margin, unexpected technical problems or changes in price. Everstrike makes no representations or warranties that every transaction will be executed without fail. Everstrike shall in no case and under no circumstances be held liable for any injury or loss that may result from a transaction failing or not completing in a timely manner. You will be capable of checking information about any transaction failures through the Exchange website (the Testnet Site if you initialized the transaction from there, otherwise the Site). It is your responsibility to use this information to establish the reason for any failed transactions you may be subjected to. You may acquire assistance in doing so by contacting us. It is not the responsibility of Everstrike to notify you about transaction failure.
Everstrike reserves the right to cancel, refuse to execute or reverse any trade or transaction, or impose certain trading restrictions, including, but not limited to, price ranges, price limits, trade size ranges and trade size limits, at any time without giving prior notice and in its sole discretion.
You may not change, cancel or withdraw your authorization to make a transaction except with respect to partially filled orders.
Everstrike reserves the right to correct, cancel or reverse any trade that has been impacted by an error in the processing of any of the User’s transactions, or otherwise. The remedy of the User for such error will be limited to a refund of any amounts that have been charged to the User and the User’s ability to cancel an order. Everstrike cannot guarantee that such refunds and cancellations will always be possible.
You agree and acknowledge our calculations and decisions associated with operating the Exchange, in particular, but not limited to, the calculation of P/L of open positions in the Derivatives Contracts, the calculation of Collateral, the calculation of Average Entry Price, the calculation of Collateral Requirement, Position Liquidation, Position Swap and the calculation of Position Deleverage. All of our calculations presented on the Exchange are binding and final.
You agree and acknowledge our right to change the methodologies by which we calculate P\&L of open positions in the Derivatives, Collateral, Average Entry Price, Collateral Requirements, Position Liquidation, Position Swap, Position Deleverage and all other rules and processes associated with operating the Exchange. Upon changing these methodologies, we will make a revised description of the methodologies, including but not limited to any applicable changes in calculation methods, available in the Everstrike Knowledge Base. You acknowledge that it is your responsibility to consult this Knowledge Base on an ongoing basis and that you have the ability to access and review such methodologies in the Knowledge Base at any time and that you agree to do so. It is not the responsibility of Everstrike to notify you about changes in such methodologies.
**Section 7 - Digital Asset Derivatives**
The Derivatives Contracts listed by Everstrike includes a variable number of contracts for each Digital Asset, or Digital Asset Index (each a “Derivatives Contract").
These Derivatives Contracts are perpetual Derivatives Contracts and do not have a fixed expiration time.
Trading Derivatives Contracts on Everstrike is considered high risk.
To trade a Derivatives Contract on Everstrike you must first deposit collateral. Subject to market conditions, your position may be liquidated and you may lose your deposited collateral.
This can happen because the trading of Derivatives Contracts is highly leveraged. Your position may represent a much greater value than the amount of funds you deposit as collateral. In the case that you are not comfortable with these risks, you should refrain from engaging in the trading of Derivatives Contracts.
To open or close a position for a Derivatives Contract, you must submit an order. Once you have submitted an order, we will attempt to match it with another user on the Exchange that wishes to take the other end of the trade. We are under no obligation to accept or match any order submitted by you, and we maintain discretion over whether any order is accepted, matched, or executed. There will be no contract between you and another user until the proposed trade has been approved by us.
If we do not exercise our discretion to stop your order, our matching engine will attempt to match it with another user. Everstrike does not serve as counterparty in the trades entered into the Exchange.
We match all users anonymously and do not provide users with information about their counterparties.
You can trade out of any of your open positions in a Derivatives Contract by offering the reverse trade on the Exchange, provided that a counterparty is found, and that we do not exercise our discretion not to accept that trade. For a long position, this means that you sell Derivatives Contracts on the Exchange. For a short position, this means that you buy back Derivatives Contracts on the Exchange.
We calculate the profit and loss of your open positions in the Derivatives Contract based on a proprietary model (the Everstrike P/L Model). We choose the specification of the Everstrike P/L Model such that it reflects our view of the fair market price of the Derivatives Contract and we may change the specification at our discretion and at any time. Together, i) the Digital Assets you have deposited into your Account, ii) your realised profit or loss from closed positions in the Derivatives Contract and iii) the profit or loss from your open position in the Derivatives Contract as calculated by the P/L Model represent the collateral (the Collateral) that you have available to cover potential future losses from your open positions and open orders in the Derivatives Contract.
For each open long and short Derivatives Contract position and each open order to go long or short on a Derivatives Contract that would further increase your position size you need to provide collateral as published on the platform from time to time (Collateral Requirement).
It is your responsibility to constantly monitor your Collateral and to assure that it is equal to or higher than your Collateral Requirement. If this is not the case, it is your responsibility to immediately deposit additional Digital Assets into your Account and/or to cancel open orders in the Derivatives Contract and/or to trade out of existing positions in the Derivatives Contract such that your Collateral is equal to or higher than your Collateral Requirement. If your Collateral is lower than your Collateral Requirement Everstrike may, in its sole discretion, cancel your open orders in the Derivatives and/or liquidate some or all of your open positions in the Derivatives Contract (Position Liquidation). Everstrike will liquidate long positions by selling them to another user on the Exchange, and Everstrike will liquidate short positions by buying them back from another user on the Exchange.
Everstrike will liquidate all positions at the best available price on the Exchange at the time of Position Liquidation, and you agree to accept this price.
If Everstrike cannot liquidate some or all of your open positions in the Derivatives, for example due to lack of demand by other users to buy or sell, Everstrike may, at its sole discretion, assign some or all of your remaining open positions to another user who has previously agreed to receive assignments of positions for this purpose (Position Assignment). Everstrike will select the price at which your positions are assigned such that your remaining Collateral is zero.
In the event that Everstrike cannot assign some or all of your open positions in the Derivatives Contract, for example due to lack of users who have agreed to receive assignments of positions for this purpose, Everstrike may, in its sole discretion, deleverage some or all of your open positions (Position Deleverage). The contracts between you and your counterparties will then end at the deleverage price. Everstrike will select the deleverage price for each of your open positions such that all of your remaining Collateral is split equally between your counterparties, commensurate with the size of the open positions you have with each counterparty.
Everstrike does not benefit from Position Liquidations, Position Assignments or Position Deleverage other than in the form of standard transaction fees.
The rules and procedure Everstrike applies regarding the calculation of the P/L of open positions in the Derivatives Contracts, the calculation of Collateral, the calculation of the Collateral Requirement, Position Liquidation, Position Assignments and Position Deleverage are identical for all users.
Everstrike may, in its sole discretion, elect to discontinue its support for any Derivatives Contract that is currently listed on the Exchange.
Everstrike may, in its sole discretion, perform measures to mitigate potential losses to you on your behalf, including, but not limited to closing derivatives positions held in any Digital Asset or Digital Asset Index that Everstrike plans to delist from the Exchange in accordance with Section
5\.
The Derivatives Contracts will trade continuously from 00:01 to 24:00 UTC on every day of the year. Everstrike may suspend trading and access to the Exchange at any time for system maintenance or for other reasons such as maintaining an orderly market.
**Section 8 - Digital Asset Pricing Information**
You acknowledge that while Everstrike utilizes commercially reasonable methodology to provide exchange rate information, the exchange rate information provided by Everstrike may differ from the exchange rate information provided by third parties.
You further acknowledge that the market rate, for which your trade is subject to, may be different from the prevailing rate indicated on the Exchange. Everstrike shall not be liable for any potential losses related to price fluctuations or differences in actual versus indicated rates.
**Section 9 - Digital Asset Distributions**
In general, Everstrike does not support the distribution of assets based on an event, such as the possession of a particular asset, the provision of rewards or other similar payments for participation in a Digital Asset’s protocol, or any dividends that the Users might be entitled to claim based on their usage or possession of a Digital Asset outside the Exchange (collectively referred to as "Distributions").
Everstrike may at its sole discretion choose to support a particular Distribution but is not obliged to do so and shall bear no liability for failing to do so, or for initiating and subsequently terminating such support.
**Section 10 - Digital Asset Forks**
A Fork of a Digital Asset is a series of modifications to the source code of the Digital Asset that results in the existence of multiple versions of the Digital Asset. One version may end up becoming the leading version of the Digital Asset ("Leading Digital Asset") and the other versions may end up losing value or being abandoned ("Non-leading Digital Assets").
Everstrike is under no obligation to support a Fork of a Digital Asset that you hold in your Account. This is independent of whether the version that you hold is a Leading or Non-leading Digital Asset and it is independent of the value that the Digital Asset that you hold attains after such Fork.
Forks can be both frequent, contentious and erratic. Because of that we cannot consistently support them on Everstrike.
When you are trading on Everstrike or holding Digital Assets in your account, you should always operate under the assumption that Everstrike will never support the Fork of any Digital Asset.
Everstrike may, at its sole discretion, elect to support a particular Fork of a Digital Asset. It does so by making an announcement on the Site or notifying customers in other ways. Everstrike shall bear no liability for any real or potential losses that may occur as a result of the decision to support such Fork, the method in which it chooses to support the Fork and the timing or implementation of the support.
In the case that Everstrike chooses to not support a particular Fork, including the decision to support, not support or cease to support any particular Leading or Non-leading Digital Asset, Everstrike shall bear no liability or responsibility whatsoever for any losses or other issues that might arise as a consequence of an unsupported Fork of a Digital Asset.
In the event that a Fork takes place, Everstrike may deem it necessary to suspend all activities relating to the Forked Digital Asset. This may include, but is not limited to, deposits, withdrawals and trades. Everstrike may at its sole discretion determine when to resume such functionality. You should understand that you may not be capable of trading, depositing and withdrawing Digital Assets that are related to such Fork until Everstrike resumes such functionality. Everstrike does not bear any liability for losses incurred during any Downtime due to the inability to trade, transfer or otherwise transact in Digital Assets.
**Section 11 - Digital Asset Ownership**
You represent and warrant that any Digital Assets used by you in connection with the Services are either your own or that you are rightfully authorized to carry out transactions using such Digital Assets. You further represent and warrant that all transactions initiated from your own Account are for your own Account and not on behalf of any third party entity or person.
**Section 12 - Unentitled Data**
If you receive any data, information, or software through your usage of the Services other than that which you are entitled to receive pursuant to these Terms (collectively “Unentitled Data”), you may not use such Unentitled Data in any manner and you are required to notify Everstrike about such Unentitled Data immediately.
**Section 13 - Service Availability**
Everstrike shall make reasonable efforts to ensure that the Services are available to you. Access to the Services may be disrupted from time to time due to technical issues, necessary maintenance, network and system overloads or events outside of Everstrike’s control. Everstrike will use commercially reasonable efforts to avoid downtime of the Services during anticipated peak hours, but assumes no liability (whether for trading-related losses or otherwise) if the Services or any part thereof are unavailable at any time or for any period.
**Section 14 - Service Malfunctioning**
You must immediately notify Everstrike in the event that you become aware of any of the Services malfunctioning or a trading error occurring or if you otherwise experience any material malfunction or other connectivity problem that adversely affects your access to or use of any Services.
**Section 15 - Blockchain Network Attacks**
Everstrike does not have any ability to prevent or mitigate attacks on blockchain networks. Everstrike reserves the right to take the following actions in the event of an attack:
(i) if we are able to confirm that a Digital Asset active on Everstrike been compromised or is under attack, we may immediately halt trading, deposits, and withdrawals for such Digital Asset;
(ii) if it is determined that such an attack caused the Digital Asset to greatly decrease in value, we may discontinue trade activity in such Digital Asset entirely.
Everstrike does not have any obligation to engage in activity in relation to attacks on blockchain networks.
Everstrike will, in its sole discretion, and on a case-by-case basis, determine resolutions concerning deposits, withdrawals and User balances for an attacked Digital Asset.
Everstrike makes no representation and does not warrant the safety of Everstrike and you assume all liability for any lost value or stolen property.
**Section 16 - Confidential Information**
You undertake not to disclose to any person or persons any Confidential Information that you may acquire in the course of your use of the Exchange.
For the purposes of this Section, Confidential Information means any oral information or written information (including information provided in electronic form) which is a trade secret, confidential or proprietary and which is clearly identified as confidential at the time of disclosure or would be assumed by a reasonable person to be confidential under the circumstances surrounding the disclosure.
Notwithstanding the foregoing, Confidential Information shall not include information which is:
(i) publicly known or becomes publicly known through no wrongful act of you (ii) already known by you prior to receipt from us (iii) rightfully received from a third party without you having knowledge of a breach of any other relevant confidentiality obligation, or (iv) independently developed by you. The obligations of this clause do not prevent you from disclosing Confidential Information either: (a) to a third party pursuant to a written authorisation from us; or (b) to satisfy a requirement of, or demand by, a competent court of law or other tribunal or governmental, or administrative or regulatory or self-regulatory body or listing authority or any
Applicable Law, provided that Everstrike is notified prior to such disclosure to the extent permitted by Applicable Law.
**Section 17 - Development Services**
You acknowledge, agree and understand that certain of the Services (including any software that may be produced, developed or published by Everstrike from time to time) may be beta versions being tested at the time of release (a “Development Service”).
Consequentially, such Development Services may be unstable and may change from time to time. Everstrike does not warrant that the functionality of Development Services will meet your requirements or that the operation of Development Services will be uninterrupted or error-free. Everstrike reserves the right, at any time and for any reason, to discontinue, redesign, modify, enhance or change any Services (including the Development Services).
**Section 18 - Testnet Site**
You acknowledge, agree and understand that:
a) The Testnet Site is provided for informational and testing purposes, and not for educational purposes;
b) whilst the Testnet Site uses the same market data and indices as the Site, there may be discrepancies between the Testnet Site and the Site; and
c) any past performance and experience on and with Testnet Site is not a reliable indicator of future returns, performance and experience with the Site.
**Section 19 - API usage**
Subject to your compliance with this Agreement and any other agreement which may be in place between you and Everstrike related to your usage of the API, Everstrike hereby grants you a limited, revocable, non-transferable, non-exclusive, non-sublicensable license, to use the API solely for the purposes of trading on Everstrike.
You use and access the API completely at your own risk. Everstrike will not be responsible for any actions you take based on your usage of the API. You agree to not use the API or data provided through the API for any other commercial purpose.
Everstrike reserves the right to set limits on the number of API calls that you can make.
You acknowledge and agree that if you exceed these limits, Everstrike may moderate your activity or cease offering you access to the API (or any other API offered by Everstrike), each in its sole discretion. Everstrike may immediately suspend or terminate your access to the API without notice if it believes that you are in violation of the terms of this Agreement or any other agreement which may be in place between you and Everstrike and is related to your use of the API.
**Section 20 - Account suspension**
Everstrike may, in its sole discretion, without liability to you or any third party, suspend your Account, refuse to let you open an Account, terminate your Account or suspend your usage of one or more of the Services. Everstrike can take such actions for a variety of different reasons.
These reasons include, but are not limited to, failure to positively identify you, failure to respond to customer service requests, account inactivity, a court order or your violation of these Terms.
In the event that an event in our system causes an outage or one or more Account errors, we may also temporarily suspend your access to your Account, until such issues are fixed.
You may terminate this agreement at any point in time by simply closing your Account in accordance with these Terms. You can close your Account by contacting us. We will then help you close your Account. If we, in our sole discretion, determine that such closure is
being initiated by you in order to evade a legal or regulatory investigation or to avoid paying any amounts due to Everstrike, we may refuse to close your Account.
Before asking us to close your Account we recommend that you withdraw any Digital Assets that you have left in your Account balance. We reserve the right to restrict or refuse to permit withdrawals from your Account if
(i) doing so would be prohibited by court or law order,
(ii) your Account has otherwise been closed or suspended by us in accordance with these Terms,
(iii) we have come to the conclusion that the Digital Assets in your Account were obtained in a
fraudulent manner
(iiii) you have not completed the required identity verification procedure.
Upon the suspension or closure of your Account, you authorize Everstrike to cancel or suspend any pending transactions.
In the case that Everstrike terminates your access to the Services, terminates this agreement, deactivates your Account or closes your Account, you remain liable for all of the activity that has been conducted with or in connection with your Account during the time for which it was open and for all amounts that are due in connection with such activity.
**Section 21 - Transaction suspension**
Everstrike may, at is sole discretion, refuse to process transactions if
(i) we believe the transaction is fraudulent, suspicious or involves
misconduct (ii) the transaction violates applicable laws and regulations
(iii) the transaction violates these Terms.
In case we suspend the processing of any of your transactions, we will, where permitted by law, notify you at the end of the business day and if possible provide you with our reasons for doing so and inform you about the remedies that can be taken to resolve the issue that lead to suspension.
**Section 22 - Change in features**
Everstrike may, at any time point in time and in any jurisdiction, and without notice and without liability, suspend, change or discontinue any part of the Services. This includes the hours of operation and the availability of specific features. Everstrike may, in its sole discretion, suspend your access to or one or more of the Services.
Such suspension of your access to one or more of the Services will not affect your rights and obligations pursuant to these Terms.
**Section 23 - Fees**
Everstrike maintains a Fee Schedule, available on our website. In return for your use of the Services, you agree to pay Everstrike any applicable fees, as set forth in this Fee Schedule. Everstrike may, at its sole discretion, make periodic updates to this Fee Schedule. Everstrike may also make available an Alternative Fee Schedule to Users that meet certain volume requirements. The fees set forth in the Fee Schedule and any Alternative Fee Schedule are determined by Everstrike in its sole discretion. By using the Services, you authorize Everstrike to deduct any applicable fees from your Account balance whenever you make a transaction. Updates to the Fee Schedule and any Alternative Fee Schedule are effective as of the date set forth in the revision and will apply from that date and onwards.
**Section 24 - Promotions**
If Everstrike chooses to participate in promotions it will generally provide an official statement about the promotion on the Site or any other applicable place. If you decide to release any statements, public announcements or public disclosures that are related to Everstrike, you must first obtain written permission from Everstrike.
**Section 25 - Phishing, malware and computer viruses**
Everstrike shall not be liable for any damage or interruption in service caused by (i) computer viruses, worms, spyware or other malware that may affect your electronic devices. (ii) spoofing, phising or other related attacks
We encourage you to log in to Everstrike using the official Exchange website (the Testnet Site if you signed up there, otherwise the Site) and not through external links sent to you in emails.
**Section 26 - Protection of Account Credentials and Account Information**
As a User on Everstrike, you are responsible for keeping your email address and other personal information up to date. You are also responsible for securing your Account credentials and User information. These include, but are not limited to, User id strings
and passwords. Furthermore, you are responsible for enabling all of the relevant security features provided to you on the Site.
If you ever become aware of any unauthorized or suspicious usage of your Account, or any other breach of security related to the Services, you agree to notify Everstrike as soon as possible. Everstrike shall not be liable for any loss or damage that resulted from you failing to protect your Account credentials or User information, or your failure to adopt the appropriate security measures.
**Section 27 - Taxes**
It will be possible for you to download a record of all of your past transactions through the Site.
You may use this record for the purpose of tax filings. It is your own responsibility to figure out the taxes that apply to your usage of the Services and to collect, report and remit the correct taxes to the correct authorities.
It is not the job of Everstrike to figure out whether taxes apply to your transactions or not.
Collecting, reporting and remitting any taxes that result from a transaction is your own responsibility and not the responsibility of Everstrike.
**Section 28 - Feedback**
You hereby acknowledge and agree that any materials you provide to Everstrike, whether it be through posting directly on the Site, the Testnet Site, or through social media, email, or other social channels, regarding the Services and Everstrike, will become the sole property of Everstrike.
Everstrike will own exclude rights to these materials, including all intellectual properties, and Everstrike may use such materials for any purpose, commercial or otherwise, without acknowledging or compensating you.
**Section 29 - Abandoned property**
Applicable law may require Everstrike to report funds that are considered unclaimed property to the applicable jurisdiction. In the event that Everstrike holds funds in your Account and we have no record of you using the Services for a prolonged period of time, we will attempt to contact you. If we are unable to contact you, we will try to locate you at the address that you provided to us. If we are unable to locate you, we may need to deliver your funds to the applicable jurisdiction as unclaimed property. Everstrike may, as permitted by applicable law, deduct a dormancy fee or other administrative charges from such unclaimed property.
**Section 30 - Third party content**
In using the Services, you may view content provided by third parties, including links to web
pages of such parties, including but not limited to Facebook and Twitter links ("Third-Party Content"). Everstrike does not control, endorse or adopt any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. Everstrike is not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.
**Section 31 - Third party permissions**
In the case that you grant a third party permission to connect to your Account, either through the third party’s product or through Everstrike, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this agreement. Further, you acknowledge and agree that you will not hold Everstrike responsible for, and will indemnify Everstrike from, any liability arising from the actions or inactions of such third party in connection with the permissions you grant.
**Section 32 - Restricted Territories**
The Services are subject to all applicable export control restrictions, and, by using the Services, you represent that your actions are not in violation of such export control restrictions. Without limiting the foregoing, you may not use the Services if (i) you are a resident, national or agent of Crimea and Sevastopol, Cuba, Iran, Sudan, North Korea, Syria, or any other country to which the United States, the United Kingdom or the European Union embargoes goods or imposes similar sanctions (“Restricted Territories”); (ii) you are a member of any sanctions list or equivalent maintained by the United States government, the United Kingdom government or by the European Union (“Restricted Persons”); (iii) you intend to transact with any Restricted Territories or Restricted Persons; (iv) you are a resident, national or agent of the United States of America, Canada, Iraq, Donetsk People's Republic, Lukhansk People's Republic, U.S. Virgin Islands, Puerto Rico, Guam, American Samoa, Bosnia or Romania (v) you you are located, incorporated or otherwise established in, or a citizen or resident of a jurisdiction where it would be illegal under Applicable Law for you (by reason of your nationality, domicile, citizenship, residence or otherwise) to access or use the Services; or (vi) the publication or availability of the Services is prohibited or contrary to local law or regulation, or could subject Everstrike to any local registration or licensing requirements.
You acknowledge, agree and understand that if you travel to any Restricted Territory, the Services may not be available and your access to the Services may be blocked. You acknowledge that this may impact your ability to trade on the Exchange or monitor any existing orders or open positions or otherwise use the Services. You must not attempt in any way to circumvent any such restriction, including by use of any virtual private network to modify your internet protocol address.
**Section 33 - Restricted Activities**
In connection with your usage of the Services, you will not:
● Provide false, inaccurate, incomplete or misleading information.
● Engage in any illegal activity, including without limitation illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices.
● Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member through your use of the Services.
● Distribute unsolicited or unauthorized advertising or promotional material, written media releases, public announcements and public disclosures, junk mail, spam or chain letters. ● Infringe upon Everstrike's or any third party's copyright, patent, trademark, or intellectual property rights.
● Attempt to gain unauthorized access to other Everstrike accounts, the Site, the Testnet Site, or any related networks or systems.
● Transmit or upload any virus, worm, or other malicious software or program. ● Take any action that interferes with, intercepts, or expropriates any system, data, or information.
● Take any action that imposes an unreasonably large load on the infrastructure of the Services
● Defame, harass, or violate the privacy or intellectual property rights of Everstrike or any other Everstrike users.
● Use the Services on behalf of any third party or otherwise act as an intermediary between Everstrike and any third parties.
● Use a web crawler or similar to access the Services
● Reverse engineer or disassemble any part of the Site, the Testnet Site, the API or the Services in an effort to access any code, concepts, underlying ideas and algorithms ● Perform unauthorized penetration testing, vulnerability testing or similar testing, on the API
● Transfer any of the rights granted to you under these Terms
● Engage in any action that, in our reasonable opinion, constitutes or may constitute market abuse - including but not limited to front running, wash trading, submitting fictitious transactions or engaging in any form of disorderly market conduct ● Engage in any unlawful action
● Engage in any action that violates these Terms or that is otherwise deemed unacceptable by Everstrike in its sole discretion.
**Section 34 - Risk Disclosure**
BY TRADING ON THE EXCHANGE, YOU CAN LOSE UP TO YOUR ENTIRE DEPOSIT. You should not deposit Digital Assets that you cannot afford to lose. You should seek advice from an independent and suitably licensed financial advisor and ensure that you have the risk appetite, relevant experience and knowledge before you decide to trade. When trading on the Exchange, it is your responsibility:
(i) To familiarize yourself with Digital Assets and Everstrike’ Digital Asset Derivatives before
you start trading;
(ii) To monitor your open positions and to reduce your position or deposit additional margin to avoid a losing position being closed out;
(iii) Not to deposit more than you can afford to lose;
(iiii) Not to build positions that are beyond your financial capacity to maintain.
By using the Exchange you acknowledge that you have understood the associated risks and that you accept these risks, in particular that:
Digital Asset is a highly volatile asset class and is based on decentralised monetary protocols which are still in the experimental stage and may change at any time;
Trading the Derivatives exposes you to market risk. This is the risk that you suffer a loss as a result of a position in the Derivatives moving against you. If you hold a long position and the Digital Asset price declines or if you hold a short position and the Digital Asset price increases, you can lose all of your Digital Assets;
Trading the Derivatives exposes you to credit risk. This is the risk that one or more of your counterparties have deposited insufficient Collateral into their Account(s) such that you may not receive some or all the Digital Asset they owe you;
Trading the Derivatives exposes you to liquidity risk. This is the risk that you suffer a loss because you cannot close out a Derivatives position because there is no demand to take the other side of that trade;
Trading the Derivatives exposes you to operational risk. This is the risk that you suffer a loss because of a malfunction of the Exchange, for example resulting from scheduled or unscheduled downtimes, matching system failure, database failure, Digital Asset transfer or storage failure, failure or malfunction of the API, hacker attacks or other failure or malfunction;
Trading the Derivatives exposes you to regulatory risk. This is the risk that you suffer a loss because we have to restrict or terminate elements of our service in response to regulatory action.
**Section 35 - IP rights**
All Intellectual Property Rights relating to the Exchange, all the material used on the Exchange and the Services including, but not limited to, design, structure, layouts, graphical images and underlying source code belong to Everstrike. All rights are reserved.
You acknowledge that, except as otherwise agreed between the parties in writing, all Intellectual Property Rights of Everstrike in the Exchange and the Services shall
remain with Everstrike. You are not granted any right to use, and may not use, any of Everstrike’s Intellectual Property Rights other than as set out in these Terms and subject to the following conditions: i) you may only view and use the Services and the Exchange (or any part of it or its contents) for your own personal use and may not copy, reproduce, republish, upload, repost, modify, transmit, distribute or otherwise use the Services and the Exchange (or any part of it or its content) in any way for non-personal, public or commercial use without the prior written consent of Everstrike. All restrictions relating to use of the Services and the Exchange in these Terms shall apply to data available through any APIs; ii) you may not remove or modify any copyright, trademark or other proprietary notices that have been placed in any part of the Services; and iii) you may not use any data mining, robots or similar data-gathering or extraction methods.
**Section 36 - Indemnification**
You hereby agree to indemnify and hold Everstrike, its affiliates and service providers, and each of their shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers and contractors harmless from any demand or claim (including lawyer’s fees, and including any losses, fines, fees or penalties imposed by a regulatory authority) arising out of your breach of these Terms, your violation of any law or regulation or your use of the Services. “Losses”, for the purpose of this Section 36, refers to the net costs reasonably incurred by us or other persons referred to in this Section which are the result of matters set out in this Section 36, and which may relate to any demands, claims, debt, expenses, cost, causes of action or other liability, including reasonable legal fees (without duplication).
In the event that you have a dispute with one or several third parties or Users, you release Everstrike (and its affiliates and service providers, and each of its shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers and contractors) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. In the event that you have a dispute with someone else than Everstrike, you release Everstrike from liability associated with that dispute.
**Section 37 - Limitation of liability**
YOU EXPRESSLY UNDERSTAND AND AGREE THAT Everstrike AND OUR AFFILIATES AND SERVICE PROVIDERS AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS AND CONTRACTORS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY DAMAGES, OR DAMAGES FOR LOSS OF PROFITS INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF Everstrike HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES), WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT
LIABILITY, OR OTHERWISE, RESULTING FROM: (I) THE USE OR THE INABILITY TO USE THE SERVICES; (II) THE
COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED OR MESSAGES
RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM THE SERVICES; (III) UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; OR (IV) ANY OTHER MATTER RELATING TO THE SERVICES. NOTWITHSTANDING THE FOREGOING, IN NO EVENT WILL THE LIABILITY OF Everstrike, OUR AFFILIATES AND SERVICE PROVIDERS AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS
AND CONTRACTORS ARISING OUT OF OR IN CONNECTION THE SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF Everstrike OR ITS AFFILIATES WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY, EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO Everstrike UNDER THIS AGREEMENT IN THE TWELVE-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.
**Section 38 - No warranty**
TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, THE SERVICES AND ANY PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF Everstrike ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS AND Everstrike EXPRESSLY DISCLAIMS, AND YOU WAIVE, ANY AND ALL OTHER WARRANTIES OF ANY KIND, WHETHER
EXPRESS OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT OR WARRANTIES ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE IN TRADE. WITHOUT LIMITING THE FOREGOING, THE Everstrike DOES NOT REPRESENT OR WARRANT THAT THE SERVICES ARE ACCURATE, COMPLETE, RELIABLE, CURRENT OR ERROR-FREE, OR FREE OF
VIRUSES OR OTHER HARMFUL COMPONENTS.
**Section 39 - Force Majeure**
Everstrike shall not be liable for (1) any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information; (2) any loss or damage arising from any event beyond Everstrike's reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond Everstrike's reasonable control (each, a "Force Majeure Event").
**Section 40 - Governing Law**
The terms are governed by and construed in accordance with English Law. The International Business Companies Act 1994 is the principal legislation that governs corporates in the Republic of Seychelles.
**Section 41 - Assignment**
You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from Everstrike, including by operation of law or in connection with any change of control. Everstrike may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval. In the event that you object to such an assignment or transfer, you may stop using the Services and terminate this agreement by requesting us to close your Account. You may request us to close your Account by contacting us.
**Section 42 - Amendments**
We may amend any portion of these Terms at any time by posting the revised version of these Terms with an updated revision date. The changes will become effective, and shall be deemed accepted by you, the first time you use the Services after the initial posting of the revised agreement and shall apply on a going-forward basis with respect to transactions initiated after the posting date. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your Account. You agree that we shall not be liable to you or any third party as a result of any losses suffered by any modification or amendment of these Terms.
**Section 43 - Survival**
Upon termination of your Account or this agreement for any other reason, all obligations and rights of the parties that by their nature are continuing will survive such termination.
**Section 44 - Severability**
If any provision or part-provision of these Terms is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of these Terms. If any provision or part-provision of these Terms is invalid, illegal or unenforceable, the parties shall negotiate in good faith to amend such provision so that, as amended, it is legal, valid and enforceable, and, to the greatest extent possible, achieves the intended commercial result of the original provision.
**Section 45 - Waiver**
Our failure or delay in exercising any right, power or privilege under these Terms shall
not operate as a waiver thereof.
**Section 46 - Dispute Resolution**
Subject to the Applicable Law of your jurisdiction, the courts of the Republic of Seychelles have non-exclusive jurisdiction to settle any dispute arising from or connected with these Terms (including a dispute relating to the existence, validity or termination of these Terms
or the consequences of their nullity or any non-contractual obligation arising out of or in connection with these Terms).
Questions?
If you have any questions regarding these Terms, do not hesitate to contact us.
# Privacy Policy
**Everstrike Privacy Policy**
Your privacy is critically important to us. At Everstrike, we have a few fundamental principles:
● We are thoughtful about the personal information we ask you to provide and the personal information that we collect about you through the operation of our services.
● We store personal information for only as long as we have a reason to keep it.
● We aim to make it as simple as possible for you to control what information on your website is shared publicly (or kept private), indexed by search engines, and permanently deleted.
● We help protect you from overreaching government demands for your personal information.
● We aim for full transparency on how we gather, use, and share your personal information.
Below is our Privacy Policy, which incorporates and clarifies these principles.
By visiting, accessing or using any of the Everstrike websites, or any of Everstrike’s other Services as defined below, you acknowledge that we use your personal data as set out in this Privacy Policy.
**Who We Are and What This Policy Covers**
Howdy! We are the folks behind Everstrike - an all-in-one vibetrading platform for crypto futures, options and spot.
This Privacy Policy applies to information that we collect about you when you:
● Use any of our Websites (everstrike.io, testnet.everstrike.io);
● Use our Application Programming Interface (API);
● Communicate with our Support Heroes
Throughout this Privacy Policy we’ll refer to our website and other products and services collectively as “Services.” Below we explain how we collect, use, and share information about you, along with the choices that you have with respect to that information.
**Information We Collect**
We only collect information about you if we have a reason to do so–for example, to provide our Services, to communicate with you, or to make our Services better. We collect information in three ways: if and when you provide information to us, automatically through operating our Services, and from outside sources. Let’s go over the information that we collect.
**Information You Provide to Us**
It’s probably no surprise that we collect information that you provide to us. The amount and type of information depends on the context and how we use the information. Here are some examples:
● Basic Account Information. We ask for basic information from you in order to set up your account. For example, we require individuals who sign up for a Everstrike.com account to provide an email address along with a nickname and country.
● Google Account Email. When signing up, you may, optionally, provide us with your Google account email address. To do so, click the “Sign up with Google” button. Your Google email address will then be used as the primary email address for your account on Everstrike. Your Google email address will not be shared with third parties, and will be stored by us infinitely, or until you delete your account on Everstrike.
● Communications with Us (Hi There!). You may also provide us information when you communicate with our Support Heroes about a support question or sign up for a newsletter. When you communicate with us via form, email, comment, or otherwise, we store a copy of our communications.
● Identity Verification Information. We may be required to collect additional personal data about you in order to be compliant with regulations regarding Know-Your-Customer (KYC), Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF). This information may include a copy of your government-issued ID and proof of residence (like a utility bill).
● Corporate information. To verify your corporate information, we may collect data from public company registers.
**Information We Collect Automatically**
We also collect some information automatically:
● Log Information. Like most online service providers, we collect information that web browsers, mobile devices, and servers typically make available, such as the browser type, IP address, unique device identifiers, language preference, referring site, the date and time of access, operating system, and mobile network information. We collect log information when you use our Services–for example, when you create an account or place an order.
● Usage Information. We collect information about your usage of our Services. For example, we collect information about the orders that you place and the trades that you take part in. We collect this data to present you with detailed overviews and statistics about your trading history.
● Location Information. We may determine the approximate location of your device from your IP address. We collect and use this information to, for example, calculate how many people visit our Services from certain geographic regions.
● Information from Cookies & Other Technologies. A cookie is a string of information that a website stores on a visitor’s computer, and that the visitor’s browser provides to the website each time the visitor returns. Everstrike uses cookies to help us identify and track visitors, usage, and access preferences for our Services.
**How and Why We Use Information**
We use information about you as mentioned above and for the purposes listed below:
● To provide our Services–for example, to set up and maintain your account, place orders on your account, make deposits and withdrawals on your account and login to your account.
● To further develop and improve our Services–for example by adding new features that we think our users will enjoy or will help them to trade more effectively;
● To monitor and analyze trends and better understand how users interact with our Services, which helps us improve our Services and make them easier to use; ● To measure, gauge, and improve the effectiveness of our user interface, and better understand user retention and attrition--for example, we may analyze how many individuals placed an order for a specific trading pair during a certain length of time; ● To monitor and prevent any problems with our Services, protect the security of our Services, detect and prevent fraudulent transactions and other illegal activities, fight spam, and protect the rights and property of Everstrike and others, which may result in us declining a transaction or the use of our Services;
● To verify your identity.
● To communicate with you. For example, we may email you to solicit your feedback, share tips for getting the most out of our products, or keep you up to date on Everstrike; text or email you to verify your ownership of device you are logging in with; or email you to share important information about your account. If you don’t want to hear from us, you can opt out of marketing communications at any time. (Please keep in mind that even if you opt out, we’ll still send you important updates relating to your account); and
● To personalize your experience using our Services and provide content recommendations.
**Legal Bases for Collecting and Using Information**
A note here for those in the European Union about our legal grounds for processing information about you under EU data protection laws, which is that our use of your information is based on the grounds that: (1) The use is necessary in order to fulfill our commitments to you under the applicable terms of service or other agreements with you or is necessary to administer and improve the security of your account - for example, to verify your ownership of devices that you use to access your account; or (2) The use is necessary for compliance with a legal obligation; or (3) The use is necessary in order to protect your vital interests or those of another person; or (4) We have a legitimate interest in using your information -- for example, to provide and update our Services; to improve our Services so that we can offer you an even better user experience; to safeguard our Services; to communicate with you; to understand our user retention and attrition; to monitor and prevent any problems with our Services; and to personalize your experience
**Sharing Information - How We Share Information**
We do not sell our users’ private personal information. We share information about you in the limited circumstances spelled out below and with appropriate safeguards on your privacy:
● Subsidiaries, Employees, and Independent Contractors. We may disclose information about you to our subsidiaries, our employees, and individuals who are our independent contractors that need to know the information in order to help us provide our Services or to process the information on our behalf. We require our subsidiaries, employees, and independent contractors to follow this Privacy Policy for personal information that we share with them.
● Third Party Vendors. We may share information about you with third party vendors who need to know information about you in order to provide their services to us. This group includes vendors that help us provide our Services to you (like fraud prevention services that allow us to analyze fraudulent transactions, postal and email delivery services that help us stay in touch with you, customer chat and email support services that help us communicate with you), those that assist us with our marketing efforts (e.g. by providing tools for identifying a specific marketing target group or improving our marketing campaigns) and those that help us understand and enhance our Services (like analytics providers).
● Legal and Regulatory Requirements. We may, in response to a subpoena, court order, or other governmental request, or if necessary in order to report suspected illegal activity, disclose information about you to law enforcement, data protection authorities, government officials and other authorities. We may transfer your data to a regulatory authority, if we are required to do so by law or under any regulatory code or practice we follow, or if we are defending a legal claim.
● To Protect Rights, Property, and Others. We may disclose information about you when we believe in good faith that disclosure is reasonably necessary to protect the property or rights of Everstrike, third parties, or the public at large. For example, if we have a good faith belief that there is an imminent danger of death or serious physical injury, we may disclose information related to the emergency without delay.
● Business Transfers. In connection with any merger, sale of company assets, or acquisition of all or a portion of our business by another company, or in the unlikely event that Everstrike goes out of business or enters bankruptcy, user information would likely be one of the assets that is transferred or acquired by a third party. If any of these events were to happen, this Privacy Policy would continue to apply to your information and the party receiving your information may continue to use your information, but only consistent with this Privacy Policy.
● With Your Consent. We may share and disclose information with your consent or at your direction. For example, we may share your information with third parties with which you authorize us to do so.
● Aggregated or De-Identified Information. We may share information that has been aggregated or reasonably de-identified, so that the information could not reasonably be used to identify you. For instance, we may publish aggregate statistics about the use of our Services.
● Published Support Requests. And if you send us a request (for example, via a support email or one of our feedback mechanisms), we reserve the right to publish that request in order to help us clarify or respond to your request or to help us support other users.
**How Long We Keep Information**
We generally discard information about you when we no longer need the information for the purposes for which we collect and use it --which are described in the section above on How and Why We Use Information--and we are not legally required to continue to keep it. For example, we keep the web server logs that record information about a visitor to one of Everstrike’s websites, such as the visitor’s IP address, browser type, and operating system, for approximately five years. We retain the logs for this period of time in order to, among other things, improve the
security of your account by requiring devices that you haven’t used before to log in to your account to be verified through your email, analyze traffic to Everstrike’s websites and investigate issues if something goes wrong on one of our websites. After the five years are up, the deleted content may remain on our backups and caches until purged. If there is an ongoing legal or financial claim, we may retain your personal data longer.
**Security**
All data submitted through the website is transmitted via encrypted Transport Layer Security (TLS) connections. Your data is encrypted both at rest (using AES256 encryption) and in transit. Encryption keys are rotated frequently. Your password is cryptographically hashed using Bcrypt with a cost factor of 12. All electronic communication between employees is PGP-encrypted.
Only carefully vetted and authorized employees have access to your personal data. These employees are required to treat your personal data as highly confidential.
We never ask you for financial information such as credit card number, bank account number, password, PIN or similar in email, text or any other communication. If you ever get asked for such financial information by someone pretending to be Everstrike, or by someone pretending to work for Everstrike, please do not give them any information and contact us immediately.
We also never ask you for your password. If you ever get asked for such password by someone pretending to be Everstrike, or by someone pretending to work for Everstrike, please do not give them any information and contact us immediately.
To enhance the security of your account, we encourage you to enable our advanced security settings, like Two Factor Authentication.
**Choices**
You have several choices available when it comes to information about you:
● Limit the Information that You Provide. If you have an account with us, you can choose not to submit any messages in the chat.
● Opt-Out of Marketing Communications. You may opt out of receiving promotional communications from us. Just follow the instructions in those communications or let us know. If you opt out of promotional communications, we may still send you other communications, like those about your account and legal notices.
● Set Your Browser to Reject Cookies. You can set your browser to remove or reject browser cookies before using Everstrike’s websites, with the drawback that certain features of Everstrike’s websites may not function properly without the aid of cookies.
● Close Your Account. While we’d be very sad to see you go, if you no longer want to use our Services :( :( :( :(, you can ask us to close your account by contacting us. Please keep in mind that we may continue to retain your information after closing your account, as described in How Long We Keep Information above--for example, when that information is reasonably needed to comply with (or demonstrate our compliance with) legal obligations such as law enforcement requests, or reasonably needed for our legitimate business interests.
**Your Rights**
If you are located in certain countries, including those that fall under the scope of the European General Data Protection Regulation (AKA the “GDPR”), data protection laws give you rights with respect to your personal data, subject to any exemptions provided by the law, including the rights to:
● Request access to your personal data;
● Request correction or deletion of your personal data;
● Object to our use and processing of your personal data;
● Request that we limit our use and processing of your personal data; and ● Request portability of your personal data.
You can usually access, correct, or delete your personal data using your account settings and tools that we offer, but if you aren’t able to do that, scroll down to How to Reach Us to, well, find out how to reach us. Please note that we may refuse a request to delete your data, for example if we are required to hold your personal data for compliance with law or in connection with legal claims. While we are committed to honoring any objections you may have as to the way we use and process your data, we reserve the right to deny the objection and continue the use and processing of your data, if legally required to do so. During the investigation of your objection, we will suspend the processing of your personal data.
EU individuals also have the right to make a complaint to a government supervisory authority. How to Reach Us
If you have a question about this Privacy Policy, or you would like to contact us about any of the rights mentioned in the Your Rights section above, please contact us.
**Transferring Information**
Because Everstrike’s Services are offered worldwide, the information about you that we process
when you use the Services in the EU may be used, stored, and/or accessed by individuals operating outside the European Economic Area (EEA) who work for us, other members of our group of companies, or third party data processors. This is required for the purposes listed in the How and Why We Use Information section above. When providing information about you to entities outside the EEA, we will take appropriate measures to ensure that the recipient protects your personal information adequately in accordance with this Privacy Policy as required by applicable law.
You can ask us for more information about the steps we take to protect your personal information when transferring it from the EU.
**Privacy Policy Changes**
Although most changes are likely to be minor, Everstrike may change its Privacy Policy from time to time. Everstrike encourages visitors to frequently check this page for any changes to its Privacy Policy. If we make changes, we will notify you by revising the change log below, and, in some cases, we may provide additional notice (such as adding a statement to our homepage, or sending you a notification through email or your dashboard). Your further use of the Services after a change to our Privacy Policy will be subject to the updated policy.
**Translation**
Our Privacy Policy was originally written in English (US). We may translate it into other languages in the future and make these translated versions available in our Knowledge Base.
In the event of a conflict between a translated version of our Privacy Policy and the English version, the English version will control.
That’s it! Thanks for reading.
# Restricted Jurisdictions and Territories
Everstrike does not provide services to residents (companies or individuals) of the following jurisdictions and territories:
* Afghanistan
* American Samoa
* Canada
* Crimea and Sevastopol
* Cuba
* Denmark
* Donetsk People's Republic
* Guam
* Iran
* Iraq
* Lukhansk People's Republic
* North Korea
* Puerto Rico
* Syria
* Sudan
* The Republic of the Seychelles
* United States of America
* U.S. Virgin Islands
**Sanctions**
Everstrike will follow all sanctions from the United States and general international sanctions.\
\
Everstrike has no plans for restrictions additional to the international sanctions, and will not hold the funds of any clients unless they were specifically mentioned in these sanctions.
# Everstrike Bonuses: Restrictions
Everstrike provides a trading bonus to new traders that meet certain requirements.
The trading bonus is completely free of charge. It can be used as margin, and to open new positions on Everstrike. All profit made with the bonus can be withdrawn. However, to prevent abuse, it has certain restrictions in place:
* After opening a position with the bonus, new positions cannot be opened for the next **4 hours**.
* After using the bonus to place an order that **increases** your position, new orders cannot be placed for the next **10 minutes**.
* The bonus can only be used on the following trading pairs:
* BTC/USD
* ETH/USD
* BNB/USD
To remove these restrictions, users can do **one** of the following:
* Fund their account
* Reach $2,000 in total profit on the Everstrike Testnet
* Refer three friends to Everstrike
After doing **one** of the above, all restrictions will be immediately removed.
# Everstrike Bonuses: Terms and Conditions
1. Everstrike Bonuses can be used as margin for contract trading and to pay trading fees. Everstrike Bonuses cannot be used for spot trading, and cannot be withdrawn.
2. Abusing the Everstrike Bonus system by claiming the Everstrike Bonuses with multiple accounts is strictly prohibited, and will result in immediate termination of all associated accounts.
3. Everstrike reserves the right to disqualify any Everstrike Bonus participants who engage in fraudulent or abusive behavior such as the farming of bonuses with multiple accounts, using fake Twitter accounts, or claiming a Funding Bonus and immediately withdrawing everything after receiving it.
4. The Everstrike Sign Up Bonus may not be available to people who share the same household. In case multiple people from the same household claim the Everstrike Sign Up Bonus, only one of them will receive it. The other people in the household may still claim the Everstrike Social Bonus, and the Everstrike Funding Bonuses.
5. Not all Twitter accounts are eligible for the Everstrike Social Bonus. See the eligibility requirements [here](https://docs.google.com/forms/d/e/1FAIpQLSf2e5sSMypqHa-kDHBfUsbRU1ABlvRyPc5jJrXxFkGGF01b1w/viewform).
6. The Everstrike Sign Up Bonus and the Everstrike Social Bonus expire after 30 days. Participants can make the bonuses perpetual by funding their account within 30 days of receiving them.
7. Everstrike reserves the right of final interpretation of all terms and conditions.
# Announcements
# Welcome To Everstrike
Start trading on Everstrike with AI strategies, spot, futures, and options.
Everstrike is a decentralized exchange for spot, perpetual futures, and perpetual options. Write strategies in plain English, then let AI evaluate them and trade when conditions are met.
You can use self-custodied **DEX mode** or managed **CEX mode**. Learn the difference in [DEX Mode vs. CEX Mode](/account/dex-mode-vs.-cex-mode).
### Get started
1. Complete [account setup](/trading/how-to-start-trading-on-everstrike).
2. Review [supported networks and stablecoins](/account/supported-networks-and-stablecoins).
3. [Deposit, stake, and mint](/account/how-to-deposit-withdraw-and-stake-on-everstrike) before trading in DEX mode.
### Trade with AI
AI strategies evaluate your chosen markets and can submit trades on your behalf. Set clear instructions, a maximum trade quantity, and a minimum confidence threshold.
* Start with [strategies](/ai/strategies).
* Review [supported data](/ai/supported-data) before writing prompts.
* Inspect [events](/ai/events) to validate strategy decisions.
### Beta status
Everstrike is in beta. Keep these conditions in mind:
* The web interface may contain non-critical bugs.
* Mainnet liquidity may not support large trades.
* Contract specifications and legal documents may change with one week's notice.
* New API endpoints or parameters may be introduced with one week's notice.
* Existing API endpoints remain backwards compatible.
* Support response times may be slow.
### Explore safely
Try the [testnet markets](https://app.testnet.everstrike.io/app/markets) before using mainnet funds. Review [Trading Fees](/trading/trading-fees) before placing your first trade.
# Frequently Asked Questions
Answers to common questions about Everstrike markets, access, APIs, and liquidity.
### Markets and trading
#### What can I trade on Everstrike?
Everstrike supports spot, perpetual futures, and perpetual options.
Perpetual volatility indices and perpetual variance swaps are planned for 2027. Follow [X](https://x.com/everstrike_dex) or [Telegram](https://t.me/everstrike_dex) for updates.
#### Is Everstrike order book-based?
Yes. Everstrike is a hybrid DEX with an off-chain orderbook and on-chain custody/settlement.
Read about the [technical architecture](/technical-architecture).
#### Is Everstrike live?
Yes. Everstrike Mainnet launched in March 2025. [Start trading](https://app.everstrike.io/app/trade).
Try [demo mode](https://app.testnet.everstrike.io/app/trade?throwaway=true) before depositing mainnet funds.
### Testnet
#### What can I do on the testnet?
Use the testnet to test and practise trading strategies.
#### Are testnet funds real?
No. The $20,000 USD in your testnet account is for demonstration only.
### APIs and data
#### Is there an API?
Yes. Everstrike provides:
* [REST API](https://docs.testnet.everstrike.io/)
* [WebSocket API](https://everstrikeio.github.io/everstrike-websockets-api/)
#### How can I access historical trade data?
Use the [`/trades` endpoint](https://docs.testnet.everstrike.io/#tag/Public/operation/trades) for historical trades. The REST API also provides historical OHLCV data.
See the [REST API documentation](https://docs.testnet.everstrike.io/) for endpoint details.
### Liquidity
#### How can I provide liquidity?
The [Everstrike APIs](https://docs.testnet.everstrike.io/) are open to everyone. Use them to run your own market-making strategy.
You can also use the open-source [market-making bot](https://github.com/everstrikeio/market_maker).
#### What is the Everstrike Perpetual Vault?
The Everstrike Perpetual Vault is Everstrike's official liquidity-provider vault. It offers direct, non-programmatic liquidity provisioning and powers [evUSD](/account/evusd), Everstrike's native stablecoin.
Learn more about the [Perpetual Vault](/trading/perpetual-vault).
### Account access
#### Can I use Everstrike without a wallet?
Yes. Everstrike supports DEX mode and CEX mode.
In CEX mode, Everstrike creates and manages a wallet for you. A wallet connection is not required.
See [DEX Mode vs. CEX Mode](/account/dex-mode-vs.-cex-mode).
### Announcements
#### Are competitions or airdrops running now?
No events are currently running. Upcoming events are announced on [X](https://x.com/everstrike_dex) and [Telegram](https://t.me/everstrike_dex).
# Everstrike Testnet Adds Support For Arbitrum Sepolia
The Arbitrum Sepolia network has been added to the list of supported networks on Everstrike Testnet, expanding the list from just one network (Ethereum Sepolia) to two networks (Ethereum Sepolia and Arbitrum Sepolia).
Just like Ethereum Sepolia, Arbitrum Sepolia supports USDT in DEX mode, and USDT/USDC/DAI/BUSD in CEX mode.
### Why add Arbitrum Sepolia?
The block time of Arbitrum Sepolia is significantly faster than for Ethereum Sepolia, allowing for faster testnet deposits, withdrawals and smart contract interactions.
### How can I get started with Arbitrum Sepolia?
Follow [this](https://help.everstrike.io/en/articles/10389554-testnet-eth) guide to get Arbitrum Sepolia ETH for testing.
### Useful links
[List of supported networks and stablecoins](https://help.everstrike.io/en/articles/10127802-supported-networks-and-stablecoins)
[Testnet ETH](https://help.everstrike.io/en/articles/10389554-testnet-eth)
### Testnet warning
IMPORTANT: Like all networks on Everstrike Testnet, Arbitrum Sepolia is a test network. Real funds should never be sent to any address or smart contract on Everstrike Testnet. If you do happen to send real funds to a deposit address or smart contract on Everstrike Testnet, please [contact us](https://help.everstrike.io/en/articles/10187523-contact-us). We cannot guarantee recovery, but will do our best to assist in the recovery process.
# Introducing: The Everstrike Liquidity Incentive Program
$100k per month distributed to top liquidity providers.
Payment dispersed in evUSD.
Why?
* Low barrier: We estimate that with just $10,000 per month you can earn $50,000 per month.
* Zero fee trading.
Minimum requirements to be eligible:
* $50,000 maker volume per month.
Distribution algorithm: TBA.
Duration: 12 months.
Launch date: January 2027.
This page will be updated as more information about the program becomes available.
# Everstrike Mainnet Is Live
Trade perpetual futures and perpetual options with real money on the [Everstrike Mainnet](https://app.everstrike.io/app/markets).
The Everstrike Mainnet mimics the Everstrike Testnet 1:1, except for its list of [supported networks](/account/supported-networks-and-stablecoins).
As with the Everstrike Testnet, the liquidity on the Everstrike Mainnet is powered by the [Everstrike Perpetual Vault](/trading/perpetual-vault). The liquidity starts at zero, and grows proportionally with the vault balance.
### Key URLS
Mainnet Frontend App: [https://app.everstrike.io/app](https://app.everstrike.io/app/)
Mainnet REST API endpoint:
Mainnet WSS API endpoint:
API documentation: [https://docs.everstrike.io](https://docs.everstrike.io/)
Technical documentation:
Stats:
Leaderboard:
If you have any feedback or questions regarding the Mainnet, please do not hesitate to [contact us](/account/contact-support).
# Everstrike Mainnet Receives Initial Liquidity
The [Everstrike Mainnet](/announcements/everstrike-mainnet-is-live) has been seeded with an initial liquidity amount of $5M.
This enables traders to engage in live trading in all of Everstrike's 259 markets, with the largest markets ([BTC/USD](https://app.everstrike.io/app/trade?pair=USD_BTC_PERP), [ETH/USD](https://app.everstrike.io/app/trade?pair=USD_ETH_PERP), [SOL/USD](https://app.everstrike.io/app/trade?pair=USD_SOL_PERP)) currently supporting order quantities of $50,000 and greater.
The liquidity is powered by the [Everstrike Perpetual Vault](/trading/perpetual-vault).
Additionally, two new incentive programs have been launched:
* [The Everstrike Liquidity Incentive Program](/announcements/introducing-the-everstrike-liquidity-incentive-program)
* [The Everstrike Bonus Program](/account/trading-bonus)
### **Liquidity Distribution**
Liquidity is distributed based on a pro-rata algorithm that favors larger markets (BTC/USD, ETH/USD, SOL/USD) over mid-sized and smaller markets. Options and spot receive a proportionally smaller amount of liquidity relative to futures.
### **Liquidity Provisioning**
As with the Everstrike Testnet, the bulk of the liquidity on the Everstrike Mainnet is provided by the [Everstrike Perpetual Vault](/trading/perpetual-vault).
It is also possible for traders to individually add liquidity to the Everstrike Mainnet, by interacting with the [Everstrike API](https://docs.everstrike.io), or by placing limit orders manually through the [Everstrike Frontend.](https://app.everstrike.io/app)
[The Everstrike Liquidity Incentive Program](/announcements/introducing-the-everstrike-liquidity-incentive-program) incentivizes traders to partake in liquidity provisioning on the Everstrike Mainnet.
### Timeline
March 2025 - The Everstrike Mainnet is launched.
July 2025 - The Everstrike Mainnet receives initial liquidity of $5M.
November 2026 - Trading fees are introduced on the Everstrike Mainnet. The fee schedule will follow a standard [maker-taker](https://www.investopedia.com/articles/active-trading/042414/what-makertaker-fees-mean-you.asp)-based model, favoring liquidity providers over liquidity takers.
January 2027 - [The Everstrike Liquidity Incentive Program](/announcements/introducing-the-everstrike-liquidity-incentive-program) begins.
# Everstrike Mainnet Reaches 10,000 Unique Users
The Everstrike Mainnet has reached two major milestones this week:
* 10,000 cumulative unique users.
* $1M cumulative trading volume.
Here are some statistics from the Mainnet (as of July 27 2025):
* Unique users: 13,265
* Cumulative trading volume: $1.4M
* Cumulative trades: 32.9k
* Open interest: $32.5k
* evUSD supply: $14.9k
* Average trade size: $42.5
View the full set of statistics [here](https://app.everstrike.io/app/statistics).