How DRAFT works

Short pages on pricing, settlement, liquidations, the house and its payout queue, the token and staking. Numbers marked SAMPLE are proposed defaults that may change before launch; BY DESIGN marks fixed choices.

Trading and pricing
What a position is, which limits apply, and how a price is chosen after you commit.
Wins, losses and fees
How a close is settled: losses in full, wins after a small deadband, the impact haircut and the 2% fee.
Liquidations
The bust price, when it triggers and what is lost.
The house and the payout queue
Where winnings come from, why the house can owe money for a while, and how the queue is paid.
DRAFT: emissions and vesting
How DRAFT is earned from losses, the emission curve, claiming and the 7-day vest.
Staking
Stake DRAFT to earn USDC from fees and house surplus.
Deposits and withdrawals
Moving USDC in and out.
One-click trading
A short-lived browser key that can trade for you but can never move funds.
Risks
Read this before trading.
Addresses
Program ids, the token mint, the oracle and credits.