LEVERAGE

Pick an asset, a side, and how much conviction you are willing to be liquidated over.

OPENING A POSITION

Entry happens on the arena card: asset (ETH in the alpha; the price feed already tracks BTC and SOL), direction (long or short), stake (a stock token and an amount), and a continuous leverage slider: any value from 1x up to the live cap, not a row of preset pills.

Your notional is fixed at entry: stake x leverage, with the stake valued in dollars when you enter. There is no loan and no lender behind it, which is why there is no funding rate quietly bleeding you: see Economics for who actually pays whom.

THE CROWD CAPS YOU

Because every winner is paid by actual losers, your maximum leverage depends on how much opposing notional exists in your asset's pool. An empty opposite side means nothing to win and a hard cap near 1x; a deep opposite side opens the throttle. The entry card shows the live cap moving as the crowd shifts, before you commit.

SIGNED BY YOUR WALLET

Opening a position signs a human-readable commitment with your wallet: asset, direction, leverage, stake token and amount, chain and a one-time nonce. The server verifies the signature, the freshness window and the nonce before your cell exists. Replays fail; nobody can open a position as you. You sign once per session: respawns skip the popup.

LIQUIDATION PRICE, HEAT, DEATH

Your liquidation price derives from your entry, your leverage and your floor (5% of your stake), and it is shown on your HUD from the second the position opens. As the tape moves against you, your equity drains tick by tick and your heat rises: at heat 1.0 you are at the liquidation line. The heat zone grants escalating speed and mass-gain bonuses: the game arms you precisely when you are closest to dying, and paints your aura so everyone else knows it too.

Death comes three ways: your equity falls to your floor on the tape (what is left is the liquidation fee), a bigger cell eats you, or a liquidation cascade catches you in the red zone. In all three cases the outcome is public, immediate, and someone else's gain.