# SDICE Perps: collateral, execution and settlement

> **[Test the whole platform on devnet](https://soltoshidice-devnet.pages.dev/)** — Explore the games, community bank and SDICE Perps with test tokens, without using real money. Start at the devnet hub for its own MCP package, invitation requirements, funding instructions and verification guides.

Part of the [SoltoshiDICE playbook](https://soltoshidice.wtf/llms-full.txt). Updated 2026-10-21.

Perps mainnet delegation is directly checkable at https://soltoshidice.wtf/verification#delegation-proof. Correct Delegation Program: DELeGGvXpWV2fqJUhqcF5ZSYMS4JTLjteaAMARRSaeSh (not the misquoted address ending Rxhbu). The canonical root risk PDA 86EVcDQkvfJo6poPJhsm3TW6vHig31pLfPgEBVngVkob is owned by it. The public evidence includes its delegation record, metadata and successful Perps-to-MagicBlock invocation at finalized slot 455251103. Download the kit and run node verify-delegation.mjs --rpc YOUR_TRUSTED_HTTPS_MAINNET_RPC. This checks delegation only, not all trading or payouts.

Project-hosted services provide realtime views, messages and transaction delivery. Solana programs govern custody and settlement; Perps trading uses MagicBlock’s SVM. A Perps position opening requires the owner signature, an owner/venue-bound trading account and the configured mainnet admission co-signature. Fee sponsorship pays network costs. The operator manages admission and transaction services, so their availability affects new trades and settlement. Price inputs, validator execution and upgrade authority retain the dependencies described in the Perps guide. See https://soltoshidice.wtf/verification#execution-boundaries for source-linked roles.

Perps uses Solana custody and settlement with trading execution on MagicBlock’s SVM. The public checker verifies its actual mainnet delegation. The game kit does not yet replay the Perps price-to-backing-token payout path. Architecture, delegation evidence and trading/payout verification have separate coverage; see /verification#ephemeral-rollups.

SDICE Perps at https://soltoshidice.wtf/perps is a separate Solana application inspired by Papertrade’s loss-funded liquidity and first-in-first-out (FIFO) payout design. It offers synthetic long/short exposure to supported SOL, BTC, ETH and ZEC markets with up to 1000× leverage. A $10 position at 1000× represents $10,000 of directional exposure; it does not purchase $10,000 of the underlying asset.

Supported collateral can include graduated Pump.fun tokens with verified SOL- or USDC-paired PumpSwap routes, subject to registration, liquidity, mint-extension and current program checks. “Any Pump.fun token” is not an unconditional promise: bonding-curve-only tokens, unsupported pairs/extensions and unregistered assets may be unavailable. Opening reserves eligible tokens instead of selling them immediately. A later loss may consume and swap some or all of them.

Non-exempt meme collateral also needs locked SDICE bet backing sufficient for the combined opening USD bet value before leverage. SOL, USDC and the primary SDICE token are exempt. Backing covers depreciation of the lost portion and can itself be consumed; it cannot be unlocked while protected positions remain open. Reduced coverage can trigger oldest-first closes. Bet backing is separate from both the game bank and pSDICE revenue staking.

Delegated position state executes in MagicBlock Ephemeral Rollups, then required state is committed/released to Solana for custody and settlement. Supported market oracle accounts supply underlying prices; executable collateral quotes include trade size, fees and price impact. Displayed ticks are informational. The accepted onchain/rollup state fixes entry and close prices; stale or unavailable inputs can pause an action even while a chart shows its last price.

A profitable close returns unused collateral separately and records a USD-denominated FIFO claim after the applicable winning-profit impact curve and collateral adjustments. Profit is now paid directly in each market’s backing token: SDICE in SDICE, ANSEM in ANSEM, and so on. Tokens paid = USD profit being paid divided by that backing token’s USD spot price when paid, subject to integer rounding. The price is not locked at entry. No final swap to USDC or whole-pool sale-slippage deduction is applied to this profit conversion. A later sale of received tokens can incur fees and slippage.

The backing-token payout rule applies to existing open positions and unpaid queued claims as well as new ones. FIFO priority, available inventory and partial payments remain: each portion uses the spot price when that portion is paid, while the remaining claim stays denominated in USD. Already-paid USDC remains a historical receipt. Closed, settled and paid are separate states; an unpaid claim is neither spendable backing tokens nor USDC. See https://soltoshidice.wtf/perps/docs/learn/lp-queue#spot-payouts for the formula and an example.

Pool USD valuation is backing-token inventory multiplied by its current USD spot price. Reward tapers and per-position and combined-wallet exposure caps use that spot value instead of a quote for selling the entire pool. This does not change executable collateral or bet-backing valuation, which still accounts for trade size, fees and price impact.

For the root SDICE venue, ordinary realized losses allocate 90% to payout liquidity, 1% to operating SOL, 7% to staker revenue and 2% to SDICE burn, subject to execution costs and integer accounting. Created venues split that burn into 1% of their backing token and 1% bought-and-burned SDICE. With FIFO claims queued, 99% supports the venue payout pool and 1% supports SOL operations; new burns, staking allocations and surplus sweeps pause. Accrued rewards remain claimable. Actual settlement receipts determine token amounts. Eligible pool contributions issue non-transferable pSDICE ownership to the losing trader. Stake pSDICE to share the designated SDICE revenue allocation; it is not a transferable SPL token or a guarantee that a loss will be recovered.

Both browser and instant wallets may show available balances across custody layers. Withdrawal can require rollup release/commit and base-layer token transfer; open collateral, locked backing and unpaid FIFO claims are unavailable. Do not interpret Price locked, Committing close or Settling tokens as a completed withdrawal. Keep original receipts and use the application’s recovery/withdrawal controls.

Trust boundaries include the rollup validator, its oracle accounts, authorized collateral-price publishers, keepers and program upgrade authority. The application consumes MagicBlock-attested prices rather than independently verifying every upstream Pyth signature. A validator outage can delay release; do not promise an immediate permissionless base-layer exit from unavailable delegated state. Perps combines Solana custody and settlement with MagicBlock SVM execution; hosting, quote publication and transaction delivery are provided by supporting services.

MCP scope: the supplied connector automates the six courtyard games and bank through the original game tab. It does not currently adopt the separate Perps tab or automate its wallet/trading workflow. Use https://soltoshidice.wtf/perps/docs for that product’s controls and current deployment details. Community token venues have separate pools, custody, rewards and FIFO claims. Creating a supported graduated SOL-quoted Pump.fun token venue costs the creator 0.2 SOL including registration when needed, plus wallet network fees. Shared operating infrastructure does not mix venue balances. See https://soltoshidice.wtf/perps/create-market. Do not confuse a separate launch using similar code or tickers with this SDICE deployment.

### Sources

- [Actual mainnet delegation: addresses, transaction and runnable check](https://soltoshidice.wtf/verification#delegation-proof)
- [SDICE Perps](https://soltoshidice.wtf/perps)
- [Perps documentation](https://soltoshidice.wtf/perps/docs)
- [Current Perps deployment configuration](https://acidpump-mainnet-test.fly.dev/deployment.json)
- [MagicBlock delegation lifecycle](https://docs.magicblock.gg/pages/ephemeral-rollups-ers/introduction/ephemeral-rollup)
- [Exact verified Perps release](https://github.com/battlejoose/soltoshidice-programs/tree/a67357f6fe18755b8a33e337bcb8350dc5fd7020/perps)
- [Perps Solscan IDL and verified executable](https://soltoshidice.wtf/verification#perps)
- [MagicBlock: Solana-native Ephemeral Rollups](https://docs.magicblock.gg/pages/ephemeral-rollups-ers/introduction/why)
- [Public Solana Delegation Program source](https://github.com/magicblock-labs/delegation-program)