Solque Docs
Long or short any Solana memecoin with up to 10x leverage. Positions, settlement and payouts all live in an on-chain program.
Overview
On most platforms you can only make money on a memecoin when it goes up. Solque gives every memecoin a second side: you can short it.
- Any coin. Paste a contract or pick from the market list. pump.fun bonding curves, PumpSwap, Raydium and Meteora pools are supported.
- Both directions. Long or short with 2x, 5x or 10x leverage.
- Pool-settled. The other side of every trade is a shared SOL pool. There is no order book and no counterparty to wait for.
- Fully on-chain. No server keeps the books or signs withdrawals. Your funds sit in the program and only you can withdraw them.
Getting started
- Connect a wallet. Phantom, Solflare, Backpack or any Solana wallet.
- Deposit SOL into your vault. Deposits and withdrawals are free. You can withdraw at any time, only to your own wallet, without any approval from us.
- Pick a coin. Search by ticker or paste a contract address.
- Open a position. Choose a side, a size and leverage.
Want to try first? Open the app without a wallet to paper trade with live prices.
Public beta
Solque is in public beta. The program runs on Solana devnet, so every trade, deposit and payout uses test SOL with no real value. Prices are live: they come from each coin's main pool on mainnet.
- Switch your wallet to Devnet. In Phantom: Settings → Developer Settings → Testnet Mode, then pick Solana Devnet.
- Get test SOL at faucet.solana.com.
- Connect in the app, deposit into your vault and trade.
During the beta, prices are posted to the program by a price bot. On mainnet the program will read them directly from each coin's pool, as described in Price feed. The beta program is not audited yet. The audit comes before mainnet.
Beta program ID: BZ115dUPP92Pb7QWjqQpMaFAQXLb5saktNTzKN5wHynP
Opening a position
Choose Long if you think the price will go up, or Short if you think it will go down. Set your collateral and leverage, and optionally a take profit and a stop loss.
Your position size is collateral × leverage. The trade fills instantly against the pool. The price is read directly from the coin's own pool on-chain.
One-click trading
Sign a session key once and trade for 24 hours without a wallet pop-up on every order. You can revoke it at any time.
Price feed
Solque does not use an off-chain oracle for memecoins. The program reads the price directly from the coin's own liquidity pool on every action.
| Venue | How the price is read |
|---|---|
| pump.fun bonding curve | from the curve's virtual SOL and token reserves |
| PumpSwap | from pool reserves |
| Raydium | from pool reserves or the active price for concentrated pools |
| Meteora | from the active bin or pool reserves |
If a coin migrates from the bonding curve to a DEX pool, the market follows it to the new pool. Open positions stay open.
Execution uses the worse of two prices for the trader: the current spot price and the 30-second time-weighted average. See Safety.
Leverage
Maximum leverage depends on how much liquidity the coin's pool has. Thin pools are easier to move, so they get less leverage. Leverage tiers are re-checked when you open a position. If a coin's liquidity drops later, your open position keeps its leverage, but new positions get the lower tier.
| Coin pool liquidity | Max leverage |
|---|---|
| 500 SOL and more | 10x |
| 150 SOL and more | 5x |
| 40 SOL and more | 2x |
Early markets
The most interesting hours of a memecoin are its first ones. A coin opens for trading on Solque from $10K market cap and 50 holders, with 2x leverage only and a small size limit per coin.
PnL math
All profit and loss is settled in SOL.
long PnL = size × (exit − entry) / entry
short PnL = size × (entry − exit) / entry
payout = collateral + PnL − fees
Liquidation price
A position is liquidated when its loss reaches 90% of collateral, which is a price move of 90% / leverage against you.
| Leverage | Long is liquidated at | Short is liquidated at |
|---|---|---|
| 2x | −45% | +45% |
| 5x | −18% | +18% |
| 10x | −9% | +9% |
Holding fees reduce your margin over time, so the real liquidation price slowly moves closer. The app always shows the current one.
Payouts and liquidation
- Max win: up to +500% of your collateral, capped at 1% of the pool per trade. The bigger the pool, the bigger the possible win.
- Liquidation: at −90% of your collateral. The remaining 10% goes to the liquidator and the pool.
- No debt: you can never lose more than your collateral.
Illustration only, not a forecast.
Take profit and stop loss
- Set them when opening a position or add them later. Both are optional.
- They are stored on-chain with your position and executed by keepers, not by our server.
- A level triggers only after two price reads in a row past it. A single spike will not close you.
- Fills happen at the price at execution time, not exactly at your level. In fast markets the fill can be worse than the level.
- Take profit can't be set above the max win cap. If your profit hits the cap, the position closes automatically.
Fees
| What | Fee |
|---|---|
| Open | 0.15% of position size |
| Close | 0.15% of position size |
| On profit | 0% |
| Holding | first 4 hours free, then 0.02% of position size per hour |
| Deposit and withdrawal | free |
$SOLQUE holders get a fee discount: 25% from 1M tokens, 50% from 5M tokens.
Fees are charged on position size, not on collateral. A 1 SOL position at 10x pays 0.15% of 10 SOL, which is 0.015 SOL to open.
| Round trip at | Fee as % of collateral |
|---|---|
| 2x | 0.6% |
| 5x | 1.5% |
| 10x | 3% |
Liquidated positions pay no closing fee. The remaining 10% of collateral is split between the keeper and the pool.
Liquidity pool
Anyone can add SOL to the pool and receive LP shares. The pool takes losing positions, pays winning ones and earns most of the trading fees.
- LP withdrawals have a 24-hour delay, so nobody can leave right before a large payout.
- The pool earns when traders lose on average and loses when they win on average. Providing liquidity carries real risk.
Where LP returns come from
- 60% of all trading fees.
- Collateral of losing and liquidated positions.
- Minus payouts to winning positions.
How the pool limits its risk
- A single trade can win at most 1% of the pool.
- Open interest is capped per coin and in total, as a share of the pool.
- Long and short open interest on the same coin offset each other, so the pool is only exposed to the difference.
- If the pool loses more than 10% in an hour, new positions pause until it stabilises. Closing is never paused.
LP share value = pool SOL ÷ total LP shares. It goes up with fees and trader losses, and down with trader wins.
Safety and protections
- Fair price. Trades fill at the worse of two prices for the trader: the current price and the 30-second average. A one-second pump cannot be farmed.
- Double read. Stop loss, take profit and liquidations trigger only after two price reads in a row past the level.
- Rug guard. If a coin drops 80% within seconds, all shorts on it close in profit, capped at +20% of collateral, and the coin is paused for one hour.
- Limits. Open interest is capped per coin and for the whole pool. If the pool loses more than 10% in an hour, new trades pause.
- Insider block. Wallets linked to a coin's deployer or its large holders cannot trade that coin.
- Fresh wallets. Wallets younger than 24 hours cannot trade.
Keepers
Liquidations, take profits and stop losses are executed by keeper bots. Anyone can run a keeper and earn a small reward for every execution. If our own keeper goes down, positions still get closed.
- Keepers can only trigger an action the program already allows. They can't change prices, sizes or payouts.
- The first valid transaction wins the reward. The rest fail at no cost to traders.
- Keeper source code and setup guide will be public at launch.
$SOLQUE token
Staking $SOLQUE makes you a co-owner of the house: you earn a share of protocol fees in SOL.
| Fees go to | Share | Why |
|---|---|---|
| Liquidity pool | 60% | The pool grows, so limits and max wins grow |
| $SOLQUE stakers | 20% | Real yield in SOL |
| Buyback and burn | 10% | Supply only goes down |
| Treasury | 10% | Infrastructure, referrals, contests |
Referrers earn 10% of the fees of traders they bring in, paid from the treasury share.
The token contract address will be published here and on @usesolque at launch. Any other address is fake.
Security
What the team can't do
- Withdraw or move user deposits.
- Block your withdrawal. Withdrawals need only your signature.
- Change the price used for your position or edit your position.
- Pause closing or withdrawals. Only opening new positions can pause, under the rules above.
What the team can do
- List or delist coins and adjust per-coin limits within hard caps set in the program.
- Change fees within hard caps set in the program.
- Upgrade the program through a multisig with a public timelock, so every change is visible before it applies.
The program will be audited before mainnet. The audit report, program ID and multisig address will be published here.
Glossary
| Collateral | SOL you put into a position. Max loss. |
| Leverage | How many times your exposure exceeds your collateral. |
| Position size | Collateral × leverage. Fees are charged on this. |
| Long | Profit when the price goes up. |
| Short | Profit when the price goes down. |
| Liquidation | Forced close when loss reaches 90% of collateral. |
| Open interest | Total size of all open positions. |
| LP | Liquidity provider: deposits SOL into the pool that takes the other side of trades. |
| Keeper | A bot that executes liquidations, take profits and stop losses for a reward. |
| Rug | A sudden collapse of a coin, usually when the dev or insiders dump or pull liquidity. |
Risks
- Leverage is risky. A small move against you can liquidate most of your collateral.
- Memecoins are volatile and thin. Prices can move sharply and be manipulated. Protections make this expensive, not impossible.
- Pool risk. Liquidity providers can lose SOL if traders win on average.
- Smart contract risk. The program will be audited before mainnet, but no audit removes all risk.
- Regional restrictions. Leveraged trading is regulated in many countries. Solque will not be available in the United States and other restricted regions.
Nothing here is financial advice. Only trade what you can afford to lose.
FAQ
How can I short a memecoin with no lending market?
You do not borrow the coin. Solque tracks its price and settles your profit or loss in SOL against the pool.
Who holds my funds?
The on-chain program. Withdrawals go only to your own wallet and need no signature from us.
What happens if a coin rugs?
Rug guard closes all shorts on that coin in profit, capped at +20% of collateral, and pauses the coin for an hour.
When do I get liquidated?
When your loss reaches 90% of your collateral. Your liquidation price is shown before you open the position.
Is there a token?
Yes, $SOLQUE. It is not launched yet. Never trust a contract address that is not posted by @usesolque.