engine
liquidation and max payout, explained
the two numbers on every ticket that bound what a position can do.
the short version
the treasury is the counterparty to every position, so both sides of the outcome have to be bounded before you sign.
liquidation
the liquidation price is computed at open from your entry and leverage, and checked on every mark tick. your loss never exceeds your margin.
“every position carries an explicit max payout.”
it is shown on the ticket before you sign, not after.
how max payout is set
at open, the profit cap is:
ten times your margin at most
never more than the treasury's free liquidity
rechecked under a lock when the order lands
reached, the position closes
free liquidity is treasury usdg minus user balances and open max payouts.
fees
0.05 percent of position size is charged when you open and again when you close.
in short
loss floors at your margin, profit caps at max payout, and both are on the ticket.
