TradFi markets that never close, mapped on Solana.
Circadia is a coordination layer for RWA perpetual markets: a public market map, a risk-banded listing registry, and an intent path to existing venues. Distinct from vault products: this is the continuous trading window.
If TradFi exposure migrates as perps, Solana needs a public face for it.
Spot tokenized equities settle ownership-shaped exposure. Traders increasingly want levered, weekend-open, non-expiring exposure. Liquidity and listings for those markets are fragmented. Circadia ships the map, the registry, and the fee claim, without pretending to be a broker, issuer, or live CLOB on day one.
-
01
Fragmented RWA-perp surface Venues and listings are scattered across chains. Solana users lack a single honest "what's live, what's risky, what's next" surface.
-
02
Weekend basis & oracle quality 24/7 marks diverge from cash equities when TradFi is closed. Basis and staleness need to be surfaced, not papered over.
-
03
Fee narrative without TVL theater Protocol fees from Circadia modules flow to stakers and buy + burn. Fees scale with real usage. No invented volume.
Map / Registry / Intent
Progressive product. Each layer is honest about what it is and what it is not.
Market Map
Public tracker of RWA-perp venues, OI/volume snapshots, funding and weekend-basis notes. Research desk, not a brokerage.
Listing Registry
Market metadata: market ID, oracle source, venue, risk band, status (watch / listed / deprecated). Onchain or signed attestations.
Intent Route
Future integrations that route order intents to existing Solana / partner perp venues. Read-only quotes first; non-custodial redirect later.
70% protocol buy + burn. 30% to stakers.
Protocol fees from Circadia modules (listing, registry, routing as they come online) flow through a live fee-share plan from day one. Not deferred. Not gated behind a future switch.
$CRCD fee split
Applies to Circadia protocol fees only: not third-party venue revenue, not pump.fun trading fees.
Fees scale with real product usage. Early days may be light until map / registry / router earn fees. Burns and staker distributions are documented when they happen, never backfilled.
What this is
- Market buy of $CRCD from the 70% share, then burn
- Staking rewards from the 30% staker share when fees exist
- Governance signal on listings and risk-band parameters
What this is not
- A claim on TradFi dividends or stock cash flows
- A claim on Hyperliquid or any third-party venue's revenue
- Guaranteed yield or fabricated fee theater
$CRCD: governance + live fee share
Utility path is stake, burn, and signal. Price is not progress.
| Utility | What it does | Boundary |
|---|---|---|
| Stake | Earn the 30% staker share of protocol fees when fees exist. | No claim on TradFi dividends. |
| Buy + burn | 70% of protocol fees continuously buy $CRCD on market and burn it. | Protocol fees only. |
| Listing votes | Stakers / holders signal which equity, commodity, or index markets enter the registry. | Non-binding until onchain votes ship. |
| Risk bands | Vote ranges for leverage labels, oracle staleness flags, weekend-basis warning thresholds. | Parameters, not price targets. |
30 / 60 / 90 · labeled PLAN
Missed dates slip publicly. Never backfill fake milestones.
Map
- Landing + docs stub (project brand only)
- v0 Market Map: curated RWA-perp venues / sample markets
- Weekly Basis Note (educational)
- Public listing-request form
Registry
- Listing Registry v0 (metadata, oracle tag, risk band)
- CRCD snapshot signaling for first listing batch
- Router research brief (no integration claimed until built)
Route
- Intent router prototype to 1-2 venues (quotes first)
- Wire fee hooks into live 70/30 splitter
- Fee dashboard: fees in to staker share vs burn tx links
Read before you interact
Experimental software and a public brand. Not investment advice.
Regulatory
Perps and RWA exposure products are heavily restricted in many jurisdictions. Circadia is map / registry first. Geo and eligibility disclaimers apply. No solicitation of restricted persons.
Oracle & weekend basis
24/7 marks diverge from cash equities when TradFi is closed. Synthetic marks are not "the stock price." Risk bands surface divergence explicitly.
Venue concentration
Most RWA-perp volume sits off-Solana today. Circadia maps Solana-first without claiming parity with Hyperliquid liquidity.
Execution & contract risk
Any future router inherits venue and program risk. No unaudited "live trading" claims. Progressive rollout only.
Narrative bleed
Not a fake perp DEX. Not a vault APY product. Vocabulary stays: map, registry, intent, live fee share (stake + buy & burn).
Token market
Launch liquidity is thin. Price is not product progress. Small seed. No TVL vanity metrics. Roadmap labeled plan.
Straight answers
Is the fee switch live?
Is Circadia a perp DEX?
Does $CRCD claim TradFi dividends?
How is this different from a vault product?
Are there audited contracts / live TVL?
Follow the desk
Updates on map, registry, and live fee share. Project brand only.