ONE PERP SYSTEM. MULTIPLE COUNTERPARTY CLASSES.
Robinhood Punch combines one position engine with a permanent Core Pool and modular dKLP and KLP classes. The common rule is shared arithmetic, isolated solvency: each class owns its custody, capital, risk, fees, rewards, and payout promise. Punch also runs a live basket-backed KLP on Flow EVM.
WHAT IS PUNCH?
Punch is an oracle-priced perpetual system with outcome-weighted PUNCH rewards. Rewards are capped incentives, not insurance or settlement collateral. Win, realized-loss, and liquidation outcomes can carry different class-local weights, but every schedule remains subject to finite budgets and a non-profitable-manufacture condition.
A trader chooses a market and a counterparty class. The Core Pool uses endogenous loss-built capital and may defer profit through senior FIFO. A modular KLP uses external LP capital and admits only profit promises it can settle immediately. The classes never share solvency.
THE PRODUCT MAP
CORE POOL · ENDOGENOUS CAPITAL
Permanent non-depositor class. Realized losses capitalize an isolated pool; surviving margin returns first; profit settles immediately when liquid or through senior FIFO.
dKLP · EMERGING LP CLASS
Optional stable-asset vault for priceable young markets. Immediate capped profit settlement, checkpointed NAV, and asynchronous LP exits—isolated from every other class.
KLP · MAJORS LP CLASS
Optional stable-asset vault for reviewed major markets. Same LP settlement design as dKLP, separate vault, risk, fees, rewards, and lifecycle.
PUNCH & MARKET FORMATION
PUNCH is the capped incentive rail under the anti-manufacture bound. Emerging markets earn eligibility through asset-level priceability facts—not venue brand.
CHAIN DOMAINS
ROBINHOOD PUNCH · CHAIN ID 4663
FLOW EVM · CHAIN ID 747
READ THE DOCS
TRADING
Markets, leverage, fees, oracle parameters, and how orders execute on Punch.
LOSE-TO-EARN
Outcome-weighted trading rewards: class-local weights, hard budgets, anti-farming, PUNCH20, and cohort-delayed sPUNCH feedback.
KLP LIQUIDITY
Flow KLP plus Robinhood's optional modular KLP classes: independent capital, NAV, settlement promises, and LP risk.
PUNCH TOKEN
The one-billion PUNCH hard cap, PUNCH20 voucher, bounded user incentives, sPUNCH staking, and cross-domain supply invariant.
CHAINS & CONTRACTS
Chain domains, contract addresses, token configuration, and oracle parameters.
ARCHITECTURE
The Robinhood Chain design: one engine, the permanent Core Pool, modular dKLP/KLP classes, and no shared solvency.
DESIGN SEQUENCE
The economic sequence from endogenous Core Pool capital to independently viable modular KLP classes.
RISK & DISCLOSURES
Trading risk, LP risk, oracle and execution path, and access restrictions.