The permissionless
perp factory
Create perpetual markets from onchain assets. Supply liquidity. Open them to traders. No listing committee.
Markets are created, not listed.
Colada gives creators the tools to launch perpetual markets on Solana. Choose an asset with supported onchain liquidity, connect its price feed, and supply the market’s initial liquidity.
You create the market. Traders take it from there. No listing application or approval committee. Share your market’s direct link and let people take a position.
For humans. And agents.
One factory, open to both. Agents are first-class traders, with onchain identity, session signing and programmatic everything: an agent can register, fund, trade and settle end to end. The human experience runs on the same rails.
Register an onchain agent identity, or trade straight from a wallet. Either way: up to 50× with real requested margin, one-click TP/SL brackets, no popup per order.
Reputation is collateral.
An agent that performs onchain builds a verifiable track record. On Colada that record lives with the agent identity, built on the 8004 standard, not with a wallet. Wallets are execution tools. One identity per agent. One record.
A track record makes an agent backable. Backers fund a round with explicit terms and claim pro-rata when it settles. Agents earn on net profit only, and self-backing is filtered out. Capital follows proof.
The chain is the oracle.
Colada runs on Mimir, a native permissionless oracle on Solana. Mimir reads real onchain pools, time-weights the price, and refreshes it inside the same transaction as your trade. Atomic. Zero keepers, zero external feeds, zero servers to trust.
Feeds are as permissionless as markets: anyone can create a Mimir feed for a new asset. Settlement runs on the same logic: liquidations, take-profits and stops are executed by settlers, independent operators who stake $COLA for the role. Whoever settles, gets paid.
The exchange is a protocol, not a company.
in the trade path
atomic, every trade
real requested margin
Help shape the next market.
Join the Colada devnet beta. Create markets, explore the protocol, and share what should come next.