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Rekt runs two products on Solana: Knockout, described on this page, and Minute, a timed round built on Knockout that you cannot close early. Knockout is a leveraged product on Solana with two hard limits. A barrier that ends your position if the price reaches it, and a cap on the most it can pay. You stake a small, fixed amount, choose a direction and a target, and the position resolves — quickly, and by rules that were fixed the moment you opened it. It is not a perpetual. There is no funding, no margin call and no partial liquidation. There is a barrier below you and a target above you. A win that the pool cannot pay in full at once is paid in order, from a queue: see how a win is paid. A governed borrow fee on the time you hold is taken out of the payout, never out of your equity, so it never moves the price that ends your position. Fees and limits has the rate in force.

How the product works

Direction, stake, rung, barrier, tenor — and the four ways a position ends.

The venue

What the program does: admission and the queue, the pricing path, the bounds on loss and payout.

Fees and limits

What a trade costs, the stake and leverage limits, the hours, the minimum hold and how a win is paid. Dated, and they can change.

Build on it

A bot that quotes, opens and closes in one file. The SDK reads state, predicts every refusal before you send, and prices every close. It is not public yet.

Orders and closes

An open is an order that the venue’s next price fills, and a close is a request anyone completes. The rules a client or a bot builds against.

The liquidity pool

One shared pool takes the other side of every position and funds every win. How a win is paid, how the pool is read, and how it loses money. Deposits are closed.

Markets

BTC, ETH, SOL and XRP around the clock, and gold in its own sessions.

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Where it is running

The facts API is a lagging mirror and answers no live question. There is no RPC endpoint in that process. Pool size, open positions, the current price, whether a trade would be admitted — none of those routes exist. Read live state from the chain through the SDK; read history from the API. Every response carries asOf and says stale: true when the archive has stopped advancing, because a dead indexer must never read as a quiet venue.

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A trade, in one paragraph

You pick an asset — BTC, ETH, SOL, XRP or gold (XAU/USD) — and a direction. You stake between 0.20and0.20 and 1,000. You pick a rung — a take-profit target of at least 2.00x your stake. Leverage is 1000x on every market. Your open is an order: the stake is taken when it lands, and the venue’s next price after a short delay sets your entry. If no price comes in time, the order is returned and the whole stake comes back. From there the position ends at its barrier, at its target or when you close it. It has no protocol clock: it stays open until one of those happens, or until the timer you chose runs out. Opening is free, and a close pays an exit fee, higher on a loss than on a win. On a gain the terms also withhold part of the gain, a smaller share for a smaller win. The numbers, with the date they were read, are on Fees and limits. BTC, ETH, SOL and XRP trade around the clock. Gold trades in sessions, and a gold position’s tenor ends before its session closes. See markets.

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How a win is paid

Opening a position takes your stake and nothing else. The venue decides at the fill whether the position fits, against a rule the program applies per market and in total; an order that does not fit is returned with your whole stake and no fee. A win is paid in full. Part of it may be paid later, in order. There is no guaranteed time. The amount queued ahead of you is shown. At a close your stake comes back at once, and the profit is paid from the pool’s free cash; whatever the pool cannot pay yet joins a queue and is paid first in, first out. When the line is nearly full, a second unpaid win of the same account waits behind its first. The payout cap, config.params.payoutCapMultiple, is the largest multiple the program lets a target take. How a win is paid has the rule in full.
The program never writes down an amount it owes: it is paid in full or stays owed.

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What you are actually buying

Honest framing first, because it is the part that decides whether this product is for you:
  • The barrier is close, and it is meant to be. High leverage means a small, ordinary move ends the position — that is the mechanism working, not a malfunction. Price and size every trade as though reaching it is normal, not a surprise.
  • At the barrier you receive nothing. Not a residue you can watch drain — the position is over and the stake is gone. Literally nothing: even the rounding crumb the arithmetic leaves behind goes to the pool.
  • You may double down, and it is not a defence. The owner may add collateral to a live position. It averages the entry, so adding while you are ahead moves the barrier toward the live price. Read the table before you offer the control.
  • Your maximum loss is your stake. There is nothing to top up and no way to owe more.
Read the venue before you trade. The risk disclosure follows it.

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Who takes the other side

One shared pool is the counterparty to every position, and it earns the fees. It also funds every win — so the pool’s returns are real, and so are its losses. Deposits to the pool are closed. See providing liquidity.

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Everything is on chain, and readable

Every fee, bound and delay that governs your money lives in accounts you can read yourself, and they are governed — they can be changed by the protocol’s authority, on chain, in public. That is why this documentation prefers to tell you where a number lives rather than to print it. The SDK reads the live values; a page of typed constants goes stale the first time governance moves one.
Knockout is early software. It has not been audited by a third party. Trade only with money you can afford to lose entirely. Read the risk disclosure.