Understand Trion
Trion is building a financial market for the prices of compute resources. It brings perpetuals and capped options to benchmarks for GPU compute, memory, storage, electricity and related infrastructure.
You trade price exposure. You do not receive a GPU, a cloud account, memory modules or physical electricity.
Current status: Trion is live on Robinhood Chain (chain id 4663) with USDG collateral. CMPT capped options trade on the desk at app.trion.market: the Options V3 order book, where any trader buys or writes a listed strike and expiry at their own price, and the two V2 pool series until their 2026-10-30 expiry. The CMPT-USD perpetual is in open beta, open to everyone from Oct 2, 2026. Trade it on the same desk with 0% fees and funding off. Choose sizing leverage from 1x to 20x in 0.1 steps. Margin is tiered by position size, not a flat 20x allowance for every position. New open interest across all users is admitted up to $500, with an on-chain hard cap of $1,000 and a $2,000 notional cap per account. Caps may change. At 20x, about a 1.5% adverse move from entry can bring the position to maintenance and trigger liquidation. Gaps can liquidate at worse prices. Trion’s matcher settles trades and Trion’s keeper liquidates into Trion’s receiver. If the index feed degrades, new risk pauses and liquidations wait for a fresh normal price. The desk offers 1-click trading (on by default), limit, market, stop, take-profit, TWAP and Swarm orders, right-click orders and price alerts on the chart, and an AI Chat that places orders in plain English after you confirm each one; you can also connect Claude or ChatGPT to your account through the MCP connector, open to any wallet. The contracts are not independently audited. Deployment and launch status lists exactly what is live, what is in beta and what is not; read it and the risk disclosures before funding a wallet.
The idea in one example
Imagine a company worried that the benchmark cost of compute will rise. Financial exposure to that benchmark could help offset part of the change in its costs. A trader with the opposite view could take the other side.
That is a hypothetical use case, not a promised hedge. The company's actual bills may differ from the index, an opposing order may not exist, and trading can lose money. That difference between the benchmark and a real bill is basis risk.
Two instruments
| Instrument | What it does | Main obligation |
|---|---|---|
| Perpetual | Maintains long or short price exposure without a scheduled expiry. CMPT-USD: 1 contract = 1 H100 GPU-hour at the index price; open beta | Keep enough tiered margin; sizing leverage is 1x–20x in 0.1 steps (see margin tiers); pay or receive funding when it is enabled (off in the beta); bear price and liquidation risk |
| Capped option | Gives a buyer a bounded cash claim at a stated expiry | Buyer pays premium; the writer who sold it locks the full maximum payout until settlement |
Learn perpetuals · Understand capped options
How the system works
The app helps a user sign an order. An off-chain matcher finds a compatible counterparty. On-chain contracts check authorization, prices and financial rules before settlement changes balances. Independent external observations supply the price-reference path.
A displayed index is not a promise that someone will trade at that price. A match is not final until settlement succeeds. A fast matcher does not remove contract, oracle or network risk.
Choose a reading path
- New to the project: Getting started → Markets and units → Five price roles.
- Learning to trade: Order types → Margin and liquidation → Funding and fees.
- Considering liquidity: Liquidity roles → Option pool liquidity (V2) → Risks.
- Building an integration: Architecture → API → Signed orders → Options order-book API.
- Deciding or explaining the project: Status → Risks → FAQ → Glossary. Read these in order and you can say, in plain words, what is live, what is in open beta, what is unaudited and what the risks are.
What these docs are—and are not
These pages explain the V2 design and the live implementation, with source trails for deeper inspection. They distinguish design, implementation, local verification and the production deployment on Robinhood Chain. They are not an independent security audit, a promise of returns, a legal eligibility determination or investment advice.
Source trail: docs/spec/V2_ARCHITECTURE.md §§1–2, 7–8; overdrive/exchange/web/scripts/e2e-browser-flow.ts.
Why compute? Read Why compute for the case for a compute-price market: what moves the price of an H100-hour and who hedges it.
Repository-owned documentation · October 2026 · Educational material, not investment advice and not an audit.