How to trade Trion — the short version

Trion lists capped options on compute: fully collateralized calls and puts on the CMPT index (USD per H100 GPU-hour), settled in USDG on Robinhood Chain. This short version covers the V2 pool desk, live until its 2026-10-30 expiry; the V3 order book, where you buy or write any listed strike and expiry at your own price, is on the Options page. The CMPT-USD perpetual is in open beta (see the end). Three things you can do here: buy an option, sell one you own, or write by backing the sleeve.

1. Buy a call or put

Quote and buy CMPT calls

Pick a contract tile — green CALL pays if the index settles above the strike (up to the cap), red PUT pays if it settles below (down to the floor). Type a size in CT; the quote refreshes as you type with premium, ask per contract, max payout and breakeven. Max total premium is prefilled at quote + 1%. Press Buy, approve USDG, confirm. Your premium is the most you can lose.

2. Sell one you own

Sell into the pool

Open Swap, choose Sell options for quote, enter CT and the minimum USDG per contract you'll accept. Preview walks the pool's bins and shows proceeds; Swap executes at 99% of that estimate or better. The ladder shows depth: red = contracts offered, green = USDG bidding. No green, no buyer — nothing is submitted.

3. Write — back the sleeve

Deposit into the writer sleeve

Open Writer, enter USDG, Approve and deposit. You receive FLAT shares. Writers collect every premium buyers pay and owe the capped payouts at expiry. Capital is at risk and stays locked while exposure is open; redeem free capital with your shares once it is released.

4. Settlement you can audit

Fixing → challenge → final → claim

Trading closes 24 hours before expiry. Over that last 24 hours the oracle computes the fixing: the time-weighted average of the published CMPT index, sampled every five minutes, every observation hashed and archived. The relayer posts it with a 100 USDG bond; anyone has 24 hours to challenge it with a 50 USDG bond and a public claim. A five-seat council resolves disputes (3 of 5). Unchallenged fixings finalize after 24 hours. Then Settle locks the payout and Claim pays your wallet.

Know the risks

Buyers can lose the whole premium. Writers can lose their capital. The pool only buys what someone bid for. Fixings can be challenged or delayed. Governance and the council are held by Trion at launch.

Perpetual: open beta

The CMPT-USD perpetual (1 contract = 1 H100 GPU-hour, 1x–20x sizing leverage in 0.1 steps, with tiered margin, 0% fees, funding off) is in open beta, open to everyone from Oct 2, 2026 at app.trion.market. 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. See Margin and liquidation for the marginal tiers. If the index feed degrades, new risk pauses and liquidations wait for a fresh normal price. Traders get 1-click trading (on by default), limit / market / stop / take-profit / TWAP / Swarm orders, right-click orders and price alerts on the chart, and AI Chat: sign in with your own OpenRouter account and place orders in plain English, each one sent only after you click Confirm. Trion clears trades and runs liquidations in the beta; profits and losses are real.

Trade at app.trion.market · full guide at trion.market/docs/how-to-trade

Repository-owned documentation · October 2026 · Educational material, not investment advice and not an audit.