What are memecoin perps here?
SDICE Perps lets a supported meme token fund leveraged exposure to a separate reference market. You can use an eligible Pump.fun bag for a SOL long or a BTC short without selling the whole bag when the position opens.
The distinction matters: you are not necessarily betting on the meme token’s own price. SOL, BTC, ETH and ZEC are the underlying markets. The token you deposit is collateral, and the venue you choose determines the payout pool and ownership rewards.
Choose the venue, collateral and underlying
- Venue: the SDICE market or an available community token market. Each has separate custody, payout inventory, rewards and FIFO claims.
- Collateral: an asset supported in that venue, such as SOL, USDC, its backing token or another eligible registered token. Check the selector and available backing.
- Underlying: SOL, BTC, ETH or ZEC. Long follows a rising reference price; short follows a falling reference price.
Which Pump.fun tokens work?
Collateral support requires a graduated token with a verified PumpSwap route and supported mint properties. Registration alone does not guarantee sufficient liquidity, an executable quote or capacity for your order. A new venue may also need additional provisioning before accepting collateral added later.
Creating a token-backed market has narrower requirements: its backing token must be a supported graduated Pump.fun token with a SOL-quoted pool. The market creator pays 0.2 SOL including registration when needed; ordinary wallet network fees are separate.
What happens to the bag?
Winning: eligible collateral is released and profit becomes a USD-denominated claim. The winning-profit impact curve and collateral adjustment affect the final amount. USDC payment follows the venue’s oldest-first queue and available liquidity.
Losing: the contract consumes the required collateral and, where applicable, backing. Settlement supports that venue’s pool and ownership accounting. Liquidation can forfeit the full margin. Keeping tokens locked at entry is not protection against a later loss.
A simple example with the right units
Suppose the accepted entry value is $10 and you select 100× SOL exposure. The nominal position is $1,000. A favorable 0.1% market move produces $1 of raw market PnL before the winning-profit curve, collateral adjustments and rounding. It does not guarantee a $1 immediately withdrawable payment.
A $10 headline token balance may support less than $10 of entry value if selling that quantity would incur price impact. The accepted executable quote and the actual liquidation price matter more than a token ticker or a screenshot.
Try the flow before using mainnet funds
Read the collateral and settlement guides, choose an available venue, inspect supported assets, then use the wallet and trading controls. A token’s branding is not an endorsement or proof of liquidity.
The devnet agent hub provides an isolated test environment and browser MCP instructions. Its assets and outcomes are test-network data, not mainnet balances.