Welcome to the official docs for PRINT3R. These docs will be dynamically and continuously edited as the PRINT3R Product Suite evolves over time.
PRINT3R is a DeFi protocol designed to offer lightning-fast perpetual futures markets on Solana for long-tail assets. PRINT3R is the first perpetual futures / DeFi protocol to launch on top of DAOS.FUN.
Existing perpetual futures face a few key problems that prevent them from being able to list longer-tail, more volatile assets:
PRINT3R introduces numerous innovations that pose unique solutions to each of these problems:
Below is a high-level (but incomplete) overview of some of our plans for 2025.
The PRINT3R experience makes it easier than ever to enjoy seamless access to all crypto futures markets.
PRINT3R is a decentralized perpetual futures exchange that enables blazing-fast, permissionless trading of any asset on daos.fun with up to 50X leverage. Built on the Solana, PRINT3R's futures markets provide unmatched speed and flexibility for daos.fun native traders.
PRINT3R's core offering is perpetual futures markets, the easiest way to speculate on digital asset prices. Perpetual futures allow traders to take leveraged positions on the price movement of any asset without owning the underlying token.
ELI5:
You can use PRINT3R to go LONG (if you think price is going to go up) and SHORT (if you think price will go down)
PRINT3R is the only platform where you can trade the longest-tail assets, all in one hub without having to do any complex transactions or move funds around!
To break down and understand why you'd want to use PRINT3R, you need to understand the following:
Whether you're a DeFi enthusiast or a seasoned trader, PRINT3R provides an unparalleled trading experience. Visit PRINT3R to begin your trading journey today and explore the limitless possibilities of on-chain futures trading!
Quickly understand what Liquidity Providers do on PRINT3R, the benefits and why you should become one to earn 50% of all Protocol Revenue.
At PRINT3R, liquidity providers (LPs) play a crucial role in ensuring the smooth functioning of our decentralized perpetual futures market. By supplying liquidity to the various markets on our platform, LPs help ensure that traders can easily enter and exit positions, enabling efficient and seamless trading experiences.
Providing liquidity on PRINT3R offers several key benefits:
Liquidity providers deposit tokens into liquidity pools for specific perpetual futures markets on PRINT3R. These pools are then used to facilitate trades by other users on the platform. When a trader makes a trade (long or short), the pool provides the necessary liquidity to execute that trade.
Liquidity provision on our platform is designed to be maximally profitable. Our approach can be summarised as essentially minimising risk, while maximising the theoretical upside. More details on how we do this can be found in Liquidity Provision
While providing liquidity can be profitable, there are risks involved:
$PRINT is the native token of the PRINT3R ecosystem, and its tokenomics are designed to ensure long-term sustainability, growth, and utility within the platform.
One of the core utilities of $PRINT is its ability to immediately capture protocol revenue from day 1 of launch, and distribute it to token holders and liquidity providers. A percentage of all platform revenue, including trading fees and liquidity pool fees, is directed to PRINT token holders. This generates a sustainable source of passive income for holders, ensuring that they benefit directly from the success and growth of the platform.
$PRINT token holders will have governance rights, enabling them to vote on key decisions within the ecosystem. This will be rolled out in the future, with details TBD.
We're thrilled to announce that our launch on daos.fun successfully raised 420 SOL. This page details exactly how we plan to allocate those funds to bolster liquidity, reward early supporters, and ensure ongoing protocol development.
Amount: 84 SOL (20% of the raise)
A core priority for the PRINT3R protocol is deep, reliable liquidity for all trading pairs. To achieve this, a portion of all the funds raised—84 SOL—will be locked into our liquidity pools. This injection:
Adding initial liquidity immediately upon mainnet launch translates directly into a smoother user experience, more activity on the platform, and ultimately higher revenue for providers. By securing a solid liquidity pool, we create a strong foundation for immediate trading of the best tokens on SOL.
We believe early community members are integral to PRINT3R's long-term success. As a way of giving back:
Through this structure, the capital you contributed not only jumpstarts the ecosystem but also becomes an ongoing earning mechanism for you as fees accrue.
Amount: 336 SOL (remaining 80% of the raise)
In addition to creating a healthy liquidity base, we're committed to sustaining the development of PRINT3R's features, security, and overall user experience. The remaining 80% of the funds is dedicated to fueling our protocol's continuous development and expansion. Here's the detailed breakdown:
Amount: ~50 SOL
Amount: ~50 SOL
Amount: ~34 SOL
Amount: ~84 SOL
Amount: ~50 SOL
Amount: ~68 SOL
By splitting the 420 SOL raise between liquidity bootstrapping and ecosystem development, PRINT3R remains well positioned for rapid, sustainable growth:
We thank all contributors for helping bring PRINT3R to life. Your trust and support have enabled us to build a truly decentralized, community-driven platform that rewards its users and scales with the market's growth.
This section provides a comprehensive overview of PRINT3R's technical architecture and implementation details.
PRINT3R is a hybrid perpetual futures exchange, providing lightning fast futures markets for assets directly on Solana.
Our exchange is purely optimised for user-experience, with the underlying ethos that blockchain technology should be a part of the stack, not the whole stack.
Our architecture improves on existing alternatives through a couple of core innovations. Most notably:
We combine the best parts of existing decentralized exchanges with the best part of centralized exchanges, to provide a safe and seamless overall experience.
PRINT3R operates via a peer-to-pool model. So users are trading against an Automated Market Maker (AMM), which is essentially just a pooled source of liquidity.
Liquidity providers are responsible for providing capital, in return for which, they directly receive lucrative yields in the form of direct revenue-share from the revenue generated through trading fees on the protocol.
This ensures that traders always have sufficient liquidity to trade against, provided the open interest caps for the pool have not been reached.
This AMM is deployed as a Solana program, making it 100% decentralized, so liquidity providers can increase / reduce exposure to the protocol at any time, almost instantly.
Using AMMs has the benefit of providing full transparency with regard to the amount of protocol reserves at any given moment in time, so users don't need to worry about protocol insolvency, or misuse of deposited funds.
To avoid segregating liquidity between many different pools, and encourage easier user experience from a liquidity provision standpoint, we have one singular liquidity pool responsible for market making for the entire platform.
This liquidity is then dynamically allocated between markets to maximise available liquidity for traders at any given time.
Markets that experience surges in demand are automatically allocated more liquidity, to meet trader demand.
Market risk is also taken into account, so markets that are inherently higher risk (lower cap assets etc.) will be allocated less liquidity and vice versa.
Dynamic allocation of liquidity means that more liquidity is put to work for fee generation, instead of sitting idly in pools with no activity, maximising returns for Liquidity Providers.
The next aspect of our architecture is a custom onchain margin account structure.
These are essentially user-specific vaults that users can deposit into / withdraw from at any time. These vaults will then credit their account with the equivalent amount of margin to trade against.
Users can deposit margin in either $SOL, or $USDC.
These margin accounts are directly connected to the AMM for the protocol, so that pnl is directly (and automatically) settled through the liquidity pool.
Margin accounts are synced 1:1 with an off-chain ledger entry, which the trading engine impacts as a user enters / exits positions on the protocol.
The final piece of the puzzle is our off-chain trading engine, written in Rust for maximum scalability, speed and efficiency.
Building this off-chain provides a number of user experience benefits over if we had chosen to deploy the entire protocol onchain:
In other words, it enables us to provide all of the user experience benefits of a centralized exchange, but with the safety and transparency of a decentralized exchange.
All assets on our protocol are priced via a concept we have pioneered, known as Synthetic AMMs (SAMMs).
These are exactly as they sound. Synthetically created constant product (x * y = k) AMMs, where the price is determined by the ratio of the assets within the pool.
SAMMs are kept correlated with the underlying asset via synthetic arbitrageurs. Reserves are adjusted in a realisted manner by autonomous arbitragers. As the price of the asset (as determined by an aggregated oracle price) is adjusted, the arbitrageurs will adjust the liquidity reserves in the SAMM to move the price closer towards its peg.
The depth of SAMMs is determined is determined by how liquid the underlying asset is. So lower cap markets will have more shallow SAMMs, meaning that price is more sensitive.
The introduction of SAMMs means that the price of an asset on our platform is unique to only our platform, and traders have direct influence over the platform's price.
For example, if a user opens a long position, they are effectively buying the size of the position worth of tokens from the SAMM, increasing the price universally throughout the platform.
Conversely, if a user opens a short position, they are selling that token and the price will decrease proportionally.
This system introduces a comprehensive slippage / price impact mechanism that serves to provide fairer and more tamper resistant markets for all assets.
To reduce the risk of manipulation on the peg price of listed assets, oracle prices are aggregated from as many sources as possible, and weighted by accuracy.
Let's take the example of $ai16z. The primary location for this asset is Daos Fun, so more weighting may be given towards the price derived from the Daos Fun pool. However, this asset is also listed on a number of different exchanges, such as Bybit, MEXC and Gate io. Taking an aggregate like this means if an attacker wanted to manipulate the price to guarantee themselves a profitable trade, they would need to do so across all platforms simultaneously.
Our pricing mechanism is designed to make is as expensive as possible to manipulate, to reduce the risk of bad actors exploiting the system for monetary gain.
Our trading engine features all of the proprietary features you might expect in a typical centralized exchange, plus more.
Each mechanism is designed from first principles to either:
Our backend is built in Rust, to maximise speed, efficiency and scalability.
Our trading engine is designed for lightning-fast execution, with positions being entered and exited in milliseconds rather than seconds.
This speed is achieved through our hybrid architecture, which combines the security of on-chain margin accounts with the performance of an off-chain trading engine.
For our funding rate mechanism, we implement a fundamentally similar concept to that pioneered by the Synthetix team with their V3 Perps.
Funding rates are dynamic and adjust in real-time based on market conditions (instead the traditional 8 hour window).
Futures funding rates are typically determined based on the distance between the futures price and the spot price. This is to incentivise a correlation between the 2 prices, so futures prices remain pegged (more or less) to the underlying asset's price.
Since we're using an oracle / SAMM system, we have no need to keep these 2 correlated via funding, as they're inherently correlated.
Our funding mechanism is built with the intention of protecting liquidity providers.
Funding is therefore charged based on skew in markets (the delta between long and short open interest).
If there is significantly more long open interest than short open interest, longs will pay shorts, and vice versa. This is to incentivise delta neutral / balanced markets.
This means that if, on aggregate, longs are profitable, shorts will be more or less equally as unprofitable, significantly reducing the risk taken on by liquidity providers.
If markets are more or less delta neutral, the liquidity provider takes on significantly less risk of impermanent loss from active positions, and instead earns more predictably via trading fee generation.
In AMM-based systems, the aggregate open interest is capped by the available liquidity within the pool.
This means that, if there are lots of positions open in a market, it may render other users unable to open new positions. Therefore, traders sitting idly in positions are effectively reducing the fee-generation efficacy of the protocol as a whole (as less trades are opened / closed).
To counter-act this, and improve APRs across the board for liquidity providers, we implement a borrowing fee, paid directly from traders to liquidity providers for every market.
This is charged as a fixed daily percentage of overall position size.
To minimise the risk of bad debt accruing on the protocol, active positions have a required maintenance margin threshold. This is a minimum collateral threshold that must be maintained, or their position will become liquidatable.
The maintenance margin threshold depends on a few factors, most notably how volatile / risky a market is and the amount of leverage of the position.
For markets that are more risk-on, maintenance margin requirements will be higher. Likewise for higher leverage positions.
To give an example, let's say Bob opens a long position with a size of $10,000, and $1000 in collateral (10x leverage) at a price of $150 on $SOL. His maintenance margin is 5%, meaning that his position will be liquidatable at -95% ($135.75).
Another feature that we implement in order to protect liquidity providers is auto-deleveraging (or ADLs).
This acts to reduce risk of insolvency of markets, by forcing active positions to take profits when markets start to become over heated.
Market "temperature" is determined by the PNL to pool ratio. When the PNL to pool ratio gets excessively high, positions will be trimmed, starting with those that contribute the most to the market temperature, and working down the list.
The current configured threshold for auto-deleveraging is 45%, with a reduction target of 25%. So for example if there are active positions in a market with $1000 of liquidity, and cumulatively those positions have greater than $450 in PNL, the auto-deleveraging process will automatically be triggered.
Profit realised is not linear as that would result in the PNL to pool ratio remaining stable. Slippage is applied along an exponential curve, so positions will realise less profit than their denoted outsanding PNL.
Operational
Version number - Private Beta v0.0.1 Testnet
©2025 Odin Labs. All Rights Reserved.