The Venue
Defined-Risk Perps
No liquidation price. Max loss is the margin you posted, revealed the moment you enter.
Status
Pre-launch — Moorix is not live yet. Parameters are illustrative and tunable at launch.
No liquidation price
A defined-risk perp has no liquidation price. Your max loss is the margin you posted, and it is revealed the moment you enter. Nothing hunts your position in the dark.
The premium streams
Instead of a liquidator, a quiet risk premium streams from your margin, block by block, as rent paid to the vault for holding your tail.
- It is paid continuously while the position is open.
- The live premium curve always shows exactly what protection costs.
- Holding $MORX lowers it: from -10% at Deckhand to -40% at Admiral (Ranks), and staking lowers it on your own open positions (Staking).
- Equity perps use a separate premium schedule when stock markets are closed (24/7 equity perps).
The premium curve itself is not published yet, and holders govern it.
When the margin runs dry
The position closes at mark.
- No penalty
- No cascade
- No one left holding the loss
Why it matters
A long that would have been wicked out at -8% on a classic perp is still alive when the price returns. Wicks pass through like weather. The survivability simulator replays exactly those wicks.
For the venue, the worst night, the cascade, becomes a quiet, priced, recurring revenue line.
Max loss = posted margin
| Defined-Risk | Classic Mode | |
|---|---|---|
| Liquidation price | None | Yes |
| Max loss | Posted margin, shown at entry | Can be liquidated |
| Ongoing cost | Risk premium + funding (higher carry) | Funding (cheapest carry) |
| Leverage | Depends on the market's oracle class | Up to 50x |
| Ends when | You close, or margin runs dry (closes at mark) | You close, or you are liquidated |
Risk
No liquidation does not mean no risk. Protection costs a higher carry, and your posted margin can still be lost in full. Moorix states this plainly on every ticket.