cliff> every meme has a cliff
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Short Solana memecoins at 1×, 1.5× or 2×. Market caps come straight from each coin's pool. Winners are paid from a public vault.
- Open interest
- $0
- Vault
- $0
- NAV per share
- 1.0000
- $CLIFF fees to vault
- $0
- Open positions
- 0
cliff> how a short works
Pick a coin
Every listed coin is a Solana memecoin with a deep pool. Each one has a limit on how much can be shorted at once.
Put up USDC and choose leverage
Your collateral times 1×, 1.5× or 2× is your position size. A 0.30% open fee comes off the top.
The coin moves
If it falls, you gain on your position size and the vault pays you. If it rises, you lose collateral. Funding of 0.02% an hour is charged while it's open.
Close after 2 minutes
Positions can close any time after a 2-minute minimum hold. If the coin climbs too far, anyone can liquidate it.
Worked example
You put 100 USDC on a coin with a $40.00M market cap, at 2×. The open fee is 0.60 USDC, so your collateral is 99.40 USDC and your position is 198.80 USDC. You enter at a $40.00M market cap, the lower of now and the 5-minute average, and hold for 6 hours.
| What happens | You get back | Result |
|---|---|---|
| Market cap falls 20% ($32.00M) | 138.92 USDC | +38.9% |
| Market cap rises 10% ($44.00M) | 79.28 USDC | −20.7% |
| Market cap rises 45%: the liquidation line ($58.00M) | 8.71 USDC | −91.3% |
| Market cap rises 50%: total loss ($60.00M) | 0.00 USDC | −100.0% |
Includes 0.24 USDC of funding for 6 hours, and the 1% liquidation bounty where it applies. Market cap is the coin's price times its supply. The price is the coin's price in SOL times SOL's price in USD, both read from pools.
cliff> listed markets
PAPER Live market caps from each coin's pool. Real trading opens at launch; until then, paper-trade them with no money.
cliff> back the desk
The vault takes the other side of every short. Stake USDC in it and you own a share of whatever it earns or loses.
It earns from $CLIFF trading fees, the open fee, funding and trader losses. It pays out when shorts win. You get shares at the current NAV and withdraw at the NAV on the day you claim, after a 24-hour wait.
Go to the vaultRead this before you stake
- Your deposit is at risk. You can get back less than you put in.
- There is no fixed return. Past fees don't predict future ones.
- The vault is effectively long the listed coins. It loses money when they fall hard and shorts win.
- Withdrawals wait 24 hours and can't take money reserved for open positions.
cliff> questions
What does shorting mean here?
You bet a coin's market cap will fall. If it falls, the vault pays you the difference on your position size. If it rises, you lose some or all of your collateral to the vault.
Where does the market cap come from?
Straight from each coin's pool on-chain, in the same transaction as your trade. Market cap is the coin's price times its current on-chain supply, and the price is the coin's price in SOL times SOL's price in USD, each taken from a pool. Cliff records its own 5-minute average from the same pools. There's no outside price feed and nobody types in a price.
Why is my entry different from the market cap on screen?
Cliff uses the worse of two for you: the market cap right now and its 5-minute average. That stops anyone pushing the price for a moment to get a better fill. Your entry is the lower of the two, and your close is the higher of the two.
Can I lose more than I put in?
No. The most you can lose is your collateral. If the market cap climbs to the wipe line, the position is a total loss and closes.
Who pays me when I win?
The vault. It's funded by $CLIFF trading fees, desk fees, trader losses and people who stake in it. Payouts can't be blocked or paused by anyone, including the team.
Is staking in the vault safe?
No. Your deposit is at risk and there is no fixed return. The vault wins when listed coins rise and loses when they fall, so it behaves like holding the coins.
Posted here at launch. Don't trust an address from anywhere else.