Knockout

Go long or short at 1000x on Solana. Pick a direction and a stake. Your stake is the most you can lose.

Rekt runs two products on Solana: Knockout, described on this page, and Minute, a timed round built on Knockout that you cannot close early.

Knockout lets you go long or short at 1000x, with two simple limits. A barrier: if the price hits it, the position is knocked out. And a cap on the most a position can pay. You pick a direction and a stake, and the rules are fixed the moment you open.

If you have gone long or short on other crypto venues, the shape is familiar. The difference is the end: no margin calls and nothing to top up. If the price hits your barrier, the position closes and your stake is gone. That is the most you can lose.

Holding a position is free: the funding rate is 0.

How the product works

Direction, stake, barrier, tenor — and the ways a position ends.

The venue

What the program does: admission and the queue, the pricing path, the bounds on loss and payout.

Fees and limits

What a trade costs, the stake limits, the hours, the minimum hold and how a win is paid. Dated, and they can change.

Build on it

A bot that quotes, opens and closes in one file. The SDK reads state, predicts every refusal before you send, and prices every close.

Orders and closes

An open is an order that the venue’s next price fills, and a close is a request anyone completes. The rules a client or a bot builds against.

The liquidity pool

One shared pool takes the other side of every position and funds every win. How a win is paid, how the pool is read, and how it loses money.

Markets

BTC, ETH, SOL, XRP and HYPE, around the clock.

Where it is running

The program	1oooxLtzLiYV6LcDybrEPcyXVLPWGnAmeif9s5oNrp6 on Solana mainnet. This is the ground of truth. Derive every account address from it rather than copying one
The facts API	https://data.rekt.trading — settled trades, rebuilt by replaying each settlement through the same engine the program runs. No account; a web page on any origin can call it. Per-transaction routes answer the last 48 hours and all-time totals stay on /v0/stats and /v0/markets; see Data API. Start at /v0/health

The facts API is a lagging mirror and answers no live question. There is no RPC endpoint in that process. Pool size, open positions, the current price, whether a trade would be admitted — none of those routes exist. Read live state from the chain through the SDK; read history from the API. Every response carries asOf and says stale: true when the archive has stopped advancing.

A trade, in short

• Pick a market and a direction. BTC, ETH, SOL, XRP or HYPE, long or short. All five trade around the clock. See markets.
• Pick a stake from $0.20 to $1,000. Every position is 1000x your stake.
• Add a take profit if you like, at 2.00x your stake or more. Without one, the target is the payout cap.
• Your entry is the next price. The stake is taken when your open lands, and the next price after a short delay sets your entry. If no price comes in time, your whole stake comes back.
• It ends one of three ways: knocked out at the barrier, closed at your take profit, or cashed out by you. You can also set a timer. There is no other clock.
• Opening is free. You pay when you close: a loss tax and a higher exit fee on a loss, a lower exit fee on a win, and the terms keep part of a gain (less of a big one). The numbers are on Fees and limits.

The choice	What it does
Market	Which price decides your outcome: BTC, ETH, SOL, XRP or HYPE; see markets.
Direction	Long or short.
Stake	What you put in, from $0.20 to $1,000. It is the most you can lose.
Take profit (optional)	Any multiple of your stake from 2.00x up to the payout cap. Without one, the target is the payout cap. Reaching it is a gross gain of the multiple less one, times the stake, before the exit fee and the share of the gain the terms keep (how a win is calculated).
1000x	The same on every market. It sets how far the price has to move to hit your barrier or your take profit, so how fast the position ends.

How a win is paid

Opening a position takes your stake and nothing else. If the pool cannot cover a new position when it fills, the order is returned with your whole stake and no fee.

A win is paid in full. Part of it may be paid later, in order. There is no guaranteed time. The amount queued ahead of you is shown. When you cash out, your stake comes back at once and the profit is paid from the pool’s free cash. Whatever the pool cannot pay yet joins a queue and is paid first in, first out. How a win is paid has the rule in full.

The program never writes down an amount it owes: it is paid in full or stays owed. A payout that cannot be delivered is held for its trader, and it is released to the pool if nobody claims it within config.params.unclaimedPayoutExpiryS (the liquidity pool).

Know this before you trade

• The barrier is close, on purpose. At 1000x a small, ordinary move can knock you out. That is the product working. Size every trade as if that is a normal result.
• At the barrier you get nothing back. The position is over and the stake is gone.
• Doubling down does not protect you. You can add to a live position. It averages your entry, so adding while you are ahead moves your barrier closer to the price. See adding to a position.
• Your stake is the most you can lose. There is nothing to top up and no way to owe more.

Read the venue before you trade. The risk disclosure follows it.

Who takes the other side

One shared pool takes the other side of every position. It pays every win and keeps a share of the fees. The pool belongs to the protocol: nobody can deposit into it or withdraw from it. See the liquidity pool.

Everything is on chain

Every fee, limit and delay lives in accounts you can read yourself. The protocol can change them, on chain and in public, and a position keeps the terms it opened with. The SDK reads the live values:

import { Connection } from '@solana/web3.js';
import { configPda, decodeConfig } from '@rekt-trading/1000x';

// SOLANA_RPC_URL is read from the environment. Never hardcode an endpoint that carries a token.
const connection = new Connection(process.env['SOLANA_RPC_URL'] ?? '', 'confirmed');
const info = await connection.getAccountInfo(configPda().address, 'confirmed');
const config = decodeConfig(new Uint8Array(info!.data));

// The live bounds, the live entry fee and funding rate, the live cap — read, not typed.
// The exit fee is in the market's fee-terms account (`feeTermsTablePda`), not in the config.
console.log(config.params.minCollateral, config.params.maxCollateral);
console.log(config.params.entryFeeBps, config.params.borrowRateBpsPerHour);
console.log(config.params.payoutCapMultiple, config.params.tMaxSeconds);

Knockout is early software. It has not been audited by a third party. Trade only with money you can afford to lose entirely. Read the risk disclosure.