What is Parchment Trading?
Parchment Trading is a perpetual trading protocol built around synthetic markets on the Sui blockchain. Rather than buying a spot asset, a trader opens a directional perpetual position. The protocol describes crypto and US-equity exposures with positions collateralized in USDC on Sui and settled against a house liquidity pool.
Alongside the trading terminal, the Parchment token interface includes an earning and staking system. Certain eligible realized trading losses, referral activity and achievements can generate PARCHMENT. Eligible holders can then stake PARCHMENT to participate in variable USDC reward distributions, depending on protocol rules and the available reward stream.
How Parchment Trade, Token Minting and Staking Fit Together
Open and manage long or short synthetic positions using supported Sui collateral and markets.
The token interface describes conditional emissions tied to qualifying losses and participation.
Use the staking panel to review eligible, staked and locked PARCHMENT balances.
Review the reward stream, realized distributions, APR history and unstaking eligibility.
The trading account and the token-reward account are distinct concepts: holding a trade does not guarantee PARCHMENT issuance, and staking does not guarantee a fixed annual return.
Getting Started with Parchment on Sui
Understand the Sui network
Parchment documentation describes Sui USDC as the trading collateral and a small amount of SUI as network gas. Verify supported assets and networks at the official protocol.
Review the trading interface
Choose an eligible perpetual market, assess leverage, liquidation thresholds and the impact of price movements before submitting an order.
Explore the PARCHMENT token dashboard
Check how token emissions, locked balances, staking and the USDC reward stream are displayed. Dashboard readings may change over time.
Read the individual documentation pages
Continue to the guides for Parchment Trade, PARCHMENT minting, Stake / Unstake and USDC rewards.
Parchment Docs Topics
| Topic | What the guide covers |
|---|---|
| Parchment Trading | Perps, USDC margin, long and short positions, risk and liquidation. |
| PARCHMENT Token | Loss-linked issuance, referral activity, achievements and token balances. |
| Parchment Staking | Stake PARCHMENT, Unstake PARCHMENT, available versus locked tokens. |
| USDC Staking Rewards | Reward streams, fee sharing, APR periods and reading historical metrics. |
Before You Trade or Stake
Perpetual trading with leverage can cause rapid losses and liquidation. Staking exposes the holder to token, contract and protocol risks; USDC distributions depend on the actual fee flows and reward rules. This guide explains interface concepts and does not represent a prediction of profitability, a verified current APR or a promise that staking functionality is available for every wallet.
For current transactions and authoritative contract details, use the official Parchment website and the protocol’s own documentation. These HTML pages are informational, not a wallet connection service.
Getting started FAQ
What is Parchment Trading?
Parchment Trading is a synthetic perpetual trading protocol on Sui, where eligible positions use USDC collateral and settle against protocol liquidity.
What is the PARCHMENT token?
PARCHMENT is a protocol token associated with qualifying trading outcomes and other participation routes, with staking functionality described on the token dashboard.
Can I stake PARCHMENT for USDC rewards?
The token dashboard describes PARCHMENT staking tied to a variable USDC reward stream. Eligibility, timing, fees and payouts depend on current protocol conditions.
Where can I find more Parchment Docs topics?
Use the five documentation pages for Overview, Trading, Token, Staking / Unstaking and USDC Rewards.