Parchment Trade supports synthetic perpetual markets collateralized in USDC on Sui. Trading carries liquidation, pricing and market risks.
PARCHMENT
Earn PARCHMENT from losses and achievements; stake it for USDC.
Parchment / Sui perpetual trading & token staking
Parchment Trading | Trade Perps, Stake PARCHMENT & Earn USDC
Trade synthetic perpetuals on Sui, understand the PARCHMENT token, stake eligible PARCHMENT and track variable USDC reward distributions. Explore token emissions, staking APR, lock conditions and reward history below.
Your PARCHMENT
Connect a wallet
Your PARCHMENT balance, stake and rewards show here.
Staking
Your stake
Staked--
--
--
Stake / unstake
Reward stream
$204.02
Stream ends2026-11-14
17:17:28 UTC
Staking APR
1,464.82%
732.41%
1,152.10%
| Day | Daily implied APR | 30D implied APR |
|---|---|---|
| 2026-11-03 UTC | -- | 1,152.10% |
| 2026-11-04 UTC | -- | 1,152.10% |
| 2026-11-05 UTC | 0.00% | 1,152.10% |
| 2026-11-06 UTC | 7,577.16% | 1,152.10% |
| 2026-11-07 UTC | 954.09% | 1,152.10% |
| 2026-11-08 UTC | 1,267.92% | 1,152.10% |
Staking and minting history
USDC to staker stream
$246.31Since launch
Penalties to staker drip
0 PARCHMENTSince launch, paid out over 7d
| Day | To stakers |
|---|---|
| Nov 4 UTC | $0.00 |
| Nov 5 UTC | $0.00 |
| Nov 6 UTC | $31.34 |
| Nov 7 UTC | $141.11 |
| Nov 8 UTC | $73.86 |
How to earn PARCHMENT
Trading / Token / Staking
Parchment Trading: Perpetual Markets, PARCHMENT Staking and USDC Rewards
Parchment Trading combines a Sui-based perpetual trading interface with the PARCHMENT token. Traders use USDC collateral to open synthetic perpetual positions, while the token dashboard explains how eligible activity can create PARCHMENT and how staking participation relates to USDC distributions. Parchment Trade, PARCHMENT token staking, stake PARCHMENT and Parchment staking rewards all describe parts of this same system.
Eligible realized trader losses, referral activity and fee-backed achievements can mint or accrue PARCHMENT according to the protocol’s rules.
Stake eligible PARCHMENT, inspect locked and unlocked balances, and follow the variable USDC reward stream and historical staking APR.
Token mechanics explained
How to Stake PARCHMENT and How Parchment Staking Works
PARCHMENT minting from trading activity
The token view describes PARCHMENT creation from qualifying realized losses. Its displayed rate can be up to 100 PARCHMENT per $1 of eligible loss, and additional token earning paths include referrals and eligible achievements. This is a protocol emission mechanic, not a reason to take unnecessary trading losses: loss of trading collateral can exceed any speculative token benefit.
Stake PARCHMENT and follow the USDC reward stream
PARCHMENT holders can review their wallet balance, stake or unstake eligible tokens, and follow the displayed Staking APR and Reward Stream. The dashboard distinguishes locked PARCHMENT from available stake and notes that locked tokens can already earn. Staking rewards depend on applicable fee flows, stake eligibility, and the protocol’s distribution rules; the USDC amounts fluctuate.
Understand APR, lock status and unstaking
The historic Parchment Staking APR panel is a backward-looking estimate rather than fixed yield. Before choosing to stake PARCHMENT, check lock conditions, any available Unstake controls, wallet transaction details and the latest documentation. No staking reward is guaranteed, and high-leverage Parchment Trading is particularly risky.
For detailed protocol rules, compare the information here with the protocol documentation.
Frequently asked questions
Parchment Trading & PARCHMENT Staking FAQ
Answers about Parchment Trade, PARCHMENT token emissions, staking PARCHMENT, USDC rewards and Sui perpetual trading.
What is Parchment Trading?
Parchment Trading is a perpetual trading interface on Sui for synthetic crypto and US-equity markets. Positions use USDC collateral and settle against a house liquidity pool.
How does Parchment Trade work?
A trader chooses a market, position direction and size, provides USDC collateral on Sui, and submits an order. Perpetual positions track an oracle reference price; trading and leverage carry substantial liquidation risk.
What is the PARCHMENT token?
PARCHMENT is a participation and staking token associated with Parchment. Eligible realized trading losses and some achievements can mint PARCHMENT under the protocol rules.
How can I earn PARCHMENT tokens?
The token dashboard lists three earning paths: eligible trading losses, referrals and achievements. Its interface displays up to 100 PARCHMENT per $1 of qualifying loss, referral rewards based on fees, and a daily cap for certain achievements. Actual terms depend on the protocol.
How does Parchment Staking work?
Eligible PARCHMENT can be staked through the token dashboard. Stakers participate in USDC distributions supported by the protocol reward stream, subject to stake weight, timing, lock rules and available fees.
How do I stake PARCHMENT?
Review the token dashboard, connect a compatible Sui wallet on the verified protocol interface, check your available PARCHMENT balance and any locked amount, then follow the Stake confirmation steps. Never approve an unfamiliar transaction.
What are the PARCHMENT staking rewards?
The dashboard describes USDC rewards from a protocol reward stream. Amounts depend on fee generation, distribution rules and each eligible stake share. Rewards and any displayed APR can change and are not guaranteed.
Can I unstake PARCHMENT?
The dashboard includes Stake and Unstake tabs. Availability can depend on whether tokens are already unlocked, any active lock conditions and the protocol’s current rules.
Do locked PARCHMENT tokens earn rewards?
The token page states that locked PARCHMENT already earns and can be staked separately once released. Check the current account view for the actual locked and available amounts.
Where can I see Parchment staking APR and rewards?
The token dashboard has Staking APR, Reward stream, and Staking and minting history panels. Historical APR readings are not a promise of future USDC earnings.
What network does Parchment Trading use?
Parchment operates on Sui. Its documented trading collateral is USDC on Sui, and users may need a small SUI balance for network fees.
Is perpetual trading or PARCHMENT staking risk-free?
No. Leveraged perpetuals can rapidly liquidate collateral. Staking involves smart-contract, liquidity, fee-revenue and protocol risks. Neither token emissions nor USDC returns are guaranteed.