Proposing a market

Proposals are submitted on app.perps.fun/propose. Submission is free, requires no on-chain transaction, and rate-limits to three proposals per hour per wallet.

A connected wallet is required. Privy supports embedded wallets (email or Google sign-in) and injected wallets including MetaMask and Rabby. The wallet address is recorded as the proposer on the vault if the proposal is approved.

Form

The form is a single page covering three areas:

• Market details. Market name, ticker, and an optional ticker logo (PNG, JPG, or SVG).
• Oracle. Either a SEDA feed (selected from an in-app picker covering 42,000+ feeds across crypto, equities, FX, and commodities) or a custom HTTPS endpoint returning the asset's price.
• Market parameters. Maximum leverage (1x to 10x, capped at 10x by policy), funding rate multiplier (0x to 10x; 1.0 matches the standard Hyperliquid formula), and OI cap ($100k to $1M).

The form shows a live bonding target estimate as parameters change. The estimate is the sum of the live HIP-3 ticker auction price (in USDC) and 20% of the OI cap as seed liquidity.

After submission

The page redirects to /status/[id] where the proposer tracks review progress. The proposal sits in pending until a reviewer picks it up. Contact methods on the proposer's profile (email, X/Twitter, Telegram) are the back-channel for feedback.

Next

Quant review covers what the team checks before approval.