Testnet guide

Your first on-chain trade, step by step.

The terminal has two modes, switched next to the logo: Practice trades a practice balance instantly with no wallet, Testnet settles every order on Robinhood Chain testnet with free test tokens. This guide is for Testnet mode. You need a browser wallet, a little testnet ETH for gas, and mUSDC you claim on the page. Setup takes a few minutes and four transactions to sign.

Wallet MetaMask, Rabby or Phantom Network Robinhood Chain testnet · 46630 Collateral mUSDC, 1,000 a day Leverage 1x to 5x per book, isolated

The one thing to know

Your mUSDC lives in two places.

Claiming puts mUSDC in your wallet. Orders only use your balance inside the venue, so the mUSDC has to be deposited before the order button unlocks. The top bar shows both: In wallet is your wallet, In venue is what you can trade with. On a phone the top bar shows only your address; both balances are in the Testnet wallet card.

Faucet
Claim
1,000 mUSDC a day
free
Your wallet
mUSDC
not tradeable yet
deposit
The venue
In venue
what orders draw on
commit
A position
Margin
comes back when you close

Setup · step 1 of 8

1Connect your wallet

  • Open the terminal in Testnet mode (or press Testnet next to the logo) and press Connect wallet at the top right.
  • Your wallet asks to connect, then to switch to Robinhood Chain Testnet. If it does not know the network yet, the page adds it for you (chain id 46630).
  • Switching account or network in your wallet reloads the page. Connect again if it asks.
  • Phantom reaches this testnet only with Testnet Mode on: in Phantom open Settings, then Developer Settings, and turn on Testnet Mode. Phantom does not let a page add networks, so the page asks you to do this instead.
  • With several wallets installed, the page asks which one to use.
The top bar shows your wallet next to In venue and In wallet.
After connecting, the top bar shows your wallet and both balances. The dot on the left tells you prices are arriving.

Setup · step 2 of 8

2Get testnet ETH for gas

  • Every action on the venue is a transaction, and transactions need a little ETH for gas.
  • Get it free from the official Robinhood Chain faucet, sent to the wallet you connected. 0.01 test ETH covers hundreds of actions.
Testnet ETH in the Testnet wallet card is above zero and the Gas row turns green.
In Testnet mode the Testnet wallet card sits in the right column, below the order ticket. Scroll the column down to reach it; on a phone it is at the bottom of the page.

Setup · step 3 of 8

3Claim 1,000 mUSDC

  • In the Testnet wallet card, press Claim. One signature.
  • Each wallet can claim once every 24 hours. Until then the button reads Claimed · 23h with the hours left.
  • mUSDC is mock USDC made for this testnet.
mUSDC in wallet shows $1,000.00. It is not tradeable yet: that is the next step.
Claim sends 1,000 mUSDC to your wallet.

Setup · step 4 of 8

The step people miss

4Deposit into the venue

  • In the same card, type an amount in the box next to Deposit. It starts at 500; type 1000 to move everything. Your first deposit must be at least 20 mUSDC.
  • Press Deposit. The first time your wallet asks twice: Approve mUSDC, then Deposit. The approval covers ten times the amount, so later deposits usually need one signature.
  • Until you deposit, the order button reads Deposit $56 first with what the order needs, and pressing it deposits that amount for you. If your wallet holds no mUSDC yet, it claims first.
In venue shows your deposit, the Deposit row turns green, and the order button names the book and the size instead.
Amount, then Deposit. Two signatures the first time: approve, then deposit.

Trade · step 5 of 8

5Pick a book and place an order

Each book is one trader's whole account on fomo.family or pump.fun, priced by the venue's mark. How the mark is built.

  • Pick a book from the list on the left. You can open positions only on books marked Open. A book marked Closing only takes orders that shrink a position, and a Paused book takes none until fresh prices arrive.
  • Choose a side. LONG gains when the account's value rises, SHORT when it falls.
  • Enter a size in dollars, $50 at least, or press 25%, 50%, 75% or Max of what your venue balance allows.
  • Pick leverage from 1x up to the book's maximum, shown as max 2x · isolated margin above the slider. The maximum is set per book, anywhere from 1x to 5x: the top tier allows up to 5x, the middle tier up to 3x, the rest up to 2x, and a book whose account sits mostly in one token is held lower still. Margin is isolated: only this position's margin is at risk.
  • Press the button, for example Long Unipcs · $100. One signature commits the order.

Reading the ticket

Est. fillThe price your order is expected to fill at, spread included.
SpreadWhat a fill pays over the mark: 30 to 300 bps, wider when prices move fast or one side is crowded.
Fee0.15% of the size (15 bps), on every fill.
Margin requiredSize divided by leverage: the position's margin.
Held until the fillWhat leaves your venue balance when you commit. See below.
Est. liquidationWhere the position would be liquidated, leaving out fees and funding.
Room on this sideWhether the book's open-interest cap has space for your size: up to $100,000 per side, less on smaller accounts.
What the venue holds while you wait. When you commit, the venue sets aside the position's margin, a buffer of 10% of the margin it requires at the book's maximum leverage, and the fee. At the fill the position takes what it needs and the rest goes straight back to your venue balance.
A $100 order on a 2x bookat 2xat 1x
Margin$50.00$100.00
Buffer$5.00$5.00
Fee$0.15$0.15
Held until the fill$55.15$105.15
A $100 long at 2x with $500 in the venue. The Max next to Size is what your venue balance can hold at the chosen leverage.

Trade · step 6 of 8

6Wait for the fill, about three minutes

Orders do not fill the moment you press the button. Your commit records the order; a keeper executes it once the three minutes after your commit have passed, at the average mark over those three minutes, the forward TWAP. Nobody can trade on a price they can already see.

  • The Orders tab under the chart lists the orders you placed in this browser: waiting for the fill, then executed or cancelled. Each row links to its transaction on the explorer, and the list survives a reload for a day.
  • A fill more than 10% away from the mark at your commit is cancelled. Your margin comes back; the 0.15% fee is not refunded.
  • Other cancellations return everything: the book stopped being NORMAL during the wait, or its cap filled up.
  • An order that cannot be executed for 24 hours can be cancelled by anyone, and everything comes back.
The order shows executed and the position appears in the Positions tab.
Waiting orders turn to executed or cancelled on their own; the page checks every 8 seconds for the first 15 minutes, then on reload.

Trade · step 7 of 8

7Watch the position and close it

  • The Position in this book card and the Positions tab show size, entry, mark, margin, equity and maintenance.
  • The chart draws a line at your entry with a Close button, which asks for a second press, and a dotted line at the estimated liquidation price.
  • Close 50% and Close all send an order that only shrinks the position. It fills the same way: at the forward TWAP about three minutes later.
  • Liquidation. When equity falls to the maintenance margin, 10% to 15% of the position's value depending on the book's tier, a keeper liquidates part of the position until it is healthy again, with a 1% penalty. The stats row above the chart shows the exact figure for the book you are on.
After a full close the margin, plus or minus your profit and loss, is back in In venue.
Closing is an order too, so it fills at the forward TWAP.

Trade · step 8 of 8

8Withdraw

Where am I?

Check your wallet

Paste a wallet address, or use the wallet in this browser, to see which steps are done. This only reads the chain. Use my wallet asks your wallet to share its address; nothing here ever asks for a signature.

Troubleshooting

When something looks wrong

What you seeWhat it meansWhat to do
No wallet found, or a grey Connect wallet buttonThe page cannot see a browser wallet.Install MetaMask, Rabby or Phantom, then reload.
Phantom: "reaches Robinhood Chain testnet only with Testnet Mode on"Phantom only knows this network in Testnet Mode, and a page cannot add networks to it.In Phantom: Settings, Developer Settings, Testnet Mode. Then connect again.
The page connected the wrong walletSeveral wallets are installed.Reload and pick the other one in the dialog. If no dialog appears, the other wallet is not announcing itself; disable it for this site.
Deposit $56 first on the order buttonYour venue balance is empty. mUSDC in your wallet does not count.Press it: it deposits what the order needs (step 4).
Deposit $38 more firstThe order needs more than your venue balance holds.Press it to deposit the difference, or lower the size, or raise the leverage.
Claim 1,000 mUSDC firstYour wallet holds no mUSDC and the daily claim is open.Press it, then press again to deposit.
deposit to size an order next to SizeNo venue balance to size an order against.Deposit.
Claimed · 23hOne claim per wallet every 24 hours.Wait, or trade what you already have.
Trading paused or Closing onlyThe book is not open right now: prices are stale, or it is winding down.Pick another book. In a closing-only book you can still close.
"no signed price for this book yet"No signed price has been published for this book yet.Pick another book, or try again shortly.
The order stays "waiting for the fill"The fill needs three minutes of fresh prices after your commit.Check that the top bar says prices live. After 24 hours without a fill the order can be cancelled and everything returns.
The order shows cancelledThe price moved more than 10%, the cap filled, or the book changed status.The margin is back in the venue. Place the order again.
A transaction fails at once with insufficient fundsNo testnet ETH for gas.Use the faucet (step 2).
Your first deposit failsFirst deposits must be at least 20 mUSDC.Deposit 20 or more.

Words on the page

Glossary

Book
One trader's whole account, traded as a single market.
Mark
What the venue says the account is worth, published on chain in signed epoch roots. How it is built.
Epoch root
A signed batch of every book's mark, posted to the chain every 30 to 180 seconds. "Prices live" in the top bar means they are arriving.
Forward TWAP
The average mark over the three minutes after your commit. Your fill price is built from it.
Keeper
A bot that executes orders when their three minutes are up and liquidates unhealthy positions.
Isolated margin
Each position has its own margin. A loss in one book never touches another.
Maintenance margin
The equity a position must keep: 10% to 15% of its value, set by the book's tier. Below it, the position can be liquidated.
Open-interest cap
The most one side of a book can hold. The ticket shows it as Room on this side.
Funding
A small hourly payment between longs and shorts that pulls a crowded book back toward balance.
mUSDC
Mock USDC for this testnet: claim 1,000 per wallet per day.

Contracts

Venue0x82BD386B89240F40Fc0ff0a7451eD4ED80B146a1
Mock USDC0x2D4c6ED557092940B83fEef08456623DEEc63759
Oracle0xFDF377eFF6607DbaC6a19f14cF2e434F6D4EA2C9
Backstop vault0xa7eaC50B05216f6B27f51C60fc0DB6591cc839C6
ChainRobinhood Chain testnet · 46630