Storm Trade

Storm Trade is the primary perpetuals DEX on TON. It complements spot venues like STON.fi and DeDust by adding derivatives: users can open leveraged long or short positions on major assets without leaving for a centralized exchange.

What perpetuals are

Perpetual futures (perps) are derivatives without an expiration date. See the dedicated “Perpetuals” entry for details. In short: users post margin, open a position N times larger than the margin, and pay or receive a funding rate each period that nudges the contract price toward spot.

How Storm Trade is built

Unlike spot AMMs, a perpetuals protocol works differently:

• Contract price comes from an oracle (an aggregated off-chain price from major exchanges), not from a local pool.
• The counterparty to traders is a liquidity vault — a pool where depositors supply assets (typically USDT or TON) and earn fees and a share of spread.
• Funding rate redistributes payments between longs and shorts based on positioning imbalance.

Supported assets include the main majors: TON, BTC, ETH, sometimes a broader altcoin list. The exact set changes over time.

Margin and leverage

Storm Trade supports significant leverage — up to tens of x on the main pairs. That implies:

• Margin equal to a small percentage of position size.
• A move of that same percentage against you triggers liquidation.
• High leverage means low volatility tolerance. Most retail leveraged traders lose money.

Sourcing margin

Margin on Storm Trade is typically posted in TON or USDT. Sources:

• Spot in your wallet — the simplest route.
• A loan from EVAA or Storm Trade’s own lending side — if you want to preserve spot exposure.
• LST as collateral — some configurations allow using tsTON for margin trading.

The LP side

The other side of the trade is the liquidity vault. Depositors:

• Earn a share of funding payments and trading fees.
• Take the aggregate opposite position to all traders, so vault PnL is the inverse of net trader PnL.
• Profit when traders, on average, lose — historically the typical outcome.

It is an attractive strategy with a clear edge, but not riskless: in a strongly trending market against the vault, it can drawdown noticeably.

Risks

• High volatility plus leverage equals liquidation. The standard risk of any leveraged trading. Never deploy leverage you cannot afford to lose.
• Oracle risk. Manipulating the price that drives liquidations is a theoretical but real attack vector on any perpetuals protocol.
• Smart-contract risk. Perpetuals logic is more complex than spot, so the attack surface is larger.
• Liquidity vault risk. Vault depositors run an opposite position to the market. Strong directional moves can produce drawdowns.

Storm Trade is one of the few ways to trade with leverage on-chain inside the TON ecosystem. For casual users it is too risky a tool. For experienced traders it is an option that keeps shorts and leverage inside TON rather than forcing a move to a CEX.