GRADEX
Pokémon · graded · all eras
PKMN index · Solana vault sales
reading the sales record…
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24h — · 7d —
Index · 1000 = launch, 6 Oct 2026
Cert · window — · — countedPublished —
Trade PKMN
MarginSOL
Leverage1x to 20x
5x
Exposure—Entry level—Liquidation level—Index move to liquidation—Open fee—Most you can lose—
Valued against the published level, not an orderbook. 0.10% of exposure at open and close. Hourly funding between longs and shorts when the sides are unbalanced.
Free balance—
OI long
—SOL
OI short
—SOL
Vault
—SOL

Sales feeding the index

Every row is a graded card that changed hands inside a Collector Crypt vault, settled in USDC on Solana. The reference value is the vault's appraisal the first time the engine saw the card, frozen from then on. New sales arrive here the minute they settle.

CardPriceReferenceSale ÷ referenceCountedWhen

Follow one sale

The path from a settled transaction to a change in the level, shown on the most recent counted sale. Scroll to move the slab through the stations.

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Chain · transaction
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Decoded · price paid, buyer, seller
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Card · reference frozen at first sight
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Filters · wash, flip, outlier
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Level · weighted median, rebased
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The transaction settles

Collector Crypt's program moves USDC from the buyer to the seller and 2% to its fee account, and the card token to the buyer. The engine follows that fee account, so every sale is seen within a minute.

The sale is decoded

Price paid is the USDC that left the buyer. The card token is the asset moved in the same transaction. Nothing is estimated.

The card gets a reference

The token resolves to one card at one grade. Its vault appraisal is stored once and never revised, so later sales are always compared against the same number.

The filters run

Same-pair trades within seven days, resales within six hours, prices under 5 USDC and ratios outside 20% to 500% are dropped. This sale passed.

The level moves

The sale enters the rolling window and the weighted median is recomputed. The level moves 20% of the way to the new reading on each publish, every minute.

Open positions
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Liquidations
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Insurance fund
—SOL
Deposited, all time
—SOL

Your positions

Margin is isolated per position. A position is liquidated when its equity falls to 10% of the initial margin, at the published level. Closing is always allowed, also when opening is paused.

Connect a wallet to see your positions.

Closed

Nothing closed yet.

Market activity

Opens, closes and liquidations on the index, newest first. Wallets are shortened.

No positions have been opened yet.

The GRADEX coin

GRADEX has one coin, launched on pump.fun. It is not a unit of the index and gives no exposure to card prices; the index is traded on the slab above. The coin receives the trading revenue in the way described below.

Trading fees0.10% of exposure is charged when a position opens and when it closes. Liquidations leave the remaining margin in the insurance fund.
BuybackHalf of the fees collected since the last run buy the coin on the open market every six hours, from the fee wallet, when the amount is at least 0.02 SOL.
Creator feesCreator fees from the coin are claimed hourly into the same fee wallet, which also pays network fees for the buybacks.
Fees collected, not yet used—Fees paid out to buybacks—Insurance fund—Buybacks run—
Contract address
The coin has not been launched yet. The address will be published here and nowhere else first.

Questions

What am I trading?

A number: the GRADEX PKMN level. A long position gains when the level rises and loses when it falls, a short position the reverse. Profit and loss are paid in SOL from the vault, in proportion to your exposure and the percentage move of the level between entry and exit.

Where does the price come from?

From sales of graded Pokémon cards held in Collector Crypt vaults, settled in USDC on Solana. The engine reads those transactions directly from the chain. No order on this page moves the level, because the level is made of card sales, not of positions.

How does margin work?

You deposit SOL into the vault and assign part of it to a position as margin. Exposure is margin times leverage, from 1x to 20x. At 20x, a 2% move in the level is a 40% move on your margin. The most a position can lose is its margin; your free balance and your wallet are never touched.

When is a position liquidated?

When its equity, margin plus unrealized profit or loss, falls to 10% of the initial margin at the published level. The liquidation level is shown before you open and on every open position. What remains of the margin after a liquidation goes to the insurance fund, not back to the trader.

What is funding?

Once an hour, when one side holds more exposure than the other, the heavier side pays the lighter side 0.01% of exposure times the imbalance. If longs hold 70% of exposure, longs pay 0.004% per hour. Funding is a payment between traders; none of it goes to GRADEX.

Who is the counterparty?

The vault. There is no orderbook; every position is opened against the vault's balance at the published level. The operator backs the vault with up to 1,000 SOL and tops it up as positions require; that backing is shown on the back of the slab. Opening is refused when the vault and its backing could not pay a 10% move on the net exposure, and the market becomes reduce-only if the SOL actually in the vault ever falls below what it owes, until it is topped up.

What is this not?

Not an ETF and not a marketplace. GRADEX holds no cards, mints no tokens for cards, ships nothing and grades nothing. The coin is not a claim on the index or on any card. The index is a measurement, and the market is a bet on that measurement.

What can go wrong?

The sales record can thin out, which widens the window and slows the level. The data source can change its API or fee account, which stops the feed; opening is paused when the level is more than 30 minutes old. The vault is custodial: deposits are held by one key on one server. Do not deposit more than you are prepared to lose.