Using Bazaar
Bazaar is designed to be used as a deployed protocol, not software you need to run. Everything in this guide is written against the official deployment — once it is live, canonical addresses will be listed in Deployments, and only those addresses (plus pairs discoverable from the listed factory) will be the real Bazaar.
The protocol is not yet deployed. Addresses will appear in Deployments at launch; until then, everything can be exercised on a testnet or local stack.
Pick your path
| You want to… | Start here | You need |
|---|---|---|
| Trade perps with leverage | Trading | USDC on Arbitrum |
| Earn yield backstopping a market | Earning → Insurance LP | USDC, patience (20-day exit cooldown) |
| Run bots that collect bounties | Earning → Keeper bounties | a bot, gas money |
| Operate matching infrastructure | Earning → Sequencing | ≥ $1,000 bond + off-chain matcher |
| Build a frontend/bot and earn referral fees | Integrators | just an address |
| List a new market | Markets & Listing | ≥ $4,000 (bond + insurance seed) |
| Understand the machine | Protocol chapters | curiosity |
Every role above is permissionless — no signups, no whitelists, no API keys. If you can send a transaction, you can participate.
The five-minute mental model
- Each market ("pair") is its own contract with its own order book, insurance fund, and USDC collateral pool. One net position per wallet per market.
- Orders rest on-chain; bonded sequencers batch-match them a few times per second and are slashed if they censor anyone.
- Margin is dynamic: calmer markets allow up to 25× leverage, wilder ones less. Fall below maintenance margin and anyone may liquidate you.
- Losses that liquidations can't cover cascade through a defined waterfall (vault → auto-deleveraging → insurance fund → haircuts) — never first-come-first-served, never socialized by surprise rules.
- Markets on stocks and FX keep working when their venues close, under tightened rules; and any market can be wound down to cash settlement when its underlying dies.