Permissionless Listing
If it has a price feed, it can be traded.
Launch and operate markets on Orderly's matching and liquidation infrastructure without waiting for centralized approval processes.
Why list on Orderly?
Direct market economics
Earn 50% fee revenue + 100% liquidation from the volume your listed markets generate.
Launch without listing bottlenecks
List any token with a valid price feed, without waiting in a centralized manual review queue.
Full market configuration control
Set market parameters, choose index pricing sources, and manage market maker account setup.
Long-tail + selected RWA support
Support differentiated markets with session-aware configuration and custom pricing sources.
Scaleable listing
Launch multiple markets in parallel as long as price feeds are available.
Builder-level market isolation
Dedicated per-builder Insurance Fund and Isolated Margin for Community Listed markets help contain risk by market.
Simple requirements during promotion
Until June 6
You can create a market with just two requirements:
Why the $50K Insurance Fund is required
It acts as a risk buffer to absorb potential liquidation shortfalls and help keep market conditions healthy under stress.
Important: this is not a payment
The $50K is a deposit, not a fee. When a market is delisted and all obligations are settled, the deposit can be withdrawn.
How it works
Become eligible
During the promotion window (until June 6), Permissionless Listing is open to all builders. Outside this window, eligibility follows Builder Staking Program tier requirements.
Configure your market
Set symbol details, parameters, and index pricing sources (CEX, platform oracle, or custom oracle).
Set launch time
Schedule market go-live through the Builder dashboard.
Build liquidity and activate
Markets begin in POST_ONLY. Once ±2% depth reaches $50K on both sides for 10 minutes, the market transitions to ACTIVE automatically.
* Market maker account binding is supported as part of the operating workflow.
Frequently asked questions
During the promotion window (until June 6), it is open to all builders. After the promotion, eligibility follows Builder Staking Program tier rules.
A $50,000 USDT Insurance Fund deposit and a valid price oracle/price feed.
No. It is a deposit. It can be withdrawn when the market is delisted and all obligations are settled.
Use Permissionless Vault to raise and structure capital, then deploy it to support your market listing. Learn more about Permissionless Vault.
Yes. You can use platform/CEX sources or custom oracle sources, depending on your market setup. Learn more about custom oracle.
The market starts in POST_ONLY and auto-transitions to ACTIVE when ±2% depth sustains $50K per side for 10 minutes.
Community Listed markets use builder-level isolation, including dedicated per-builder Insurance Fund, Isolated Margin model, and per-market controls (including reduce-only and delisting under unhealthy conditions).
Community Listed markets are created and operated by individual builders. Orderly does not vet, operate, or backstop these markets.
Launch your market now
If you have a price feed, you can start building a perpetual market business on Orderly today.
Community Listed markets are created and operated by individual builders.
Orderly does not vet, operate, or backstop these markets.