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General

TrueCurrent is a non-custodial perpetuals exchange on Injective that uses a Request for Quote (RFQ) system.Instead of trading against an automated market maker or a passive order book, you receive live, competitive quotes from institutional liquidity providers and execute at the locked-in price with no slippage.
Yes - your funds stay in your Injective subaccount at all times, and no TrueCurrent team member or infrastructure can access your wallet.TrueCurrent’s smart contract only accesses your funds during settlement, via narrow authz permissions that you control and can revoke at any time.
TrueCurrent is built on the Injective network, with all settlement happening on the Injective blockchain.Injective provides sub-second finality and zero gas fees for users.
No - Injective covers all transaction costs so you pay zero gas for any action on TrueCurrent.
Three ways, depending on where your USDC currently lives:
  1. Already on Injective? Send it to your inj1… address — that is your TrueCurrent address.
  2. On Ethereum, Arbitrum, Base, or another CCTP-supported chain? Use the connect-wallet bridge in the Deposit panel. CCTP handles the rest.
  3. On a CEX, cold storage, or anywhere wallet-connection is awkward? Use the QR-code deposit flow. TrueCurrent generates a per-source-network deposit address; you send USDC to it; account abstraction bridges it into your Injective wallet for you.
See Deposit funds for the full walkthrough of each path.
TrueCurrent charges zero protocol fees to traders — no taker fee, no gas fee, and no deposit or withdrawal fee.Makers pay a 4 bps (0.04%) protocol fee on filled volume, which is how the protocol sustains itself while keeping trading free for users. See Fees for the full breakdown.
TrueCurrent supports Rabby (recommended), Rainbow, MetaMask, and Keplr.No KYC or account creation is required. After connecting, you complete a one-time authz authorization (~30 seconds) that scopes the contract’s access to your wallet. See Connect a wallet for setup instructions.
TrueCurrent perpetual trading is not available in the jurisdictions listed below. Eligibility is determined by your IP-based location and may change to meet applicable legal and regulatory requirements.
  • United States and its territories: United States, Puerto Rico, U.S. Virgin Islands, Guam, American Samoa, Northern Mariana Islands, and United States Minor Outlying Islands
  • United Kingdom and Canada
  • Cuba, Iran, North Korea, Syria, Russia, and Belarus
  • Crimea and the Donetsk and Luhansk regions of Ukraine
If you are in a restricted jurisdiction, you cannot open new perpetual trades through TrueCurrent. Existing positions and funds remain onchain and are not held by TrueCurrent.

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Trading

RFQ (Request for Quote) is TrueCurrent’s trading model where institutional liquidity providers compete in real time to fill your order at a fixed, firm price.Unlike Automated Market Makers (AMMs), the price is locked at quote time and doesn’t change during settlement. See RFQ explained for a full explanation.
The request is cancelled and your margin is released. Nothing settles onchain, so you pay nothing. You can submit a new request immediately — prices update continuously.This is rare on liquid markets, where multiple makers compete on every request.
Worst price is the maximum price (for longs) or minimum price (for shorts) that you’re willing to accept. It is enforced onchain so your trade never executes at a worse price.Unlike slippage on a traditional order book — where a large order walks through price levels consuming liquidity — RFQ makers quote a single firm price for your exact size. Your slippage tolerance sets the worst price makers must beat; it is not a slippage allowance in the traditional sense. See Slippage and worst price for details.
Live maker quotes must have at least 1500 ms of validity. Makers may choose longer expiries to increase match odds, but short quote lifetimes protect makers from being locked into stale prices in fast-moving markets, which in turn keeps spreads tight.If a quote expires before settlement confirms, simply request a new one. The process is fast.
Yes - perpetual positions can be liquidated if the mark price moves far enough against your position.Your liquidation price is displayed in the Positions panel. Monitor it, and add margin or reduce your position size if it’s getting close. See Perpetual markets for details.
Up to 20x leverage is available on supported markets, depending on position size.Higher leverage means a closer liquidation price, so start with lower leverage while getting familiar with the platform.
Funding rates are hourly payments exchanged between longs and shorts to keep the perpetual price anchored to its reference market.When the perpetual trades at a premium, longs pay shorts (positive rate); when at a discount, shorts pay longs (negative rate). Payments are applied automatically to your margin, so they can meaningfully erode a position held for extended periods. The current rate is shown as a per-hour figure in the UI. See Funding rates for the full explanation.
Yes - TrueCurrent supports take profit (TP) and stop loss (SL) orders that can be set at entry or added to any existing position at any time.TP/SL triggers are evaluated against mark price. When the trigger fires, the close still executes through the RFQ quote path and enforces your worst_price. See Trigger orders for details.

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Makers

Apply for whitelist access by contacting the TrueCurrent team and completing a testnet integration.You’ll need to demonstrate your system is working correctly on testnet before being approved. See Maker SDK trading for the full process.
The underlying protocol is language-agnostic - any language that can maintain a WebSocket connection, sign quotes, and submit Injective transactions can be used.The testnet E2E reference implementation is in injective-rfq-toolkit. See Reference implementations.
Your price is likely less competitive than other makers.Review your pricing model and reference data sources. Also verify that your authz grants are current and your margin is sufficient. Quote wins that fail at settlement still count against your metrics.
Maker addresses are visible onchain via AcceptQuote transaction history, but the whitelist is not publicly published.You can observe trade history to infer which makers are currently active.
Makers pay a 4 bps (0.04%) protocol fee on filled volume; traders pay nothing.Revenue for makers comes from the spread between bid and ask, net of the 4 bps fee. See Fees and Maker SDK trading for details.
TrueCurrent monitors makers on response rate, price competitiveness, settlement success rate, and overall quoting behavior.Consistently failing to respond inside the active collection window, quoting off-market prices, or allowing settlements to fail due to insufficient margin will negatively affect your standing and may result in removal from the whitelist. See Maker SDK trading for the full criteria.

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Security and technical

Yes. The TrueCurrent smart contract was audited prior to mainnet launch. You can read the full report here: Audit Report – RFQ Smart Contract.
Your existing positions, margin, and funds remain securely onchain and are unaffected if you are temporarily unable to access TrueCurrent.If TrueCurrent is temporarily unavailable, new trades cannot be initiated until access is restored. Your existing positions, margin, and funds remain safe onchain throughout any interruption.
The smart contract’s upgrade policy will be documented upon mainnet launch, with any core settlement logic changes announced in advance through official TrueCurrent channels.
Go to your wallet’s authz settings and revoke the grants you gave to the TrueCurrent contract address to immediately stop the contract from acting on your behalf.See Authorization model for full instructions.
The mainnet smart contract address is inj12stwq95jet57edcu4a65r48r46s9rzrs938n8k.TrueCurrent uses a CosmWasm smart contract on Injective. The security audit report is available to read. See Smart contract for the full message reference.
Yes - TrueCurrent exposes a WebSocket-based RFQ API for programmatic trading, supporting use cases such as arbitrage, systematic strategies, and integrations.The protocol uses gRPC-web framing over WebSocket. Reference implementations are available for SDK trading. See SDK Trading for the taker and maker paths.
Last modified on July 30, 2026