Trade gold long or short, up to 5x (25x overclocked)
Profit from the house pool, in GLD
Own one of 777 bars
80% of every fee the desk collects, streamed to you by weight
Hold the BULLIONS coin
Gold dropped on you every hour
All four pay in GLD. Nothing is pushed to you and nothing expires: every payout waits in a contract until you claim it.
Before you start
You need a wallet on Robinhood Chain (chain id 4663) with a little ETH for gas and some GLD, Robinhood's tokenized SPDR Gold Shares. GLD is the only money on Bullions: every bet, every margin, every payout is GLD.
Bullions is open every hour of every day. Gold spot shuts on Friday at 17:00 ET and does not reopen until Sunday at 18:00 ET; here the price keeps moving through it. The one fixed point in the week is the close, Sunday 18:00 ET, when the week-long round settles, open perps are flattened at one price and the jackpot is drawn. The bell rings again straight after, so nothing is ever shut for it.
Not available in the United States, United Kingdom, Switzerland or Canada.
The floor
The home screen. It shows the live gold price, the change since the last bell, the countdown to the Sunday close and the jackpot pool. If the desk is ever dark, because the keeper has not rung the bell yet, the screen counts down to the next one instead.
Trade: Bull or Bear
Every 15 minutes and every hour a round opens at the live gold price, the strike. You put GLD on Bull (gold above the strike at the close) or Bear (below). When the round closes, the winners split the losers' pot in proportion to their stake, minus a 3% rake, and get their own stake back.
Stake: pick an amount, minimum 0.01 GLD. Tap Bull or Bear, or swipe the card up for Bull and down for Bear.
Lockout: the last 3 minutes of a 15-minute round (10 of an hourly round, 2 hours of the week round) accept no bets.
Week round: one round from the bell to the close. Call the whole week.
Both sides: you may hold Bull and Bear in the same round.
Settlement: the first gold price published after the close decides. Exactly at the strike: everyone is refunded. Nobody on one side: the other side is refunded, no rake.
Claim: after settlement a Claim button appears on the card. Winnings stay yours until you pull them; there is no deadline.
Swipe mode
Deposit once, swipe all week. Open a desk with the GLD you want to play, a cap per swipe and a budget for the session. A key is created in your browser; every swipe is signed by it, no wallet prompt. The key expires at the Sunday close. Your GLD stays yours: Withdraw and Revoke work at any time, and winnings are claimed by your wallet as usual.
The budget is what the browser key may spend in total, and it is the number that matters if the key is ever stolen: the cap only limits one swipe. Adding GLD to the desk later does not raise it, so a top-up is never at risk from a key already out there. To give the key more, open the desk again, which is one signed transaction.
Perps
Long or short gold with GLD as margin, against the house pool.
Leverage: up to 5x. Burn 500 BULLIONS to overclock to 25x until the Sunday close.
Fills: orders fill at the next gold price tick after you submit, plus a price impact that grows with your size against the pool. You do not pick the price; nobody can front-run you either.
Fees: 0.1% of the notional on open and on close.
Liquidation: when your loss reaches 90% of your margin, anyone can close you; the liquidator takes 1% of what is left.
Close: press Close; the position closes at the next tick.
At the Sunday close every open position is settled at one price for everyone.
Profits are paid from the house pool and capped by what it holds. Read that twice.
Bars
A Bullion bar is your share of the house. 80% of everything the exchange earns streams to bar holders, by weight. There are 777 bars in total, poured one at a time, and there will never be more.
Purity
Bars
Weight
Doré
388
1x
8K
194
2x
14K
116
4.5x
18K
58
10x
24K
21
25x
Pour: pay the pour price and you get one bar, sealed. Every bar costs the same, whatever comes out of it. A bar carries no principal, so smelting it returns the yield it has earned, not the price you paid.
Open: a sealed bar opens a couple of blocks later, and the tier is drawn from what is left in the deck by a block hash that did not exist when you paid. You can open it yourself, or someone else's pour opens it for you, or the keeper does. Nobody can pick a tier, including us.
Claim: pull the GLD your bar has earned, any time.
Upgrade: burn BULLIONS to move up one karat, as far as 18K. The cost is 0.25, 0.5, 1 or 2 GLD worth of BULLIONS at the coin's time-weighted price. Half of your pending yield locks into the bar, half is paid to you. 24K is never for sale and never an upgrade: 21 of them exist and they only come out of the deck.
Refine: every 14 days, for 1 BULLIONS. Forget it and your weight starts to decay after 14 days, down to a floor of 25%. Refine and it is restored.
Smelt: burn the bar and take out everything in it: the GLD you locked plus what it earned.
Your locked GLD can never be taken by anyone else's action. Weight depends only on karat, not on how much GLD you locked.
Jackpot
10% of everything the exchange earns goes to the Sunday jackpot. Every GLD you wager during the week is a ticket (from 0.01 GLD total). Every 24K bar is one extra ticket. The draw happens at the close, sealed at the bell and finalized by a block nobody can choose. The pool goes to one wallet.
Broker
Hold a 14K bar or better and you get a referral link. Anyone who arrives through it is bound to you on their first bet, forever, and 1% of everything they wager streams to you in GLD. It comes out of the rake, not out of their odds.
BULLIONS, the coin
BULLIONS is the coin of Bullions. Fixed supply, one billion, never minted again. It trades on Pons against GLD, so every swap pays its fee in gold, and that fee is cut four ways:
a third to the team, for running the thing;
a third buys BULLIONS on the open market and burns it, so every trade shrinks the supply and leaves a real bid on the book;
a sixth to you, if you hold the coin, paid in gold;
a sixth to the house, where the bars, the jackpot and operations share it.
Half of everything the coin earns comes back to the coin.
Hold the coin, stack gold
Every hour the gold drop closes and you can claim what you earned, in GLD. There is nothing to stake, nothing to lock and no deadline: the coin never leaves your wallet, and unclaimed gold keeps piling up until you come for it, so you can ignore the site for a month and take the lot in one transaction.
What you earn is worked out from three plain rules:
You are paid on the lowest balance you held during the period. Buy more halfway through and the extra counts from the next period; sell any part and you are counted on what was left. Turning up an hour before the cut earns nothing.
Every holder is paid, pro-rata. No minimum to qualify and no ceiling: hold one BULLIONS and you are in, hold a tenth of the float and you take a tenth of the drop. Your share never depends on how much anybody else is holding.
The pool, the team wallet, the burn address and the project's own contracts earn nothing. Gold sent somewhere that cannot claim it is gold thrown away.
The drop cuts every hour, so whatever timezone you are in, you are never waiting on it and never have to be awake for it.
BULLIONS is also burned when a bar is upgraded, when a trader overclocks, and when seized gold is auctioned. Nothing prints it.
Straight talk
Binary rounds are a wager. If you cannot lose the stake, do not place it.
GLD on chain is Robinhood's token, with an issuer blocklist and a pause.
The house pool can lose. Bar holders earn the rake and carry that risk.
Nothing here is financial advice. Bullions is code, and the code is public.