Reader guide

What dClutch is, what works today, and how to see it run. Read this first if you're not trading or running a market yet — just working out what this project is.

What dClutch is

dClutch is a Solana protocol for markets on real-world numbers. A market asks one question — where will SOL/USD be at noon on Friday? — and splits the possible answers into buckets. You buy claims on buckets; claims on the winning bucket pay out. Every claim is fully backed by collateral deposited before the claim existed, so there is no leverage, no liquidation, and no way to lose more than you paid.

A pinned price feed resolves each market — no committee, no discretionary judge. If the feed goes silent, the market takes a fallback outcome that was published and funded before it opened.

What works today

dClutch is not deployed anywhere. There is no live market and nothing to buy. What exists runs on a local test chain, and all of it is in this repository:

• On a local test chain, a market is created, funded, opened, and resolved on chain, after which it begins winding down. Resolution runs through the same Pyth and Wormhole programs that are deployed on mainnet, and they really do check the signatures — but the price they check is a recorded one signed by a test key, not a live Pyth publication.
• Trading between two counterparties, moving claims between holders, and paying out a winning claim run against those same programs in a test harness, at the real compute and memory limits. None of the three has been driven on a test chain yet, and winding a market all the way down to retired has not run anywhere yet.
• The web app connects a wallet, lists markets, shows a market's cells and prices, and reads your portfolio straight from chain state.
• A TypeScript SDK and a command-line client drive the same flows.

Still to come: the Structured product family, the General and Dealer trading paths, a market discovery index, and the devnet deployment itself.

The plan

The demo is the protocol live on Solana devnet, resolving markets about the state of Solana mainnet — pool prices, token graduations, the major feeds. Pyth's devnet feeds already carry mainnet prices for the majors; everything else arrives through a relayer that publishes signed copies of mainnet account data, checked and decoded on chain (docs/design/MAINNET_STATE_RELAY.md). Even live, it will be a devnet demo: unaudited, and not a place to put money at risk.

See it run

# build the programs, boot a local validator, create and open a market
# (about 13 minutes):
tools/gauntlet/run.sh --mode full

# the web app's test suite:
cd apps/dclutch-web && npm test

The run shuts down its validator when it finishes. Resume the saved chain with tools/gauntlet/frontend/resume-validator.sh and point the web app at it to browse the market you just made.

Every instruction, error code, and measured cost is in the reference, generated from the code itself.