Permuto Volatility Cup puts svPerps on Chia to the test
On 15 June 2026 Permuto Capital, the joint venture of Chia Network and 3V Capital Partners, started the Permuto Volatility Cup. It is a trading challenge, sponsored by Chia Network, to mark the release of Permuto's svPerps production platform on the Chia blockchain.
What are svPerps?
svPerps (Statistical Volatility Perpetuals) are contracts without an end date on how much US stocks move, not on which direction they move. A live volatility index is built from price movement over the previous 60 seconds and refreshed every five seconds during US market hours. You go long if you expect more movement, and short if you expect things to calm down. According to Permuto:
- Margin is held in wUSDC.b, a USD-pegged token on the Chia blockchain, with up to 10× leverage.
- Collateral stays in a public on-chain account that only blockchain rules can move, and withdrawals can be started directly on-chain.
- A full record of all activity is published on-chain every five minutes.
- svPerps are only for eligible participants outside the United States.
The challenge
- Runs from 15 June 2026 (6:30 AM Pacific) to 10 July 2026 (4:00 PM Pacific).
- Uses simulated funds: 100k for Traders and 500k for Market Makers.
- Two prizes of $25,000 worth of XCH: one for the top trader and one for the top market maker.
- To take part you need a vault in the Chia Cloud Wallet or in the Sage wallet, which you then connect on the Cup's website.
Permuto said the next step is the official launch of svPerps for real trading, with details to follow.
Good to know
Trading with leverage carries a high risk of loss. This is a news summary, not investment advice. For farming nothing changes: this is another project that runs on the Chia blockchain.
Sources: Permuto Capital: Welcome to the Permuto Volatility Cup, Chia Network: Welcome to the Permuto Volatility Cup, Permuto Capital: svPerps