Unified Trading
Nunchi opens its unified trading terminal for the future of yield
Be the House. Or Beat the Narrative.
The Yield Exchange introduces a seamless environment to simulate strategies and execute trades against a live, agentic House.
Nunchi today announced a major update to the Yield Exchange, officially opening The Arena to the public.
This release introduces a unified terminal that collapses the gap between high‑fidelity strategy sandbox and institutional‑grade execution into a single, elegant interface, so the experience of learning and doing is continuous.
But unified trading is only half the story.
The House is already live: an agentic maker is quoting USDYP markets. Traders can now compete to beat the House and earn meaningful upside for doing so.
Strategy Sandbox
A high-fidelity sandbox. Traders can test strategies against yield volatility, funding rates, and market movements using simulated capital (USDyp). This allows for the refinement of strategies in a risk-free environment that mirrors live market conditions perfectly.
USDYP markets are live-quoted by the House
Traders can measure performance under real market dynamics (volatility, spreads, fills)
The Arena
The live Yield Exchange. With a single toggle, traders deploy real capital (USDC, USDE, USDH) to execute against the order book. This is where strategy meets execution, supported by deep liquidity and multi-margin capabilities on Hyperliquid.
Deep liquidity and multi‑margin support on Hyperliquid
Professional execution primitives across every market
Powered by Agentic Liquidity
The Strategy Sandbox is underpinned by a global liquidity federation executing on the exchange.
The Nunchi Agentic Binned-liquidity Manager (ABM) dynamically manages liquidity across the order book, ensuring that whether a trader is hedging rates or speculating on volatility, execution is instant and slippage is minimized.
This architecture transforms liquidity provision from a passive activity into an active, algorithmic House that ensures market depth for every Player.
Rewarding the Players: CHIPs
To recognize real participation, Nunchi is introducing CHIPs for trading, an incentives program designed for The Arena, and for prelaunch competition performance.
To recognize active participation in the ecosystem, Nunchi is introducing cHIPs for trading, a new incentives program designed for the Arena.
Incentive Structure Starting today, traders earn cHIPs for every dollar of volume traded in Live Markets. Designed to reward genuine contribution, the program is capped daily per wallet, ensuring a fair distribution of value to the most dedicated participants in the exchange.
Earn CHIPs per $ of volume traded in Live Markets.
Designed to reward genuine contribution, the program is capped daily per wallet to keep distribution fair.
Availability
"Yield is the most fundamental asset in finance, yet the experience of trading it has historically felt fragmented and complex. Today marks a defining milestone. With The Arena, we are giving traders a professional command center. Whether refining an edge in the Strategy Sandbox or executing against the House in the Arena, the experience is unified, powerful, and respects the trader’s time."
— John Doherty, Founder of Nunchi
The Nunchi Yield Exchange is available starting today. The Terminal supports major stablecoins including USDC, USDH, and Ethena’s USDE.
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