We’re celebrating the release of the Permuto Statistical Volatility Perpetuals (svPerps) production platform by running a challenge, sponsored by Chia Network Inc., to see who has the hottest hands at not just reading volatility, but trading against it.

The Volatility Cup will allow participants an opportunity to learn and use the full functionality of the svPerps platform before official launch. Each participant (or team) will receive a tranche of simulated funds based on their classification, Trader (100k) or Market Maker (500k). They can then trade the funds against the available markets until the end of the challenge for a chance to win $25,000 worth of XCH.

How Do I Join?

To participate, you first must create a vault. There are two options available: the Chia Cloud Wallet and the Sage Wallet. After you’ve set up a vault, to enter the challenge go to the official site for the Permuto Volatility Cup, connect your wallet, and begin trading.

When is it?

The challenge will begin on Monday June 15, 2026 at 6:30AM Pacific Time and will end on July 10, 2026 at 4:00PM PT.

Who Can Play?

Eligibility information for the Permuto Volatility Cup challenge can be found in the terms and conditions here. The official launch of the svPerps offering will only be available to those outside the US.

What Can I Win?

There are two categories in the challenge: The top trader (highest net trading profit) and the top market maker (highest trading profit while keeping a seven day trailing 98% or more uptime of having both a bid and an ask on all three pairs).

The top participant (or team) in each category will be awarded $25,000 worth of XCH.

What’s Next?

The next step in the process is to officially launch the svPerps platform for real trading. We’ll be following up with more details in the coming weeks on the launch and how traders can start trading against market volatility!