Kandle Documentation

What is Kandle

Kandle is a leveraged trading venue for tokens on Robinhood Chain. You can go long or short on tokenized stocks, ETFs and crypto tokens with up to 5x leverage, from the web or straight from Telegram.

• Long or short: profit when a price rises, or when it falls.
• Up to 5x: $100 of margin controls a position of up to $500.
• Your margin is your maximum loss. Every position has its own isolated margin, and it can never cost more than that.
• 0.1% per trade: when you open and when you close. No profit share and no gas.
• Two ways to trade: the web app, and the Telegram bot and Mini App, on one account tied to your wallet.
• Paper trading today: live prices, test USDC. No real money moves yet.

• Connect a wallet

  Sign in once with a free signature. Your wallet is your account.

• Set your trade

  Pick a market, then your USDC margin and leverage from 1x to 5x.

• Trade and track

  Press Open. Follow PnL live and close whenever you like.

Paper trading

Kandle is in its paper trading phase. Prices are live; the USDC is test USDC. No real money moves yet.

• Live prices: quotes come from Robinhood Chain DEX pools via DexScreener; chart candles come from GeckoTerminal.
• Starting balance: every new account starts with 10,000 test USDC.
• Top up: Deposit in the Cashier adds test USDC, up to 10,000 at a time. Balances are capped at 100,000.
• Withdrawals open with real deposits.
• Same rules as real trading: fees, funding, Floors, take-profit, stop and vaults all work as described in these docs.

Getting started

You need a wallet to do anything on Kandle: trade, back a vault, create a market or use the Telegram bot.

1. Connect your wallet. Press Connect in the top-right of the app. Kandle uses Reown AppKit (WalletConnect): browser wallets, mobile wallets by QR code, or email login.
2. Sign in. Sign one Sign-In with Ethereum message on Robinhood Chain. It is free: no transaction and no gas. The same wallet returns to the same account on any device.
3. Check your balance. New accounts start with 10,000 test USDC. Open the Cashier from your account slip to add more (see Paper trading).
4. Write your first trade in the Composer at the bottom of the screen (see The Composer), check the summary, and press Open. The trade prints as a ticket and lands on your Desk.

Robinhood Chain

Markets

Every market is a token on Robinhood Chain. Kandle pins each one to its contract address, because other tokens on the chain reuse the same tickers. Always check the address before you back a market.

The list has 11 Robinhood stock tokens, 6 crypto tokens, and any market users create (see Create a market). Created markets appear here as soon as they go live.

Stock tokens and ETFs

The stock and ETF markets are Robinhood's official tokenized shares (named Company • Robinhood Token). Each token tracks its underlying share. Its price includes a multiplier that reflects dividends and corporate actions, so it tracks total return rather than the share price alone.

Crypto tokens

Crypto markets are native Robinhood Chain tokens. They trade around the clock, and their prices can move much faster than stocks. Consider lower leverage.

Market hours

Stock markets follow the NYSE session. While a stock market is closed, new positions on it are refused and the Composer tells you when the market next opens. Open positions stay open. The chart shades those hours as Closed. Crypto trades 24/7.

Longs, shorts and leverage

A long profits when the price rises; a short profits when it falls. Margin is the USDC you put behind a trade, from $1 to $25,000. Leverage, from 1x to 5x, multiplies it into your position size: position = margin × leverage.

Gains include the 0.1% open and close fees and exclude funding. The floored line is the margin alone; the $0.50 open fee was already paid. Leverage works both ways: a 10% move against a 5x position uses up your whole margin.

Isolated margin

Every position has its own margin. If one position reaches its Floor, only that position closes; your other positions and your free balance are untouched.

Max profit

A position's profit is capped at 100% of its size, which is a 100% move in your favour. When it gets there, it closes automatically. On the example above, that is $500.

The Floor (liquidation)

The Floor is the price at which a position closes automatically. It is set so you can never lose more than the margin behind that position.

How far the Floor sits from your entry depends on leverage: the higher the leverage, the closer it is. The distance is 1 / leverage − 10%, and never less than 5%.

At the Floor the position closes and you lose its margin, never more. Every ticket shows a Floor bar: entry on one side, the Floor on the other, and a dot for the live price. The last stretch before the Floor is hatched. You get an alert in Telegram when a position comes within 3% of its Floor.

Funding counts too: if funding owed uses up a position's margin before the price gets there, it closes as floored.

Fees and funding

On a $500 position, that is $0.50 to open and about $0.50 to close.

Funding

Once an hour, the side with more open interest pays funding. The rate scales with the imbalance and reaches 0.01% per hour only when the market is fully one-sided. The lighter side pays nothing. Funding goes to the market's vault.

Where fees go

70% of every fee goes to the market's vault backers; 30% goes to the Kandle treasury.

Orders, take-profit and stop

• Market: opens now at the live price.
• Limit: waits for a better price. A limit long buys below the current price; a limit short sells above it.
• Stop: waits for a breakout. It triggers when the price breaks through your level.

While a limit or stop order waits, its margin and open fee are set aside from your balance. You can cancel it at any time and get both back. When it triggers, it fills at the market price at that moment.

Take-profit closes the position when the price has moved your way by the % you set (for example +10%). Stop closes it early if it moves against you (for example −5%). The stop must sit inside the Floor. Your Floor never moves.

You can change take-profit and stop after opening: drag the TP and SL tabs on the chart in the Ticker Room, or use /tpsl in Telegram.

With both set, the Composer shows your risk-to-reward ratio: R:R 1:2.0 means the target is twice the distance of the stop.

The Composer

The Composer, pinned to the bottom of the app, is where every trade starts. It reads like a sentence.

▲ Long TSLA with $100 at 5xPosition $500 · Fee $0.50 · Floor 10% below entry · Max loss $100

• Tap any slot to change it: direction, market, margin (chips or custom) and leverage (a slider with a risk dial from Calm to Edge).
• + conditions adds order type, take-profit and stop to the sentence.
• The summary line always shows position, fee, Floor and maximum loss before you commit.
• Pick a market from any list (the Desk drawer, Markets, the Ticker Room) to load it into the Composer.

Type the trade

Press the keyboard button and type instead. The Composer shows what it understood as you type.

› long tsla 100 5x
› short nvda 50 3x tp 10% sl 5%
› long pons $25 2x   # crypto works the same

Words it doesn't recognise are shown crossed out and ignored. Press Enter to set, Esc to cancel.

The Desk and the Tape

The Desk is home. Open positions sit on the table as tickets. Each ticket shows the market, side and leverage, entry → live price, PnL, the Floor bar, your take-profit and stop, and where it was opened (WEB or TG).

• Adjust: opens the Ticker Room to move take-profit and stop.
• Share: makes a trade card.
• Close: close 25%, 50%, 75% or all of it, then confirm.

Closed trades, including partial closes, print onto the Tape below, with how each ended (TP, SL, CLOSED, FLOORED) and a running total. The market drawer on the left lists every market with live prices; press M to show or hide it.

The Ticker Room

Every market has a Ticker Room: live price and 24h change, the market's status and next session, its contract, and a full chart (1m, 5m, 15m, 1h, 4h, 1D). Open it from any market row, or go to /app/room?s=TSLA.

Your planned trade is drawn on the chart: the entry line, the Floor, and draggable tabs, gold for take-profit and oxblood for stop. Drag them, or focus one and use the arrow keys. The Composer follows along. On an open position, dragging a tab moves that position's take-profit or stop.

Keyboard

On the Markets list: ↑ ↓ move between rows, Enter opens the market, L / S start a trade.

Telegram bot and Mini App

The bot is @kandleofficial_bot. It trades on the same account as the web app. Message it a trade the same way you'd type it in the Composer: long tsla 100 5x.

Link your wallet

The bot is wallet-first. New users see Connect your wallet to start. Open the link it sends in your browser and sign in with your wallet; the link is single-use and expires after 15 minutes. From then on, the bot and the web app share one account.

Plain text works too: long tsla 100 5x or short nvda 50 3x.

Alerts arrive when a take-profit or stop is hit, when a position reaches its Floor, when it closes at max profit, and when it comes within 3% of its Floor.

Share cards are images. Their caption carries your referral link, and Send to a chat shares the image to any Telegram chat.

The Mini App (/app) opens inside Telegram with three views (Table, Markets and Tape) and the Composer at the bottom. It opens as your linked account, with no need to reconnect.

Referrals

Every account has a referral link, in two forms: t.me/kandleofficial_bot?start=r_CODE for Telegram, and the site with ?ref=CODE. People who join through it and connect a wallet are credited to you.

• /refer in Telegram shows your link and how many people joined with it.
• Share cards carry your link in their caption.
• Rewards: TBD

Vaults

Every market has its own vault, and the vault takes the other side of every trade on that market. Backing a vault with USDC makes you part of that other side.

• Backers earn 70% of the market's trading fees, all of its funding, and traders' losses. Backers pay traders' profits. The other 30% of fees goes to the treasury.
• Reserved: while a position is open, its max profit (100% of its size) is reserved in the vault, so the vault can always pay. Up to 90% of a vault can be reserved; new positions need free liquidity.
• Withdraw any backing that isn't reserved, at any time.
• APR shows once a vault has an hour of history.
• Markets are isolated: one market's losses never touch another market's vault.

Create a market

Anyone with a connected wallet can launch a market and own its vault.

1. Enter the token by ticker or contract address. It must be a Robinhood Chain token with a live price, at least $25,000 of pool liquidity, and not already listed.
2. Back it with at least $1,000 USDC. Kandle shows the maximum position size that backing supports.
3. Review the terms (max leverage 5x, USDC collateral, 0.1% trading fee, $0 network fee) and confirm. You own the vault, and the market appears everywhere at once: the web app, the Mini App and the bot.

You can withdraw any backing that isn't reserved for open positions at any time. Anyone else can back your market's vault too.

Prices and oracles

During paper trading, one live price drives everything. Before real money, Floors move to hardened prices.

Chainlink publishes a feed for each Robinhood stock token. It reports the token's total-return value: the underlying share price times the token's multiplier. Stock feeds update 24/5, following market hours. A time-weighted price averages the pool over time, so one thin trade can't move it far.

Custody and safeguards

• Paper balances: during paper trading, balances are test USDC held by Kandle's paper engine. Nothing is on-chain, and your wallet holds no Kandle funds.
• Your wallet signs you in, nothing more. The sign-in signature is free and can't move tokens.
• With real USDC: margin moves to on-chain, self-custody margin accounts that your wallet owns.
• Isolated markets: each market and each position carries its own risk.
• Verified tokens: markets are pinned by contract address, so look-alike tokens can't be traded by mistake.
• Audit status: TBD

Risks

• Leverage: small moves become large gains or losses. At 5x, a 10% move against you reaches the Floor.
• Crypto volatility: crypto tokens can move tens of percent in a day. Use lower leverage.
• Liquidity: thin pools can show sharp price swings. During paper trading, Floors use the live DEX price, so a sharp swing can reach one.
• Market hours: stock prices can gap between sessions, so a position can open the next day beyond its stop.
• Paper results: test trades don't guarantee the same results with real money.
• Smart-contract and oracle risk, as with any on-chain protocol, once real money moves.
• Eligibility: stock tokens may not be available in your country. Kandle is not available in restricted jurisdictions TBD.

Kandle is an independent protocol and is not affiliated with, endorsed by or sponsored by Robinhood. Stock tokens are issued by Robinhood; check their terms and eligibility.

FAQ

Glossary

Margin

The USDC you put behind a position, and the most that position can lose.

Leverage

How many times your margin the position is (1x to 5x).

Position

Margin × leverage: the size of your exposure.

Floor

The liquidation price. The position closes there and you lose its margin.

Max profit

100% of the position's size. The position closes automatically when it gets there.

Isolated margin

Each position has its own margin and risk; one can't drain another.

Funding

An hourly charge on the heavier side (longs or shorts), paid to the market's vault.

Take-profit (TP)

Closes the position when it has gained the amount you set.

Stop (SL)

Closes the position early, before the Floor, when it moves against you.

Limit / stop order

An order that waits for a price before it opens a position.

Vault

A market's pool of USDC that takes the other side of trades.

Paper trading

Trading with live prices and test USDC. No real money moves.

Composer

The sentence-style order form at the bottom of the app.

Ticker Room

A market's full page: chart, stats and draggable TP / stop.

The Tape

Your record of closed trades, with a running total.