Documentation
CSL is a perpetual exchange for CS:GO skins, built on Solana. It enables traders to long or short digital collectibles with leverage, using $USDC as collateral.
Unlike traditional skin marketplaces, CSL does not require users to own or move skins. Instead, it offers synthetic exposure to their prices via oracles and on-chain perp contracts.
Please feel free to navigate through our documentation which includes how-tos for traders as well as technical details for developers.
For Traders
Thorough how-to for traders
📖 How to Trade on CSL
Welcome to CSL Perpetuals — where you can long or short CS:GO skins with leverage. Follow this guide to get started in just a few minutes.
1. Create a Wallet
Download a Solana wallet (we recommend Phantom or Backpack).
Set it up and save your recovery phrase securely.
2. Fund Your Wallet
Get USDC on Solana (can be bought on most exchanges and sent directly).
Deposit it into your wallet.
This will be your trading balance on CSL.
3. Connect to CSL
Go to the CSL trading app.
Click Connect Wallet and select your wallet.
Once connected, you’ll see your balance in the dashboard.
4. Choose a Market
Browse the list of skins (e.g. Dragon Lore, Karambit Fade, M4A4 Howl).
Click on a skin to open its trading page.
Review the current price and chart.
5. Open a Position
Decide if you want to Long (price goes up) or Short (price goes down).
Enter the amount of USDC you want to trade.
Choose your leverage (e.g. 2x, 5x, 10x).
Confirm your trade — your position is now live!
6. Manage Your Trade
Track your open position in the dashboard.
You’ll see your PnL (profit and loss) update in real time.
You can add margin, reduce leverage, or close your position anytime.
7. Close & Withdraw
When you’re ready, hit Close Position.
Your profit (or loss) will be settled instantly in USDC.
Withdraw USDC back to your wallet whenever you like.
✅ Tips for Traders
Start with small positions until you’re comfortable.
Remember: higher leverage = higher risk.
Use shorts to hedge your CS:GO inventory if you own real skins.
Keep an eye on the market — skin prices can move quickly.
For Developers
The nitty gritty for developers interested in CSL, or CSL API
🔑 Core Architecture
CSL Perpetuals is built on Solana using the Anchor framework. The system is composed of:
Smart Contracts – Handle perpetual markets, margin accounts, funding, and liquidations.
Price Oracles – Custom Switchboard feeds for CS:GO skins.
Collateral Vaults – USDC SPL token accounts securing all open positions.
Frontend Client – React/Next.js app communicating with Solana via Anchor client + Wallet Adapter.
📂 Program Structure
1. Market Program
Initializes new skin perp markets.
Stores market config (oracle feed, base/quote size, funding rate params).
Manages open interest tracking.
2. Margin Account Program
Creates user margin accounts tied to wallets.
Tracks deposits, withdrawals, open positions, and unrealized PnL.
Enforces initial & maintenance margin requirements.
3. Perp Engine (vAMM)
Virtual AMM design inspired by Drift & Mango.
Defines how long/short exposure interacts with market liquidity.
Applies funding rates each funding interval.
4. Liquidation Program
Monitors accounts for margin violations.
Allows liquidators to close unhealthy positions.
Applies liquidation penalty → sent to Insurance Fund.
📊 Oracles
Provider: Switchboard custom feeds.
Data Sources: Buff163, Skinport, DMarket APIs.
Aggregation: Weighted index + outlier filtering.
Update Interval: ~30 seconds.
Fallback: Circuit breakers pause markets if oracle feed is delayed or manipulated.
💵 Collateral & Settlement
Collateral Asset: USDC (SPL).
PnL Settlement: All profits and losses settled in USDC.
Insurance Fund: Accumulates liquidation penalties; backstops protocol in extreme events.
⚙️ Key Parameters
Max Leverage: 10x
Initial Margin Ratio: 10%
Maintenance Margin Ratio: 6.25%
Funding Interval: Every 1 hour (adjustable per market)
Liquidation Penalty: 2% of position value
🖥 Developer Tools
Anchor Client
Developers can interact with CSL programs using the Anchor framework.
Copy
APIs (Planned)
REST & GraphQL APIs will expose:
Market prices & funding rates
Open interest per skin
User position data (public)
Historical PnL
🔒 Security
Audits: Scheduled with external firms.
Circuit Breakers: Pause trading if oracle anomaly detected.
Rate Limits: Per-user and per-market limits to mitigate abuse.
Liquidation Incentives: Ensure system solvency during volatility.
🌐 Integration Opportunities
Market Makers: Provide liquidity by running liquidation & funding bots.
Analytics Platforms: Pull data from on-chain accounts + APIs for dashboards.
Custody Partners (Future): Wrap real skins into SPL tokens for collateral.
Bot Traders: Programmatically trade perp markets using Anchor client or API.
Integrations
📊 Oracles
Switchboard – custom oracle feeds delivering real-time CS:GO skin pricing data.
Marketplace Data Sources:
Buff163
Skinport
DMarket
Other third-party APIs as backup feeds
Aggregation: Prices are weighted and published to Solana in near real-time to ensure fair market execution.
💵 Collateral & Settlement
USDC (Solana SPL) – primary collateral and settlement asset.
Phantom Wallet – native wallet support for deposits/withdrawals.
Solflare / Backpack / Ledger – additional wallet integrations.
⚙️ Perpetual Engine
Anchor Framework – Rust-based smart contract development framework.
Virtual AMM (vAMM) – underlying liquidity model for perpetual trading.
Liquidation Bots – incentivized off-chain actors for liquidation execution.
🛡 Risk & Safety
Insurance Fund – protocol-owned reserve to cover bad debt during extreme volatility.
Circuit Breakers – trading halts triggered by oracle anomalies or manipulation.
Audits: [Planned] external code audits for protocol security.
🌐 Frontend & UX
React / Next.js – frontend framework powering CSL dashboard.
Solana Wallet Adapter – seamless multi-wallet connection.
TradingView Charts – interactive charting integration for skin price markets.
📈 Analytics & Monitoring
Helius – Solana RPC & indexing for real-time on-chain data.
Dune Analytics (planned) – public dashboard for volumes, OI, and funding rates.
Datadog (internal) – performance and infrastructure monitoring.
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