Swaps, perpetuals, and prediction markets.

01Swaps

A swap exchanges one held asset for another at the best available route across the networks Summo supports.

Summo verifies a curated set of tokens for identity and safety. Tokens outside that set can also be found and swapped; they have not been reviewed by Summo.

• Routing. Quotes are compared across more than one liquidity source, and the better route is used. Where available, moving the same stablecoin between networks uses a native transfer rather than a swap; its cost is shown in the quote before confirming.
• Slippage protection. A maximum price movement is set before confirming and enforced on-chain by the transaction itself. A swap that would settle outside that tolerance reverts in full: nothing moves, and the assets remain in the account.
• Cross-chain swaps. Swaps between an EVM network and Solana are signed once, on the origin network; the destination leg settles separately once the origin leg confirms, so a cross-chain swap is not instantaneous. In the rare event that the destination leg fails, recovery is handled through the routing partner.
• Fees. Summo’s fee, and any fee added by the liquidity source on a given route, are itemized in the quote before confirmation.

02Perpetuals

Perpetual futures on Summo are executed on a partner derivatives exchange. Trading uses a dedicated perpetuals balance, funded from the account and withdrawable back to it.

Positions are one-way: an order in the direction opposite an open position reduces or closes that position rather than opening a separate, hedged position.

Leverage is set per market:

Both cross and isolated margin are available; some markets are isolated-only. An isolated position can be topped up with additional margin without changing its size.

• Funding. Positions are subject to periodic funding payments, netted into realized profit and loss and shown in the position’s breakdown during and after the trade.
• Liquidation. A liquidation price is calculated and shown on the order confirmation before a position is opened. A liquidation is reported by push notification and in the activity feed. For a cross-margin position, the price shown is a per-position estimate, since liquidation depends on the margin health of the whole account.
• Markets. Listed markets are crypto-only: major assets, DeFi tokens, layer-1 and layer-2 tokens, memecoins, and AI and gaming tokens.
• Fees. Each order carries the exchange’s trading fee and a Summo fee. The total is shown on the order confirmation before an order is placed. Opening a first position also involves a small, one-time on-chain setup step.

Leverage magnifies both gains and losses relative to the margin posted. A position that moves against the account beyond its margin can be liquidated, closing the position and forfeiting the margin posted to it.

03Prediction markets

Prediction markets on Summo are sourced from a partner venue and resolve there, under the venue’s resolution process. Each market states its own resolution rules, shown before a position is taken.

• Outcome shares. A position is a share in an outcome, Yes or No, bought at a price between $0 and $1. A winning share redeems for $1; a losing share redeems for nothing.
• Order type. Orders are fill-or-kill: an order fills completely at the quoted price or is cancelled. The minimum position size is $1.
• Availability. Opening a new position may be restricted in certain jurisdictions, to comply with applicable laws and regulations. Where a restriction applies, it affects only the opening of a new position: closing or redeeming an existing one remains available, so a change in location never strands funds already at stake.
• Fees. A Summo service fee applies to prediction-market trades and is itemized before a trade is confirmed.

Every trade is signed and checked the same way as any other transaction; see the co-signer. For the network fee on the underlying transaction, see fees and gas.