Current status (v1)
The core Anchor program is live on Solana mainnet and passing a 21-test integration suite: oracle pushes with EMA index and circuit breaker, bonding curve, graduation into the internal AMM, CDP shorts, clamped funding, liquidations with insurance top-up, the staleness guard, admin parameter updates, fee withdrawal, keyless identity fee escrows, value-based item swaps against registered vaulted copies, and an external-venue market running off a treasury reserve with an oracle-pushed mark. The v1 price feed (the relayer) is built (TypeScript,relayer/ in the repo): Magic Eden listing-ladder estimation for NFT floors, a live keyless
TCGplayer source for raw cards plus config-priced graded mode with live Pyth
SOL/USD conversion, a Meteora DAMM mark source for external venues,
disagreement gates, and YAML per-market config. On 2026-07-23 the full stack
ran end to end against live Mad Lads data: the relayer
pushed the real index, then the market ran curve launch, graduation, AMM
trading, a hedger short, and funding accrual. On 2026-07-24 the card pipeline
repeated the exercise live (Umbreon VMAX Alt Art, swsh7-215 RAW, $2,137.76 on
TCGplayer, on chain at 28.32 SOL within 2 bps of source) and the Meteora mark
source was verified against a live SOL-paired DAMM pool.
An adversarial review pass on the funding, liquidation, and vault-conservation
math ran on 2026-07-24; the three findings it produced (funding-crank dt cap,
oracle pushes refused while frozen, vault rent buffer) are fixed and covered
above.
commas is live on Solana mainnet: launches, trading, item swaps,
hedging, and the oracle feeds all run in production. Remaining build-out:
additional graded card-price API sources and the independent audit work
below.
The commas token
A commas token will launch on pump.fun. The announcement and the official contract address will come from @commasdotart on X and nowhere else; treat any other address as fake. The protocol does not depend on it: every market’s synth token works the same with or without it.Planned work
Roughly in build order. Items are planned, not promised.Meteora external venue (shipped in v1 form)
Done on chain: markets carry a venue, andcreate_external_market
attaches a market to a token launched on Meteora DBC into a DAMM pool, with
treasury-reserve supply (open_short draws from a program-held reserve
whose balance is the physical open-interest cap) and an oracle-pushed mark
(push_mark) computed by the relayer
from Meteora’s public pool API. The internal curve and AMM remain the default
venue.
Remaining on this path: a commas-branded DBC config key so launches run
through Meteora end to end from our UI (today an external launch happens on
Meteora’s side first, then the market attaches).
Production graded-card sources
The relayer’s raw-card source (TCGplayer via pokemontcg.io) is live. Graded production means wiring the full oracle pipeline: subscription aggregator APIs plus eBay sold prints plus tokenized-venue cross-checks, MAD outlier rejection, sanity bands from capitalized bids, cross-source agreement gates, and paging alerts. The NFT side additionally gains a Tensor bid leg (see NFT pipeline) once API keys are provisioned.On-chain staleness guard (shipped)
Done: a per-marketmax_index_age_secs now rejects open_short,
withdraw_collateral against debt, accrue_funding, and liquidate with
IndexStale when now - index_last_ts exceeds it, alongside an admin
update_market_params instruction (curve virtuals immutable). See the
staleness guard.
Physical delivery valve (shipped as item swaps)
Superseded by something stronger than the original one-directional design: item swaps let holders deposit a registered vaulted-card NFT of the matching card+grade for tokens of equal value at current prices, and let any token holder swap tokens back for a copy from escrow. Bidirectional, value-based (index over mark EMA, so no fixed tokens-per-item rate to game), and funded by a preminted item reserve so supply stays fixed. Remaining on this path: on-chain collection verification to replace admin-gatedregister_item.