Home / Glossary / Community-listed market
What is a community-listed market?
A community-listed market is a perpetual market that a builder — not Orderly Network — created through Orderly's Perp Anything program. The builder chooses its price sources and trading parameters, runs its market-making (so liquidity depends on the builder) and funds its own insurance fund; Orderly still runs matching, margin and settlement. 64 of SilkDEX's 137 markets are community-listed.
How to recognise one
Its symbol ends with the builder's name — for example PERP_AAPL_USDC_mythos — and the trading terminal shows the builder's badge next to the market.
Builders on SilkDEX
| Builder | Markets | For example |
|---|---|---|
| mythos | 63 | AAPL-USDC, MSFT-USDC, AMZN-USDC, META-USDC, SPY-USDC |
| fastx | 1 | FASTX-USDC |
Before you trade
- Liquidity depends on the builder's market-making: check order-book depth and 24h volume first.
- The builder picks the price sources; Orderly's docs don't list them market by market.
- The liquidation fee is 1.5%, higher than on Orderly-listed markets.
- Tokens that haven't launched are listed as pre-TGE markets with tighter limits.
FAQ
Does SilkDEX run community-listed markets?
No. SilkDEX shows every active Orderly market, community-listed ones included; each is operated by its builder, and Orderly handles matching and settlement.
Are community-listed markets safe?
They carry more risk: liquidity and price sources depend on the builder, and the liquidation fee is 1.5%. Check the depth and keep size and leverage small.
Related: What is a pre-TGE market? · When do stock and gold perps trade? · What is liquidation on SilkDEX? · All terms
Source: Orderly: Perp Anything. SilkDEX figures from Orderly's public API as of 2026-10-13.