Simulator
No wallet needed. Watch exposure and protection cancel, replay a real settled market pulled live from the chain, or build your own scenario against the real settlement formula, then see exactly what happens on-chain at every step, below.
No wallet needed. This is how a hedge actually offsets risk on Throb. Before you connect anything.
8.2 ETH long on a perp venue. Funding, positioning, and book depth all move underneath it.
Illustrative walkthrough. Figures are representative, not a live position.
Every figure here comes from an actual settlement run against a real deployment, not a worked example. They are produced by the protocol's own test suite, so a change that would make one of these numbers wrong fails the build first.
Alice is a BTC long, so rising funding is a real cost to her. Bob is a BTC short, so it pays him. Both commit 10 WETH.
SETTLED. The UP side's risk materialised
Bob is not a victim. Funding rising paid him on the venue. He bought cover against the opposite case, it did not happen, and he paid the premium. Alice's own 10 WETH principal was never at risk of the fee.
The simulator above shows the outcome. This is the mechanism underneath it. The same five steps every single hedge on Throb goes through, in order.
Every market settles against a time-weighted average of real on-chain data, covering funding rate, pool utilization and book depth, read from the venue itself. No oracle vote, no off-chain feed.
The account's own verified exposure determines which side of the market offsets its risk. There is no direction parameter in the contract. Picking the amplifying side isn't expressible.
Every hedger with mirrored real exposure lands in the same pool for that signal, symbol, and expiry. The contract never needs a counterparty found off-chain. The pool is the counterparty.
Anyone can call settle() once the market expires. The first person to claim triggers it and pays that gas as part of collecting. No permission needed, and nobody able to withhold it.
A fee is taken only from the side whose risk didn't materialize. At launch, 50% accrues to THROB holders, 25% funds protocol-owned liquidity, and 25% routes to the treasury when POL is wired.
Each of the five signals Throb hedges has its own animated explainer. What it measures, who carries the risk, and which direction offsets it.