Parchment Is a Perpetual Exchange on Sui

Parchment is a perpetual exchange on Sui. The official site describes it as synthetic perps on Sui. Its official site is parchment.trade, and its official account on X is @tradeparchment.

The site title is "Parchment: synthetic perps on Sui." The page description says: "Trade synthetic crypto and US-equity perpetuals on Sui with Parchment. Every position settles in USDC against an on-chain house pool." The page preconnects to fullnode.mainnet.sui.io, and it sets twitter:site and twitter:creator to @tradeparchment.

The documentation says: "Parchment lets you open leveraged long and short positions on crypto and US stocks. Positions are collateralized in USDC on Sui and settle against an oracle price. The house pool is your counterparty."

Under "At a glance," the docs say "Up to 1000x leverage (SUI up to 500x)." That figure is what Parchment states. SuiWire has not measured it, and this story does not say that leverage is safe. The same section says: "You request a trade and it fills at the next oracle price, at the mid. No spread on normal fills."

The getting-started page says a trader needs "USDC on Sui to trade. USDC is the only collateral" and "A little SUI for network gas." It says connecting a wallet you already have can be "a browser extension or another Sui wallet."

The official app is at parchment.trade. SuiWire did not place a trade there, and this story does not report volume, open interest, or a launch date.

The account @tradeparchment is named Parchment. Its bio reads: "Trade with up to 1000x leverage & zero slippage. A completely fair-launched & fully onchain perpetual exchange. Built on sui." Those lines are Parchment's own words, including "zero slippage" and "completely fair-launched."

On November 6, 2026, @tradeparchment posted: "Up to 1000x on crypto and US stocks. Lose a trade? You earn $PARCHMENT. Stake it for a share of protocol fees." The post links to parchment.trade. The docs also say losing trades earn PARCHMENT, which can be staked for a share of protocol fees. That is Parchment's description. SuiWire is not stating a token price or that the token has value.

SuiWire checked the official site, the docs, and the account on November 6, 2026.