Achievements, XP and crates
A score on top of trading. It never changes your fees or your trades. When rewards are off or paused, the app says so and these actions are disabled.
XP
Opening a position earns no XP. XP comes from closes:
- Fee XP: 10,000 XP per $1 of fees Parchment keeps from you (after referral and builder payouts), on closes and liquidations. Only fees collected in the close itself count: when a winning close's profit is queued, the win fee and any close fee taken from profit are collected later at payout and earn no XP.
- Volume XP: a close held at least 60 seconds (not a liquidation, not a wash or hedged trade) earns 1 XP per $1 of the smaller of its open and close size, up to $50,000 of such volume per UTC day, then 1 XP per $4 up to $250,000, then nothing. At most 40,000 volume XP per market and 100,000 in total per day.
- Win bonus: a winning close (not a wash or hedged trade) with at least $10 of profit adds 500 XP times your win streak (the multiplier stops at 10), at most 20,000 XP per day. A loss resets the win streak.
- All-time XP never resets. Seasons keep a separate score that starts over each season.
Levels and tiers
Your all-time XP sets your level, from 1 to 100. Reaching level L takes 15 x L² x (L-1)² XP in total, so each level needs more than the last: level 2 takes 60 XP, level 10 takes 121,500 and level 100 takes 1,470,150,000.
Past level 100, every further 60,000,000 XP earns a Gilt mark. Gilt marks have no cap.
Your level sets your tier:
| Tier | From level | XP |
|---|---|---|
| Scrap | 1 | below 6,000 |
| Draft | 5 | 6,000 |
| Ledger | 15 | 661,500 |
| Folio | 30 | 11,353,500 |
| Sealed | 45 | 58,806,000 |
| Gilded | 65 | 259,584,000 |
| Illuminated | 85 | 764,694,000 |
Daily drop
Claim once per UTC day for XP: 1,000 XP, plus 100 per streak day, up to 3,000. The streak counts up to 30 days and starts over if you miss a day.
Crates
Every 100,000 XP earns a crate. There is no limit on how many you hold and no wait between opens. Crates never pay tokens or USDC.
- Crate reward (on chain). Each crate grants either 2,500 XP (60%) or one of 33 cosmetics (40%): frames, seals, stamps, themes, avatars, name styles, chart planes, share cards and 7 PnL card skins. Rarer cosmetics drop less often.
- Bonus roll. Each opened crate also rolls a bonus from Parchment's service: a 1 in 4 chance of a PnL card skin, or else a 1 in 3 chance of another cosmetic. So about half of all crates drop one bonus item. The bonus never grants XP.
Seasons
Season 1 starts at launch and runs for 90 days. Season XP counts the XP you earn during the season and starts over in the next one; all-time XP and tiers carry on.
Season 1 has six quests:
| Quest | Goal | XP |
|---|---|---|
| Opening Bell | 3 closes | 3,000 |
| Grand Tour | Trade 5 markets | 10,000 |
| Clean Win | A win of 25% or more on margin | 5,000 |
| Winning Run | A 4-win streak | 15,000 |
| Daily Ritual | A 14-day daily-drop streak | 25,000 |
| Volume Run | $50,000 of volume | 10,000 |
For Opening Bell and Volume Run, a close counts only if it is a normal close (not a liquidation) of a position held at least 60 seconds, and not a wash or hedged trade. Clean Win and Winning Run count winning closes that are not washes or hedged trades.
Each season also has three awards:
| Award | How | XP |
|---|---|---|
| Season Regular | Season rank 10: 2,000,000 season XP | 50,000 |
| Season Laureate | Season rank 50: 50,000,000 season XP | 500,000 |
| Season Hundred | Top 100 by season XP at the season's end, with at least half of it from fee XP | 1,000,000 |
Your season rank is the square root of your season XP divided by 20,000, rounded down, up to rank 50. Season Regular is rank 10 and Season Laureate is rank 50.
Achievements
Achievements grant XP once, when you first meet the goal. Some achievements, levels, tiers and season awards also unlock cosmetics in the app. The only rewards that mint PARCHMENT are four fee-backed achievements.
A qualifying close below is a normal close (not a liquidation) of a position held at least 60 seconds, and not a wash or hedged trade, the same rule as volume XP. Fee credit is the fees Parchment keeps from you, as described under Fee-backed PARCHMENT.
Checked on chain
| Achievement | Goal | XP | PARCHMENT |
|---|---|---|---|
| First Ink | Open your first position | 1,000 | |
| Cartographer | Trade 3 markets | 5,000 | |
| Navigator | Trade 8 markets | 25,000 | |
| Atlas | Trade 16 markets | 100,000 | |
| Steady Hand | Win at 10x or more | 10,000 | |
| Iron Nerve | Win at 50x or more | 50,000 | |
| Tightrope | Win at 100x or more | 150,000 | |
| Good Entry | A win of 50% or more on margin | 10,000 | |
| Double Up | A win of 100% or more on margin | 40,000 | |
| Moonshot | A win of 500% or more on margin | 250,000 | |
| Hat Trick | 3 wins in a row | 5,000 | |
| Hot Hand | 5 wins in a row | 20,000 | |
| Untouchable | 10 wins in a row | 150,000 | |
| Regular | A 7-day daily-drop streak | 10,000 | |
| Devotee | A 30-day daily-drop streak | 60,000 | |
| Habit | A 100-day daily-drop streak | 300,000 | |
| Almanac | A 365-day daily-drop streak | 2,000,000 | |
| Patron | $10 of fee credit | 10,000 | 20 |
| Benefactor | $50 of fee credit | 50,000 | 80 |
| Underwriter | $250 of fee credit | 250,000 | 400 |
| Guild Member | $1,000 of fee credit | 1,000,000 | 1,500 |
| Guild Elder | $5,000 of fee credit | 4,000,000 | |
| Treasurer | $25,000 of fee credit | 15,000,000 | |
| Chancellor | $100,000 of fee credit | 40,000,000 | |
| Patron Saint | $250,000 of fee credit | 80,000,000 | |
| In the Black | $1,000 of net realized PnL | 20,000 | |
| Ledger Green | $10,000 of net realized PnL | 150,000 | |
| Gold Leaf | $100,000 of net realized PnL | 1,500,000 | |
| Collector | Open 10 crates | 5,000 | |
| Curator | Open 100 crates | 50,000 | |
| Errand Runner | Complete 10 quests | 25,000 |
Wins count only if they are not wash or hedged trades.
Checked by Parchment's service
These grant XP but never mint.
| Achievement | Goal | XP |
|---|---|---|
| Inkwell | $10,000 of volume in qualifying closes | 2,000 |
| Scrivener | $100,000 of volume in qualifying closes | 10,000 |
| Bookkeeper | $1M of volume in qualifying closes | 50,000 |
| Merchant | $10M of volume in qualifying closes | 300,000 |
| Magnate | $100M of volume in qualifying closes | 2,000,000 |
| Leviathan | $1B of volume in qualifying closes | 10,000,000 |
| Apprentice | 10 qualifying closes | 3,000 |
| Journeyman | 100 qualifying closes | 25,000 |
| Master Scribe | 1,000 qualifying closes | 250,000 |
| Archivist | 10,000 qualifying closes | 2,500,000 |
| Phoenix | A win within 7 days of being liquidated | 20,000 |
| Weathered | 30 active days and 20 qualifying closes with no liquidation | 30,000 |
| Unsinkable | 100 active days and 100 qualifying closes with no liquidation | 200,000 |
| Stakeholder | Stake PARCHMENT | 5,000 |
| Long Hold | Keep a stake for 30 days | 40,000 |
| Keystone | Keep 10,000 PARCHMENT staked for 30 days | 150,000 |
| First Harvest | Release your first unlocked PARCHMENT | 5,000 |
| Full Harvest | Fully vest a PARCHMENT reward lot | 30,000 |
| Recruiter | 1 referred trader pays $10 of fees | 10,000 |
| Herald | 10 referred traders pay $10 of fees each | 100,000 |
| Town Crier | 50 referred traders pay $10 of fees each | 750,000 |
| Patronage | Trade through a builder code | 3,000 |
| Architect | Your builder code serves 10 traders who pay $10 of fees each | 150,000 |
An active day is a day with a qualifying close. Weathered and Unsinkable count days and closes since your last liquidation.
Fee-backed PARCHMENT
Credit comes from house-retained fees on your closes and liquidations, after referral and builder payouts: the open fee plus fees the house keeps in the close transaction (not the win fee or close fee taken from queued profit, which are collected later), or only the house-retained loss fee on a liquidation by someone else. The four that mint pay 20 PARCHMENT at $10 of credit, 80 at $50, 400 at $250 and 1,500 at $1,000; no achievement can mint more than 25 PARCHMENT per $1 of credit. Self-liquidations and wash or hedged trades earn no credit.
Collected achievement PARCHMENT is limited to 5 per wallet and 1,000 across Parchment per UTC day. Anything over the limit stays pending for a later day; it is not lost.
Leaderboard
The app's Leaderboard ranks traders over a Daily, Weekly, Season or All-time window, by PnL (realized), PnL %, Volume, Win streak or XP. Your own row is marked.
Beside it, a live ticker shows big opens and wins, and the Wall of Shame shows fresh liquidations. Each liquidation can be shared as a rekt card with your referral link.