> ## Content Index > Fetch the complete content index at: https://blog.dega.trade/llms.txt > Use this file to discover other available public pages before exploring further. # Introducing the Dega journal - URL: https://blog.dega.trade/introducing-the-dega-journal/ - Published: 2026-11-09T09:00:00.000Z - Updated: 2026-11-10T20:11:11.000Z - Description: What Dega is, what it is not, and what this journal will publish. Nothing has launched, so every figure here is a design figure from the yellow paper. - Author: Dega editorial - Tags: Announcements, #mosaic Someone tells you a prop firm routes your trades to a real exchange. A comparison site says the same. Then you read the firm's own terms, and the account is simulated. The Dega yellow paper records exactly that: a comparison site describing firms as offering real onchain execution when their own documentation said otherwise. This journal exists so that what Dega says and what Dega's rules say are the same thing. ## What Dega is, and what it is not Dega is an onchain proprietary trading firm built on Lighter and settled on Robinhood Chain. It is not an exchange, a broker, a custodian or an investment manager. It does not take money to trade with, and it does not hold trader funds. The USDG you use to pay the fee and to receive payouts sits in a wallet you control through a passkey. The account is simulated. Orders never reach Lighter's order book, and the balance is not your money and is never withdrawable. [What a simulated account means](https://blog.dega.trade/what-a-simulated-account-means/) covers this in full. ## Why it exists The paper's mission is to bring the capabilities of a trading firm within reach of individual traders, and to spread the cost of building and operating that infrastructure across a shared platform. The product fits in a few sentences. You pay $150 once for a $10,000 simulated account, priced on Lighter's live perpetual futures for BTC and ETH. Reach a 10% profit target without touching a 3% daily loss limit or a 6% static maximum drawdown, and you move to a funded account, subject to capacity. There is no minimum number of trading days, no time limit and no consistency rule. Passing itself pays nothing. On the funded account you keep 80% of profit, paid in USDG on Robinhood Chain and settled by smart contract, with no discretionary approval in between. Payouts are paced at up to $800 per person per day, within a lifetime limit of 20% of the deployable reserve at the moment the account is funded: $4,000 at the recommended $25,000 seed. Dega hedges its total payout obligation with real positions on Lighter. Those positions are Dega's own, never yours. Because the obligation is funded, Dega does not need minimum days to hold the pass rate down. [How the Dega assessment works](https://blog.dega.trade/how-the-dega-assessment-works/) walks through it step by step, and [same $150, different ending](https://blog.dega.trade/same-150-different-ending/) shows what the fee buys. ## What the journal will publish - **Announcements.** What changed and what is next, starting with this post. - **Product.** How the assessment, the simulated account and the funded stage work, one piece at a time: [leverage](https://blog.dega.trade/leverage-is-10x-on-btc-and-eth/) and [fees and slippage](https://blog.dega.trade/fees-and-slippage-on-a-simulated-account/). - **Rules.** The limits and what happens at their edges: [breach disputes](https://blog.dega.trade/breach-disputes-and-how-they-are-reviewed/), [idle accounts](https://blog.dega.trade/idle-accounts-close-after-90-days/) and [prohibited conduct](https://blog.dega.trade/what-counts-as-prohibited-conduct/). - **Payouts.** USDG on Robinhood Chain and the caps that pace payment: [the lifetime payout limit](https://blog.dega.trade/the-lifetime-payout-limit/), [pending claims](https://blog.dega.trade/pending-claims-settle-in-order/) and [the public reserve](https://blog.dega.trade/why-the-reserve-is-public/). - **Research.** The yellow paper and the evidence behind its figures: [reading the yellow paper](https://blog.dega.trade/reading-the-yellow-paper/) and [why the fee is $150](https://blog.dega.trade/why-the-fee-is-150/). - **Engineering.** How Dega is built on Lighter and Robinhood Chain: [pricing, settlement and the hedge on one chain](https://blog.dega.trade/pricing-settlement-and-the-hedge-on-one-chain/). ## Publishing accurately The paper is direct about the problem in this category. A firm earning most of its revenue from traders who fail has an incentive to make failure likely, and to obscure how likely it is. Its answer is to publish the realised pass rate accurately and let traders decide with the real number in front of them. Misleading pass-rate statistics are a named regulatory exposure, so that is the safe position as well as the honest one. There is no realised pass rate yet. When Dega has a real one, the paper's obligation is to publish it accurately. The same standard runs through the rest. Every figure in the paper is marked as verified, derived, a policy or an assumption, and section 11 lists what is not yet known. When the fee falls or the lifetime limit rises, it happens on a measured trigger, recorded at the daily solvency check and published, not on judgement. ## Nothing has launched Every figure in this journal is a design figure. The paper sets a gated launch sequence and no dates, because dates depend on build progress. Each gate opens only when the one before it meets its entry criteria, and no paid users come before the fifth, a capped paid beta. When that changes, this is where it will be written down. --- *Nothing has launched. Every figure in this post is a design figure from the Dega yellow paper, version 2.0, dated 22 September 2026\. Dega is not an exchange, broker, custodian or investment manager. Accounts are simulated: orders do not reach Lighter's order book, and the account balance is not your money. Dega's hedge positions are Dega's own, never yours. Payouts are subject to a lifetime limit of 20% of the publicly visible reserve and a per-user cap of $800 a day.*