# About Chain Sheet

Colophon | Chain Sheet | Updated: 24 September 2026

This is the colophon of Chain Sheet. The sheets themselves compare venues that run a perpetual
futures market with settlement on a public chain: books matched off-chain and settled on-chain,
books that live inside a venue's own chain, and pool-priced venues that hold no book and therefore
carry no score. This page covers the other half of the work — who assembles a sheet, where each
figure comes from, and what the research leaves untouched.

Sections on this sheet: Who compiles the sheet · Three kinds of figure, three kinds of date · What the research does not cover · Paid placement · The domain before this publication.

## Who compiles the sheet

Chain Sheet is put together by a small editorial team publishing under the name of the
publication rather than under personal bylines. There is no author profile to click and no
biography to check: one name signs every sheet, answers for every figure on it, and reads the
mail that arrives when a figure is wrong. The address at the foot of this page is the only one
the site keeps.

## Three kinds of figure, three kinds of date

Every number on a sheet belongs to one of three classes, and the class decides what the date
beside it is claiming.

- **Read.** Fee schedules, market lists, leverage ladders, custody and withdrawal pages, audit
  records and the restricted-jurisdiction clauses of the terms of use come from each venue's own
  documents and from the pages where it publishes its contract specifications. The date is the
  day we read the document — 18 September 2026 for the sheets as they stand — not the day the
  venue last changed it.
- **Measured.** Spread, resting depth and price impact are ours. A script read each scored
  venue's public order book on the BTC perpetual from 20 September 2026 into 21 September 2026, a reading every ten minutes, and the tables
  carry the median with the number of snapshots behind it. None of
  these three is ever taken from a data provider, an aggregator or a venue's own marketing: a
  book reading we did not take is one we cannot check.
- **Reported.** Open interest and 24-hour volume come from the CoinMarketCap snapshot captured
  on 22 September 2026. Each venue reports those two numbers about itself, so they are labelled as
  reported wherever they appear rather than presented as anything we confirmed.

A figure with no source and no date does not go on a sheet.

## What the research does not cover

- No account was opened anywhere, no deposit was made and no order was placed. Nothing here
  reports what a filled trade cost — only what the published schedule says it would have cost
  and what the book, as we read it, would have given up.
- No venue was asked to comment, and no venue saw a sheet before it went up.
- The order-book window is short: a little under a day, from 20 September 2026 into 21 September 2026, a reading every ten minutes, read from
  one machine in one place. Enough to tell a book holding tens of millions from a book holding a
  few hundred thousand; nothing about either book during a news event or seen from somewhere else.
- Custody and security rest on what a venue has published. A withdrawal that works without the
  operator is, until the day it is needed, a procedure described in a document rather than
  behaviour anyone has watched under stress.
- No sheet carries a view on where anyone should trade. A perpetual future is a leveraged
  contract and a position can lose the whole margin behind it.

## Paid placement

Chain Sheet carries commercial placement, and some of the venues named on these sheets are
commercial subjects. The arrangement does not reach the arithmetic. The five criteria and their
weights were fixed on 22 September 2026, before a venue was scored; every
input the formula reads is printed on [how we rate](/how-we-score) beside the points it produced;
and every venue on a sheet carries at least two drawbacks taken from its own documents, the
commercial subjects included. A reader who disagrees with a placing can follow the inputs and
see where a different reading would land.

## The domain before this publication

Until the spring of 2024 echoblock.org carried a different crypto project — a token with a
trading interface attached — which stopped publishing that May and never returned. Chain Sheet
has no affiliation with that project, with whoever ran it, or with any token connected to it,
and none of its name, marks, wording or addresses is reused here. This publication issues no
token, promotes none and implies none, and nothing on this site is an offer of any instrument.
Messages about holdings, allocations or listings from the earlier project cannot be answered:
we hold no records from it and speak for nobody who does.

Compiled by Chain Sheet editors and revised 24 September 2026. Corrections, quoting the sheet and the document that disagrees: sheet@echoblock.org.

Publication of this sheet is bought.