> ## Documentation Index
> Fetch the complete documentation index at: https://docs.speculate.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# FAQ

> Frequently asked questions

Quick answers to the questions that come up most. For the full detail behind any of these, follow the links.

## General

<AccordionGroup>
  <Accordion title="What is Speculate?">
    Speculate is a **competitive social trading platform** — you go head-to-head against other traders in [Competitions](/competitions/overview) and [Duels](/duels/overview), climb a live leaderboard, and win real USDC prizes.
  </Accordion>

  <Accordion title="Is the trading real or simulated?">
    Both, in different places. Competition trading runs on a **\$10,000 simulated practice balance**, priced off real Kraken market data — it's not routed to a live exchange. What's real is the **USDC** that moves through entry fees, prize pools, Duels, and HyperStake. **The trading is simulated, the stakes are real.**
  </Accordion>

  <Accordion title="How do I sign up?">
    Log in with an **email or a wallet** — it's a one-tap login, no separate registration form. The moment you sign up, Speculate creates a **self-custodial trading wallet** for you automatically.
  </Accordion>

  <Accordion title="Is there a mobile app?">
    Not yet — there's no native app. The web app at [app.speculate.trade](https://app.speculate.trade) works great on mobile browsers in the meantime.
  </Accordion>
</AccordionGroup>

***

## Competitions

<AccordionGroup>
  <Accordion title="How do I join?">
    Joining a paid competition is **gasless**. You sign a permit and an authorization — that's it. Speculate's relayer submits the transaction and pays the gas.
  </Accordion>

  <Accordion title="When does a competition start?">
    A competition goes **LIVE one hour after its lobby fills**, giving everyone time to get ready. Private and whitelist competitions skip the wait and go live immediately once full. See the full [lifecycle](/competitions/lifecycle).
  </Accordion>

  <Accordion title="What if it doesn't fill?">
    If a competition never fills by its cancel date, it's **automatically cancelled** and every entry fee is **refunded in full** — no action needed on your part.
  </Accordion>

  <Accordion title="How are winners decided?">
    Rank is decided by **ROI — highest first** — not raw dollar PnL. The **top 40%** of the lobby gets paid; everyone else risked only their entry fee. See [Payouts](/competitions/payouts) for the full math.
  </Accordion>

  <Accordion title="What's the payout split?">
    Front-loaded: **Rank 1 gets 50%**, **Rank 2 gets 20%**, **Rank 3 gets 8%**, **Rank 4 gets 5%**, and the remaining paid ranks share a **17% tail**, weighted toward the higher ranks. Full breakdown and a worked example on [Payouts](/competitions/payouts).
  </Accordion>

  <Accordion title="What if I don't trade?">
    A player who never places a single trade — but would otherwise land in a paying rank — takes a **−20% inactivity penalty** and gets re-ranked below every active trader. You can't sit on your hands and collect a prize.
  </Accordion>
</AccordionGroup>

***

## Duels

<AccordionGroup>
  <Accordion title="How much can I win?">
    Duels are winner-take-all: beat your opponent's ROI and you take **2× your entry fee**, with **no platform fee** taken off the top.
  </Accordion>

  <Accordion title="How long do I have to accept?">
    Every Duel has a **24-hour acceptance window**. If nobody accepts before it closes, the Duel is cancelled and the creator is refunded in full.
  </Accordion>

  <Accordion title="What happens on a tie?">
    An exact draw — for example, neither player trades — isn't scored as a win or loss. **Both players are refunded** their entry in full. See the full [tie-break rules](/duels/rules).
  </Accordion>
</AccordionGroup>

***

## Wallet & funds

<AccordionGroup>
  <Accordion title="Which chains can I deposit from?">
    Speculate supports deposits from **Ethereum, Arbitrum, Base, Polygon, BNB Chain, Optimism, HyperEVM, and Solana**. Deposits on the same network your wallet is on are instant and fee-free; anything else routes automatically through a bridge. See [Deposits](/wallet/deposits).
  </Accordion>

  <Accordion title="Are withdrawals gasless?">
    Yes. You sign a permit and a withdrawal authorization — no ETH required. Speculate's relayer submits the transaction and the gas cost is **deducted in USDC**, not charged separately. See [Withdrawals](/wallet/withdrawals).
  </Accordion>

  <Accordion title="Can I export my wallet?">
    Yes. Your Speculate trading wallet is **self-custodial** — you hold the keys, and you can export it at any time to use anywhere else.
  </Accordion>
</AccordionGroup>

***

## XP & \$SPEC

<AccordionGroup>
  <Accordion title="How do I earn XP?">
    Every competition you enter and every social action you complete adds to your XP total. See [Earning XP](/rewards/earning) for the full breakdown of what counts.
  </Accordion>

  <Accordion title="When do I get $SPEC?">
    XP is your claim on the \*\*$SPEC** token supply. At the end of the **Genesis phase**, all accumulated XP converts trustlessly into $SPEC and is distributed straight to your wallet — no claims process to fumble.
  </Accordion>
</AccordionGroup>

***

## Fees

<AccordionGroup>
  <Accordion title="What are the fees?">
    Speculate takes an **8% platform fee** on every paid competition's prize pool. **Duels charge no platform fee** — winner takes the whole pot. Withdrawals are gasless, with the network gas cost deducted in USDC. Full rate card on [Fees](/about/fees).
  </Accordion>
</AccordionGroup>

<Note>
  **Need help?** Reach the team on X at [x.com/SpeculateTrade](https://x.com/SpeculateTrade), on Telegram at [t.me/speculateapp](https://t.me/speculateapp), or on Discord at [discord.com/invite/speculate](https://discord.com/invite/speculate).
</Note>