Murmur desks

Murmur is a marketplace of autonomous trading desks, each one driven by a single X account. Sign in with X and Starling provisions a desk that reads your tweets and trades them, with its own wallets, its own share token, and a public page anyone can deposit into. Depositors buy shares in a voice they believe in; the desk owner just keeps tweeting.

Every desk trades three venues under one deterministic rule set: Polymarket event markets, Hyperliquid perps (including builder-deployed HIP-3 markets like oil and stock perps), and Solana spot via Jupiter. Murmur is custodial: Starling operates the desks' trading keys, and shares are receipts backed by our accounting. The protections & risks page states that trust model plainly.

Go to /build and sign in with X. Provisioning is fully automated and typically completes in under a minute:

• WalletsThe desk gets its own wallets on every venue. Nothing is shared with any other desk.
• TokenA share token is minted on Solana: an SPL token with symbol m + your handle (e.g. @JackedQuant → mJACKEDQUA). Your X profile photo is the token art, and it follows your avatar when you change it.
• ListingThe desk is registered with the deposit contract, listed on the marketplace, and starts watching your timeline.

One desk per X account. Renaming your X handle later doesn't break anything: the desk is pinned to your account, not the name.

A new desk starts by journaling: the AI reads tweets and reasons, but no real order is placed and deposits sit untouched as cash. The desk graduates to a live desk when it holds $100, measured by what the desk actually holds right now rather than lifetime deposits. Once live, it stays live.

Before graduation, withdrawals are free. Deposit, look around, pull everything back out. You pay nothing. The 1% withdrawal fee only applies once a desk has gone live.

A desk is two strictly separated halves, and the boundary between them is the core security property of the system.

The signal brain is an AI. A fast, cheap model screens each new batch of tweets for trade intent; batches that pass go to a stronger reasoning model equipped with read-only market tools: price quotes, venue liquidity, token verification, market search. Its entire output is a signal:

{
  "asset": "BTC",
  "direction": "long",
  "conviction": "high",
  "style": "perp",
  "invalidation": "loses 61k",
  "thesis": "breakout continuation"
}

The execution engineis deterministic code. There is no model anywhere in it. It independently re-validates the market against live venue data, sizes the position under the desk rules, moves the desk's own cash between venues when a leg needs funding, places the order, and derives stop and target levels.

Why the split matters: the AI's input is tweets, text nobody controls. So the AI is given no tools that move money. No order placement, no bridging, no withdrawals. Those tools simply don't exist in its environment. Even a perfectly crafted malicious tweet has nothing to reach: the worst it can produce is a bad idea, and the engine will only ever express an idea inside the caps below.

Every desk runs the same non-negotiable rules, enforced by the engine rather than the model:

• 10% / callAt most 10% of desk value deployed per trade signal, scaled down by the signal's conviction.
• Gas reserveA small flat reserve (about $10) is held back for gas and bridging costs. The rest of the desk is deployable.
• 3× maxLeverage is hard-capped at 3×: a tweet saying “10x” gets 3×.
• Liquid onlyLiquid books only; thin markets are never traded, and venue minimum sizes are honored.
• Honest skipsIf no venue lists the asset, or the desk can't verify it, the trade is skipped and the reason is journaled. Nothing is approximated into a different trade.

Venues today: Polymarket, Hyperliquid (including HIP-3 builder-deployed markets), and Solana spot via Jupiter. The desk self-funds each venue from its own capital; bridge and gas costs come out of desk value, like any other trading cost.

Anyone can deposit into any listed desk. There is no whitelist. Deposit USDC from any Solana wallet, straight from the desk page. Shares are minted only after the transfer is independently verified on-chain, and always at the next published price (forward pricing), never at a stale one.

Shares are real SPL tokens, minted to the same Solana wallet you deposited from. Price per share is simply desk value ÷ share supply. They are receipts backed by Starling's accounting: custodial claims on the desk, not collateralized positions a smart contract enforces on its own.

To withdraw, you burn your shares on-chain from the Solana wallet that holds them. The burn itself is your proof. The desk then closes your pro-rata slice of the actual book: your fraction of every position, across all three venues, is really sold. You're paid the realized proceeds, capped at your quoted value, minus a 1% fee once the desk is live.

Realized, not marked: the value you see quoted is a display mark. What you receive is what the close actually brings in after spread, venue fees, and gas. On liquid books the two track closely, but they are not guaranteed to match. This is also what protects depositors who stay, since an exit can never be paid from a paper number at everyone else's expense.

Withdrawals normally settle within minutes; multi-venue closes and cross-chain legs can take longer, and stuck work is retried rather than dropped.

• DepositsFree until the desk goes live; 1% once it trades live, and that 1% accrues to the desk's owner.
• HoldingNo management fee, no performance fee.
• Withdrawals1% of realized proceeds once the desk is live; free while the desk hasn't yet graduated to live trading.

While a desk is live, its NAV is republished roughly every 60 seconds. Each executed trade is published on the desk page with the position, the engine's sizing, the AI's reasoning, and a link to the source tweet, so you can always see why a desk holds what it holds. Live system health for every desk (price freshness, deposit/withdrawal availability, automated solvency checks) is on the status page.

• ExperimentalThis is experimental software, unaudited by third parties. It has been through internal multi-agent security reviews with all critical findings fixed, but internal review is not an external audit.
• CapitalDesks trade real markets with real drawdowns, and a desk is only as good as the tweets driving it. You can lose money, up to everything you deposited.
• CustodialStarling operates the desks' keys and publishes the prices. If our infrastructure is down, deposits and withdrawals stall until it's restored.
• Realized exitsRedemptions pay what your slice actually sells for, not the quoted mark. Slippage, venue fees, and gas are borne by the exit.

The full write-up (what the engineering guarantees and what still depends on trusting us) is on the protections & risks page. Only deposit what you can afford to lose.