Trion is live. CA: 0x4855024b676c8C5779c836E35F469C462Bfb7f4b The market for compute. Buy and sell options on the price of an H100 GPU-hour, fully collateralized, on Robinhood Chain. trion.market

Trion Trading Competition starts next week. $3,000 prize pool for the top 5 traders on the CMPT-USD perp beta: 1st $1,200 · 2nd $750 · 3rd $500 · 4th $300 · 5th $250 You can even hook up your AI to trade for you.

The NVIDIA RTX PRO 6000 Blackwell Workstation Edition has officially been purchased. First GPU of the fleet. 1 down many more to come.

8 beta testers signed up for Trion so far - looking for 7 more people. We're putting $20 of USDG straight into each tester's trading account, so they can trade CMPT-USD (the price of one H100 GPU-hour) with real money on mainnet without touching their own funds. No gas needed to get started. Beta testers get: - $20 USDG to trade with on mainnet - A direct line to us for bugs and feedback, and a say in what we build next sign up below. trion.market/beta/

Compute is the commodity that world runs on now. Big Tech companies are spending over $700B this year, most of it on AI data centers, and CME is getting ready to list futures on the GPU-hour. A potential problem is when price goes up. The H100-hour on our index went from $2.06 in January to $2.68 in July. That's 30%. If your whole business runs on GPUs, that's your margin getting eaten, and there's been basically nothing you could do about it... until now. So we're building the market for it. On Trion one contract is one H100 GPU-hour. Run a GPU for a month and that's equal to 730 contracts. This our compute market you can lock your bill, put a cap on it with options, or just trade it if you have a directional view. If you own GPUs you can do the opposite and lock in what you earn. The part we're most excited about is agents. An agent knows exactly how much compute it's burning, all day, every day. This allows agents to hedge their own compute without anyone babysitting them. The chart shows what a 20% move does under each approach. The CMPT-USD perp is still in testing. We don't think people realize yet how big that gets over the next couple of years.

The bar for AI on crypto exchanges is low and there are so many cool things we can implement. We want to be on the cutting edge of that. AI agents are the future and we need to make exchanges AI friendly. Next up: letting agents hedge the compute they run on. I will talk about this in the next post.

We gave Claude Code a Trion trading key. MCP is working you'll be able to connect any AI to our exchange. It read the CMPT-USD perp we're testing, placed two post-only orders 0.5% from mid, checked them, and cancelled them, all through Trion's MCP server.

I will be purchasing the first GPU tomorrow. NVIDIA RTX PRO 6000 Blackwell Workstation Edition. Exciting to get start our GPU fleet. We will continue to grow it with fees collected from trading.

Trion Agent Kit now live. Let your code or AI trade inside limits you set. Agent keys can't withdraw. Revoke anytime. TypeScript SDK · Python SDK · MCP connector for Claude, ChatGPT and more. Docs: trion.market/docs

We're building the Trion SDK. AI agents run on compute and pay for every hour of it. Soon they'll trade it: read the price, watch the book, sign with their own key, and be able to hedge their own GPU bill. Built for agents. trion.market

Don't forget to sign up for beta. I need you guys to abuse this so we can fix anything that comes up during testing. That is just the nature of things. Testing underpressure and usage is the best way to improve and harden the exchange. trion.market/beta/

Working on optimization we need to have the speed and executions above industry standards. The little things matter.

I've been testing the CMPT-USD perp on Robinhood Chain this morning. This is one real session on the desk: the book filling, limit orders resting, a market buying and selling filling, TP/SL and a stop armed, cancel-all, then a one-click close. What's been built so far: • A perpetual on the Compute (CMPT) index, margined in USDG • An off-chain matching engine, with every fill settled on-chain in signed batches • A market maker quoting ~24 price levels a side • TradingView + Vela charts • 2x leverage cap and 0% fees while in beta Testing this morning also hardened settlement against lagging RPC nodes, stale oracle prices and nonce reuse.

GM, Let’s get back to work. I had a few people sign up to be beta tester. If you’re interested don’t forget to sign up. trion.market/beta/

Sign up to test beta perps. Long or short the price of compute. Coming soon. trion.market/beta Looking to add anyone who's willing to test and give feedback. I will reach out tomorrow.

Working in the beta sign up page will post when finished. I’m hoping to have beta testers start testing tomorrow so that we can make this the best trading experience. Your feedback is very important.

Everything runs on compute. You can now trade it on $TRION.

Quick list of things to get done by end of week what we're building next. • Open the Trion Discord • Improve the trading experience • Liquidity bootstrap: deeper order books on every strike • Community liquidity bootstrap for perps • Buy our first GPUs • Put the fleet to work renting out compute • Holder discounts on Trion GPU time • Grow the fleet with the $TRION tax • Build and launch cryptos first compute perps We'll post updates as each one ships. app.trion.market

Compute is the most valuable resource in the world right now, and I believe it only goes up from here. Every model, every agent, every AI product runs on it. Demand is exploding. Supply is selling out everywhere. Here's my thesis, and our plan for Trion. Demand is exploding • The biggest cloud providers are projected to raise capex 98% in 2026, then another 50% in 2027 (TrendForce). • Goldman Sachs estimates more than $5 trillion of cumulative AI capex from 2025 to 2030 (cited by BlackRock). • AI tools deliver value an order of magnitude greater than their cost (SemiAnalysis). At that return, demand doesn't blink at price. Supply is sold out • By spring 2026, on-demand GPU capacity was sold out across every GPU type, and capacity coming online through September was booked in advance (SemiAnalysis). • H100 contracts signed 2-3 years ago are renewing at the same rates, some for 4 more years. • On AWS, buyers were fighting to pay $14 an hour per GPU for B200 spot capacity. The inputs are repricing • Server DRAM contract prices rose 64% in 2H25, with a further ~270% jump expected in 2026 (TrendForce). • HBM could climb another 70-140% in 2027. • Every GPU is built on memory. When memory reprices, compute follows. The price has turned A year ago, the consensus was that GPU rental prices would keep falling. The opposite happened. H100 1-year rental contracts climbed almost 40%, from $1.70 an hour in October 2025 to $2.35 by March 2026 (SemiAnalysis). My thesis For the next two years, compute gets scarcer and more expensive. Demand is growing faster than fabs, memory lines, power and data centers can be built, and new capacity is spoken for before it arrives. Compute is the defining commodity of this era, and every great commodity gets a great market. CME plans to list GPU futures on October 5, pending CFTC approval. BlackRock says compute is becoming "a distinct, large, and increasingly investable economic resource." Wall Street is starting to price compute. Trion already trades it. Live on Trion today • CMPT: a public price for one H100 GPU-hour, from six named venues • Calls and puts on CMPT, on Robinhood Chain • Perps are next. The plan: own the compute itself • The $TRION tax buys GPUs • We rent them out • Holders get discounted access • Rental income buys more GPUs The fleet grows one GPU at a time, and every GPU helps buy the next. The endgame: GPU-backed perps Perpetuals on the price of compute, backed by hardware we actually own. The world is going to run on compute. I'm building Trion to be where it gets priced, traded and owned.