Kuru: Monad spot trading, delegated accounts and shared withdrawal capacity

Kuru trades tokens through a central limit order book recorded on Monad. A spot purchase exchanges the quoted assets themselves: a WETH/USDC buyer spends USDC and receives WETH. The current documentation identifies Spot V2 as live, including One Click Trading. Testnet remains a separate environment for integration work.[4]

The 15 October 2026 mainnet deployment record lists nine USDC markets: MON, WETH, cbBTC, XAUt0, NVDAx, SPYx, QQQx, TSLAx and EWYx. The published order-admission range is 10 to 5,000,000 USDC of quote value before fees; it is not a minimum for every partial fill. These are deployment parameters, rather than measured liquidity or a guarantee that a large order can execute.[3]

Matching considers both resting orders and passive price bands. Better prices execute first, so a buy limit is a maximum acceptable price rather than the price charged for every fill. At an equal price, passive liquidity takes priority; resting orders then follow arrival order. A visible price level can therefore contain liquidity with different execution priority.[5]

An exact-input swap is a separate flow with minimum output. Automated TP/SL triggers and TWAP execution remain work in progress; storing an instruction is not an operating monitor or scheduler.[6]

Self-trade prevention follows the trading account, not the submitting bot. A native order that meets the account’s own maker order cancels that maker and continues matching. An exact-input swap instead reverts when it encounters the same account’s resting liquidity. Running two authorised bots does not give them separate identities for this check.[7]

Reduce After Block reduces stale quote exposure after a chosen block, but it does not cancel the order. A market-minimum portion may still trade at the old price, and funds remain reserved until the engine touches the order or it is cancelled or replaced. This makes the setting useful for reducing exposure without promising a complete exit when a connection is lost.[8]

Subaccounts separate balances, orders and passive positions for different strategies. An order cannot automatically use another subaccount’s funds. All accounts under the same owner nevertheless share signer permissions, including future subaccounts; a bot authorised for the family is not confined to the balance labelled for its strategy. Internal transfers move free funds, not the associated orders or liquidity positions.[13]

One basis point equals 0.01%. Protocol fees use the quote asset. At tier 0, a hypothetical 1,000-USDC execution incurs 0.10 USDC as maker or 0.20 USDC as taker, before rounding and other charges. A single limit order can incur taker fees on its immediate fill and maker fees on its later resting fill.[9]

The account fee-tier endpoint reports the latest indexed assignment, with exchange defaults when the assignment is missing or inactive. Subaccounts inherit their root account’s tier. It is not a complete all-in quote: market caps, referral adjustments and application charges still need their own treatment. The published thresholds use strictly greater-than signs, so an independently calculated volume should not be substituted for the assigned tier.[10]

An application can request an additional builder charge within the owner’s approved cap: it reduces base-asset output on buys and quote proceeds on sells. Cancelling an unfilled balance releases its reservation but does not reverse fees on executed trades.[9]

Direct chain activity also needs MON for gas. Relay can sponsor supported signed trading actions, using a separate trading wallet. That sponsorship is specific to the supported submission path; it should not be read as a promise that every deposit, approval, withdrawal or independently broadcast transaction has no network cost.[26]

A trading balance has three distinct components: available funds, assets reserved for live orders, and inventory committed to passive liquidity. A buy reservation includes fee headroom; a sell reserves the asset being sold. Passive inventory can change composition as other users trade against it. Adding only available and order-reserved balances can therefore understate the account’s total position.[12]

Ordinary withdrawal capacity is shared by all accounts and supported tokens. The current bucket holds at most US$200,000 and refills continuously over approximately 24 hours. Deposits add separate, single-use credit expiring after 24 hours; withdrawals consume the oldest unexpired credit first. Trades and internal transfers create no capacity. If the full request cannot be paid, it reverts: there is no partial payout or queue. Another user can consume capacity after a preview.[15]

Capacity valuation uses fresh token prices, not the last trade alone. Mainnet identifies Chainlink sources for MON, USDC, WETH and cbBTC, and Kuru-published references for other assets. USDC is not hardcoded at one US dollar. Stale prices can therefore prevent funding or withdrawals even when the trading interface is reachable.[3]

Global or token withdrawal freezes also block approved payouts; protocol pause blocks deposits as well. An authority-approved withdrawal is a distinct route with owner authorisation and continuing balance, price, freeze and pause checks. It is not an automatic overflow queue for the ordinary bucket.[16]

The approved-payout documentation differs on the precise sequence. The user guide describes Kuru’s signature followed by a six-hour timelock; the contract reference instead specifies an owner-signed request submitted by the withdrawal authority. The exact route needs confirmation before relying on a release time.[15][16]

The owner’s wallet and deposited trading funds are different locations. AccountCore holds deposited assets and tracks balances, while the owner controls the account. An open order commits funds until execution or release, and a passive position commits inventory until it is removed. A wallet connection alone does not mean all assets remain outside exchange contracts.[11]

Revocation or expiry blocks future authorised actions, but does not cancel existing orders or remove passive liquidity. There are no documented per-market or spending caps on ordinary trading permission. Closing the interface or allowing a Relay login to expire is not the same as revoking the onchain signer.[18]

The frontend’s One Click Trading uses a Mera passkey wallet from Category Labs. The owner grants seven days of trading access, renewable or revocable from the main wallet. Face ID, Touch ID or a device PIN may unlock the passkey. This frontend grant cannot withdraw, although it can change the value and composition of holdings through trading.[17]

The trading-wallet implementation is immutable delegation logic, while each delegated wallet retains its own nonces and instruction state. That property does not make every component immutable: custody, order books and the registry are separate contracts. The technical reference explicitly excludes upgrade, pause and governance administration from its ordinary user-call coverage.[22][19]

Kuru’s documentation index names Spearbit and Cantina as audit providers, but its linked legacy audit page is unavailable. The index does not identify reports or reviewed versions that can be matched to the current Spot V2 deployment. Current V2 audit coverage therefore remains unestablished from this evidence.[35]

Mainnet actions use real assets. The documentation’s REST playground defaults to mainnet, while testnet signatures, tokens, chain IDs and login credentials belong to a different environment. Changing an endpoint does not transform previously entered addresses or signatures. The retrieved technical material supplies no complete residency or customer eligibility matrix; technical access should not be treated as a determination of local legal eligibility.[2]

The official status page showed the website, API, WebSockets and production RPC as operational when inspected on 20 October 2026. These component indicators are useful when diagnosing a problem; they are not a confirmation that a particular account can withdraw or that every market has liquidity. No emergency telephone dealing facility or published formal complaint timetable was verified.[32]

A transaction hash confirms submission rather than the final order state. A post-only order may be skipped, a swap may execute immediately, or a resting order may have partially filled. Before retrying, reconcile the transaction outcome and current order identity. Maker slots can be reused, so a delayed cancel or replace should identify the expected order, not merely its old slot.[27]

A lost or compromised passkey session can be addressed by revoking its trading permission from the owner wallet. The documented owner control should not be confused with a custodial password-reset service; recovery of the owner’s wallet itself depends on that wallet’s arrangements. No universal withdrawal cooldown following a passkey reset was published in the inspected guide.[17]

SpotRouter recognises registered markets and links them to the intended custody contract. Market creation and administration are permissioned. A whitelisted token need not already have a live market, and a predicted contract address need not contain a deployed exchange. Existing market proxies may also have different upgrade histories from the implementation intended for future deployments.[21]

Kuru Labs is the disclosed development business. An exact current interface contracting entity and a corresponding exchange authorisation were not established from the retrievable materials. The protocol’s technical permissions do not supply that legal identity or financial authorisation.[33]

Kuru announced a US$2 million seed round led by Electric Capital on 25 July 2024, with Brevan Howard Digital and other investors participating. Its stated project was an onchain order book designed around Monad’s execution environment. The financing announcement is historical company context, not evidence of current exchange turnover, client balances or active traders.[34]

On 7 July 2025, Kuru Labs announced an US$11.6 million Series A led by Paradigm. The announcement described planned mainnet development and a broader trading and liquidity toolkit. Current product availability is taken from the Spot V2 documentation rather than assuming every earlier launchpad or vault proposal is unchanged.[33]

The current trading page provides a dedicated “Withdraw from v1” link. V1 and V2 should be treated as separate account and contract generations: seeing a new interface does not prove an old balance or position migrated. The V1 destination could not be inspected through the available text retrieval, so this profile records the official exit route without asserting a completed migration or a final withdrawal deadline.[31]

Operator

Kuru Labs is the disclosed developer; the exact interface contracting entity was not established.

Exchange model

Decentralised

Service scope

Monad mainnet spot order-book exchange with passive liquidity and a live Spot V2 frontend. V1 assets have a separate exit link.

Client types

Retail clients; Professional clients

Pricing publication

Public pricing

Other names

Kuru Labs; Kuru Spot V2

Funding scope

Supported Monad tokens enter the main account; subaccounts use internal transfers. External withdrawals require free main-account funds and the applicable capacity and price checks.

Custody and asset handling

Deposited assets are held in AccountCore contracts. Owners control account permissions; reserved orders, passive positions and withdrawal controls limit immediately available funds.

Client eligibility

Wallet-based technical access; a complete residency matrix and current interface agreement were not established. Mainnet and testnet must be distinguished.

Support

Official documentation and the Kuru Labs status page provide technical and service information; no emergency dealing desk or formal complaint deadline was verified.

Authorisation and registration scope

No exact licensed interface counterparty or exchange-specific financial permission was independently verified. Technical market registration and protocol governance are separate from financial-services authorisation.

Exchange metadata checked 29 Oct 2026Source 1Source 2Source 4Source 9Source 11Source 14Source 21Source 25Source 31Source 32Source 33

Kuru separates APIs by purpose. Relay submits signed actions, Data Source provides catalogues and finalised history, and Exchange Gateway supplies current projections and streaming updates. Their sample responses demonstrate schemas and may be testnet snapshots. They are not live quotes or measured account states. Integrations must maintain the distinction between provisional activity and finalised records.[23]

Account order-event history is completion-oriented and excludes partial fills; user-trade records are needed for execution history. REST snapshots can be truncated, while passive inventory is tracked separately from available and order-reserved funds. A complete reconciliation therefore needs fills, balances, commitments and position activity. No complete tax-calculation or post-closure statement service was verified.[24]

The TypeScript SDK constructs calls, prepares signatures and decodes events. Strategy decisions, transaction confirmation, nonce coordination and reconciliation remain with the integrating application. An automated or AI-assisted client would need separately granted execution authority; the SDK itself is not a discretionary investment mandate. No distinct managed copy-trading or autonomous AI service was verified.[25]

Maker hooks are another form of automation. They require protocol access and an account-configured hook, and can refresh qualifying quotes after fills. Callback failures are caught so matching can continue, but successful authorised external side effects persist. This is not a sandbox for arbitrary strategy code, and a per-callback gas bound does not cap the total number of callbacks in a transaction.[28]

Version compatibility matters for record keeping. The documented SDK 0.2.0 contract examples do not imply that its older WebSocket decoder understands newer balance and operation fields. Applications using an older decoder can misread activity even when contract calls still work. The installation guide also directs browser integrations to the user’s wallet provider rather than embedding an owner key in frontend software.[29]

Passive-band inventory needs its own accounting. Execution events reconstruct trading changes, while band-update events report inventory snapshots. This matters when comparing a displayed balance with the amount recoverable from a liquidity position: the absence of a conventional open order does not mean the funds are uncommitted or unchanged.[30]