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On Acid

Exchange

A high-performance DEX with an order book: capital efficient, omnichain, and provable by design.

The Exchange is the trading storefront of the network. It offers a full order-book DEX (not just swaps) with support for spot, margin, leverage, and outcome-based markets. Every trade, match, and liquidation runs on the three primitives: Oracle Network for fresh prices and event outcomes, Programmable Settlement for deterministic execution, and Zero Layer for atomic clearing across chains.

It brings CEX-level capital efficiency onto an open, auditable rail.

  • Order book DEX: professional-grade matching engine with spot and margin markets.

  • Capital efficiency: unified collateral, continuous netting, and provable liquidations.

  • Fair pricing: oracle-anchored, manipulation-resistant prices for funding and margining.

  • Outcome-based markets: positions that resolve to oracle-signed events, with escrow and programmable payouts.

  • Omnichain by default: collateral on one chain, trades on another, payouts anywhere… all cleared atomically.

  • Receipts for every trade: settlement proofs, oracle IDs, and checkpoint hashes for full auditability.

  • Integration ready: designed as the target standard for any wallet to plug into, not just our own.

How it works

Section titled "How it works"

  1. Orders are placed into a shared order book object.

  2. Matching runs deterministically, generating settlement instructions.

  3. Oracles supply prices, funding rates, risk checks, and event outcomes.

  4. Settlement programs net obligations, enforce margin rules, and trigger liquidations or payouts when needed.

  5. Zero Layer clears transfers and collateral moves across chains atomically.

  6. Receipts prove each trade’s correctness, outcome, and compliance.

Event-driven markets

Section titled "Event-driven markets"

The Exchange extends beyond financial assets to outcome-based trading:

  • Escrow at entry: collateral is locked programmatically until resolution.

  • Oracle-settled: outcomes are determined by quorum-signed oracle feeds, not discretion.

  • Programmable payouts: winnings, rebates, or tranches are distributed automatically through settlement programs.

  • Custom feeds: developers can launch new oracles for bespoke markets, showcasing the flexibility of the Oracle Network.

Performance

Section titled "Performance"

  • Low latency: trades finalize in a few seconds under checkpointed finality.

  • High throughput: thousands of matches per second, scaled by batching and netting.

  • Fair & reliable: oracle diversity, anti-manipulation guards, and transparent receipts.

  • Global finality: all trades settle into the Master Chain’s GCkpt stream.

Economics

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  • Transparent fees: per trade, with rebates for netted flows and maker/taker incentives.

  • Reward programs: programmable rebates, liquidity mining, and fee discounts encoded as settlement flows.

  • Operator incentives: exchange operators earn for uptime and low latency; failures surface with evidence.

Developer surface

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  • APIs & SDKs: placeOrder(), cancelOrder(), queryBook(), resolveOutcome(), liquidate(), verify(recei.

  • Integration hooks: event streams for fills, margin calls, liquidations, and oracle resolutions.

  • Programmable extensions: build new settlement templates for payouts, rebates, or compliance hooks.

  • Open standard: defines the liquidation & margin interface so third-party wallets can interoperate.

The Exchange is a showcase of the primitives under stress: high-throughput order books, leveraged trading, outcome-based markets, atomic liquidations, and omnichain clearing. Where the Wallet proves simplicity and everyday flows, the Exchange proves robustness, expressiveness, and performance at scale.

Together, they are the storefronts of the network: usable products today, and reference designs for the ecosystem tomorrow.

Not

Section titled "Not"

  • Not an AMM.

  • Not a custodial exchange.

  • Not a siloed, chain-specific DEX, it is a provable, omnichain exchange with order books and outcome-based markets built on the primitives.