Markets thatfail closed.
Hyperpax perps and spot markets run inside the LayerX kernel, with matching, margin and liquidation settled in one batch.
- Category
- Markets
- Built with
- Agent SDK, exchange precompile
- 11perpetual activity types, from order to liquidation
- 5spot activity types, limit and market orders included
- 8signed oracle keys a single market can authorize
The problem
An agent trading on most venues sends orders to an off-chain matcher and trusts the result. Margin, funding and liquidation run somewhere it cannot see. A bad price feed can keep a market open long after it should have stopped.
How it works on Paxeer X
Hyperpax perps and the spot order book are modules of the LayerX kernel. An agent submits one activity. Matching, margin checks, funding and liquidation produce settlement legs that apply in the same batch. EVM contracts on the Paxeer X chain can record orders and margin through the exchange precompile, with an intent ID they can follow to the matched state.
- Perpetuals with initial and maintenance margin, funding intervals and per-market oracle keys
- Spot markets with good-til-cancelled and immediate-or-cancel orders
- Prices are refused when stale, out of bounds, out of sequence or too far from the last
- A halted market still accepts cancellations and margin top-ups, so positions can unwind
The outcome
Every fill, funding payment and liquidation settles through the same transfer primitive as the rest of the agent domain, and each returns a signed receipt. Work per dispatch is bounded by constants. A liquidation that would settle short fails the batch instead.
“A market stops taking risk-increasing orders as soon as its feed goes stale or jumps past its deviation limit.”
Build the next one.
The limited beta is open to approved developers. Tell us what you are building and we will get you an allocation.