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AshPerp Key Technologies

Synthetic Architecture

Makes AshPerp more capital-efficient and allows for low trading fees and a wide range of leverages and pairs for perpetual trading.
  • Leverage: AshPerp enables users to trade assets with leverage of up to 100x (crypto) (leverage on other assets will be updated).
  • Asset Support: AshPerp allow users to trade on a wide range of cryptocurrency pairs. We also plan to include forex, non-native tokens on MultiversX, and other securities in the future.

Perpectual Vault

The vault serves as the counterparty to all trades made on the platform:
  • When traders win (positive PnL), their winnings are received from the vault.
  • When traders lose (negative PnL), their losses are sent to the vault.
In exchange, the vault receives a portion of trading fees. These fees are proportionally split into Governance, Developers and some stays in the vault (—> Governance, Developers and Vault).
In critical situations, the vault might start to create a buffer with those funds, further protecting users' funds and the protocol from future PnL abnormalities. Specifically, a portion of USDC held within the vault will be set aside and will not impact the exchange rate between apUSDC and USDC. This ensures that when depositors decide to withdraw their USDC, there will be a sufficient reserve within the vault to facilitate these withdrawals without any issues. If the buffer mechanism is employed, we will ensure that our vault liquidity providers are promptly informed.
To better approximate real collateral ratio, and to minimize risks for the protocol, the vault follows an epoch system for capturing snapshots of open PnL. Open PnL represents the aggregate PnL of all open trades at the time of the snapshot.

Matching Bots

  • AshPerp uses matching bots to monitor asset prices and execute various actions across the protocol, such as order execution and liquidation.
  • For the Devnet version, the AshSwap team will run the bot to execute limit orders and liquidation.
  • Our plan for the Mainnet version is to allow Matching Bots to be run by anyone who wants to help strengthen the legitimacy and credibility of AshPerp, but please keep in mind that operating a Matching bot entails using EGLD to cover transaction fees.
Last modified 13d ago