Overview

Tplus is a decentralized Prime Exchange.

Performance, Non-custody, and Privacy: The exchange runs in an offchain network of Intel TDX TEEs. All order submission, matching, and accounting occurs offchain. User deposits are stored in onchain vaults and controlled by the offchain network.
Composability: Tplus accounts can interact with any chain we have a deposit vault on via flash-loan style interactions called settlements, and cross-margin external exchange funds onto Tplus. This allows Tplus users to utilize external exchange liquidity and assets within Tplus, and Tplus assets and liquidity in external venues.
Capital Efficiency: Leverage is provided with an optimized spot-margin model called Matched Book Margin. Opposite-side leverage positions offset each other. This enables auto-delevering opposite-side positions and scaling OI without funding leverage with borrows of the underlying. Leverage positions are non-synthetic, so they remain fungible with spot. Imbalance in leverage demand creates skew rather than a premium.

Tplus is in alpha; fees and risk parameters in these docs are subject to change.

Section	Covers
Architecture	Offchain & onchain components, action lifecycles
Matched Book Margin	The leverage model
Composability	Settlements and synchronous making
Orders	Order types, time-in-force, triggers, validation
Margin	Account types, margin checks, caps
Liquidations	Liquidation mechanics, circuit breakers
Prices & oracles	Oracles and price types
Fees & rates	Trading fees, funding, borrow rates
Deposits	Chains, confirmation times, fungibility
Withdrawals	Queue, approvals, fees
Settlement	Atomic onchain interactions
Cross-margining	External exchange balances as margin collateral
TEEs	Trusted execution environments and attestation
Consensus & finality	Slots, finality, checkpoints, recovery
Trust model	Custody, attestation, failure modes
Contracts overview	Vaults, registry, credentials, and chain roles
Deposit Vault	Custody, deposits, withdrawals, settlements
Registry	Assets, risk parameters, caps, and delays
Credential Manager	Operator credentials and approved TEE measurements
API overview	Auth, signing, conventions, SDKs
WebSocket streams	Stream catalog and resync rules

Contents