Contract Explorer

Holds user collateral and handles deposits, withdrawals, locked margin, and released margin.

Receives matched trade messages and updates position state.

Calculates initial margin, maintenance margin, margin ratio, account equity, and liquidation eligibility.

Calculates periodic funding payments between longs and shorts.

Determines whether accounts are liquidatable and processes liquidation events.

Validates index price, mark price, freshness, and oracle deviation.

Absorbs shortfalls and tracks protocol risk reserves.

Routes trading fees, liquidation fees, staking rewards, treasury fees, and insurance fund allocations.

Protocol utility token for discounts, subscriptions, governance, staking, and incentives.

Future governance controls for parameter changes, risk limits, and protocol upgrades.