> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ekiden.fi/llms.txt
> Use this file to discover all available pages before exploring further.

# Introduction

> Institutional DeFi Trading. Unleashed for the Masses

Ekiden is a decentralized, orderbook-based hybrid exchange built on Canton Network blockchain. It combines an off-chain Central Limit Orderbook (CLOB) with deferred on-chain settlement to deliver high performance, transparency, and capital efficiency for both spot and perpetual futures markets.

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Built on a rollup-like architecture with Merkle-based proofs, Ekiden is designed to meet the demands of high-frequency traders and institutional DeFi participants.

## Key Features

### Perpetual Futures Exchange

* **Central Limit Orderbook (CLOB)**: Off-chain matching with on-chain Merkle commitments for auditable, transparent price discovery.
* **Deferred On-Chain Settlement**: Batched updates posted to Canton, balancing throughput and verifiability.
* **Position Management**: Positions tracked using original order data and Merkle inclusion proofs.
* **Price Discovery**: Powered by CLOB; spot integration planned.

### Scalability Through Rollup-Like Design

* **Merkleized Orderbooks**: Orders compressed into Merkle proofs stored on-chain.
* **Off-Chain Data Availability**: Full data hosted on nodes or external layers.
* **Batch Processing**: Efficient, low-cost settlements.

### Lightning-Fast Performance

* **Execution Latency**: 5–15ms, competitive with leading centralized exchanges.
* **Taker Fee**: 0.02% (baseline PoC).
* **Maker Fee**: 0%, incentivizing liquidity provision.

### Intuitive UX

* **Rapid Onboarding**: Seconds to begin trading.
* **Streamlined Wallet Interaction**: One-click trade execution.
* **Customizable Tools**: Designed for retail and institutional users.

### Self-Custody

* **User Control**: No centralized intermediaries. Users retain full asset custody.

### Powered by Ekiden

* **Hyper-Parallelization**: 200k orders per second per market
* **Low Latency**: Sub-10ms execution speed.
* **Secure Finality**: Trustless, on-chain settlement.