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Built on Elysium

Perpetual markets. Executed on-chain.

Elysta is an independent perpetual exchange built on Elysium, combining deterministic order matching, transparent position accounting and on-chain settlement across multiple asset classes.

Launch ExchangeExplore the Protocol
  • Crypto
  • Equities
  • Commodities
  • Indices

Live prices appear here once the exchange goes live on Elysium mainnet.

Markets

Markets across asset classes.

Thirteen launch markets in four categories, each with its own tick, lot, leverage, funding and session rules. Status and prices are the registry's, read live; a market that is not tradable says so.

Live data arrives with the Elysium mainnet launch

This panel reads the exchange API, which goes live with the Elysium mainnet launch. Until then there is nothing to show, and nothing here is simulated.

Execution architecture

An exchange built around its own execution layer.

Four contracts with explicit state-authority boundaries. Off-chain services index and relay; they never decide a fill, a balance or a liquidation.

  1. 01

    Collateral Vault

    Holds the settlement collateral and keeps the one canonical ledger: available, reserved and locked per account, the insurance fund and the PnL pool.

    ElystaCollateralVault.solAuthoritative for every balance.

  2. 02

    Market Registry & Oracle

    Lists markets with their execution, risk, fee and session parameters, and turns adapter observations into one validated index price with freshness and deviation rules.

    ElystaMarketRegistryOracle.solAuthoritative for configuration and the index.

  3. 03

    Order Book & Matching

    The on-chain limit order book: tick-indexed levels, FIFO queues and deterministic price-time matching inside a bounded gas budget.

    ElystaOrderBookEngine.solAuthoritative for which orders fill, and at what price.

  4. 04

    Perpetual Risk Engine

    Positions, isolated margin, leverage limits, mark price, funding, permissionless liquidation and the loss waterfall into the insurance fund.

    ElystaPerpRiskEngine.solAuthoritative for positions and settlement.

How an order moves: validation, risk, matching, settlement.Hover or focus a contract.

Matching and settlement happen in one transaction. If the risk engine rejects a fill, the book never shows a trade that did not settle; if it rejects the resting side, that order is cancelled and matching moves on.

How it works

Six steps, every one of them a contract call you can verify.

Nothing in this list is a simulation. Each step links to the page where you do it, and each page shows the transaction it sent.

  1. 01

    Connect a wallet

    Any EVM wallet on Elysium mainnet. Elysta asks only to connect and to use the configured chain.

    Open the terminal
  2. 02

    Deposit collateral

    Approve the settlement token and deposit into the vault. The balance you see is a contract read.

    Vault
  3. 03

    Select a perpetual market

    Crypto, equities, commodities and indices, each with its own leverage, tick, lot and session rules.

    Markets
  4. 04

    Place an order

    Limit or market; post-only, IOC, FOK or reduce-only. Estimated margin and fees are shown before you sign.

    Trade
  5. 05

    Match and execute on-chain

    The order book matches by price, then time, and the risk engine settles each fill in the same transaction.

    How matching works
  6. 06

    Manage and settle positions

    Watch margin, funding and the liquidation price; add or remove margin; close or reverse; withdraw.

    Portfolio

Risk and transparency

Every position has a verifiable state.

The formulas are the contract's. The methodology page gives the precision, rounding and worked examples; the figures here are read from the vault.

Insurance fund

The insurance fund, bad debt and the solvency check appear here once the exchange is live on Elysium mainnet.

Read the risk methodology

  1. Isolated margin

    Each position holds its own margin. Opening locks qty × price × initial margin fraction from free collateral; nothing else backs it, and nothing else is at risk.

    margin ≥ |qty| × price × IMF

  2. Maintenance margin

    A position may be liquidated when its margin plus unrealized PnL falls below the maintenance requirement at the mark price.

    margin + PnL < |qty| × mark × MMF

  3. Mark price

    The book mid, clamped to a band around the validated index. With a one-sided or empty book, the index itself. Never a last trade dressed up as a mark.

    mark = clamp(mid, index ± band)

  4. Funding

    The premium between mark and index is accrued against time; at each interval it becomes a capped rate and moves collateral between longs and shorts.

    rate = clamp(TWAP(premium) × T / 8h, ±cap)

  5. Liquidation

    Permissionless. A liquidator takes over the quantity needed to restore health at the mark price; the fee is split with the insurance fund.

    q = (|Q|·mark·IMF − equity) / (mark·(IMF − fee))

  6. Insurance fund and settlement

    Losses beyond a position's margin are paid by the insurance fund; anything it cannot cover is recorded as bad debt and the market halts. Every settlement is an event.

    assets = ledger + PnL pool

Ecosystem

Built for Elysium.

Elysta is an independent exchange deployed on Elysium, Kinetiq's Arbitrum Orbit chain that settles to HyperEVM. It is not affiliated with, endorsed by or a product of Kinetiq or the Elysium network.

Network

Elysium mainnetlaunching
Environment
Elysium mainnet
Chain id
99901
Gas asset
HYPE
Execution
Arbitrum Orbit (Nitro), settling to HyperEVM (chain 999)
Block time
The same Nitro stack as testnet, per the Elysium documentation
Public RPC
Published by Elysium at launch
Explorer
Published by Elysium at launch
Collateral
Elysta Test USD (tUSD): test collateral with no value, until the contracts have had an external security review.

Deployed contracts

No deployment is recorded for chain 99901 in this build. Addresses appear here, with explorer links, once the contracts are deployed and the deployment record is generated.

Protocol statusChain configuration for developers

Developers

Open infrastructure for developers.

The same data behind every panel of the terminal is available over REST and WebSocket, and every action a trader takes is a public contract call.

Explore Developer Documentation
curl https://<api-host>/api/v1/markets/BTC-USD/orderbook?levels=10
# every response: { data, meta: { source: "chain" | "indexed" | "computed", block, observedAt } }

Roadmap

Delivered, in progress, planned. Nothing marked done that is not.

Statuses describe the repository and the configured network, not intentions. Mainnet has no calendar date.

Full roadmap
  1. Phase 1In progress

    Complete testnet exchange

    Every essential trading, financial, risk and settlement function on Elysium testnet, with the terminal, indexer, API and WebSocket around it.

    Deliverables9 / 11
  2. Phase 2In progress

    Testnet validation and hardening

    Unit, fuzz and invariant campaigns, adversarial oracle tests, gas benchmarks, indexer recovery and a security review.

    Deliverables4 / 7
  3. Phase 3In progress

    Mainnet deployment

    Production contracts, verified oracle configuration and collateral, controlled market activation, monitoring and incident procedures. Elysta goes live on Elysium mainnet at its launch as a beta that settles in test collateral; the production deployment with real collateral has no calendar date.

    Deliverables1 / 6
  4. Phase 4Planned

    Advanced order execution

    Stop-market, stop-limit, take-profit and other conditional orders, TWAP execution and improved routing within Elysta's own markets.

    Deliverables0 / 2

Questions

The details that decide whether an exchange is credible.

Does Elysta hold my funds?

No. Collateral sits in the ElystaCollateralVault contract under your address. The only code that can move it between buckets is the risk engine, through the documented settlements, and only you can withdraw free collateral. No administrator can seize, fabricate or rewrite a balance.

Where are orders matched?

On-chain, in ElystaOrderBookEngine. The book is a tick-indexed set of FIFO levels; matching is price, then time, inside a bounded gas budget. No off-chain engine decides a fill. The indexer and API only mirror what happened.

Where do prices come from?

Elysta's oracle keeper relays HyperCore's published oracle prices to an on-chain adapter; the market registry validates every observation for freshness and deviation before it becomes the index. The adapter is a launch arrangement with a single keeper, behind a provider-independent interface, so a decentralised oracle can replace it without changing the protocol contracts.

What is the collateral?

Elysta Test USD (tUSD), a 6-decimal token with a public faucet and no value. All accounting is in USD with 18-decimal precision; token decimals are normalised once, at the vault's edge.

What happens when a position is liquidated?

Anyone can liquidate a position whose margin plus unrealized PnL is below maintenance. The liquidator takes over the quantity needed to restore the initial margin ratio, at the mark price. The liquidation fee is split between the liquidator and the insurance fund, and losses beyond the position's margin are paid by the insurance fund.

Is this mainnet?

Yes, as a beta with test collateral. Elysta runs on Elysium mainnet but settles in Elysta Test USD (tUSD), which has no value, because the contracts have not yet had an external security review. Balances, PnL and liquidations are therefore not money; gas is paid in real HYPE.

Trade on an exchange whose every state is on-chain.

Connect a wallet, claim test collateral from the faucet, and place your first order on Elysium mainnet.

Launch ExchangeRead the documentation