Arbitrum L3 and on-chain settlement
Last updated
Last updated
On-chain settlement refers to the process of finalizing transactions directly on our L3 blockchain network. Unlike centralized exchanges, where trades are executed and settled off-chain within the exchange's internal ledger, EVEDEX leverages blockchain technology to ensure users' transparency, security, and self-custody.
Our L3 network, Eventum, handles the following:
Position and Funds Data: Logs user trading positions and balances.
Liquidation and ADL Data: Records liquidation events and ADL (Auto-Deleveraging) adjustments.
Funding Rates and Fees: Tracks funding rates and trading fees paid.
Auditability: Provides open, verifiable data for anyone to review.
We have shared the entire journey of our current blockchain solution on this . You can find detailed insights and background information there.
User actions are periodically recorded in the blockchain to verify and ensure the correctness of the backend data. Key scenarios include:
Periodic Updates: User position data is written to the blockchain after sufficient changes have accumulated.
Withdrawals: When a user withdraws funds, the data is recorded on-chain to verify backend correctness.