Mission
Last updated
Last updated
Sphinx is dedicated to advancing financial exchange technologies that underpin the heart of the trading industry. Our mission is to democratize access to institutional-grade exchange systems that support the trading of commodities, securities and their derivatives. We accomplish this by engineering blockchain infrastructure for trading applications that require institutional-grade performance within a decentralized computing framework.
Our architecture addresses existing centralized trading systems by resolving existing bottlenecks in order book matching, transaction execution, clearing, settlement, trade netting, cross-asset margining and client on-boarding. Sphinx's goal is toestablish infrastructure with the following features:
Global decentralized network to facilitate the creation and operation of our target applications
Deterministic order matching and execution with speeds that rival traditional centralized venues using a coprocessor order book model
Smart contract execution environments for applications such as high frequency trading, lending pools and liquidity aggregation
EVM compatibility
Regulatory and compliance tooling built in
In addition to supporting exchange builders, Sphinx is also opening an energy derivatives exchange as a feature application that will leverage our infrastructure.
The Sphinx network architecture addresses critical design tradeoffs that both decentralized and centralized exchanges face. Read more about this in Challenges & Tradeoffs. Key network elements include:
Validators - Nodes that power our high performance L1 blockchain, powered by an optimistic version of the CometBFT consensus mechanism.
Coprocessors - Discrete off-chain compute that features deterministic sub-state synchronization and provides its own transaction execution environment. Highly customizable, users can build and deploy their own modules to the kernel.
Relayers - Full nodes that provide RPC access for clients and coprocessors, network routing and load balancing to provide ubiquitous communication for our critical infrastructure.
While the network design and documentation are under active development, we encourage you to read more and reach out if you have questions.
