Key Concepts
This page defines the vocabulary used throughout the rest of the documentation.
Accounts
Accounts are indexed by an Ethereum-compatible address. There is no registration flow — an account is created implicitly on first deposit.
One address holds three independent sub-accounts. What distinguishes them is the funding model, not just what they hold:
| Sub-account | Holds | Funding model |
|---|---|---|
| Spot | token balances | Fully funded — no leverage and no positions. An order can only lock balance you already hold, and a fill swaps one token balance for another. |
| Perp | margin + perpetual positions | Margin — positions are collateralized by this account's assets, in cross or isolated mode, with tiered maintenance margin, mark-to-market PnL, funding, and liquidation. |
| Outcome | margin + prediction-market shares | Margin, on the same path as perps — share positions are opened against this account's margin and redeemed to the margin asset at 0 or 1 when the market resolves. |
The sub-accounts are margined and settled separately: cross margin pools only the assets held in the perp account, so a spot balance does not collateralize a perp position.
Vaults are a separate account type, following a leader–follower copy-trading model: the leader trades the vault, and followers hold vault equity as shares, with a lock-up period and cost-basis accounting.
Instruments
Spot, perpetual, and outcome markets are unified under a single instrument abstraction. They share one configuration schema, with type-specific extensions where needed. This is documented in full under TIP — Improvement Proposal.
| Type | What trades | Settlement |
|---|---|---|
| Spot | base asset vs. quote asset | instant swap of balances on fill |
| Perps | perpetual contract | mark-to-market PnL + funding |
| Outcome | prediction-market shares (synthetic) | redeemed to margin asset (0 or 1) at resolution |
Channels
Spot, perp, and outcome markets are grouped into channels — isolated trading venues that share the same L1 but independently control their own markets, fees, and operators. Documented in full under TxCore § Channels.
Margin
- Cross margin — all assets in the perp account jointly collateralize all cross positions.
- Isolated margin — each position locks its own margin, isolating risk. Outcome markets are isolated only.
- Position mode — One-Way or Hedge (a single instrument can hold both long and short simultaneously).
- Tiered margin — the maintenance margin rate (MMR) and max leverage are tiered by position size: larger positions have a higher MMR and lower available leverage.
Full formulas are in Margin System.
Prices
- Mark price — used for position valuation, unrealized PnL, and liquidation; smooths short-term wicks.
- Oracle price — an aggregated external reference price for the underlying.
Prices are fed by validators through on-chain oracle transactions, visible to and identical across all nodes each block. See Oracle.
Networks
TxFlow signing uses network-separated EIP-712 domains:
| Network | Chain ID | Domain name |
|---|---|---|
| Mainnet | 869 | TxFlow-Mainnet |
| Testnet | 2511 | TxFlow-Testnet |
See Signing for the full domain specification.
Endpoints at a glance
| Endpoint | Purpose |
|---|---|
POST /exchange | submit signed transactions (all write operations) |
POST /info | read-only queries (balances, positions, order book, market metadata) |
WS /ws | 23 subscription channels for market data, account updates, and on-chain data |
See the Info API and WebSocket API for the read reference, Signing for how writes are authenticated, and the Exchange API for the write actions themselves.