Milestones

Two dates define the next phase of the network.

Milestone	Date
Public testnet	20 September 2026
Mainnet beta	1 November 2026

Everything below is either running today on the private testnet, or gated behind one of those two dates.

Running today

The private testnet runs the full stack. These are delivered capabilities, not planned ones — each is implemented in the protocol and exercised continuously.

Capability	What it means
✅ Deterministic execution kernel	Matching, clearing, and settlement execute as a fixed stage sequence over a consensus-committed ordering, in integer fixed-point arithmetic. Two honest nodes produce byte-identical results
✅ BFT consensus with in-block price certification	Ordering and a certified price vector commit in the same consensus event. A validator cannot propose a block without valid price observations
✅ Central limit order book	Full price-time priority, with intra-block position as the time dimension. Cancels execute before aggressive orders in the same block
✅ Complete order type surface	Limit and market, with GTC, IOC, FOK, AON, and post-only. Reduce-only as a protocol-enforced flag
✅ Conditional orders and protective pairs	Stop-loss and take-profit, standalone or attached to an order or a position, with one-cancels-the-other linkage
✅ Cross and isolated margin, one-way and hedge	Margin mode per market, position mode per account, with tiered requirements that scale with position size
✅ Protocol-native clearinghouse	Margin, liquidation, insurance fund, auto-deleveraging, and funding run inside block execution — no keepers, no gas auctions
✅ Multi-source oracle	Per-validator aggregation across venues with median clamping and tier-capped weighting, certified by quorum
✅ Four-price mark	Median of oracle-plus-basis, book median, funding basis, and external perpetual mid, with defined degradation when sources fail
✅ Vaults	Protocol-owned liquidity that backstops liquidations, plus the vault capital structure
✅ Agent authorization	Named agent accounts with expiry, on-chain and revocable, queryable in both directions
✅ Cross-chain bridge	Validator-attested, with two-phase withdrawals and a dispute period
✅ Sharded state with Merkle proofs	Versioned state across sharded stores, authenticated by a sparse Merkle tree and accumulators
✅ Indexer and market data	REST and WebSocket surfaces over committed state

TWAP and scale orders are client-side execution strategies built on the order types above rather than protocol primitives. They are available through the trading interface and the API.

Public testnet — 20 September 2026

Open access. The gates below are what the private testnet has to demonstrate before it opens.

Gate	Criterion
Replay determinism	Zero divergence — byte-identical results across validators over sustained load
No out-of-bounds actions	Nothing reaches the order book that violates a protocol constraint
Simulation fidelity	Pre-trade simulation matches actual fills

Mainnet beta — 1 November 2026

Real capital, under production traffic.

Gate	Criterion
Sustained load with risk engine live	Uptime under production traffic with the full clearing path active
Complete attribution	Every state change bound to the transaction that caused it
Two-sided quotes at target depth	Spread and depth thresholds met across listed markets

After mainnet beta

The stage that follows is measured rather than dated, because what matters is whether the venue retains activity rather than whether it launched:

Retained volume over 90 days, adjusted for incentives
Funded-trader retention across weeks 1, 4, and 8
Volume generated per unit of incentive spend

Where to go next

What's next

The capabilities being built after mainnet beta.

Protocol changelog

Dated record of what has shipped.

Architecture

How the delivered capabilities fit together.

AI trading

Where the agent runtime work is heading.

Overview

Architecture

Roadmap

Security

Running today

Public testnet — 20 September 2026

Mainnet beta — 1 November 2026

After mainnet beta

Where to go next

What's next

Protocol changelog

Architecture

AI trading

​Running today

​Public testnet — 20 September 2026

​Mainnet beta — 1 November 2026

​After mainnet beta

​Where to go next

What's next

Protocol changelog

Architecture

AI trading

Running today

Public testnet — 20 September 2026

Mainnet beta — 1 November 2026

After mainnet beta

Where to go next