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Intention Exchange (app.intention.xyz) is the flagship perpetual futures DEX on the Intention L1. Every order, cancellation, fill, funding payment, and liquidation is produced by IntentionKernel and finalized by IntentionBFT consensus — Intention Exchange does not implement its own matching engine or risk pipeline, it inherits both from the protocol below it. The entire lifecycle of a position is therefore verifiable by validators and users alike at the protocol layer, not at the application layer. The trading stack is designed to feel like a top-tier centralized venue to traders, while exposing the determinism and auditability of a blockchain to integrators. Matching runs on a full on-chain central limit order book with price-time priority, sub-second block cadence, and deterministic sequencing rules.

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What you can do

Place orders

Market, limit, stop-market, stop-limit, take-profit, post-only, reduce-only, IOC, FOK, and GTC orders.

Use advanced strategies

Split large orders with TWAP, ladder into positions with Scale orders, and flip direction instantly with Quick Reverse.

Manage risk

Attach take-profit and stop-loss to orders or positions, add margin, and control leverage per contract.

Understand pricing

Mark price, index price, and funding drive P&L, liquidations, and settlements — all derived transparently.

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Core building blocks

  • Markets and matching. Each contract has its own order book, tick size, lot size, and leverage tiers. See Markets and Order book.
  • Order types and modifiers. Standard order types pair with time-in-force flags (GTC, IOC, FOK), post-only, and reduce-only to express any execution intent.
  • Margin and leverage. Traders pick between isolated and cross margin modes, set leverage per contract, and can add or remove margin from isolated positions.
  • Risk and liquidations. Positions are marked to the mark price, funded hourly via funding, and liquidated in tiers with fallbacks to the liquidation vault and ADL.
  • Pricing feeds. Index price aggregates major spot venues; mark price blends oracle, book, and funding basis.
  • Liquidity. Vaults supply on-book liquidity and absorb liquidations. See Vaults.

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Execution guarantees

Every block, Intention orders actions by a fixed priority: system operations, then non-matching actions (deposits, funding, liquidations, conditional-order triggers), cancels, and finally new order placements. Non-post-only placements wait two blocks off-chain before entering matching, which bounds front-running and makes cancels effectively preemptive. The full scheme is described in Transaction sequencing.

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Fees and precision

Fees use a 14-day rolling volume tier with maker and taker rates, additional maker rebates for top market makers, and group-based pricing across contracts. Fee schedule. Quantity and price rounding follows per-field rules documented in Precision — safety-critical fields round against the user, display fields round to nearest.