> For the complete documentation index, see [llms.txt](https://docs.nexus.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.nexus.xyz/overview/introduction.md). # Introduction What the Nexus Exchange is, what is live on testnet today, and what comes next. The Nexus Exchange is a **central-limit order book perpetual futures exchange**. Orders rest in a book, match on price-time priority, and settle against margin held by the venue — the same shape as a centralised derivatives exchange, rather than an AMM or an intent-matching protocol. The order book, matching engine and risk system are **protocol components written for the Nexus blockchain** — not a smart contract deployed on a general-purpose chain — which is what lets the venue target CEX-class acknowledgement latency. **Today the engine runs as a self-contained process**, which is why the Exchange reached real users on testnet as a development preview. [Architecture](/overview/architecture.md) sets out the components and exactly which parts are live. ### What's live today The exchange is **live on Nexus Testnet** as a development preview. You can connect a wallet, create API keys, fund a synthetic-USDX account from the faucet, and trade the live perpetual futures markets programmatically over REST and WebSocket. * **Three crypto perpetual markets — `BTC`, `ETH` and `SOL` — collateralized and quoted in synthetic USDX.** Which ones are listed moves as markets are listed and delisted, so `GET /markets` is the authority rather than a count here. Equity indices and pre-IPO perpetuals follow as the set expands — see the [Asset Directory](/asset-directory/asset-directory.md). * **Leverage is configurable per market.** * **API-first.** All trading happens over the REST and WebSocket APIs. The web frontend at [nexus.xyz/trade](https://nexus.xyz/trade) is a read-only market and portfolio view — order entry is via the API. * **Non-custodial by design.** Balances and collateral are held by the exchange protocol, never by a private operator. * **Synthetic test funds.** Each API key can claim test USDX from the faucet to trade against live, bot-seeded liquidity. > This is a development preview on testnet. It is not a regulated venue and not an offer or solicitation. Markets are seeded with automated liquidity for testing; prices and balances have no real-world value. ### What's coming Perpetual futures are the first market type. Spot, additional derivatives, and broader asset classes — equities, FX, commodities, RWAs — follow in later releases. The roadmap progresses through a sequence of release gates, each adding robustness and risk controls before the next. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.nexus.xyz/overview/introduction.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.