# Phoenix

> Solana's On-chain Perpetuals Exchange

Phoenix provides an on-chain limit orderbook DEX on Solana with instant settlement and crankless architecture for efficient spot trading.

Phoenix operates a fully on-chain central limit orderbook decentralized exchange on Solana, enabling instant atomic settlement of trades without asynchronous cranking. The platform offers limit and market orders with sub-second confirmation times, supporting professional market makers and traders with efficient capital deployment. Phoenix employs crankless design where funds become immediately available after order fills.

- Type: Project
- Sector: Finance
- Status: Active
- Founded: 2023-02-01
- Profile: https://thegrid.id/profiles/phoenix

## Products

- [Phoenix Spot](https://thegrid.id/profiles/phoenix): Phoenix Spot implements a fully on-chain central limit orderbook architecture on Solana, facilitating atomic trade settlement without asynchronous cranking mechanisms. The system processes limit and market orders with direct wallet-to-wallet settlement, maintaining price-time priority execution rules while enabling immediate fund availability after order fills. Phoenix Spot operates through verified smart contracts deployed on Solana Mainnet. (Decentralised Exchange, Early access, Main Product)
- [Phoenix Perps](https://thegrid.id/profiles/phoenix): Phoenix Perps implements perpetual futures trading infrastructure on Solana through proprietary AMM-style liquidity mechanisms. The system facilitates derivatives trading with gasless execution for retail users while providing professional traders with predictable order execution and advanced strategy support capabilities. (Derivatives , In Development)

## Links

- [Main](https://www.phoenix.trade)
- [Documentation](https://github.com/Ellipsis-Labs/phoenix-v1)
- [Twitter / X](https://x.com/PhoenixTrade)
- [Discord](https://discord.gg/phoenixtrade)
- [GitHub](https://github.com/Ellipsis-Labs)
- [Twitter / X](https://x.com/ellipsis_labs)

## Relationships

- [Ellipsis Labs](https://thegrid.id/profiles/ellipsis-labs): Parent organization

## Legal

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The following applies to both licensing models.
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- [Data Licensing & Disclaimers](https://about.thegrid.id/legal/data-licensing-and-disclaimers): Licensing models and disclaimers
- [Open Data (ODbL)](https://about.thegrid.id/legal/open-data): Open Database License terms and scope for The Grid's open data service.
- [Attribution Guidelines](https://about.thegrid.id/legal/open-data-attribution-guidelines): How to attribute The Grid's data when using the open data service.
- [Web Services Terms](https://about.thegrid.id/legal/web-services-terms): commercial Terms for using data services.
- [All Legal Documents](https://about.thegrid.id/legal): Full index of terms, policies, and disclosures

## Optional

- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
- [TGS JSON Structure](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-json-structure.md): Data model structure and relationships
- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP