Description
Polynomial is a decentralized perpetuals (perps) exchange powered by its own Ethereum rollup, designed to be optimized for traders, composable for builders, and rewarding for its users. The platform features a hybrid execution model, starting markets with a pool-based AMM for thin liquidity and large trades, which can upgrade to an orderbook for tighter spreads as the market grows. Key features include oracle-based liquidations to protect against price manipulation, minimal slippage, cross-margin accounts, and multi-collateral support (ETH, stablecoins, etc.). Polynomial operates on a shared success model, where 50% of protocol fees are distributed to stakers. It is positioned as more than just a trading application, but a foundational platform for other DeFi products like options, structured vaults, and prediction markets, all built on the same liquidity layer. The ecosystem is designed to serve three main roles: Traders, who get a CEX-level performance with gasless trades and up to 50x leverage; Stakers, who earn protocol fees and help govern the network; and Builders, who can launch new protocols on Polynomial's liquidity layer using its infrastructure.