Documentation

Protocol Overview

Xactra Core is Solana-native market infrastructure for tokenized real-world assets. The protocol takes compliant tokenized representations of off-chain instruments — equities, commodities, treasuries, and funds — and turns them into programmable on-chain markets with spot trading, perpetual futures, leverage, and collateralized positions.

The protocol is composed of five on-chain modules: the Asset Registry (canonical listing and metadata for every instrument), the Oracle Layer (price ingestion and verification), the Risk Engine (volatility, liquidity, and margin parameters), the Market Engine (spot and perpetual matching), and the Margin Engine (collateral, funding, and liquidation).

Architecture

Assets originate off-chain with regulated issuers and custodians. Issuance SPVs mint Token-2022 assets against custody attestations. Once minted, the Asset Registry records the instrument's underlying, issuer, token standard, oracle configuration, and collateral eligibility.

Markets settle on Solana. Sub-second finality keeps mark prices, margin state, and liquidation checks current, while sub-cent fees make continuous rebalancing and small-position management economical. Because every Xactra asset is a standard SPL / Token-2022 token, positions and collateral compose with the wider Solana DeFi ecosystem.

Oracle Layer

Every market's price derives from an oracle feed (Pyth Network by default) and is continuously compared against an external reference source. The published deviation between oracle and reference is the primary health metric: markets whose deviation exceeds protocol bounds are flagged DEGRADED and, past a second threshold, STALE — at which point new position opening is paused.

Oracle status, deviation, and update timestamps are surfaced in the Price Verification panel on every asset page and on the Assets registry.

Risk Engine

Margin requirements are set per asset from three inputs: realized volatility, resting liquidity depth, and oracle stability. Maximum leverage ranges from 5x on treasury instruments to 20x on deep, high-volume markets.

Positions use isolated margin. The liquidation price for a long is entry × (1 − 1/leverage + MMR); for a short, entry × (1 + 1/leverage − MMR), with a maintenance margin ratio of 0.50%. Funding accrues every 8 hours at the displayed rate.

On-Chain Spot Trading

Assets marked TRADABLE settle on Solana mainnet for real. Tokenized equities and ETFs (NVDAx, TSLAx, AAPLx, MSFTx, AMZNx, METAx, COINx, HOODx, SPYx, QQQx, GLDx) are xStocks issued by Backed Finance as Token-2022 mints; BTC trades as Coinbase Wrapped BTC, ETH as Ether (Portal), and SOL natively. Orders are routed by the Jupiter aggregator across Solana's liquidity venues.

The flow is entirely non-custodial: Xactra requests a route from Jupiter, your wallet signs the resulting transaction, and it is submitted and confirmed on chain before any fill is reported. The confirmed signature links to Solscan. Xactra never holds your keys or your funds, and a swap that fails or is rejected is reported as a failure — no fill is ever simulated on a tradable market.

Trading a tokenized equity carries the issuer, custody, and market-hours risks of the underlying instrument in addition to on-chain risks. Quote freshness, price impact, and slippage tolerance are shown before you sign.

Live Data & Paper Markets

All prices in the interface are live Pyth Network oracle data: real-time aggregate prices with confidence intervals from Hermes, and real OHLC history from Pyth Benchmarks. Equity and commodity feeds pause outside their market sessions — the interface shows those markets as CLOSED rather than inventing movement. Protocol-only metrics (traded volume, funding, open interest, pool liquidity) have no real source until the Xactra market program is deployed and are displayed as “—”, never fabricated.

Two surfaces remain simulated and are labelled as such on every screen. Assets with no liquid Solana token yet (spot gold XAUx, silver, WTI, the treasury instruments) trade in a paper account at the live oracle price. Perpetuals are paper throughout, since a derivatives market requires an on-chain margin program that is not yet deployed; the orderbook ladder is a depth simulation anchored to the real oracle mid. Wallet connection, SOL balances, SPL and Token-2022 balances, and network status are always real on-chain reads.

Terms

The Xactra Core interface is provided as-is, without warranty of any kind. Nothing on this site constitutes investment advice, an offer, or a solicitation to buy or sell any security or other financial instrument in any jurisdiction.

Risk Disclosure

Leveraged trading carries substantial risk of loss. Tokenized real-world assets carry additional issuer, custody, oracle, and regulatory risks beyond those of the underlying instruments. Perpetual positions can be liquidated in fast markets; funding costs can materially affect returns. Never trade with funds you cannot afford to lose.