The first perp DEX built on Canton Network.
Trados is the first perpetual futures exchange deployed on the Canton Network. Trade BTC, ETH, and SOL perps up to 20× with atomic settlement, non-custodial collateral, and full on-chain auditability — made possible only by Canton and Daml.
Perp DEX on Canton Network
Total open interest
Settlement latency
Maximum leverage
Trados is built on the Canton Network — a privacy-preserving, enterprise-grade distributed ledger. Every stat above is verifiable on-chain.
Global traders
Traders from every corner of the world
From retail traders to institutional desks, Trados serves participants across every timezone on a single shared Canton ledger.
Daml-native protocol
Canton built for fintech
Three core guarantees that set Trados apart from every other perp DEX.
Canton Network
The only DEX that could only exist on Canton
Trados is not a port of an existing DEX. It is designed from the ground up around Canton's unique capabilities — atomic multi-party commands, sub-transaction privacy, and Daml's formally verified contract model. These properties are not achievable on EVM chains or optimistic rollups.
Financial-grade contracts in Daml
Every position, margin account, and insurance fund on Trados is a Daml contract — the language purpose-built for expressing multi-party financial agreements with machine-verified obligations and rights. No reentrancy, no integer overflow, no undefined behaviour.
Need-to-know data sharing
Canton's sub-transaction privacy means your position data is only disclosed to you and your clearing counterparty. Regulators can be added as observers via party topology without changing a single line of contract code.
Growing the Canton ecosystem
Trados is the first perpetual DEX deployed on Canton, proving that high-frequency derivatives trading is possible on an enterprise-grade ledger. Every trade contributes to Canton's composability and demonstrates the network's readiness for institutional DeFi.
Why Trados
Everything you need to trade with confidence
Non-custodial
Your collateral lives in a Canton contract that only you and the clearing house can jointly authorise. No third-party custody risk.
Atomic transactions
Margin lock, position creation, and PnL settlement submit as one Canton command. All-or-nothing execution, always.
Real-time PnL
Unrealised PnL is recomputed and stored on-chain every time a new oracle price lands, visible to all stakeholders.
On-chain audit trail
Every funding settlement, liquidation, and insurance draw is a Canton exercise event queryable via PQS SQL.
Canton Network privacy
Position data is only visible to the trader and clearing house. Regulators can be added as observers via party topology without changing contracts.
Insurance fund
An on-chain reserve absorbs liquidation deficits before they reach other traders, with full balance transparency.
Proven performance
Unrivaled settlement, efficiency, and transparency
“The atomic settlement guarantee on Canton is real. I've never had a partial fill leave me with an unexpected position.”Apex CapitalMaya ChenQuantitative Trader
Use cases
How participants trade on Trados
For retail traders
Open leveraged positions with full on-chain custody of your collateral.
For market makers
Quote tighter spreads knowing every fill settles atomically with zero counterparty risk.
For institutions
Audit every position, liquidation, and funding event directly from the Canton ledger.
Fee tiers
Trading fees for every participant
Retail
0.06%taker fee
For individual traders opening their first position on Canton. No monthly fees, pay only when you trade.
Included
- BTC, ETH, SOL perpetuals
- Up to 20x leverage
- Cross-margin collateral
- Real-time on-chain PnL
- Non-custodial settlement
Pro
0.04%taker fee
For active traders with 30-day volume above $1M. Maker rebates and priority oracle feeds included.
Everything in Retail, plus
- Reduced 0.04% taker fee
- -0.01% maker rebate
- Priority matching engine queue
- Extended leverage on BTC (25x)
- Advanced PQS analytics access
- Dedicated support channel
Institutional
Custom
For funds, market makers, and custodians needing bespoke fee schedules and Canton party topology.
Everything in Pro, plus
- Negotiated fee schedule
- Dedicated Canton node access
- Custom party topology & observers
- White-glove onboarding
- Regulatory reporting exports
A perpetual future is a derivative contract with no expiry date. Your PnL tracks the underlying price continuously. Funding payments between longs and shorts keep the mark price anchored to the spot index.
Get started
Open your first position in minutes
Connect your Canton wallet, deposit collateral, and trade BTC, ETH, or SOL perpetuals with full on-chain transparency.
Join 12k+ traders already trading on Trados