Introduction

The Derive Exchange is a fully-featured, low-latency exchange that settles trades and manages risk on-chain via Zero Knowledge proofs.

• Margining, settlement and permissioning are defined in the protocol, compiled into a RISC-V binary, and proven off-chain with the SP1 Hypercube zkVM.
• Protocol operations are batched and submitted to Ethereum L1, where each batch is verified with a PLONK SNARK proof.
• Withdrawals pay out as soon as their batch is verified on L1, subject to withdrawal rate limits.

This gives sub-millisecond matching and a smooth, CEX-like experience, while every operation still follows the on-chain protocol rules. There are two ways users and builders can interact with the exchange:

• HTTP & WebSocket JSON-RPC API: send state-changing requests with self-custodial signed actions or non-sensitive market-data requests.
• L1 Transactions: deposit to the exchange via on-chain contract calls or interact with the exchange with a multi-sig. This method also allows users to withdraw funds using the “escape hatch”.

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Agents

• Point your agent at our SKILL.MD at https://docs.derive.xyz/skill.md
• Install the skill with npx skills add https://docs.derive.xyz

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SDKs

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OpenAPI / AsyncAPI

Detailed API specifications can be downloaded here:

• OpenAPI: https://docs.derive.xyz/openapi.json (applies to both WS and HTTP)
• AsyncAPI for WS-only routes: https://docs.derive.xyz/websocket.asyncapi.json
• AsyncAPI for WS subscriptions: https://docs.derive.xyz/subscriptions.asyncapi.json

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Endpoints

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Next steps