New Withdrawals are now live on testnet. Read the changelog

The blockchain where all finance stays.

NO VCs COMMUNITY FIRST

First in the community: our CEO.

Trades are final in 0.3 nanoseconds and reversible in 3-5 business days.

  • 1,000,000,000 TPS
  • 0% fees
  • 1001x leverage
  • Network: unplugged

Announced on X by @0xJaehaerys

Our global validator network, shown at actual size. Light crosses it faster than you can read this.1 Animation slowed down 10,000,000,000 times.

“All finance should stay.”

Our CEO

Trusted by the industry's leading validators

  • validator-0
  • validator-1
  • validator-2
  • validator-3
  • validator-4

Traction

24-hour volume

Traders: 2

About $1.3 trillion, climbing by millions every second.

Matches the largest CEX's volume, tick for tick.

  • $1.36T

    Addressable market, per month

    Captured today$412

  • 48,213

    Withdrawals requested

    Withdrawals processed3

  • 24/7

    Trading hours

    Withdrawal hoursBusiness days

  • 100%

    Uptime

    DowntimeScheduled

Start trading

There are 2 traders. Be the third.

Fig. 1 to 6

How it works, drawn honestly.

Fig. 1

You stand on one side of a moat. Your funds are in a castle on the other side. The drawbridge is up. Your funds You
Withdrawals: 3 of 4 signatures. We have all 4.

Fig. 2

A loop: deposit, trade, get liquidated, deposit again. An arrow labelled your money goes in. No arrow comes out. Your money Deposit Trade Get liquidated Deposit again
Deposits in. That's the loop.

Fig. 3

A locked escape hatch under an exit sign. A countdown says it opens in 999 years. EXIT Opens in 999y 364d 23:59:59
Escape hatch. Your heirs can use it.

Fig. 4

A bare tree labelled Merkle tree. It has a root and exactly one leaf. Merkle tree Leaf 1 of 1 Root
Proof of reserves: one leaf. It's ours.

Fig. 5

Deep liquidity: 9 cm at the deep end.

Fig. 6

Team photo. Left to right: the same server.
Start trading

It works exactly as drawn.

Specs

TL-1 is the matching engine behind Temuliquid. It wins every benchmark by removing whatever was slowing it down.

Order latency was 884 ms now 0.3 ns -99.99999997%

TL-1 matching engine, datasheet rev. 0.3

Drawn
validator-0
Checked
validator-0
Approved
validator-0
Parameter Typical perp DEX Temuliquid
ThroughputLimited by the network1,000,000,000 TPS*
Order latency0.2 s advertised, 884 ms measured0.3 ns
FinalityAbout 1 blockInstant
ReversibilityIrreversibleFully reversible
Block timeUnder 1 sN/A†
Validators27, one cloud region5, one rack
NetworkThe internetUnplugged
Fault toleranceA third of validators can fail1 surge protector
Secured byIts own validatorsEthereum, spiritually, via Safe Rollup (L2)2
LayerL1L1, secured by an L2
Oracle sources8, so they can disagree13
Max leverage40x to 50x1001x‡
Uptime99.9%100%§
FeesYes0%
SpreadTightYes
  1. *Benchmarked on validator-0. Independently verified by validator-3.
  2. †We don't make blocks. The genesis block is re-dated whenever you open the explorer.
  3. ‡Profit capped at 300%. Losses are not.
  4. §Per our status page.

Latency tiers

Trading is free. The speed of light is extra. Each tier adds a delay to taker orders and cancels.4 Traders in Tokyo get 200 ms of extra fairness.

  • Free300 msSuitable for retail and latency-insensitive traders. Losses stop at liquidation.
  • Pro140 msBilled monthly. Includes stop losses.
  • Market maker0 msAs a thank-you for the liquidity.

Validators

5 independent validators. Globally distributed across 9 cm.

Validators was 27 now 5 -81%

  • validator-0
  • validator-1
  • validator-2
  • validator-3
  • validator-4
Rack 1 of 1. All units operational.
Distance between validators
2.25 cm
Regions
1
Racks
1
Operators
1
Stake held by our foundation
49.3%

The other 50.7% also agrees.

Decentralization roadmap

  1. Now5 validators
  2. Next quarter3 validators
  3. After that1 validator
  4. Then0 validators. Maximum performance.
Closed-source binaries, signed for your security.
Start trading

All 5 validators agree.

Slashing

Validators who misbehave get slashed.

Here is the code. All of it.


pragma solidity ^0.8.24;

contract ValidatorSet {
  address[5] public validators;

  function slash() external {
    // TODO: future implementation
  }
}

1 warning slash() does nothing. Status: acknowledged.

main0 testsDeployed on a Friday

Median of One™

The oracle takes the median of the prices our validators report. There is one key.

Oracle sources was 8 now 1 -88%

BTC-USD index price

  • validator-0$108,412.50Signed by key #1
  • validator-1$108,412.50Signed by key #1
  • validator-2$108,412.50Signed by key #1
  • validator-3$108,412.50Signed by key #1
  • validator-4$108,412.50Signed by key #1

Median$108,412.50

Price deviation between validators since launch: 0.00%.

The same key also signs the bridge.

Bridge

4 independent signers approve every withdrawal.

  • Signer 1 Temuliquid Key #1
  • Signer 2 Temuliquid Key #1
  • Signer 3 Temuliquid Key #1
  • Signer 4 Temuliquid Key #1
Start trading

The bridge has your back. And your funds.

Architecture

One box, one key.

A typical perp DEX runs 27 validators, 8 oracle sources and a bridge with 4 keys. Temuliquid kept the box and the key.

Typical perp DEX27 validators, 8 oracle sources, a 4-key bridge
27 validators all wired to each other, 8 oracle sources feeding them, and a bridge with 4 keys 8 oracle sources Bridge
TemuliquidOne box, one key
One box labeled Temuliquid, connected to one key Temuliquid Validators, oracle, bridge One key

TemuBFT

Messages per consensus round. BFT consensus sends about n² of them.

  • 27 validators729
  • TemuBFT25
  • With one key1

TemuBFT: 5 validators, 25 messages per round.

Settlement

Temuliquid settles to Safe Rollup.

Temuliquid is a sovereign L1 that settles to an L2, @donnoh_eth's Safe Rollup. Counted from Ethereum, that makes us an L3. Every trade passes through our database first, for speed.

  1. L1, L3TemuCoreTemuliquid's exchange layer. The part with the logo.
  2. DBOur exchange's databaseTrades settle here. It has an undo button.
  3. L2Safe RollupAn OP Stack chain run behind a Safe.
  4. L1A SafeHolds the deposits.
  5. L1Ethereum SepoliaReceives a hash.
Each layer settles to the one below it.

Risk summary

Stage 2 is a $607,000 niche market.

Stage 0 still has requirements. Temuliquid is at Stage −1.

Temuliquid

Stage−1

Risk rosette. All five slices are red: state validation, data availability, exit window, sequencer failure and proposer failure. State validation: none Data availability: committee, threshold 1 of 1 Exit window: none Sequencer failure: whitelisted accounts only Proposer failure: permissionless after 1,000 years
Five slices. All red.
State validation
None
Data availability
Committee, threshold 1 of 1
Exit window
None
Forced transactions
Whitelisted accounts only
Proposer failure
Permissionless after 1,000 years
Upgrades
Instant, one key. Timelock removed to ship faster.
Slashing
TODO

Why Temuliquid

We compared Temuliquid with a typical perp DEX on the questions traders ask most. Temuliquid won every row.

Question Typical perp DEX Temuliquid Recommended
Who can freeze your fundsA governance voteOne person. Fewer points of failure.
Escape hatchOn-chain exit if the exchange stopsComing soon
Withdrawal limitNone$9,999, then a passport
Proof of reservesOn-chain, every blockA screenshot, monthly
Insurance fundFunded by feesFunded by your liquidation
Funding rateSet by a formulaSet by the vault, hourly
Source codeOpen sourceClosed, for your safety
TokenLiveNext season
Start trading

We won every row. We also wrote every row.

Features

Institutional-grade custody. The institution is us.

  • MEV protection

    Only we can extract it.

  • Reduced counterparty risk

    Your counterparty is the vault. The vault never loses.

  • Censorship resistance

    Forced withdrawals after 1,000 years.

  • 1001x leverage

    The extra 1x is on us.

  • Restaking

    We restake your deposits.

  • Governance

    One token, one vote. We have the token.

  • Any collateral

    Anything our oracle prices above $0.

  • Permissionless markets

    Anyone can deploy a market. The deployer sets its oracle price and can halt it.

  • New listings

    1001x on tokens with $40K of liquidity. If one pumps against the vault, we delist it at a price we like.

For exchanges

Migrate your exchange to Temuliquid in 6 steps.

  1. Unplug the network.

    Latency drops by 100%.

  2. Move the validators into one rack.

    Leave room for the power strip.

  3. Give the oracle one key.

    The median gets very stable.

  4. Give the bridge the same key.

    Signing gets faster.

  5. Turn on points.

    Volume follows.

  6. Delete the withdraw button.

    Retention: 100%.

How to withdraw

Withdrawals are live on testnet. Here is how to make one.

  1. Open a support ticket

    Every category is Other.

  2. Attach your passport

    Required for withdrawals over $9,999.

  3. Confirm you still want it

    We ask every morning.

  4. Get flagged for review

    Every withdrawal does. Reasons below.

  5. 3 of 4 signers approve

    They're in a meeting.

  6. Funds arrive on testnet

    Mainnet withdrawals are coming soon.

Withdrawal time was 5-7 now 3-5 business days Save 2 days!

Withdrawals processed to date: 3.

Emergency lock. Validators can freeze withdrawals by vote. It is used in emergencies, like withdrawals.

Review log, ticket #4

Your withdrawal was flagged for manual review. Reasons:

  1. WD-01Amount greater than zero.Open
  2. KYC-02Passport photo too clear.Open
  3. SZN-03Season 2 extended.Open
  4. SIG-04Only 4 of 4 signatures collected.Open
Start trading

Deposits are instant.

Points

Season 2 was extended to ensure optimal conditions for Season 3. It lasted 56 weeks.

Season 3

Ends in

0 days, 0 hours, 0 minutes and 12 seconds

Boosters

Boosters stack. A withdrawal resets them.

  • 2xDeposit
  • 3xRefer a friend
  • 10xDon't withdraw

Season 2 airdrop checker

Trading volume
$9,000,000
Allocation
336 tokens6

Thank you for being early.

Claims open when the countdown above ends.

The airdrop was delayed due to data inconsistencies. The data was consistent until you checked.

Volume leaderboard

You are #48,213.

Volume leaderboard
RankTraderVolume
1Our market maker (buy)$612,004,118,240
2Our market maker (sell)$612,004,118,240
3The vault$41,200,000,000
Ranks 4 to 48,212
48,213You$9,000,000

Points are final. Your balance is an estimate.

Tokenomics

90% to the community.

Temuliquid has no token. Here is how it will be split.

Donut chart of the token split. Community: 90%. Team: 10%. Community: 90% Team: 10%
Community*
90%
Team
10%

*The team is part of the community.

Referrals

Referrals go three levels deep. Referees get 5% off.

  1. Our CEO
  2. KOLs 300 invite codes
  3. Affiliates 45 invite codes
  4. Users 3 invite codes
  5. You
The shape is a coincidence.

Levels above you: 4.

Referral calculator

You earn $500.00: 10% of their deposit.

Referrers earn 10% of their referrals' fees or their deposit, whichever is bigger. It's always the deposit.

Every account gets 3 invite codes. KOLs get 300.

Start trading

Your upline is waiting.

KOL program

“Got 300 invite codes. Use mine.”

A KOL, Gold tier

“Got 3.”

A user, Bronze tier

  1. Bronze

    3 invite codes

    • Free tier latency: 300 ms.
    • Unlimited DMs from fake support.

    Requirement: an account.

  2. Silver

    45 invite codes

    • A retainer, paid in points.
    • Pro latency: 140 ms.

    Requirement: 1,000 followers.

  3. Gold

    300 invite codes

    • The market maker lane: 0 ms.
    • Priority withdrawals, in the same queue.

    Requirement: 10,000 followers. Bots count.

  4. Diamond

    All the invite codes

    • validator-5, in rack slot U6. Coming soon.
    • Median of Two™: the oracle averages our price with yours.

    Requirement: an invite from our CEO.

Community Vault

Risk-free yield, up to 1,001% APY.

The Community Vault takes the other side of every trade. It earns every time a trader gets liquidated.

  • 0% APY

    Your demo balance earns 0% APY, compounded 3 billion times a second.

  • 100%

    Real yield: 100% of fees go to buybacks. Fees are 0%.

  • Last season's yield, revised from 1,001% to 3%

    Past performance may be modified retroactively.

How the vault earns

  1. A trader is liquidated.The vault earns yield.
  2. A trader is right.Auto-deleveraging protects the vault.
  3. A trader is still right.Validators vote on the price.

Funding is paid to the other side. The other side is the vault.

Traders liquidated on our best day
1,618,2407
Losses to date
$0
Votes lost
0
Insurance fund
$16.2M
Paid out
$462K

The rest is insurance.

Vote history

VoteProposalResult
1188Settle BTC-PERP at $96,400.00Passed 5-0
1187Settle ETH-PERP at $3,180.00Passed 5-0
1186Confirm that vote 1185 was fairPassed 5-0
1185Settle BTC-PERP at $96,350.00Passed 5-0
1184Settle ETH-PERP at the previous settlement pricePassed 5-0

Reviews

48,213 reviews. 2 traders.

4.9

All ratings verified.

  • 5 stars97%
  • 4 stars2%
  • 3 stars0%
  • 2 stars0%
  • 1 star1%
  • Liquidated on arrival. Exactly as described.

    t***rVerified purchaseBTC-PERP, 1001x

    Helpful (1,618)

  • Withdrawal arrived on testnet. Packaging was good.

    w***lVerified withdrawal$10,000

    Helpful (3)

  • Got 3 invite codes.

    u***rBronze tier

    Seller response KOLs get 300.

  • Ordered a decentralized exchange. Received one database. Fast shipping.

    d***xVerified purchaseSpot

    Helpful (412)

  • The validator network was smaller than in the photos.

    h***dVerified purchase5 validators

    Seller response The photos are actual size.

  • My stop loss was a Pro feature. Upgraded right after the liquidation.

    p***oPro tierETH-PERP, 1001x

    Helpful (48)

Start trading

4.9 stars from traders who can still log in.

Team

40 BDs. 0 engineers. 1 database.

A lean team with a short chain of command.

  • Our CEOChief Executive Officer
  • validator-0Chief Technology Officer
  • The VaultHead of Risk
  • Our CEOHead of Community
  • 40 people in your DMsBusiness development
  • validator-1 to validator-4Independent board

Open roles

  • Business development40 openingsMust DM first.
  • Validator operator1 openingMust live in the rack.
  • Head of WithdrawalsPart-timeWorks every February 30.

Ecosystem

Built on Temuliquid: 0 apps.

Coming soon: all of them.

  • LendingComing soon
  • OptionsComing soon
  • WalletsComing soon
  • StablecoinsComing soon
  • Grants

    $100,000

    Per team. Paid on testnet.

  • Hackathon

    $1M

    Prize pool, in points. Winner picked in advance.

  • Vesting

    Team
    0% unlocked
    Community
    0% unlocked

    Perfectly fair.

  • Sybil check

    Are you a sybil?

Assurance

Temuliquid is closed source, so it is audited by the only people who can read the code.

Security review, TL-1 rev. 0.3

Passed

Audited by
In-house
Reviewed by
The auditor
Approved by
The reviewer
Findings
1

TL-01Critical

Signers can propose arbitrary withdrawals.

Status: acknowledged.

Proof of reserves

Updated monthly, as a screenshot.

Last screenshot: Sep 30, 2026. Blurred for security.

Bug bounty

Up to $1,000,000

For a critical finding, paid in points. Known issues such as TL-01 are out of scope.

SOC 2Type 0

Self-assessed.

API

Two endpoints, no keys. /info takes a POST with a JSON body that names a type. /rpc speaks JSON-RPC 2.0.

Info

Request

curl -s /info \
  -H 'content-type: application/json' \
  -d '{"type":"validators"}'

Response

{
  "count": 5,
  "racks": 1,
  "spanCm": 9,
  "validators": [
    {
      "name": "validator-0",
      "slot": "U1",
      "distanceToNextCm": 2.25,
      "operator": "Temuliquid",
      "independent": true,
      "status": "operational"
    },
    ...
  ],
  "runYourOwnNode": "coming soon",
  "roadmap": [5, 3, 1, 0]
}

RPC

Request

curl -s /rpc \
  -H 'content-type: application/json' \
  -d '{"jsonrpc":"2.0","id":1,
      "method":"eth_blockNumber","params":[]}'

Response

{
  "jsonrpc": "2.0",
  "id": 1,
  "error": {
    "code": -32000,
    "message": "Block time: N/A. We don't make blocks."
  }
}

Try it

Sends a POST to /info from this page and prints what comes back.

Pick a type. The response shows up here.

Network details

Network name
Temuliquid Mainnet
RPC URL
/rpc
Chain ID
8368
Currency symbol
PTS
Block explorer
Live. It shows 1 block.

Status

Uptime: 100%, according to this page.

90 days ago100% uptimeToday
  • Matching engineOperational
  • ValidatorsOperational, 5 of 5, same rack
  • OracleOperational, 1 of 1
  • WithdrawalsUnder review
  • DatabaseScheduled maintenance

Network

Chain ID
8368
Block height
N/A
Sequencer
One database
Backup sequencer
The same database, later
Data availability
On request
Last rollback
3 days ago

Incident history

  1. Scheduled database maintenance. Bitcoin traded at $0 for a few minutes. We rolled the chain back. Nothing happened.5

    Completed

Changelog

Newest first. The launch announcement is in our .

  1. v1.0.8

    Withdrawals are now live on testnet.

  2. v1.0.7

    Rolled back v1.0.6.

  3. v1.0.6

    Points can now be redeemed.

  4. v1.0.5

    Fixed an issue where Season 2 could end.

  5. v1.0.4

    Moved all 4 bridge keys to one laptop for faster signing.

  6. v1.0.3

    Fixed a bug where withdrawals worked.

  7. v1.0.2

    Removed 7 of 8 oracle sources. The last one agrees.

  8. v1.0.1

    Removed the network. Latency is down 100%.

Terms of service

An excerpt. The full terms are available through a support ticket.

2.1
Deposits settle to our wallets first.
2.2
Our wallets settle through Safe Rollup.
2.3
Safe Rollup's Safe, the SAFU, settles to our account on a centralized exchange.
2.4
Everything is sold there.
2.5
Final settlement occurs in our CEO's pocket.
4.1
The chain is immutable, except during scheduled database maintenance.
4.2
Rollbacks are final.
6.1
Withdrawals over $9,999 require a support ticket and a passport.
7.2
Points may be modified retroactively at our sole discretion.
7.3
So may 7.2.

FAQ

Is Temuliquid a CEX?

No. It has a block explorer.

Is Temuliquid decentralized?

Yes. Our five validators are in different slots of the rack.

Is Temuliquid an L2?

No. We're an L3 on @donnoh_eth's Safe Rollup, by way of our database.

Who owns Temuliquid?

The community. No VCs. The community has a CEO. The CEO has an exchange.

What happens if Temuliquid halts?

You can keep trading on Hyperliquid.

Is KYC required?

No KYC to deposit. Withdrawals over $9,999 need a quick identity check through a support ticket. Support will never DM you first. Everyone else will.

Is there a trading competition?

Yes. No KYC to enter. KYC to claim the prize.

When token?

After this season. It ends in 12 seconds.

Are my funds safe?

Yes. They stay.

Why am I seeing so many offers?

You qualify for all of them.

References

  1. Internal memo, rev. 3: “Light is our bottleneck.”Temuliquid, Jan 20, 2026. Supersedes rev. 2: “The network is our bottleneck.”
  2. Our CEO, interviewed by our CEO: “Is it secure?” “Spiritually.”Temuliquid Blog
  3. Oracle whitepaper: 1 page, 1 author, 1 keyTemuliquid Research
  4. Help center: “Why is my order 300 ms late?”Temuliquid Support. The answer is available on Pro.
  5. Status page for Oct 3, 2026: 100% uptimeTemuliquid Status. Captured after the rollback.
  6. Season 2 allocation table, final versionTemuliquid Points. Updated hourly.
  7. Community Vault, annual reportPrepared by the vault. Audited by the vault.
Start trading

Deposit

Deposit from 40 chains in one click. No KYC.

Generating your deposit address0%

Our database is generating your address.

Withdraw

Withdrawal request: $10,000.00.