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A language purpose-built for finance

Programmable swaps

Programmable swaps are a pioneering standard for financial communication and value exchange, which increases capital market efficiency and security.Every programmable swap is an autonomous unit of on-chain code written in the x programming language, a new financial coding language that formalizes definitions of financial exchange and assets.Programmable swaps are the foundation used to connect the fragmented infrastructure of global finance.

A common standard

Lingua franca of finance

Modern finance is fractured and chaotic, programmable swaps simplify it into an uncomplicated common language. Complex financial operations, which would ordinarily require thousands of lines of custom code, can now be expressed in simple and intuitive notation.All programmable swaps share the same architecture and can be settled against each other regardless of asset class (orders, indexes, options, etc.).

Non-Turing complete

Transactions happen within the bounds of a formally verified financial system, to ensure your trades execute securely and exactly as intended. These boundaries are called “trading complete,” which defines the space of all possible trades from orders to the most complex trading and market making strategies.

System agnostic

The system agnostic design of programmable swaps enables the fractured financial markets to finally be connected. For the first time, diverse electronic trading systems, markets and chains can communicate with each other safely and on a peer-to-peer basis.

Understandable by all

Programmable swaps provide a framework for human to human, human to machine, and machine to machine communication. Financial transactions no longer require thousands of lines of code, and are condensed into simple terms that are both machine-readable and intuitively understood by humans.

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Built on sound principles

Research-driven & multi-disciplinary

Programmable swaps allow you to embed assets within financial operations and thereby create complex and emergent asset behavior. Each programmable swap executes fairly and as intended, regardless of whether they are instructed with a simple limit order or a complex market making strategy.The programmable swaps design draws from category theory, type theory, advanced mathematics, and high assurance code engineering. They are the result of many years of first principles based research, as well as experience building and managing financial infrastructure facilitating hundreds of billions of dollars in daily trading volume.
high-assurance codeCertainty through formal verificationFormal design and development methods prove the resilience, fairness, and soundness of all programmable swaps. Having defined the domain of all possible actions - called trading complete - and all possible interactions, programmable swaps provide a framework for self-auditing trading code. A programmable swap meets the high-assurance security standards to execute multi-billion dollar trades or deploy entirely new digital asset designs.
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Programming language of exchange

The x programming language

X is the first language built to meet the strict programmable swap specification standards. The x programming language is to programmable swaps, what Solidity is to Ethereum and what Plutus is to Cardano. Instead of supporting any possible programmed logic (Turing completeness), the x language deliberately limits the possible programs to just be trades (trading complete). The result of this self-imposed limitation is easier to interpret programs, higher performance, and tighter security guarantees through self-auditing programs.

A new way of doing financeProgrammable swaps will change the worldProgrammable swaps allow anybody to trade without infrastructure barriers or arbitrary gatekeepers, flattening the playing field while increasing operational efficiency for institutions and individuals alike.Every financial operation is defined simply, thereby giving the power of financial engineering to the masses and shortening the distance between you and the market.
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frictionless trade without boundaries

One language to connect everyone

Exchange and define value globally - trade on your own terms.