Cross-Runtime Margin Trading

We want to make centralized Tezos trading obsolete. Our aim is to bring the trading capabilities that still draw users to centralized venues into decentralized markets on Tezos, where that activity connects directly with the rest of the Tezos economy. As trading, credit, staking, and commerce become more closely integrated, activity in each strengthens the others and creates the conditions for broader, self-reinforcing growth.

The Tezos X roadmap gives us the execution environment to extend TEZEX beyond conventional DeFi trading and build a more complete on-chain market around Tezos-native liquidity and credit. It lets us bring faster, more sophisticated trading into Tezos while connecting those native markets more directly with external liquidity and infrastructure, helping grow the Tezos economy as a whole.

The margin-trading model described earlier combines TezFin credit with TEZEX execution. Tezos X extends that model across runtimes through Native Atomic Composability, allowing the different parts of a position to interact within the same execution flow even when the liquidity or infrastructure they use sits in another runtime.

This gives TezFin-managed credit access to a much larger execution market. A position originating in the Tezos-native financial layer reaches external liquidity through the EVM runtime, while TEZEX coordinates the trade and TezFin manages the collateral, debt, and health of the position.

For the trader, the runtime boundary increasingly disappears from the experience. TEZEX handles execution across available liquidity while TezFin maintains the credit position underneath it. We are building that foundation toward leveraged positions, collateral changes, debt swaps, repayment with collateral, and controlled unwinds that draw on liquidity across Tezos X.