Onchain Infra · Markets & Payments · 20 / 22
Swapping one asset for another
DEXs, aggregators and market makers let any token be swapped for another, including one stablecoin for another, without a broker.
Where it connects
AMMs
Pools priced by formula.
Orderbooks
Bids and asks, onchain or app-chain.
Intents and RFQ
Solvers and market makers compete to fill.
Across ecosystems, not one chain.
Depth near the peg
Fees and slippage
Fragmentation across venues
On Tempo · In the protocol
An enshrined orderbook for stablecoin FX, with every token routing through one quote token.
1bp
Tick grid
±2%
Price band
1
Routing tree
Quote-token tree
One pathUSDX → pathUSD → OUSD · one tx
Orderbook
1bp ticks · ±2%Enshrined orderbook
Native price-time priority stablecoin trading
Quote-token tree
Every token routes through pathUSD
Flip orders
Fills auto-reverse for perpetual liquidity
Multi-hop swaps
USDX → pathUSD → OUSD in one tx