Gryps Documentation

High Level Architecture

Complete legacy documentation content, presented in the new Gryps docs interface.

High Level Architecture

Flow of a Trade (Intent → Quote → Settle)

  1. 01

    Trader submits an intent (side/size/leverage/constraints).

  2. 02

    Solvers compete to quote price and execution parameters.

  3. 03

    Trader accepts the best quote.

  4. 04

    Symmio settles the bilateral agreement on‑chain against the trader’s cross‑margin USDC collateral.

Accounts & Collateral (Cross‑Margin)

  • Single USDC collateral account backs all positions.
  • Unrealized PnL nets across positions, enabling higher capital efficiency.
  • Deposits are immediate; withdrawals finalize after a 12‑hour fraud‑proof window.

Leverage & Risk Controls

  • Max leverage: per‑market caps as configured by hedgers within Symmio constraints (see Markets snapshot).
  • Initial Margin (IM): Minimum capital to open new exposure; scales with leverage and market risk.
  • Maintenance Margin (MM): Minimum capital to keep positions open; breaching MM triggers liquidation.
  • Liquidations: If account health falls below MM, positions can be reduced/closed to restore solvency. CVA mechanisms ensure counterparties remain whole.

Funding Mechanics

  • Funding aligns perp pricing with spot via periodic transfers between longs and shorts.
  • Parameters (epoch/window/direction) follow Symmio’s model and per‑market configs.
mermaid
flowchart LR
  A[Start Epoch] --> B[Observe mark vs index]
  B --> C[Compute funding rate]
  C --> D[Accrue funding]
  D --> E[End Epoch]
  E --> F[Apply balance adjustments]

Oracle & Pricing

  • Quotes reflect solver pricing; on‑chain settlement uses Symmio’s standard validations (including Muon‑based signatures where applicable) and risk checks.

Solvers & Hedging

  • Orbs’ solver network provides competitive quotes, uptime SLAs, and inventory management (hedging may occur off‑chain).
  • Execution is atomic from the trader’s perspective; settlement remains on‑chain and verifiable.
mermaid
flowchart TD
  H0[Risk Check] -->|Health OK| H0
  H0 -->|Health < MM| L0[Partial Close]
  L0 --> H1[Re-check Health]
  H1 -->|still < MM| L1[Further Close]
  H1 -->|>= MM| S0[Stabilized]