Frequently Asked Questions
General
What is Gryps?
Gryps is an intent-based RFQ perpetuals DEX on the SEI blockchain. It provides institutional-grade execution for on-chain perpetual futures with full self-custody. Trades are settled bilaterally through Symmio's trustless clearing layer, with pricing powered by Orbs' competitive solver network.
What chain does Gryps run on?
Gryps is deployed on SEI, a purpose-built Layer 1 optimized for trading applications. All transactions, settlements, and collateral management occur on SEI.
Is Gryps audited?
Yes. The smart contracts underpinning Gryps have been audited. See the Security & Audits page for full audit reports and details.
Who built Gryps?
Gryps is built on Symmio's trustless clearing layer and uses Orbs' solver network for RFQ execution. The protocol is deployed on SEI, combining these components into a cohesive trading experience.
Trading
What trading pairs are available?
Gryps supports multiple crypto perpetual futures markets. Check the trading interface at app.gryps.finance for the current list of available trading pairs.
What collateral does Gryps accept?
Gryps accepts USDC as collateral. The platform uses a cross-margin system, meaning your USDC balance serves as collateral across all open positions.
What leverage is available?
Maximum leverage varies by market and trading pair. Check individual pair pages on app.gryps.finance for specific leverage limits.
How is pricing determined?
Gryps uses an RFQ (Request for Quote) solver auction model. When you submit a trade intent, solvers compete to offer you the best price. This competitive auction mechanism ensures tight spreads and efficient execution. See How RFQ Works for a detailed explanation.
What are the trading fees?
Fees vary by trade type and market conditions. Fee details are visible in the trading interface when you submit a trade intent.
What order types are supported?
Gryps supports market and limit orders. Details on how each order type works are available in the trading interface.
Funds & Security
Are my funds safe?
Your funds are self-custodied in Symmio's audited smart contracts. Unlike pooled AMM models, Gryps uses bilateral settlement -- each trade is isolated between the trader and the solver. This eliminates shared pool risk. See Bilateral Settlement for more detail.
Where are my funds held?
Your funds are held in Symmio's audited smart contracts on SEI. You retain full custody at all times. Funds are never held by a centralized entity or pooled with other users' collateral.
Why is there a 12-hour withdrawal delay?
The 12-hour delay is a fraud-proof window. It allows the system to verify that all settlements were valid before releasing funds. This is a deliberate security feature that protects traders from invalid or disputed settlements.
Can I get liquidated?
Yes. Gryps is a leveraged trading platform, and positions can be liquidated if your margin ratio falls below the maintenance threshold. Monitor your margin ratio and manage your risk accordingly.
What happens if a solver defaults?
The Symmio clearing layer enforces solver obligations through its smart contract infrastructure. Bilateral settlement isolates risk to individual trades, so a single solver issue does not affect other positions or users on the platform.
Getting Started
How do I start trading?
Connect an EVM-compatible wallet, bridge USDC to SEI, deposit collateral into Gryps, and open a position. See the Getting Started guide for a step-by-step walkthrough.
How do I bridge funds to SEI?
Use the integrated LiFi bridge available directly on app.gryps.finance. It supports bridging from Ethereum, Arbitrum, and other major chains. No need to leave the Gryps interface.
Which wallets are supported?
Gryps supports MetaMask, Rabby, and other standard EVM-compatible wallets. Any wallet that supports SEI's EVM environment should work.
Do I need SEI for gas?
Yes. A small amount of SEI is required to pay transaction fees on the SEI network. You can bridge SEI from other chains or acquire it through a supported exchange.