Concepts

Non-Custodial Settlement

HyperDex is non-custodial: the protocol never holds taker funds at any point. The sequence is atomic:

→Before the transaction: taker holds token_in in their own wallet
→During the transaction: Soroban atomically moves token_in from taker → maker_pool, and token_out from the pool → taker
→After the transaction: taker holds token_out; the pool holds token_in (minus fees)

If any step fails (bad signature, expired quote, insufficient pool balance), the entire transaction reverts. The taker's original tokens are never at risk.

Maker funds in the pool: Maker inventory held in the maker_pool is at the maker's own risk. Makers should monitor their pool balance and manage exposure accordingly.

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