Private Margin. Fund trades from a shielded balance while keeping margin details and account state out of the public pre-trade path.
Private Perpetuals on Stellar
Trade perpetuals without exposing your position, margin, strategy, or account state, with proof-backed settlement on Stellar.
Private MarginRISC0 MatchingZK SettlementSoroban-Native
Private order flow.
Verifiable settlement.
Private Intents. Submit side, size and order details as private intent data instead of broadcasting them as plaintext order flow.
Verified Settlement. Publish proof-backed state updates after matching, so the market can verify outcomes without seeing a trader's full book.
Another Trading Platform?
Perp DEXs already work. The problem is what they expose.- Positions reveal size, side, leverage, and margin pressure.
- Large trades can signal strategy before execution.
- Liquidation levels become targets.
- Institutions expose more book detail than they should.
- Public order flow creates room for copy-trading and front-running.
Built for serious perps flow.
PNLX ships with the tools traders expect, while sensitive trading state stays private by default.- Market and limit orders
- Private margin and leverage
- Hidden TP/SL and liquidation levels
- Batch execution
- Proof-backed settlement
How PNLX stays verifiable.
Private execution does not remove public verification. PNLX keeps trader state hidden while commitments, ZK proofs, and Soroban settlement make every accepted state transition checkable.
Commitments/nullifiersRISC0-backed batch executionZK margin, liquidation, and position circuitsSoroban settlementPublic aggregate market data
Questions and Answers.
Clear answers on privacy, collateral, matching, and what remains public.
Does private trading mean the market cannot verify trades?
No. PNLX hides user-level trading state by default, then publishes proof-backed state transitions so accepted outcomes remain checkable.
What backs a position on PNLX?
The default collateral path is USDC on Stellar. Underlying perp markets can include XLM, BTC, ETH, SOL, and XRP without making those assets the collateral.
What stays private?
Side, size, margin, leverage, TP/SL, liquidation levels, and account state stay private by default. Aggregate market data remains public.
Where does ZK fit?
The matcher runs private batch execution off-chain and publishes a RISC0-backed settlement proof. Soroban finalizes only the proof-bound outcome.
Is everything hidden?
No. Markets still need public aggregate activity, funding, open interest, and oracle prices so traders can understand market health.
Trade private perps on Stellar.
Connect your Stellar wallet and trade with shielded state, private execution, and proof-backed settlement.