t+:THE FIRST DECENTRALIZED BROKERAGE

PROPERTIES:

  • trades fill in under 1 millisecond
  • supports every onchain asset and product in one box - with leverage
  • minimal market maker costs → quotes are excellent
  • Decentralized, Permissionless, Private
Last updated: 2025-04-11 // C:\SYSTEM\PERFECT-MARKETS> _

It’s the OTC & Prime Broker Stack - decentralized - composable with the defi orderflow supply chain - and using all of defi as it’s ever-expanding product suite.

it’s the new thing

We’re fixing orderflow execution

(for around the hundredth time)

Orderflow execution in crypto sucks. We all know this - we’ve all heard the pitch.

But it’s true

✘ OOPS: Liquidity is fragmented
⚠ SAD: Confirmation times suck
ℹ 😹: EVERY decentralized venue even "sophisticated" solver networks have bad markouts

Most solutions fail at improving things because they implement N+1 fixes to self inflected problems. This has predictable results

BREAKING NEWS!: The new super fast isolated execution environment increased liquidity fragmentation
BREAKING NEWS!: The chain abstraction network increased cost and latency
BREAKING NEWS!: Another auction that sells the right to pick off market makers had minimal impact
MISSION FAILED: Orderflow execution still sucks.

Instead of continuing the trend. t+ took a top down approach, and solved for what user’s NEED from their orderflow execution:

To fit all these properties in one product
t+ decouples trade Confirmation from Settlement
and optimizes each seperately

TRADE CONFIRMATION

Orders are processed in an offchain orderbook ran in a TEE(trusted execution environment)
  • Under 1ms time to confirmation
  • No dealing with chains
Deposits can be any asset - and are made and stored on any chain. We even support some centralized services
  • t+ supports all assets instantly
Market maker costs are minimized
C:\SYSTEM\OPTIMAL-CONFIRMATION >
>

TRADE SETTLEMENT

Market makers hold unsettled trades in-inventory on-margin and perform settlements on a delayed basis, using any chain, protocol, or asset
  • Settlements can be batched or exposure can be offset (making settlement unnecessary)
  • Onchain liquidity serves as a "latent bid" since market makers can instantly settle into it
Settlements can be performed using any user's deposits
  • Market makers have negligible rebalancing or capital costs
C:\SYSTEM\OPTIMAL-SETTLEMENT >
Our Plans For
World Domination

Phase 1: A Really Really Good DEX

(bet you never heard of one of these)

t+’s product offering, as a decentralized brokerage, is the best on market.

✅ Every asset
✅ Leverage
✅ Fast Confirmations
✅ Excellent Quotes (positive markout to every dex)
✅ Permissionless and Trustless
✅ Etherfi restaking is our insurance fund (3b in insurance)

There isn’t an equivalent

It’ll be offered initially via website UI, telegram bot, and high-performance binary overlay

Product doesn’t matter - how do we get users?

USER OWNERSHIP
t+Cut

The highest quality takers in the space are co-leading this round.

We’re building with them from day 1

C:\SYSTEM\REAL-BD > _
PERSONAL ONBOARDING
t+Cut

In crypto people try products because they trust and like the people building them.

We plan on aggressively onboarding 1-on-1 in addition to the typical strategies of sponsoring streamers, running exclusive poker games, the usual.

C:\SYSTEM\REAL-BD > _
PRICE MATCHING
t+Price

We’re confident we will almost always fill at a premium to chain.

We’ll refund you if we don’t.

C:\SYSTEM\REAL-BD > _
TRADING GAMES POWERED BY t+
t+Game

t+ supports arbitrary orderbooks with custom rules.

We’re going to use this to create trading games like The Pit (an AI agent pit trading game focused on class warfare)

C:\SYSTEM\REAL-BD > _
VAMPIRE ATTACKING CEXS
t+Vampire

t+ offers the same UX as a CEX, a broader product, and lower counterparty risk.

Using TEE's we can encumber CEX traders account credentials and trustlessly (and confidentially) verify their volume, fee tier, etc. Then offer them more perks, assets, and incentives than they had on the CEX

C:\SYSTEM\REAL-BD > _
Where’s the cash - what’s our upside?
RECOGNIZE THIS CHART?
(I'm sure it's in every dex pitch deck these days)
Hyperliquid

This is super acheivable for t+

We have the same go to market as hyperliquid (trade new thing here) - but better since we have every new thing instantly and automatically.

ALSO

liquidity ▲
trust requirements ▼
fill quality ▲
counterparty risk ▼
speed ▲


AND our initial taker base is better.

C:\SYSTEM\PRINT-MONEY > _

Phase 2: An Orderflow Execution Platform

t+ supports arbitrary orderbooks with custom properties, all cleared and settled by the same core system. This means we can offer things like:

Deck of Execution Venues
Compliant Orderbook
> Only entities that have passed KYC/AML can trade
> Essential for institutions entering crypto
Enables selling t+ to mid-tier CEX's as a "backend" to simplify their liquidity and listings
Deck of Execution Venues
Private Dark Pools
> Manager chooses who can trade and can restrict them to making or taking only
> Manager chooses who can see trade information
> Useful for trading illiquid and sensitive assets
OTC desks can maintain private sales funnels while using t+ to lower trust and capital requirements
Deck of Execution Venues
Options Orderbook
> t+ orderbooks support everything needed by an options book:
  • privacy
  • prioritized cancels
  • margin
  • etc
> Modified margin engine that supports exotic collateral (short LP tokens) - improving hedging capital efficiency
Decentralized options! (finally)
Deck of Execution Venues
Token Warrant and SAFE Orderbooks
> Accredited investors only
> Prove ownership with zktls
> Provides a liquid venue so these locked assets can be used as collateral

Put the TG groups out of business!

Deck of Execution Venues
Equities Exchange
> KYC/AML compliant participants
> Market makers can cross margin with a tradfi brokerage account
> Market make equities by:
  • Selling short on t+
  • Hedging on a tradfi brokerage
  • Margin engine considers you flat
Boom! Decentralized equities marketplace

t+Team

  • Markus (Founder)
    • 5 years of designing and building DeFi protocols
    • Orderflow Supply Chain Research
    • @markus_0_
  • Tommaso
    • 5 years of professional rust development (19 btw)
    • TEE Research
  • Serge
    • 10 years equities latency arb
    • Stint in routing and perps on Solana
    • French
  • Charco
    • Widely considered the best consumer BD in the industry
    • eboy
    • Orderflow Supply Chain Research
    • @CharcoOnchain
  • Ryan
    • 7 years systematic trading and searching
    • Multicoins first engineering hire
  • Jules
    • 4 years in low-level EVM working on dev tooling
    • Has a cute dog

t+Advisors

  • 0xTaker
    • Former CTO @Aori
    • Former Market Making @GSR
    • Former Searcher
    • Former CSGO Skin Market Maker
    • @0xTaker
user@t-plus:~$ ./specifications.sh
t+ specifications
PASSWORD REQUIRED
Please enter the last paragraph of Options Volatility & Pricing by Sheldon Natenberg
>
user@t-plus:~$ ./specifications.sh
Just Kidding! Welcome to perfect markets.
****************************************************************************************************
      ****************************************************************************************************
      ****************************************************************************************************
      ****************************************************************************************************
      ****************************************************************************************************
      ********************************************+===----===+********************************************
      ************************************+=-::::::::::::::::::::::-=+************************************
      ********************************+-::::::::::::::::::::::::::::::::-+********************************
      *****************************=::::::::::::::::::::::::::::::::::::::::=+****************************
      **************************+-::::::::::::::::::::::::::::::::::::::::::::-+**************************
      ***********************+=::::::::::::::::::::::::::::::::::::::::::::::::::=+***********************
      **********************=::::::::::::::::::::::::::::::::::::::::::::::::::::::=**********************
      ********************=::::::::::::::::::::::::::::::::::::::::::::::::::::::::::=********************
      ******************+-:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::+******************
      *****************=:::::::::::=@@@@@%+::::::::::::::::::::::::::=%@@@@@=:::::::::::=*****************
      ****************=::::::::::::=@@@@@%+::::::::::::::::::::::::::=%@@@@@=::::::::::::-****************
      ***************-:::::::::::::=@@@@@%+::::::::::::::::::::::::::=%@@@@@=:::::::::::::-***************
      **************-::::::::::::::=@@@@@%+::::::::::::::::::::::::::=%@@@@@=::::::::::::::-**************
      *************-:::::::::::::::=@@@@@%+::::::::::::::::::::::::::+%@@@@@=:::::::::::::::-*************
      ************=::::::::::::::::=@@@@@%+::::::::::::::::::::::::::=%@@@@@=::::::::::::::::=************
      ***********+::::::=%%%%%%%%%%@@@@@@@@@@@@@@@@@@=::::-%%%%%%%%%%@@@@@@@@@@@@@@@@@%=::::::+***********
      ***********-::::::=@@@@@@@@@@@@@@@@@@@@@@@@@@@@=::::-@@@@@@@@@@@@@@@@@@@@@@@@@@@@=::::::-***********
      **********+-::::::=@@@@@@@@@@@@@@@@@@@@@@@@@@@@=::::-@@@@@@@@@@@@@@@@@@@@@@@@@@@@=:::::::+**********
      **********=:::::::=#%%%%%%%%%%@@@@@@%%%%%%%%%%%-::::-%%%%%%%%%%%@@@@@@%##########=:::::::=**********
      **********-::::::::::::::::::=@@@@@@+::::::::::::::::::::::::::=%@@@@@+::::::::::::::::::-**********
      *********+-::::::::::::::::::=@@@@@@+::::::::::::::::::::::::::=%@@@@@+::::::::::::::::::-+*********
      *********+:::::::::::::::::::=@@@@@@+::::::::::::::::::::::::::=%@@@@@+:::::::::::::::::::+*********
      *********+:::::::::::::::::::=@@@@@@+::::::::::::::::::::::::::=%@@@@@+:::::::::::::::::::+*********
      *********+:::::::::::::::::::=@@@@@@+::::::::::::::::::::::::::=%@@@@@+:::::::::::::::::::+*********
      *********+-::::::::::::::::::=%@@@@@+::::::::::::::::::::::::::=%@@@@@+::::::::::::::::::-+*********
      **********-::::::::::::::::::=%@@@@@+::::::::::::::::::::::::::::::::::::::::::::::::::::-**********
      **********=::::::::::::::::::-#@@@@@*::::::::::::::::::::::::::::::::::::::::::::::::::::=**********
      **********+-::::::::::::::::::*@@@@@#-:::::::::::::::::::::::::::::::::::::::::::::::::::+**********
      ***********-::::::::::::::::::-%@@@@@*-:::::::::::::::::::::::+++++++:::::::::::::::::::-***********
      ***********+:::::::::::::::::::+@@@@@@#-:::::::::::::::::::::#@@@@@@*:::::::::::::::::::+***********
      ************=:::::::::::::::::::+@@@@@@@*::::::::::::::::::+@@@@@@@*:::::::::::::::::::=************
      *************-:::::::::::::::::::=@@@@@@@@#-::::::::::::-#@@@@@@@@+:::::::::::::::::::-*************
      **************-:::::::::::::::::::-#@@@@@@@@@%#*===+*%%@@@@@@@@@#-:::::::::::::::::::-**************
      ***************-::::::::::::::::::::-%@@@@@@@@@@@@@@@@@@@@@@@@%=::::::::::::::::::::-***************
      ****************-::::::::::::::::::::::+@@@@@@@@@@@@@@@@@@@@*::::::::::::::::::::::-****************
      *****************=::::::::::::::::::::::::-*%@@@@@@@@@@%*=::::::::::::::::::::::::=*****************
      ******************+-:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::+******************
      ********************=::::::::::::::::::::::::::::::::::::::::::::::::::::::::::=********************
      **********************-::::::::::::::::::::::::::::::::::::::::::::::::::::::-**********************
      ***********************+=::::::::::::::::::::::::::::::::::::::::::::::::::-+***********************
      **************************=::::::::::::::::::::::::::::::::::::::::::::::=**************************
      ****************************+=::::::::::::::::::::::::::::::::::::::::=+****************************
      ********************************+-::::::::::::::::::::::::::::::::-+********************************
      ************************************+=-:::::::::::::::::::::::=+************************************
      *******************************************++==------==++*******************************************
      ****************************************************************************************************
      ****************************************************************************************************
      ****************************************************************************************************
      ****************************************************************************************************
      ****************************************************************************************************
Press enter to continue...