FAQ

What is 0xMarkets? 0xMarkets is a decentralized FX perpetual futures exchange (Perp DEX) where traders can access currencies, commodities, and other RWAs with leverage up to 500x. Liquidity is powered by the Cartha Subnet (SN35), built on Bittensor, where miners act as liquidity providers (LPs)

What assets are supported? Initially major FX and Crypto pairs and Gold, expanding to other commodities, crypto and more real-world assets (RWAs)

What collateral is used? Only USDC is accepted as collateral across all markets

How much leverage can I use? Up to 500x leverage on supported markets

Do I need permission to trade? No. Onboarding is fully permissionless

What fees will I pay? A fixed trading fee, plus possible funding payments depending on long/short imbalances

How do miners participate? Miners deposit USDC into vaults specific to each market. Each vault is isolated, so risk stays within that market

What are the minimum requirements? Miners must maintain $200k–$1M USDC collateral over time and commit funds for epoch durations

What rewards do miners earn?

• 60% of trading fees from the protocol

• ALPHA emissions, based on a time-weighted deposit score (amount × duration)

What do validators do? They cross-verify external price feeds from multiple oracle providers, prevent manipulation, and act as executors for liquidations

How are validators incentivized? Validators earn 20% of liquidation fees and may post ALPHA collateral to participate. They can also be slashed if they miss liquidation duties

When do liquidations happen? When a trader’s margin requirements are breached, their position is liquidated automatically

How are liquidation fees distributed? A 10% fee is charged, split:

• 20% to validators

• 50% to the insurance pool

• 30% to ALPHA buyback & burn

What is the insurance pool? Funded via liquidation fees, it covers black-swan events and liquidity gaps. Deployment is governance-controlled

How does governance work? Lock ALPHA to receive veALPHA. veALPHA holders direct emissions and adjust key parameters

What votes can veALPHA holders cast?

• Alpha Voting: Decide which vaults receive emissions

• Fees Voting: Adjust fee splits and protocol parameters

Do longer locks matter? Yes. Longer ALPHA locks = more voting weight and a larger share of protocol fees

What funds the treasury?

• 10% of trading fees

• Optional share of funding payments

What is the treasury used for? Treasury allocations are governance-controlled and may fund development, growth, or ecosystem initiatives