Introduction

AZX is the flagship decentralized exchange within the AZ ecosystem, providing users with a unified trading experience across Spot Trading and Perpetual Trading.

Built on the AZ protocol and powered by shared liquidity and execution infrastructure, AZX delivers deep liquidity, transparent execution, and consistent market behavior while serving as the primary reference implementation of the AZ network.


The AZ Ecosystem

AZ is an open finance ecosystem designed to aggregate liquidity, standardize execution, and enable composable market access across multiple channels.

At the core of the ecosystem is a shared protocol layer that provides:

  • Unified orderbook-based execution

  • Shared liquidity across markets and channels

  • Transparent fee accounting and settlement

  • Consistent risk controls and pricing mechanisms

All trading activity within the AZ ecosystem adheres to the same protocol-level rules, ensuring fairness, neutrality, and verifiability regardless of the interface used.


AZX: The Flagship DEX of the AZ Ecosystem

AZX serves as the flagship decentralized exchange of the AZ ecosystem.

As the primary trading venue, AZX offers:

  • Full support for Spot Trading and Perpetual Trading

  • Direct access to aggregated ecosystem liquidity

  • Transparent, protocol-level fee structures

  • Real-time market data and execution visibility

For users, AZX represents the most direct and complete way to interact with the AZ protocol.


AZX as a Reference Builder

In addition to being a flagship exchange, AZX also operates as a specialized Builder within the AZ Open Network.

AZX follows the same architectural principles and integration standards applied to other ecosystem participants, including:

  • Standardized order routing and execution logic

  • Unified data indexing and market state synchronization

  • Consistent presentation of trading data and positions

  • Protocol-compliant fee calculation and settlement

By adhering to these shared standards, AZX serves as a reference implementation for how frontends can integrate with the AZ protocol.

This design allows AZX to function not only as a trading venue, but also as a practical blueprint for future builders and channels seeking to connect to the AZ ecosystem.


Open Network and Future Expansion

The AZ ecosystem is designed as an open network, where additional channels and builders may participate over time.

All ecosystem participants operate on shared infrastructure and follow common protocol rules, ensuring:

  • Liquidity is not fragmented

  • Execution behavior remains consistent

  • Market data is transparent and verifiable

As the ecosystem expands, AZX continues to act as both the flagship exchange and a living example of best practices for frontend integration and user experience within the AZ Open Network.


Summary

AZX combines the roles of a flagship decentralized exchange and a reference builder within the AZ ecosystem. By supporting both Spot and Perpetual trading and adhering to protocol-level standards, AZX delivers a transparent, reliable trading experience while demonstrating how future channels can integrate with the AZ Open Network.

This dual role reinforces AZX’s position at the center of the ecosystem and provides a strong foundation for continued growth and decentralization.

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