Dexterity is a collection of smart contracts on the Solana blockchain. It provides a
framework for trading any instrument with a defined payoff function, including but not
limited to options, futures, perpetual swaps, and bonds. Dexterity leverages the onchain order book pioneered by Project Serum to manage trades and portfolio balances.
The framework has a modularized design that creates a hard separation between the
mechanical components of trading market infrastructure (e.g. the order book data
structure, position tracking, funding distribution) and the application-specific logic
that relates to the instruments and exchange operators (e.g. settlement algorithms,
margin calculation, liquidation thresholds, fee model). We believe the flexibility this
modular design creates will allow for a wide spectrum of on-chain market types to be
created and supported by the protocol, making Dexterity a new fundamental building
block for decentralized trading applications.