CRX

CRX Data Room

Confidential research

Pick a room. Each opens with its own access code.

One RFQ, three doors — open, transfer, and a liquidation no maker can seeJun 19, 2026The same maker-blind quote gains three taker-side doors — open, transfer, keeper-liquidation — under a no-loss gate proven through four adversarial verify rounds; the headline catch is a par-reflection drain that would have emptied the very side the liquidation exists to protect The unserved NDF marketJun 18, 2026How much corporate FX hedging the bank channel rations away — and the size of the market that leaves for CRX. Sized bottom-up, every assumption shown.The forwards solver, audited — what the register calls closed, and the code calls openJun 14, 2026An independent, hostile read of the new solver against its own claims. Two passes — find every gap, then try to refute it — and every surviving finding cites the source line. The pure core is real. The wires between it and real money are not yet, and several the register marks 'closed and proven' are inert in the running binary, mock-only, or latent behind a flag.CRX contract audit — the rebuild, function by functionJun 14, 2026Every state-changing function and every branching helper of the single-contract CRX rebuild, drawn as one decision tree apiece: a cheap-first check spine, every revert leaf named with its condition and its custom error, the commit in green.The forwards solver, up close — collateral, the hedge leg, and recoveryJun 14, 2026The layer under the map. How margin actually moves between the safe and the venue, how the perp leg is laid and carried, and exactly where the build is proven, gated, or not yet load-bearing.The CRX forwards solver — how it quotes, hedges, settlesJun 13, 2026The market-maker that prices an FX forward, lays the risk on a real venue, keeps its margin trued, and closes both legs at maturity — drawn flow by flow.CRX contract map — the rebuildJun 13, 2026The single-contract CRX rebuild, drawn flow by flow: one diagram per flow, a three-bullet caption, no walls of text.CRX contract mapJun 13, 2026Function-by-function call graph of the live contracts: core, two engines, libraries, oracles — every call, every mapping.Where to custody the marginJun 13, 2026Fireblocks vs BitGo vs Copper — fee models, published rates vs quote-only, regulatory standing, and off-exchange settlement (ClearLoop). What each really costs.Where to hedge the FX bookJun 13, 2026Every on-chain perp DEX, CEX, and TradFi venue that lists FX — with per-pair spread, liquidity, funding, and US API access.Hedging the NDF curveJun 12, 2026The interest-rate curve inside every NDF, and the instruments that hedge it. Worked on USD/MXN.How market makers hedge NDFsJun 12, 2026Research report: internalization, the dealer hedge stack, venue access currency by currency.Taker persona researchJun 11, 2026Voice-of-customer research for the taker side.Maker persona researchJun 11, 2026Voice-of-the-liquidity-provider research for the maker side — the desks that warehouse and hedge the FX risk.

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Data room — CRX