Shadowpool separates what a market must know from what a trader must reveal. The matching engine, risk engine and liquidation keeper operate on commitments and proofs — never on plaintext positions.
Every state transition — open, modify, close, liquidate — follows the same four steps. Median end-to-end latency is 240ms.
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Margin is enforced on committed collateral. A position that fails its risk bound becomes liquidatable and the keeper receives a proof of eligibility — not the position itself.
Disclosure is a setting, not a default. A trader or vault manager elects what becomes public and when — on close, on a schedule, or never.