> For the complete documentation index, see [llms.txt](https://docs.ethereal.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ethereal.trade/introduction/what-is-ethereal.md). # What is Ethereal? Ethereal is the only perps DEX building a complete all-in-one DeFi money app around USDe ### Product Overview * [**Perpetual futures**](/trading/perpetual-futures.md) – the beta release of Ethereal offers perpetuals trading with institutional grade performance, deep liquidity, and [reward-bearing margin powered by USDe](/trading/usde-balance-rewards.md) * **High-throughput, low latency** – order matching is handled inside Ethereal's application-specific sequencer for CEX-like speed with onchain security guarantees * **DeFi everything app -** spot, money markets, RWA, and additional products roll out in subsequent product releases, with settlement in USDe ### Ethereal Chain Ethereal is deployed as an EVM appchain with the following configuration: * Settlement via Arbitrum One * Arbitrum execution environment * Celestia data availability These components of the Ethereal tech stack enable the configurability and customizability necessary for Ethereal's full product vision while ensuring scalable, high-performance trading with security inherited from Ethereum. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.ethereal.trade/introduction/what-is-ethereal.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `build a script that syncs our docs to a CMS` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.