The Exchange Testnet is coming online, and with it comes the Exchange Upgrade.
The Exchange becomes the source of truth for canonical state at Nexus, and the Nexus Network is superseded by it. The Exchange is Nexus' upcoming trading venue designed for high-frequency perpetuals trading across equities, FX, commodities and other RWAs.
The bridge between Ethereum and Nexus, which was planned for release, is superseded as well. Deposits and withdrawals will use the Exchange's upcoming canonical bridge to Ethereum.
Why the Exchange can take over
The Network held the canonical record of balances and state. The Exchange now holds that record directly. Its matching, risk, oracle, and liquidation modules are state machines that process events in a defined order and produce deterministic results, which is the consistency and integrity a canonical record requires.
The Exchange does not carry over general-purpose programmability. New financial functionality is added as purpose-built modules reached through the Exchange's native API. This trades general-purpose programmability for bespoke financial APIs. You can start exploring the API today in the Exchange API docs, and we'll expand it as the Exchange grows.
What this means for users
The Exchange Upgrade does not affect NEX holders, and no action is required. NEX remains tradeable on Ethereum.
Incentive programs for Network users will be ported to the Exchange over time and will come online there. More updates will be shared through official channels.
To keep updated on product developments, you can see check our releases online and please follow us on X at @NexusLabs.
Legal disclaimer The information in this post is for informational purposes only and does not constitute legal, financial, or investment advice. The content is subject to change without notice.No offer or solicitation. This post does not constitute an offer to sell or a solicitation of an offer to buy any securities, tokens, products, or services in any jurisdiction where such an offer or solicitation would be unlawful. Nothing in this post is a recommendation to buy, sell, or hold NEX or any other asset. Forward-looking statements. This post contains forward-looking statements about the Exchange, its Testnet, its canonical bridge, and incentive programs. Actual results may differ materially from those expressed or implied due to factors including regulatory changes, market conditions, and business developments. Timing, scope, and availability of any product, bridge, or program are not guaranteed. Regulatory compliance and jurisdictional restrictions. Nexus is committed to complying with the laws and regulations applicable in each jurisdiction where its products and services are offered. Access to and use of Nexus products and services may be restricted or prohibited in certain jurisdictions, and Nexus reserves the right to block access where offering them would violate applicable law. Users are responsible for ensuring that their use complies with the laws that apply to them. Testnet. The Exchange Testnet is a development preview. It is not a regulated venue, and balances and prices on it have no real-world value.
