> For the complete documentation index, see [llms.txt](https://exliquid.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://exliquid.gitbook.io/docs/architecture/why-native-trading-appchain.md).

# Why native trading?

Exliquid treats order-book trading as a first-class network capability rather than as a private matching service that settles somewhere else later.

The reason is product consistency: an order-book exchange must keep **ordering, matching, balances, positions, prices, margin and liquidation** aligned around the same trading result.

## One trading state

For a user or integration, the useful outcome is simple:

```
signed trading action
      ↓
network ordering and finality
      ↓
native trading execution
      ↓
shared market and account state
      ↓
REST / WebSocket / User App
```

An order fill is therefore not an isolated matching event. It is connected to the corresponding balance, position, fee and risk changes.

## Why this matters for order-book markets

Native execution gives the product explicit rules for:

* price-time priority;
* fixed numeric precision and rounding;
* order and cancellation semantics;
* position and PnL accounting;
* funding and margin checks;
* mark-price based risk evaluation;
* liquidation ordering and loss handling.

These are visible product behaviors, not optional reconciliation steps.

## What developers need to know

Integration developers do not need to reproduce the network's internal execution software.

They need stable external contracts for:

* constructing and signing actions;
* submitting transactions;
* confirming final results;
* querying markets and accounts;
* consuming ordered WebSocket updates;
* handling version changes and errors.

See [Developer overview](/docs/developers/overview.md).

## Current boundary

The current network line uses simulated assets and permissioned validators. Native execution describes the trading model; it is not a claim that the network is already a production mainnet or a real-asset exchange.


---

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