Start here
Explore Edel Stocks, Edel Markets and the infrastructure that connects them.
What Edel is building
The Edel ecosystem
- Step
- On Canton
7 parts and 6 connections.
Read as text
- Edel ecosystem → Edel Stocks
- Edel Stocks → Native Canton instruments
- Edel ecosystem → Edel Markets
- Edel Markets → Off-chain execution
- Off-chain execution → Later Canton settlement
- Edel ecosystem → EDEL and EDELx (distinct ecosystem tokens)
We connect asset issuance and trading on the Canton Network. Edel Stocks provides economic exposure to reference assets through native Canton instruments. Edel Markets is our perpetual futures trading platform, combining off-chain execution with asynchronous Canton settlement. Markets is open on TestNet with test money; MainNet is not open for trading yet.
The planned On-Chain Margin Layer would allow eligible stock holdings to support trading positions. It would connect our asset and trading products through a separate set of collateral eligibility, valuation and risk rules.
Explore the ecosystem
Begin with the product overview, then explore instrument terms, trading mechanics, architecture and APIs at your own pace.
| If you want to... | Start here |
|---|---|
| Place a perpetual trade in the terminal | Your first trade and Edel Markets overview |
| Understand tokenised stock exposure and secondary trading on Cantex Exchange | Edel Stocks and Access and eligibility |
| Run an in-app trading agent or connect an AI assistant | Agents and AI and Connect an AI client |
| Integrate with the REST API, WebSockets or market-making interface | Build with Edel Markets and Market-maker integration |
| Check network addresses, live status or token contracts | Networks, Product status and EDEL and EDELx |
Understand what you hold and trade
Edel Stocks provide contractual economic exposure. They are debt instruments tied to reference assets and do not confer direct ownership of the referenced shares.
Markets separates execution from settlement. Orders are processed off-chain, with settlement on Canton afterward. An order acknowledgement, a confirmed fill and completed settlement are distinct events.
EDEL and EDELx are ecosystem tokens. They have separate roles and are distinct from each other and from SPYe, QQQe and the other stock instruments.
Compare the products
Three roles in the ecosystem
- Step
7 parts and 6 connections.
Read as text
- Edel ecosystem → Edel Stocks
- Edel ecosystem → Edel Markets
- Edel ecosystem → EDEL and EDELx
- Edel Stocks → Stock and ETF economic exposure
- Edel Markets → Perpetual futures
- EDEL and EDELx → Ecosystem participation
Each product and token in the Edel ecosystem has a distinct purpose. Primary issuance and redemption of Edel Stocks are restricted to approved participants, while eligible secondary buyers can trade issued stock tokens such as SPYe and QQQe on Cantex Exchange without primary onboarding.
Edel Markets provides leveraged long and short perpetual futures settled on Canton. Review the table below to compare what each product or token represents and where it is available.
| Product or token | Purpose | What it is not |
|---|---|---|
| Edel Stocks | Contractual economic exposure to a reference asset, issued natively on Canton. | Direct ownership of the underlying shares. |
| Edel Markets | Perpetual futures trading with off-chain execution and asynchronous settlement. | A purchase or delivery of the referenced stock. |
| On-Chain Margin Layer | Planned use of eligible stock tokens as margin for perps. | A live collateral facility implied by token ownership. |
| EDEL | Public ecosystem token across supported public networks. | An Edel Stock, stablecoin or equity in Edel. |
| EDELx | Separate token for Canton-native products. | Automatically interchangeable with EDEL or Canton Coin. |
Stock exposure and perpetual exposure
An Edel Stock provides economic exposure through the issuer’s contractual debt instrument. A perpetual futures position provides trading exposure supported by margin and governed by the venue’s risk rules.
Even when they reference the same market, they remain different instruments with different rights and risks. A stock token can be held without opening a perp; a perp position does not deliver the referenced stock.
How product activity connects to EDEL
Our planned economic model brings together fees from Stocks primary minting and redemption and fees from Markets trading. These are separate activities: trading an existing stock token on a secondary venue does not create a new primary issuance.
Product fees are intended to support EDEL buyback capacity. The allocation, purchase schedule and treatment of repurchased tokens will be defined separately. Read token economics.