Your DEX Isn’t a Venue — It’s a Counterparty

When you trade on most DEXs, you’re not clearing risk. You’re taking it.

The pitch is always the same:

“Trade peer-to-peer. No middlemen. On-chain freedom.”

But in reality?

Most DEXs aren’t clearing venues. They’re just counterparties with slick UI.

The venue takes the other side.

It rebalances risk to LPs.

It soaks up volatility — and sometimes spits it back out at you.

You’re not matched with the market.

You’re matched with the house.

And in DeFi, the house isn’t neutral.

Why This Model Breaks at Size

When you size up, weird things happen:

• Slippage spikes
• Oracle lag kicks in
• Quotes vanish
• “Final” pricing feels like a backroom deal

Why? Because the protocol isn’t matching flow — it’s absorbing it.

Most perp DEXs route your trade into a risk bucket — not to another trader.

They clear you against their own exposure.

And if your trade hurts the bucket?

You get executed last.

It’s Not a Venue. It’s a Vault

A real venue:

• Matches buyers with sellers
• Clears risk neutrally
• Doesn’t care who wins

A DEX-as-counterparty:

• Routes to LPs
• Holds risk
• Protects itself first

One builds flow.

The other extracts it.

Jetstream Clears, It Doesn’t Gamble

Jetstream never takes the other side.

We don’t route into vaults.

We don’t mask flow behind “aggregators.”

We clear trades like a real market should:

• ✅ Buyer meets seller
• ✅ Margin logic is on-chain
• ✅ Risk offsets happen in real-time
• ✅ Venue stays neutral — always

Why This Matters

You shouldn’t need a forensic team to figure out how your DEX priced you.

In traditional markets, the venue is just the pipe.

Jetstream brings that to DeFi:

• Transparent books
• Real clearing
• Smart margin
• No hidden counterparties

When you clear through Jetstream, you don’t guess.

You trade.

Want to trade with a venue — not a vault?

→ jetstream.trade

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