> ## Documentation Index
> Fetch the complete documentation index at: https://docs.bm.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# BM.XYZ: Onchain Order Book Exchange Built on BM Chain

> BM.XYZ is a non-custodial onchain exchange combining CEX-grade order book trading with fully verifiable onchain settlement on BM Chain.

BM.XYZ is an onchain order book exchange built on **BM Chain** — a purpose-built Layer 1 blockchain optimized for financial applications from first principles. Unlike hybrid platforms that bolt on onchain settlement as an afterthought, BM.XYZ is designed end-to-end so that every order match, every fill, and every position update is recorded on-chain and independently verifiable. You get the responsive, familiar feel of a centralized exchange — real-time order books, sub-second execution, TradingView charts — without sacrificing the transparency and self-custody that onchain infrastructure provides.

## The BM Ecosystem

BM is an open onchain financial network made up of several interconnected components. Understanding how they fit together will help you navigate both the trading app and its supporting infrastructure.

| Component          | Name     | Role                                                                          |
| ------------------ | -------- | ----------------------------------------------------------------------------- |
| **Ecosystem**      | BM       | Open onchain financial network                                                |
| **L1 Blockchain**  | BM Chain | High-performance trading infrastructure ([bmchain.org](https://bmchain.org/)) |
| **Native Token**   | BMX      | Gas, staking, and ecosystem value                                             |
| **Trading App**    | BM.XYZ   | Unified spot and perpetuals trading experience ([bm.xyz](https://bm.xyz/))    |
| **Block Explorer** | BM Scan  | Full L1 onchain data verification ([bmscan.io](https://bmscan.io/))           |

## Technical Overview

BM.XYZ runs on **HyperCore-style clearing**: a central limit order book (CLOB) architecture where order matching happens at the protocol layer, not inside an off-chain engine. This means:

* **Transparent fills** — every matched order is a verifiable transaction on BM Chain. You can look up any trade by its transaction hash in Clob Scan or BM Scan.
* **Sub-second finality** — BM Chain's consensus delivers block times fast enough that the onchain settlement latency is imperceptible during normal trading.
* **Spot and perpetuals** — both market types share the same CLOB infrastructure. Perpetual positions are margined in USDC; funding payments continuously balance long/short open interest.
* **Non-custodial** — you control your keys throughout. Trading keys are session-scoped, signed locally, and gas-free, so you never hand custody to the platform.

## Explorers: Verifying Every Fill

BM.XYZ ships with two complementary explorers:

* **Clob Scan** — the in-app explorer optimized for trading events. Use it to look up fills, order updates, and clearing actions without leaving the platform.
* **BM Scan** — the public full-chain explorer at [bmscan.io](https://bmscan.io/). Use it for general L1 exploration: blocks, wallet balances, contract interactions, and internal transfers.

Any fill you see in the app can be traced to an onchain record in one or both explorers — this is BM.XYZ's commitment to **verifiable fairness**.

## Current Scope

<Note>
  The current public documentation covers **Testnet V1 + V2** — an internally validated environment that exercises wallet onboarding, faucet funding, spot and perpetuals trading, portfolio management, and explorer verification. Features including mainnet deposit/withdraw, vaults, staking, referrals, and the public SDK/API are planned for later releases and are **not available on testnet**.
</Note>

The Testnet V1 + V2 scope includes:

* Wallet connection (MetaMask, WalletConnect, OKX Wallet, Coinbase Wallet) and email login via Privy
* Testnet faucet for test USDC and BMX
* Spot and perpetuals trading with market and limit orders
* Advanced order types: Take Profit / Stop Loss (V2)
* Portfolio view: balances, open positions, order history
* Clob Scan and BM Scan explorer access

## Where to Go Next

<CardGroup cols={2}>
  <Card title="Getting Started" icon="rocket" href="/onboarding/getting-started">
    Connect your wallet or sign in with email, claim testnet tokens, and place your first trade.
  </Card>

  <Card title="Trading" icon="chart-line" href="/trading/overview">
    Learn how spot and perpetuals markets work on the BM.XYZ CLOB, including order types and margin modes.
  </Card>

  <Card title="Clob Scan" icon="magnifying-glass" href="/explorers/clob-scan">
    Verify fills and order book events in BM.XYZ's in-app CLOB explorer.
  </Card>

  <Card title="BM Scan" icon="cube" href="/explorers/bm-scan">
    Explore full L1 chain data — blocks, transactions, wallet balances — at bmscan.io.
  </Card>
</CardGroup>