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The market
that never closes.

Tokenized stocks on Monad, traded day and night. Every order in a batch clears at one price. No one in your batch gets a better price than you.

Open every night and every weekend.

Start tradingSee a batch clear

Live on Monad mainnet as a beta, with real assets, small vaults and daily caps, and on the testnet for practice. Not yet externally audited. Not available to US persons.

One price for everyone.

Orders that arrive in the same batch are filled together (a batch every 300 ms in market hours, every 3 seconds overnight). Buyers and sellers line up by price, and the batch clears where they meet. Arriving first buys no better price.

Add your order to the next batch

$180.10

Try a buy above the reference or a sell below it, and watch the cross move.

$179.70$179.80$179.90$180.00$180.10$180.20$180.30REFERENCE
Buyers, by limit Sellers, by limitCleared · 6 buyers, 6 sellers, one priceIllustration: one batch in market hours, on the real clearing engine.

Speed buys no better price.

On most venues, whoever sees the price move first trades against everyone else's stale quotes. Inside a Unison batch, every order gets one price, so arriving first buys no better one. In session, that price is checked against a reference published after the batch closes, so there is nothing left to race for.

Snipers take from whoever quotes. Under each venue: what its liquidity keeps, and what a taker pays for it.

What the benchmark covers

Market hours only. At night there is no later reference: the auction forming is public, as in an exchange's opening cross, and the vault quotes wider and caps what it trades in each auction.

Unison's column is the vault as shipped. Quoting as tight as the book (±2 bp, a setting no live vault runs yet), it would keep 7.7 times what the book's makers keep, and takers would pay 3.3 bp.

Taken by snipers, per day (simulation)

$0

Constant-product AMM

fee 30 bp

Liquidity keeps
$13,459 a day
A taker pays
69.1 bp
$0

Order book

makers ±2 bp

Liquidity keeps
$84 a day
A taker pays
2.0 bp
$0

Oracle AMM

push oracle

Liquidity keeps
$2,175 a day
A taker pays
9.3 bp
$0
Unison

Unison

in session, vault ±10 bp

Liquidity keeps
$2,858 a day
A taker pays
13.0 bp
Sniper profit per day on one simulated path: 1,000,000 Monad blocks (83 h), 45% volatility with news jumps. Unison runs the real clearing engine. Method and assumptions
MONTUEWEDTHUFRISATSUN168HOURS A WEEK
Wall Street, 32.5 h Extended hours Unison, all 168 Now

Open every night
and every weekend.

Wall Street trades 32.5 of the week's 168 hours. When it closes, Unison keeps pricing in a call auction every 10 blocks (about 3 seconds), inside a band that opens the longer the market has been shut.

±1.0%±3.6%±7.3%CloseSat noonSun noonMon 4 a.m.
NVDA's discovery band, from its live parameters. Over five years NVDA opened more than 2% away from Friday's close on 24% of weekends, and MSTR on 53%. The study

A second opinion, every 30 seconds.

Today one signer publishes the reference Unison clears against. A Chainlink workflow checks that signer from outside. Every 30 seconds it prices each stock from separate market-data sources and compares. More than 0.75% apart, trading halts and the signer's bond is slashed.

The workflow runs in Chainlink's CRE simulator today and moves to the live network once access is granted. Halts on the primary market are mirrored within a minute. The workflows

CONSENSUS$180.02Reference $180.00 · 0.01% apart
Within 0.75%Past 0.75%, the market halts and the signer's bond is slashed.CRE simulator

The movement.

Six layers, each with one job, open source and checked against each other on every batch.

  1. Gateway

    Orders signed with a passkey, a wallet, or an agent key with limits. Relayed without gas.

  2. Book

    Every price level of a batch, aggregated in page-aligned storage, so an order costs about $0.0005.

  3. Clearing

    One uniform price: the most volume, then the least imbalance, then the closest to the reference.

  4. References

    Signed after the batch closes, bound to it, and checked by Chainlink every 30 seconds (in simulation today).

  5. Vault

    Liquidity that quotes around the reference and has nothing to lose to snipers.

  6. Compliance

    Volume caps, eligibility and halts from the SEC's tokenized-venue rules, written as code.

Calibre U-300

the ball: the one pricethe tines: buyers and sellers, joined
Frequency
12,000 A/h · 3.33 auctions a secondA/h, alternations an hour, is how a watchmaker counts beats; here each one is an auction. A batch every Monad block while Wall Street trades; a call auction every 10 blocks (1,200 A/h) while it is closed
Power reserve
168 h a weekEvery night and every weekend; a market stops only when its rules halt it
Escapement
Frequent batch auctionMost volume, then least imbalance, then closest to the reference. Orders at that price share it pro rata
Complications
Discovery Reopening cross Halts AuditEach with its own price band
Fairness
One price per batchIn session, against a reference published after the batch closes; while closed, around the last close
Gas per clear
1.77M41% less than under Ethereum's rules
Cost
≈ $0.02 per batch200 orders; about $0.0005 per order
Case
MonadMainnet beta: real assets, small vaults, daily caps. An external audit comes before it grows. Open source, MIT

Built for agents.
Bounded by people.

Inside a batch speed buys no better price, so software competes on judgement instead of latency. Give an agent a session key with the limits you choose: markets, size, notional and expiry. It can trade inside them. It can never withdraw.

Works with any MCP client, the TypeScript SDK, or plain signed messages.

Connect an agent
agent · unison mcpIllustration
Session keyExample

0x8c3e…41d2

Markets
aNVDA, aSPY
Expires
in 24 h
Units per order
up to 10
Notional per order
up to $5,000
In total
Not capped: any number of orders, as far as your free balance goes, until it expires.

Places and cancels. Can never withdraw.

Made for Monad.

A batch every 300 milliseconds needs a chain that keeps that beat, and storage priced by the page. Unison lays out its book page by page, so clearing costs 41% less gas under Monad's rules than the same code under Ethereum's.

One block, one batch, every 300 ms
Clear on Monad1,766,599 gas
Same clear, Ethereum's rules3,014,026 gas
Measured with the same contracts on both EVMs.

$0.02

to clear a 200-order batch

$0.0005

to place an order

At Monad's 100 gwei minimum base fee and MON at $0.034. Blocks measured at 293–304 ms in October 2026; every 300 ms figure on this site rests on that.

Ten markets.
One rulebook.

US stocks and funds tokenized by Anchored, gold, the pound and Monad itself, all quoted in AUSD. Each dial shows the band its next auction would use right now.

aNVDANVIDIA

 

aSPYS&P 500 ETF

 

aQQQNasdaq-100 ETF

 

aAAPLApple

 

aTSLATesla

 

aCOINCoinbase

 

aMSTRStrategy

 

aGLDGold (SPDR)

 

WMONMonad

 

GBPmBritish pound

 

Stocks, funds and gold clear against a reference the venue signs after each batch, checked against Chainlink (in simulation today); the pound and MON clear against Chainlink price feeds.

Start trading.

Sign in with Face ID, Touch ID or Windows Hello. No seed phrase, no gas, and the same price as everyone in your batch.

Continue with a passkeyTrade on paper

Live on Monad mainnet as a beta, with real assets, small vaults and daily caps, and on the testnet for practice. Not yet externally audited. Not available to US persons.