Chapter 3: MSX Product Roadmap and Core Business Modules
3.1 Spot Assets: RWA and Stock Token Overview
RWA (Real World Asset) refers to digitizing traditional financial market physical assets such as stocks, bonds, and real estate through blockchain technology, mapping them to on-chain tokens, achieving asset transparency, liquidity, and globalized trading. This enhances asset accessibility and distributed trading capabilities, greatly promoting capital market innovation and openness.
Stock tokens, as an important component of RWA, are digitized securities issued based on blockchain technology for underlying stock assets. Each stock token is backed 1:1 by regulated and trusted custody institutions, ensuring that tokens have exact and real stock asset support, with holders enjoying rights consistent with traditional stockholders.
With the rapid development of global digital finance, stock tokenization not only expands investment channels but also injects digital blood into traditional markets, becoming an inevitable trend in the digital transformation of capital markets and an important entry point for traditional capital into the crypto space.
Stock Token Selection Mechanism
MSX, as a leading decentralized stock token trading platform, is committed to building a secure, efficient, and compliant RWA trading ecosystem, enabling global investors to easily participate in on-chain trading of stock assets. The stock token spot asset pool on the MSX platform adopts a multi-dimensional scientific selection and dynamic management mechanism, ensuring that each listed stock or ETF has high liquidity, real asset backing, and broad market recognition, maximizing user investment experience and asset security.
| Core Module | Implementation Content |
|---|---|
| Market Research and Data Analysis | 1. Data sources: Collect long-term market data from major global exchanges (NASDAQ, NYSE, etc.) 2. Key indicators: Stock market value, liquidity, daily trading volume, volatility, valuation range, and other basic indicators 3. Selection logic: Cover tech giants (AAPL, AMZN, MSFT, GOOGL, META, etc.), while also considering multiple industries (finance, technology, consumer, AI, semiconductors, energy), balancing defensive and growth blue chips for risk diversification |
| Compliance and Risk Screening | 1. Compliance screening: Screen out stocks and restricted list stocks/ETFs affected by restricted regions, regulatory bans, special credit events 2. Legal compliance: Comply with securities regulations in various countries, avoiding special targets with potential legal disputes 3. Dynamic risk control: Regularly assess target risks (such as major financial fraud, delisting risks, deteriorating illiquidity, etc.) |
| Dynamic Adjustment and Iterative Optimization | 1. Assessment cycle: Quarterly or based on market volatility events, assess the existing asset pool 2. Adjustment actions: Dynamically adjust target weights, remove targets with declining liquidity or deteriorating risks, introduce emerging popular stocks and high-quality ETFs 3. Information disclosure: All asset adjustment decisions are fully transparent, ensuring fairness and credibility |
3.2 Liquidity Management: PFOF Mechanism Explained
In traditional stock and blockchain digital asset markets, liquidity has always been a core element of quality trading experience and market health. The MSX platform has introduced an industry-leading liquidity solution for RWA stock tokens, namely the Payment for Order Flow (PFOF) mechanism, comprehensively improving trading depth, price discovery efficiency, and execution quality.
PFOF Mechanism Principle
The PFOF mechanism is a mainstream liquidity management model in stock markets. Its core is: the platform intelligently routes user "buy and sell orders" to quality liquidity institutions (such as market makers), and these institutions pay the platform an order flow fee to obtain priority matching rights. This not only ensures deep liquidity but also optimizes user execution prices—investors' actual trading costs do not increase; instead, they gain deeper market liquidity and better quotes.
The specific principle is as follows:
- After users initiate buy and sell orders, the platform intelligently routes orders to market makers with optimal quotes and deep liquidity based on order type and asset pool conditions
- Market makers receive orders and provide liquidity at competitive prices, with users obtaining execution prices superior to ordinary markets
- Market makers pay the platform order flow fees, and the platform uses this income to optimize system performance and user services
- Users enjoy low slippage, fast execution, transparent and open trading experience without additional costs
Through the PFOF mechanism, MSX achieves a win-win-win situation: users obtain better prices and liquidity, market makers obtain stable order flow, and the platform achieves sustainable income and ecosystem feedback.
3.3 Derivative Trading: Stock Token Perpetual Contracts
MSX provides perpetual contract products based on stock tokens, allowing investors to participate in the price fluctuations of stock assets through margin trading with leverage, without actually holding the underlying assets. Perpetual contracts have no fixed expiration date, allowing investors to hold long-term or close positions at any time, greatly improving capital utilization efficiency and strategic flexibility.
Core Mechanisms
Margin and Leverage
Users only need to deposit a certain proportion of margin to open leveraged trading, amplifying returns (while also amplifying risks). The platform supports multiple leverage levels for selection, and users can flexibly adjust according to risk preferences and market judgments. Margin is divided into initial margin and maintenance margin. Initial margin is the minimum amount required for opening positions, and maintenance margin is the minimum requirement to maintain positions without forced liquidation.
Funding Rate Mechanism
Perpetual contracts achieve dynamic pegging of contract prices to spot prices through funding rate mechanisms. Funding rates are regularly settled between longs and shorts. When contract prices are higher than spot prices, longs pay funding rates to shorts; conversely, shorts pay to longs. This mechanism ensures that perpetual contract prices fluctuate around spot prices, avoiding long-term deviation.
Order Types and Execution
MSX supports multiple order types such as market orders, limit orders, and stop-profit/stop-loss orders to meet users' flexible operational needs in different market environments. Market orders can be executed quickly, limit orders can precisely control entry prices, and stop-profit/stop-loss orders can automate risk management, reducing manual monitoring pressure.
Order Book Depth and Liquidity
MSX contract trading adopts the OrderBook model, displaying real-time buy and sell order book depth, allowing users to monitor liquidity distribution, price change trends, and market sentiment in real-time. Order book depth directly affects execution efficiency and slippage risk.
Crypto-to-Crypto Contract Products
In addition to stock token perpetual contracts, MSX also provides various mainstream cryptocurrency crypto-to-crypto contract trading, supporting users in flexible allocation and hedging among different digital assets. Crypto-to-crypto contracts support multiple order types (market orders, limit orders, stop-profit/stop-loss orders), with clear contract units. Smart contracts automatically handle profit and loss settlement, with transparent capital flows and complete, immutable on-chain records.
Risk Control and Contract Lifecycle Management
Risk Control
MSX has built a comprehensive risk control system, including real-time capital account monitoring, risk alerts, and automatic liquidation systems. By continuously tracking user margin balances and position risks, the system automatically reminds users to add margin when maintenance margin thresholds are reached. If additional margin is not provided, the system prioritizes partial liquidation of the highest-risk positions to prevent the spread of liquidation risks.
The risk control system is combined with on-chain price oracles, utilizing multi-node aggregation of multi-market data to calculate mark prices, avoiding liquidations triggered by abnormal market prices and ensuring a stable trading environment. Funding rates are automatically calculated and collected by smart contracts, with regular settlements ensuring dynamic balance of holding costs for both longs and shorts.
Contract Lifecycle Management
MSX smart contracts implement automated full-process management: including margin verification when users initiate opening requests, position accounting after successful matching, automatic profit and loss settlement and capital adjustments upon closing. Every operation is recorded on-chain, ensuring data security and transaction transparency.
When position margin is insufficient, the liquidation contract automatically initiates the forced liquidation procedure, with liquidation records synchronized and published on-chain, ensuring fair rights for all trading parties. The full-process design balances flexibility and security, meeting the advanced needs of professional investors.
3.4 Other Products and Services
Cross-Chain Asset Management and Bridging
MSX provides users with a unified multi-chain asset management experience. Users can manage assets across multiple chains including Solana, Ethereum, Tron, BNB Chain, Base, etc., through the platform without switching between multiple wallets.
The platform has independently developed cross-chain bridge technology to enable fast and free transfer of assets between different chains, including RWA tokens and mainstream digital assets.
API Interface Access
MSX provides feature-rich API interfaces for teams and developers with professional needs. APIs can be used for market data queries, trade order placement, account management, and historical record retrieval. Supports institutional users, quantitative trading teams, and third-party developers in automated trading strategy development.
API design emphasizes security, providing multi-role permission management and identity control, ensuring secure and stable trading and data interaction, facilitating ecosystem expansion and innovation.
Wallet and Asset Management
The MSX platform supports the WalletConnect protocol, compatible with MetaMask, OKX Wallet, and 90+ mainstream wallets, maximizing user wallet freedom of choice and on-chain asset storage security needs.
Wallet addresses serve as user identities, with full-chain interaction without centralized real-name verification or complex identity authentication, and transparent and open fund management. Supports multi-chain asset storage and management, combined with advanced security mechanisms such as multi-signature and hardware wallets, to build a comprehensive asset protection system for large holders, institutional users, and ordinary investors.
The platform continuously iterates wallet support range and interaction experience, facilitating multi-scenario asset operations and strategy deployment for users.
3.5 MSX Research Institute
The MSX Research Institute aims to provide authoritative, cutting-edge, and systematic digital asset market education services for global users, committed to breaking down traditional securities market cognitive barriers and narrowing the information gap between Chinese and American capital markets and the digital ecosystem.
Core Content and User Education
Research Report Release and Current Affairs Interpretation
The Research Institute regularly publishes in-depth research reports on stocks, global monetary policy, RWA dynamics, and the digital asset sector. For example, real-time interpretation of stock market crashes, technology stock volatility, and other events, combined with international current affairs and economic data, guides users in forming rational investment strategies.
When major policy changes occur, the Research Institute provides in-depth interpretation of changes in global financial regulatory environments and their impact on the digital asset ecosystem, providing compliance references and market response solutions for institutions and retail investors.
Professional Course System Construction
Organizes online and offline thematic courses such as "Stock Market Basics," "Introduction to Blockchain Investment," and "Global Macro Market Analysis," systematically cultivating user cognition and practical abilities through progressive methods, supporting multi-language and multi-level learning.
Community Interaction and Dialogue
Regularly holds online interactive activities such as "Hot Stock Topics" AMAs, "Cross-Border Investment Policy Salons," and "Quarterly Market Outlook Live Broadcasts," establishing direct communication bridges between experts and users, enhancing community engagement and learning atmosphere.
Industry Impact and Future Plans
The Research Institute forms a cross-regional knowledge and influence network by continuously outputting content and courses, linking global KOLs, mainstream financial media, and university researchers. At the same time, it actively promotes the establishment of industry standards, participates in regulatory policy interpretation and industry think tank construction, contributing to compliance and user education in the digital asset industry.
In the future, the Research Institute will continue to enrich the research report section, expand more targeted course sets and cross-border education solutions, allowing more global users to enjoy fair, professional, and trustworthy digital financial learning platform experiences.