Deterministic Clearing Logic

Every margin requirement, risk calculation, and settlement process is governed by smart contracts. No human discretion. No black boxes. Just transparent, verifiable clearing.

Fully on-chain enforcement
Predictable outcomes under stress
Auto-liquidation via bots and auctions

Portfolio-Based Margining

Pascal uses advanced value-at-risk (VaR) models to calculate margin at the portfolio level. This allows significant capital efficiency:

Correlation-aware netting
Cross-product offsets (futures, options, etc.)
Up to 90% reduction in required collateral for well-structured portfolios

Composable by Design

Pascal is built as an open protocol. Any platform — whether a DEX, DAO, broker, or RWA exchange — can integrate it as their clearing backend.

API + SDK access
Frontend-agnostic
Designed for interoperability across L2s

High-Performance Execution Environment

Pascal runs in a dedicated Arbitrum Orbit environment optimized for speed and throughput.

Correlation-aware netting
Predictable gas costs
Supports high-frequency strategies

Real-Time Risk Updates

Market data is streamed into Pascal via decentralized oracles. The protocol recalculates risk dynamically to ensure portfolios remain within bounds.

Secure oracle integration
Custom data sources per platform
Fully dynamic margining

Modular Collateral Pools

Each integrated platform can define its own eligible collateral types, margin haircut logic, and settlement tokens.

Segregated risk
Platform-specific configuration
Multi-asset collateral (e.g., USDC, ETH, stables)

Multi-Product Support

Pascal isn’t limited to one asset class or instrument. It supports clearing for:

Futures
Options (including OTC)
Calendar spreads
Structured products
Real-world assets (RWA) derivatives

Transparent, Auditable Infrastructure

Pascal’s smart contracts are open source. All margin logic, collateral flows, and liquidation actions are publicly traceable.

Open codebase
On-chain audit trail
Zero opaqueness by design

Safety by Architecture

Pascal’s smart contracts are open source. All margin logic, collateral flows, and liquidation actions are publicly traceable.

Circuit breakers for volatility shocks
Default waterfall protection
Oracle decoupling from manipulation-prone orderbooks