# N1

> N1 is a Layer 1 blockchain built for trading. N1 Exchange is an onchain perpetual futures exchange for the majors and for markets you can't trade anywhere else, starting with TCGX, the first trading-card index market.

All assets. All markets. One chain. Traders use N1 Exchange at app.n1.xyz to trade perpetual futures (perps) on a native central limit order book or through request for quote (RFQ). Each trading account is a cross-margin portfolio. Full product and API documentation lives at docs.n1.xyz, which publishes its own llms.txt.

## Site

- [Markets](https://www.n1.xyz/perps): Every live perpetual market with mark price and funding; CLOB market pages with enough order-book depth show the cost to trade $10k and $100k against mid.
- [TCGX](https://www.n1.xyz/tcgx): A trading-card index perpetual: live index, basket, how to go long, short or hedge a card collection, and risks.
- [N1 Prime](https://www.n1.xyz/prime): A proposal to count a market maker's collateral and hedges on connected exchanges when setting its limits on N1. Not live yet.
- [About N1](https://www.n1.xyz/about): From Layer N to N1 and N1 Exchange, with seed backers; one-paragraph descriptions of N1 and TCGX, logo downloads and a press contact.
- [Security and trust](https://www.n1.xyz/security): How funds are held and moved, how trades settle and how risk is managed, from the N1 docs; who is behind N1; look-alike sites N1 is not affiliated with.

## Learn

- [Learn](https://www.n1.xyz/learn): Plain guides to perpetual futures with worked examples, each sourced from the N1 docs.
- [What is a perp DEX?](https://www.n1.xyz/learn/what-is-a-perp-dex): What a perpetual future is, what makes an exchange a DEX, and who takes the other side of a trade.
- [Funding rates explained](https://www.n1.xyz/learn/funding-rates-explained): How N1's hourly funding rate comes from the mark and index prices, and who pays whom.
- [Cross margin vs isolated margin](https://www.n1.xyz/learn/cross-vs-isolated-margin): Shared collateral against collateral per position, and separating risk with subaccounts.
- [The all-in cost of a trade](https://www.n1.xyz/learn/all-in-cost-of-a-trade): Fill price, fee, funding and the cost of closing, and how to compare the same order at the same time.

## Trade

- [N1 Exchange](https://app.n1.xyz): Trade perpetual futures on N1.

## Docs

- [N1 Documentation](https://docs.n1.xyz): Learn, Trading, Developers and Agents documentation.
- [Docs llms.txt](https://docs.n1.xyz/llms.txt): Machine-readable index of every docs page.
- [Introduction to N1](https://docs.n1.xyz/learn/introduction-to-n1.md): Low-latency execution, zero-congestion architecture and advanced margining.
- [REST API](https://docs.n1.xyz/developers/api/rest.md): Read exchange, market and account state over HTTP.
- [Nord Agent Kit](https://docs.n1.xyz/agents.md): Connect AI agents to Nord market data, accounts and trading tools.

## Blog

- [N1 Blog](https://www.n1.xyz/blog): Research, product updates and essays from N1.
- [RSS feed](https://www.n1.xyz/feed.xml): Every published post.

## Optional

- [X](https://x.com/N1Chain)
- [Discord](https://discord.gg/N1Chain)