> For the complete documentation index, see [llms.txt](https://docs.etherealtest.net/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.etherealtest.net/introduction/what-is-ethereal.md).

# What is Ethereal?

Ethereal is the only perps DEX building a complete all-in-one DeFi money app around USDe

### Product Overview

* [**Perpetual futures**](/trading/perpetual-futures.md) – the beta release of Ethereal offers perpetuals trading with institutional grade performance, deep liquidity, and [reward-bearing margin powered by USDe](/trading/usde-balance-rewards.md)
* **High-throughput, low latency** – order matching is handled inside Ethereal's application-specific sequencer for CEX-like speed with onchain security guarantees
* **DeFi everything app -** spot, money markets, RWA, and additional products roll out in subsequent product releases, with settlement in USDe

### Ethereal Chain

Ethereal is deployed as an EVM appchain with the following configuration:

* Settlement via Arbitrum One
* Arbitrum execution environment 
* Celestia data availability 

These components of the Ethereal tech stack enable the configurability and customizability necessary for Ethereal's full product vision while ensuring scalable, high-performance trading with security inherited from Ethereum.