About
Roadmap
What has shipped, what is in progress, and where Phasis is headed.
Shipped (as of June 2026)
The core protocol is live on Sui testnet and has been validated end-to-end:
Protocol
- Registry, authority, and on-chain account model (self-custody; no custodian)
- Series listing: strike grid across BTC, ETH, and SUI underlyings
- Full trading lifecycle: place, cancel, replace, fill, position tracking
- Portfolio margin engine (N-point Black–Scholes stress grid): net-risk margin, not gross notional
- Fee accrual: maker rebates, taker fees, protocol fee
- Settlement state machine: halt, oracle read, settle, close
Keeper infrastructure
- Stress-publisher: computes and on-chain publishes margin stress snapshots
- Cranker: drives the settlement state machine
- Liquidator: event-driven, zero-RPC steady state; acts on underwater accounts
SDK
- TypeScript SDK (
@phasis-lab/sdk) with full transaction builders and readers - Published to npm; available for integration today
Frontend
- Trading terminal: orderbook, option chain, position panel, account balance
- Landing page, styleguide, wallet connection
Phase A — Q3 2026
The near-term focus is mainnet readiness:
- External security audit
- Mainnet deployment (pending audit clearance)
- Market-maker onboarding program
- Additional underlyings based on community demand
Phase B — Q4 2026
After mainnet launch, the focus shifts to depth and capital efficiency:
- Analytics: live volatility surface, Greeks heatmap, IV skew charts
- Vault integration: covered-call vaults and cash-secured-put vaults that automatically write options against deposited collateral
- Cross-asset margin scenarios: correlation-aware margin reductions for BTC-ETH hedged portfolios
- Gamma-aware margin add-ons: additional margin on short-convex positions in extreme tail scenarios
Phase C — 2027 and beyond
Longer-horizon items that depend on Phase A and B outcomes:
- Perpetual options: rolling series that never expire; pricing based on continuous vol surface
- Multi-collateral: use SUI and other whitelisted assets as margin alongside USDC
- Governance: on-chain parameter governance (fee tiers, margin multipliers, listing criteria)
The roadmap reflects current intentions and is subject to change. Mainnet deployment timing depends on audit completion.