> For the complete documentation index, see [llms.txt](https://docs.turbine.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.turbine.exchange/readme.md). # About Turbine is a private orderbook built for large and long-running orders to settle peer-to-peer. Orders and LP on Turbine [follow the market](/features/market-tracking-order.md) and settle only when the spread is low. Turbine can settle small and large trades at low, zero, and even negative spreads. {% hint style="success" icon="globe-pointer" %} Go to [app.turbine.exchange](https://app.turbine.exchange/) to trade on Turbine! {% endhint %} ### How Turbine Works Turbine: * Keeps orders [evergreen](/features/market-tracking-order.md) by making them follow the market price. * Keeps orders [private](/features/private-orderbook.md), hosted trustlessly on a TEE[^1]. * [Delays trades](/features/the-speedbump.md) to protect traders and liquidity from stale price arbitrage. * Updates [pooled liquidity](/features/market-tracking-lp.md) to follow the [market price](/features/market-price-oracle.md). * Settles in [batches](/features/batching-solver.md) with uniform clearing prices across all Turbine orders, Turbine LP, and all on-chain liquidity (including [PMM RFQ](#user-content-fn-2)[^2]). No one can see your orders before settlement, including the Turbine team. You don't have to trust us; you can verify it. For step-by-step verification (Trust Center walkthrough and manual quote verification), see [Trusted Execution Environment](/resources/security/trusted-execution-environment.md). ### Why Trade or LP on Turbine? Turbine gets you the best trade when price matters more than speed. LPs can provide market liquidity without the risk of LVR. You only answer one question: **until when** do you want to settle the trade? Pick a deadline and Turbine [handles](/trading/readme/auto-mode.md) the spread to maximize surplus. ### A Different Approach to DeFi Trading Turbine drops the focus on low latency and time-price priority, and removes reliance on professional intermediaries. The result is the lowest-cost exchange possible. Turbine maximizes peer-to-peer trades (CoWs), protects you against MEV, and relies exclusively on trustless exchange logic. Every deployment runs on an attested TEE, so you can verify exactly which code settles your trade. Turbine is built for traders who prioritize fair execution over speed. Read more about Turbine's [core concepts](/core-concepts.md). ### Core Contributors [PropellerHeads](https://www.propellerheads.xyz/), led by Markus and Alan, built solvers and found that the DeFi trade supply chain today (auctions and routers) is centralized, trusted, and not competitive on large trades. We believe in: * **Self-sovereign trading**: Markets that anyone can use without technical or other barriers, and that protect traders and LPs from adversarial fills. * **Peer markets**: Markets that operate solely through retail traders and LPs, eliminating expensive intermediaries. * **DeFi-first design**: Design for the dynamic, heterogeneous, open-access, and transparent landscape of DEX liquidity. Turbine integrates Propeller's DEX Indexer [Tycho](https://www.propellerheads.xyz/tycho), and Open Source Router [Fynd](https://docs.fynd.xyz/get-started/quickstart) to trade on DEXs. ### Audit The backend, frontend, and SDK have been audited by Trail of Bits: see their [Audit](/resources/security/readme.md). [^1]: Trusted Execution Environment [^2]: Private Market Makers Request For Quote --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.turbine.exchange/readme.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.