On most exchanges, your position is only a row in the exchange’s database. BlitzPerp keeps it on Bitcoin. Each side of a position locks its margin in a statecoin, a Bitcoin output whose ownership moves off-chain. A BLISK spending policy lets each coin move only with the vault and one of the two traders. The venue that matches orders holds no key. Orders clear in sealed 3-second batch auctions that anyone can verify, and each trader holds a signed transaction to exit on Bitcoin.

BlitzPerp is not trustless, and we say so. Our litepaper names the trusted elements, shows what each one can do wrong, and explains the trade-offs.

Read the litepaper here https://blitzperp.com/docs/litepaper

We welcome review and criticism.