1/7 Why are we building StandX? When we started building StandX, everyone asked: "Why build a stablecoin first?" We didn't listen, because every layer we built was a stepping stone to one thing: Perps on anything, permissionlessly. Memecoin launchpads did it for ultra-early assets. Uniswap did it for spot. Derivatives, a $960 trillion market are still gatekept. So we built backward: DUSD for yield-bearing margin, Perps where every position earns yield, MM Uptime for tick-level community market making. Today we ship the layer that connects them all - SIP-5: Universal Markets Listing.

6/7 The full stake injected by the Sponsor flows into that Market's dedicated MM Uptime Pool, distributed to real community market-makers based on quantifiable metrics, two-sided quotes, uptime, depth at the top of book, proximity to mid. In return, the Sponsor receives up to 70% of qualifying fees over the long term, and can enable Stand Mode to continuously recycle that fee share back into the market making budget, placing the Market into a self-reinforcing flywheel. Once a Market gets going, it becomes deeper, livelier, and more resilient on its own, the protocol does not need to subsidize; the market feeds itself. Every Universal Market fully inherits the core risk-control framework of StandX Perps, margin, liquidation, position limits, oracle monitoring, insurance fund, and ADL all carry over. Sponsors may additionally configure a dedicated Market Shield as a first loss buffer at the market layer.