# UPDOWN

UPDOWN is a decentralized spot and perpetual exchange that supports low price impact perpetual trades with up to 100x leverage as well as low swap fees.

Trading is supported by unique asset pools, PX Pools, that earn liquidity providers fees from perpetual trades, liquidations, and swaps.

UPDOWN routes every order against PX Pools and quotes the oracle index price rather than relying on an order book or external market makers. To ensure accurate pricing without wicks, UPDOWN uses Chainlink Data Stream oracles, so liquidations occur only at fair market prices.

For liquidity providers: [PX](/providing-liquidity.md#token-pricing)

For traders: [Trading on UPDOWN](/trading.md)


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# Agent Instructions: 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:

```
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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.