Coming soon. Multilateral Netting is in design, not yet live. These pages describe the planned primitive so anyone settling on the network - users, market makers, and desks alike - can evaluate it early; run timing, fee schedules, and membership criteria publish at launch.
The Cost of Gross Settlement
Every trade on the network settles alone today. Each fill pays the full toll - the bridge, the rebalance, the conversion - even when an equal and opposite flow crosses the network minutes later. Opposing flows cancel on paper; in fees, they don’t. That toll is the floor under every spread you’re quoted. Multilateral Netting makes the cancellation real. Every cleared trade leaves an obligation on one shared graph - who pays whom, how much, by when. Each run, the network’s debts offset against each other: loops cancel outright, chains clear with a single unit of routed liquidity, and only each participant’s net residual moves, on rails you already use. The matched portion is extinguished by set-off, not transferred - no clearing house steps in, nothing is novated, and you keep your original counterparties throughout. Measured, not projected. Real netting systems run from about 10% of debt cleared (cancelling closed loops alone) to 96-98% (funded residuals and carried positions in dense networks - the CLS and NSCC class). We plan on 40 to 55% of gross netting out at the start, rising as the network gets denser; every figure we publish carries the basis it was measured on.Two Firm Quotes
Netting arrives in the product as a second quote. Settle instantly at today’s price - or clear at a deadline you pick, at a tighter one. Both quotes are firm; the choice is per settlement, and it is the only thing you do differently. The cleared quote is tighter because clearing is cheaper to provide: the rebalancing cost under every spread goes away, and the same obligations clear with less capital and fewer transactions. Until your deadline, your capital stays yours and keeps working - nothing locked, nothing pre-funded, your wallet untouched until the pull window opens. Need out early? A vault on the Shared Collateral Network buys your position at its published discount.What Stays Yours
Zero Locked Capital
No margin, no pre-funding. One signature records the debt and pre-approves its collection; nothing leaves your wallet until the window opens.
Your Counterparty Never Changes
Debts cancel by set-off on one shared graph. No clearing house steps in, nothing is novated, and netting never expands your counterparty perimeter.
Proven, Not Trusted
Every run ships a validity proof checked on-chain. The chain checks the proof, not the operator - a wrong answer cannot execute.
Nobody Sees Your Book
Positions are readable only inside a sealed engine that can prove which program it runs. You see your own slice; nobody sees the graph.
Every Exit Is Priced
A remainder unpaid at its deadline leaves through a priced ladder - vault, desk, auction, then settling gross as today. The worst case is what you already pay.
The Fee Follows the Saving
A small flat rate plus a share of what you saved, measured against your own instant quote. Never a toll on gross.
Key Facts
A Clearing Module For Institutions
Like everything TetraFi ships, clearing is a primitive, not a venue. There is one clearing network - the way there is one Ethereum - and you configure your participation in it: your own policy domain, with your membership rules, your run cadence, your backstop order, your asset scope, under your compliance policy, the same way every workspace owns its router. The same module bends to very different books: a payment network netting corridor flows across chains, an issuer netting mints against redemptions, an OTC circle netting bilateral T+1 obligations down to one wire a day. And it composes with the rest of the stack - RFQ firm quotes, Router execution, Shared Collateral Network liquidity - or stands alone as the cost layer under whatever you already run. It plugs in without exposing anything: positions are readable only inside a sealed engine, so your book, your counterparties, and your edge stay yours - from other members and from TetraFi alike.Go Deeper
How It Works
The clearing run step by step, the settlement choice, funding, and where the residual goes.
Where It Applies
One clearing layer, many kinds of debt: stablecoin flows, tokenized assets, payment networks, and more.
Privacy & Control
Who sees what, who you end up facing, and the lines the protocol never crosses.
Register Interest
Making markets, running a desk, or settling institutional flow? Get on the early list.