Autonom Pools (RWA & Synthetic Assets)

Overview

Autonom Pools are a new pool type in Adrena that enables trading on real-world assets (RWA) and synthetic instruments - such as equities, commodities, and indices - directly on Solana. Unlike standard GMX-style pools, Autonom pools hold no on-chain token reserves for the traded assets. Instead, positions are entirely USD-denominated and settled against stable collateral.

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Differences from Standard (GMX) Pools

Feature	GMX Pool	Autonom Pool
Assets	Native crypto tokens (SOL, BTC, ETH…)	Synthetic: equities, commodities, RWA
Custody	Holds actual tokens	No token custody - synthetic PDA only
Collateral	Token or stablecoin	Stablecoin only
Oracle providers (default)	Autonom → Switchboard → ChaosLabs	Autonom → Switchboard → ChaosLabs
Multi-oracle min_agree (default)	1	1
Market hours	24/7	Subject to underlying market trading hours
Position settlement	In underlying token	USD-denominated

Both pool types ship with identical default MultiOracleConfig (Autonom primary, min_agree=1, staleness_seconds=7). Governance can tune each pool's provider order, min_agree, and liquidation defenses independently via set_pool_oracle_config.

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Synthetic Custodies

Each tradable asset in an Autonom Pool is represented by a synthetic custody - an on-chain account that records the aggregate open interest and fee state for that asset, but holds no tokens. Key properties:

• Identified by a unique seed (not a token mint), allowing multiple synthetic assets per pool (up to 32)

• Tracks cumulative_funding_paid_usd and cumulative_funding_received_usd for Virtual Funding Rate accounting

• Uses a dedicated oracle_feed_id and trade_oracle_feed_id for price lookups

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Market Hours

Autonom Pool assets correspond to real-world instruments that only trade during certain hours (e.g., US equity market hours, 9:30 AM-4:00 PM ET on weekdays). The protocol enforces this:

• market_open_timestamp / market_close_timestamp: Define the active trading window for the pool

• Opening a position outside market hours returns a MarketIsClosed error

• Existing positions remain open through market close - they settle at next open or at the holder's discretion

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Market Special Events

Corporate actions such as stock splits and dividends can affect the fair value of a synthetic position. When such an event is scheduled:

• Affected feed IDs are recorded in market_close_affected_feeds

• The event timestamp is stored in market_close_event_timestamp

• Attempts to open new positions in affected assets will return a MarketStockSpecialEvent error until the event is processed

• Existing positions in affected assets are handled according to the protocol's event resolution procedure

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Oracle Configuration

Autonom Pools use the Autonom oracle as the primary price provider. This is an off-chain price feed that delivers signed batch prices (including market session data) on-chain.

Default multi-oracle config for Autonom Pools:

Parameter	Value
Primary provider	Autonom
Backup providers	Switchboard, ChaosLabs
min_agree	1 (single provider sufficient)
price_diff_threshold_bps	100 (1% tolerance)
staleness_seconds	7
Asymmetric liquidation	Disabled
Circuit breaker	Disabled

Because Autonom assets may not have broad multi-oracle coverage, a single-oracle consensus threshold is appropriate. The asymmetric liquidation and circuit breaker defenses used in GMX pools are therefore not enabled for Autonom Pools.

See Oracles and Price Feeds for the full oracle architecture.

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Liquidations

Liquidation mechanics for Autonom Pool positions follow the same margin rules as standard positions, with one addition: positions cannot be liquidated outside of market hours (since no reliable price is available). Liquidation resumes at market open.

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Collateral

All Autonom Pool positions use stablecoin collateral (USDC or equivalent). There is no token exposure on the collateral side - your profit/loss and collateral are both denominated in USD.