> For the complete documentation index, see [llms.txt](https://flipper-3.gitbook.io/flipper-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://flipper-3.gitbook.io/flipper-docs/protocol-overview/supported-execution-venues.md).

# Supported Execution Venues

Flipper connects to multiple perpetual futures venues on Solana through a unified execution layer.

The current version of Flipper is available on Solana. Support for EVM-compatible networks is planned for future releases.

Each supported venue uses its own execution model, liquidity architecture, and position management system. Flipper abstracts these differences and provides a consistent trading experience through a single interface.

## <mark style="color:$primary;">Currently Supported Venues</mark>

| <mark style="color:$primary;">**Venue**</mark> | <mark style="color:$primary;">**Liquidity Model**</mark> | <mark style="color:$primary;">**Execution Model**</mark> |
| ---------------------------------------------- | -------------------------------------------------------- | -------------------------------------------------------- |
| **Adrena**                                     | Liquidity pool                                           | Executed within the same transaction                     |
| **GMTrade (gmsol v2)**                         | Liquidity pool                                           | Order submitted and confirmed shortly after              |
| **Phoenix**                                    | Central limit order book (CLOB)                          | Order book matching                                      |

Support for additional execution venues may be introduced in future releases.

Before routing an order, Flipper checks whether each venue supports the selected market, collateral type, and leverage level. Ineligible venues are automatically excluded from the route.

## <mark style="color:$primary;">Venue Selection</mark>

Before an order is routed, Flipper evaluates each supported venue to determine whether it is eligible to execute the requested trade.

The routing engine checks factors such as:

* Supported market
* Collateral asset
* Leverage limits
* Available liquidity
* Venue availability

Venues that do not satisfy the order requirements are automatically excluded from the routing process.

## <mark style="color:$primary;">Execution Models</mark>

Supported venues use different execution mechanisms.

Some venues execute trades immediately within the same blockchain transaction, while others use an asynchronous workflow where the order is submitted first and confirmed shortly afterward.

Regardless of the underlying execution model, Flipper continuously tracks execution status and presents a unified position and portfolio throughout the trading process.

## <mark style="color:$primary;">Unified Trading Experience</mark>

Although execution occurs through different underlying protocols, users interact with a single trading interface.

Flipper provides:

* Unified order submission
* Aggregated position management
* Consolidated portfolio tracking
* Combined PnL reporting
* Consistent risk management

Users do not need to manage venue-specific accounts, execution flows, or position tracking manually.

{% hint style="info" %}
**Note** Execution behavior, supported markets, collateral assets, leverage limits, and execution speed may vary between venues. Flipper accounts for these differences while maintaining a consistent user experience.
{% endhint %}