> For the complete documentation index, see [llms.txt](https://ocx.gitbook.io/ocx-doc/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ocx.gitbook.io/ocx-doc/ocx/product/settlement.md).

# settlement

OCX uses a hybrid settlement model: **on-chain custody for funds, off-chain matching for trades**.

## Custody on Base

USDC deposits are held in an on-chain vault on the Base network. The vault address and associated contracts are public and verifiable on-chain.

| Asset         | Network                      | Address                                      |
| ------------- | ---------------------------- | -------------------------------------------- |
| USDC-T        | Base Sepolia (chainId 84532) | `0x3295682B1Ee3B069de71371B649aFe7b74f4774E` |
| Vault         | Base Sepolia                 | `0x66733107356D31712D6272d91374f962C087910c` |
| Wallet Router | Base Sepolia                 | `0x1967f0d076B6ffA9B4C32a57bcC01Ec1af77bd59` |

## Deposit flow

1. You send USDC-T to the OCX vault from your wallet.
2. An indexer verifies the transaction and credits your wallet balance.
3. Funds become immediately usable — you can transfer to the perps or options bucket and begin trading.

Typical time from confirmation to credited balance: **under one block**.

## Trading flow

Once your balance is credited, orders execute against an off-chain central limit order book. Trades settle instantly in the database; there is no per-trade gas cost. Positions and PnL are visible in your portfolio view in real time.

## Withdrawal flow

1. You submit a withdrawal request through the API or UI. Your `tradableBalance` is immediately debited and moved to a `pendingWithdrawal` state.
2. An automated keeper batches and executes the on-chain transfer back to your wallet via the Wallet Router contract.
3. Once confirmed, the withdrawal transitions to `settled` and is recorded with the on-chain transaction hash.

Typical withdrawal confirmation: **under one minute**.

## Buckets

Your USDC balance is partitioned into buckets so that risk is isolated between products:

| Bucket    | Used for                                           |
| --------- | -------------------------------------------------- |
| `wallet`  | Idle balance, available for transfer or withdrawal |
| `spot`    | Collateral for spot trading                        |
| `perps`   | Collateral for perpetual and futures trading       |
| `options` | Collateral for options trading                     |

Transfers between buckets are instant and incur no fee. See the [Wallet API](file:///7302513/api/wallet.md) for endpoints.


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