# Injective Trading Chain Analysis

> Analyze Injective chain-level code and protocol specs. Read Go source from injective-core, explain exchange module features (position offsetting, liquidations, margin tiers, funding), and identify spec gaps. Use when discussing chain mechanics, reviewing Injective Go code, or explaining protocol behavior.

- **Type:** Skill
- **Install:** `agentstack add skill-injectivelabs-agent-skills-injective-trading-chain-analysis`
- **Verified:** Yes — security-reviewed for prompt injection and unsafe behavior
- **Seller:** [InjectiveLabs](https://agentstack.voostack.com/s/injectivelabs)
- **Installs:** 0
- **Category:** [Finance & Payments](https://agentstack.voostack.com/c/finance-and-payments)
- **Latest version:** 0.1.0
- **License:** Apache-2.0
- **Upstream author:** [InjectiveLabs](https://github.com/InjectiveLabs)
- **Source:** https://github.com/InjectiveLabs/agent-skills/tree/master/skills/injective-trading-chain-analysis

## Install

```sh
agentstack add skill-injectivelabs-agent-skills-injective-trading-chain-analysis
```

Requires the [AgentStack CLI](https://agentstack.voostack.com/docs/cli). Works with Claude Code, Cursor, and any MCP-compatible agent.

## About

## Injective Trading Chain Analysis, Skill Guide

Analyze Injective chain-level protocol code (Go/Cosmos SDK).
Explain exchange module mechanics, review spec completeness,
and trace execution paths for derivatives trading features.

## When to apply

- Understand how Injective's exchange module works under the hood

Sample prompts: `./references/sample-prompts.md`

## Important

### Exchange module

Key files for the source code of the Injective exchange module may be found in: `./references/injective-core-key-files.md`

### Cosmos SDK Context

- Injective is built on Cosmos SDK (currently v0.47.x)
- Uses Tendermint BFT consensus
- Exchange module is a custom Cosmos SDK module
- State stored in IAVL tree via keeper pattern
- Messages processed in `DeliverTx` phase of ABCI

## Activities

### Explain Injective's exchange module

The exchange module (`x/exchange`) handles all trading on Injective.

Key areas:

- Derivative Markets
  - `MsgCreateDerivativeMarketOrder` / `MsgCreateDerivativeLimitOrder`
  - Position management: open, close, reduce, increase
  - Margin: initial margin, maintenance margin, margin ratio checks
  - Liquidation: forced closure when margin ratio < maintenance margin
- Position Offsetting (`MsgOffsetPosition`)
  - Allows netting opposing positions between subaccounts
  - Reduces total margin requirements
  - Chain-level implementation in `derivative_liquidations.go`
- Liquidation Engine
  - Triggered when position margin < maintenance margin requirement
  - Liquidator receives a portion of remaining margin as reward
  - Insurance fund covers negative PnL if position is underwater
  - Code path: `derivative_liquidations.go` → `ExecuteLiquidation()`
- Funding Rates
  - Calculated every hour for perpetual markets
  - Formula: `FundingRate = (TWAP_perp - TWAP_oracle) / TWAP_oracle`
  - Capped by `MaxFundingRate` parameter per market
  - Applied to all open positions proportional to quantity
- Market Parameters
  - `InitialMarginRatio`, `MaintenanceMarginRatio`
  - `MakerFeeRate`, `TakerFeeRate` (can be negative for rebates)
  - `MinPriceTickSize`, `MinQuantityTickSize`
  - `OracleType`, `OracleScaleFactor`

### Analyze chain code

1. **Read the Go source** from the user's local clone or fetch from GitHub (`InjectiveLabs/injective-core`)
2. **Trace the execution path** from message handler → keeper → state changes
3. **Explain in plain English** what the code does, step by step
4. **Identify spec gaps** - what's missing, ambiguous, or could break
5. **Compare to docs** - check if behavior matches published documentation

## Related skills

- `injective-mcp-servers`

If these skills are not available, selectively run the following commands to install them:

```shell
npx skills add InjectiveLabs/agent-skills --skill injective-mcp-servers
```

## Prerequisites

- Injective MCP server must be running
- User prompts should be issued from an AI tool that is configured to talk to the Injective MCP server

## Source & license

This open-source skill is cataloged on AgentStack and links to its original source — we do not rehost the code.

- **Author:** [InjectiveLabs](https://github.com/InjectiveLabs)
- **Source:** [InjectiveLabs/agent-skills](https://github.com/InjectiveLabs/agent-skills)
- **License:** Apache-2.0

Install and usage instructions live in the source repository linked above.

## Pricing

- **Free** — Free

## Security capabilities

Automated source analysis of v0.1.0 — what this tool can access:

- **Network access:** no
- **Filesystem access:** no
- **Shell / process execution:** no
- **Environment & secrets:** no
- **Dynamic code execution:** no

*"Yes" means the capability is present in the source — more access means more to trust, not that it is unsafe.*


## Versions

- **0.1.0** — security scan: passed — Imported from the upstream source.

## Links

- Listing page: https://agentstack.voostack.com/l/skill-injectivelabs-agent-skills-injective-trading-chain-analysis
- Seller: https://agentstack.voostack.com/s/injectivelabs
- Browse the marketplace: https://agentstack.voostack.com/browse

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Listed on AgentStack — the marketplace for AI agent skills and MCP servers. Every listing is security-reviewed. Creators keep 70%.