> ## Documentation Index
> Fetch the complete documentation index at: https://docs.derivadex.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Explanation

> High-level DerivaDEX explanations covering how the platform works, why the architecture looks this way, how requests move through the system, and how DDX ties governance to operations.

Explanation is for the bigger picture. Read these pages when you want to understand why DerivaDEX works the way it does.

## How the exchange works

* [How DerivaDEX Works](/explanations/how-derivadex-works) explains the two-layer design, the operator network, encrypted requests, and the checkpoint cycle that anchors settlement to Ethereum.

## Why it is built this way

* [Why DerivaDEX Is Architected Differently](/explanations/why-derivadex-is-architected-differently) compares centralized venues, on-chain markets, rollups, and app-chains, then shows which problem each DerivaDEX design choice is solving.

## How DDX fits in

* [Token Economy and Incentive Design](/explanations/token-economy-and-incentive-design) explains how DDX connects governance, operator accountability, trading incentives, and access tiers.