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

# Architecture Overview

Merlin Markets is built on three core layers.

**1. Market Layer** All markets are created and settled fully onchain on Injective. This gives Merlin institutional-grade settlement and matching infrastructure without relying on centralized intermediaries.

**2. Oracle Layer** Market resolution is powered by price oracles. When a market expires, real-world price data is brought onchain and the contract settles automatically.

**3. Application Layer** The Merlin frontend at [test.merlinmarkets.xyz](https://test.merlinmarkets.xyz) provides a clean trading interface on top of the protocol. Market creation is currently admin-controlled during beta to ensure market quality and data availability.


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