Paradigm is an institutional liquidity network designed to facilitate trading across a wide range of financial instruments, including cryptocurrencies. It connects various market participants such as market makers, OTC desks, hedge funds, and professional traders, enabling them to trade with deep liquidity across over 120 products. The platform supports on-demand auctions via request for quotes (RFQs) and features complex order books tailored for diverse trading strategies.Paradigm allows for seamless trading of options, perpetuals, and futures, accommodating both single and multi-leg strategies. It is integrated with multiple centralized finance (CeFi) exchanges and decentralized finance (DeFi) protocols, enhancing its connectivity within the crypto ecosystem. Notably, Paradigm does not take custody of users' funds; instead, it facilitates atomic settlement through its exchange partners or directly on-chain.