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Every Everstrike account maintains a perpetual state channel with the operator. The state channel tracks your balances and positions off-chain, creating a continuously updated bilateral record of the agreed state of your account. Either you or the operator can revoke the channel at any time. If the operator refuses to cooperate with a withdrawal, your latest state receipt is the cryptographic proof you need to recover your funds without their involvement.

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What is a State Receipt?

A state receipt is a signed snapshot of your current state channel. It is a rolling agreement between you and the operator that records exactly what both parties have agreed to. Each receipt contains:
  • Nonce — a sequential counter that identifies where this receipt falls in the chain of receipts. Higher nonce means more recent.
  • User signature — your cryptographic signature confirming the state.
  • Operator signature — the operator’s cryptographic signature confirming the same state.
  • User balance — your current evUSD balance as of this receipt.
  • User positions — all open positions as of this receipt.
Because both parties must sign every receipt, neither can unilaterally alter the record.

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When You Receive a New Receipt

You receive a new state receipt after any operation that changes your balances or positions. This includes:
  • Submitting or cancelling an order
  • Trades executing against your orders
  • Funding transactions (for perpetual futures and options)
  • Deposits to your account
  • Withdrawals from your account
Each new receipt supersedes the previous one. Keep your most recent receipt — it is the only one valid for Trustless Withdrawal.

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Using Your State Receipt

Always use the receipt with the highest nonce. This is your most recent receipt and the only one that reflects the current agreed state of your account. If you attempt a Trustless Withdrawal with an older receipt, the operator can invalidate the request by submitting a newer one during the 24-hour challenge window. An invalidated request forfeits the Dishonesty Fee.
Never submit a Trustless Withdrawal with any receipt other than your latest. Using an outdated receipt when you have a valid newer one will result in the operator challenging and invalidating your request, and you will lose the Dishonesty Fee.

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If You Lose a Receipt

State receipts are stored in three places: on your device, with the operator, and in Everstrike.sol on-chain. If you lose a receipt from your device:
  1. Request your latest receipt from the operator.
  2. If the operator refuses to provide it, retrieve it directly from Everstrike.sol — the contract holds the last committed receipt.
If the operator refuses and you cannot recover from on-chain state, stop trading immediately and contact Everstrike support before taking further action. For the full emergency withdrawal procedure including fees and pre-submission checks, see Trustless Withdrawal.