Inside the Mettalex platform an important role is played by Position tokens. These tokens are minted in pairs by the Mettalex smart contract by locking up collateral into it (i.e. stablecoins such as USDT, BUSD or USDO). This process takes place on the Tokenisation Layer. In the latter, the Mettalex Vault is fundamental as it contains the collateral that backs the pairs of Long and Short Position tokens. The Mettalex Exchange Layer provides a reference price feed from an index or data-feed provider. The fairness of the information is guaranteed by the multiple sources providing different data (e.g. QUANDL, Chainlink, REFINITIV, Davis) and more data feeds will be added in the near future (e.g. Platts and Fetch.ai agents) thus providing a wide variety of possible oracles from which gather data. These multiple sources allow the communication between Mettalex and the real world. The price data gathered is processed by the Mettalex CloudSQL component in order to allow the implementation of new markets, the recovery of price feeds and to ensure the continuous updating of prices displayed to on-chain and off-chain components. Traders are presented with reliable indices providing valuation for the commodities listed. On this layer, Position tokens track the change in the price of an underlying asset and users are free to open positions on the market with them. As mentioned, Position tokens can be divided into Long tokens (i.e. L tokens) and Short tokens (i.e. S tokens). These respectively track the positive and negative change in a given price of an underlying asset. Traders can buy or sell using stable coin (e.g. USDT, BUSD) collateral by trading with other participants or the Mettalex AMM. In this case, the latter refers to the AMM pool (i.e. a different Balancer-based pool) which contains a mix of stable coin, L and S tokens that can be swapped among traders, while it adjusts the price of the tokens depending on liquidity demand and data from outside oracles. Position tokens are a disruptive technology equipped with various properties, such as: