Docs · MRC draft

A corridor is live, quoted, or unpriced. The chain decides which.

Henad's corridor registry has three tiers, and the MRC draft proposes them as the convention for onchain FX receipts on Monad. A corridor is live when Monad holds both a reference feed and a venue for the pair, so a payout can settle and its receipt can be attested: USD to GBP, EUR, CHF and JPY today. It is quote when a feed exists on Monad but there is no asset to deliver into, so Henad shows a reference rate and nothing else: CAD. It is unpriced when Monad has no usable feed at all, so no rate is shown and none is invented: naira, and the rand, whose only price on Monad was last published in 2025. The draft is discussed on the Monad forum ↗ before it is filed.

The draft itself proposes the receipt as a standard: a struct, an event, and a read interface, written in the same transaction as the conversion, so the reference rate, the executed rate and the spread in basis points are recorded in one shape across applications rather than one per application. Read the draft ↗