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Orderbook DEXes

Traditional orderbook trading process for swapping tokens. In addition to the traditional order matching, most orderbook DEXes will also search for opportunities for orders to be settled on AMM DEXes.

Principles​

Orders are signed (cryptographically committed) by the user and distributed across a network of counter-parties. The order is comitted on-chain once a counter-party is found. Orders have to be matched off-chain due to gas costs of settlement.

Benefits​

Intuitive swap model based on historical precedent; Able to set target prices; Less slippage risks

Protocols​

  • 0x
  • Loopring
  • Serum