Matching Engine Overview

EVEDEX's matching engine is built on a modular architecture optimized for the unique demands of decentralized perpetual futures trading. Key features include:

  • High-Performance Processing The EVEDEX matching engine has been designed and tested under controlled conditions to process orders with maximum efficiency. In our testing environment, the system has demonstrated:

    • Target throughput: Up to 100,000 orders per second under optimal conditions

    • Target latency: ~100 microseconds in standard network conditions

    • Scalability: Horizontal scaling capabilities for increased demand

Actual performance may vary based on network conditions, market volatility, and technical factors.

  • Price-Time Priority Algorithm Ensures fair and efficient order matching, maintaining market integrity.

  • Support for Complex Order Types Accommodates a wide range of order types including Limit, Market, Stop, and Stop-limit orders, as well as various time-in-force instructions (DAY, GTC, FOK, IOC).

  • Advanced Risk Management Incorporates comprehensive risk controls including message throttling, fat finger protection, and self-match prevention to safeguard traders and maintain market stability.

Tailored for perpetual futures

EVEDEX's matching engine has been specifically adapted for perpetual futures trading:

  • Instrument Flexibility Supports on-the-fly creation of new trading pairs, allowing quick response to market demands and opportunities.

  • Precision Trading Offers up to 8 decimal places for price and quantity, enabling precise position management for traders.

  • 24/7 Trading Continuous market operation with automated state scheduling, aligning with the always-on nature of crypto markets.

  • Market Maker Support Features mass quote and cancel functionalities, encouraging liquidity provision.

Decentralized Architecture

While leveraging the power of DXmatch technology, EVEDEX's matching engine has been re-engineered taking into account the maximum possible decentralization and the interests of users:

  • Blockchain Integration Seamlessly interfaces with our Layer 3 solution, ensuring all trades are verifiable and immutable.

  • Smart Contract Interaction Direct communication with our suite of smart contracts for order execution, settlement, and collateral management.

  • Decentralized Oracles Integrates with decentralized price feeds to ensure accurate and manipulation-resistant pricing for all trading pairs.

Scalability & Resilience

The matching engine is designed to grow with EVEDEX's ecosystem:

  • Horizontal Scaling Ability to add additional matching engine segments as trading volume increases.

  • High Availability Implements automatic failover mechanisms to ensure uninterrupted trading.

  • Cloud-Native Design Deployable on decentralized cloud infrastructure, enhancing reliability and reducing single points of failure.

API & Integration

EVEDEX provides robust APIs for seamless integration:

  • Multiple Protocols Supports FIX 5.0, WebSocket, and REST APIs, catering to various trading strategies and integration needs.

  • Comprehensive Documentation Detailed API specifications available through AsyncAPI and Swagger, facilitating easy integration for developers and trading firms.

  • Open-Source SDKs A range of software development kits in popular programming languages, enabling the community to build on top of EVEDEX's infrastructure.

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