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
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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