Glossary
Glossary
Refers to the order book that deals with orders where both taker and maker orders originate from traders who have funds held in our Smart Contract. *We currently do not have any front end that supports the Ecosystem Book and interactions must happen via the Smart Contract and API
Exchange
It is the infrastructure responsible for maintaining the CLOB and providing access to it through endpoints for both users from our ecosystem and outside of our ecosystem through Routers.
Passive orders & non-passive orders
Passive orders are orders that add liquidity to the order book
Non-passive orders are orders that remove liquidity from the order book.
Routers
External parties that send orders to our Exchange. See detailed explanation here
Refers to the order book that deals with taker orders that originate from traders outside our ecosystem (and therefore do not have funds in our Smart Contract). This happens when users interact with LayerAkira via a wallet, aggregator or external DEX.
Smart Contract
Is the set of smart contracts that holds the user funds and performs necessary validation checks before any trading activity is executed. It allows users to perform certain activities (e.g., withdrawals) on-chain without direct interaction with the Exchange and emits events to the blockchain for each trading activity.
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