Glossary

Glossary

Ecosystem Book	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
Router Book	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.