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Orderbook Overview

Who This Is For​

Developers building trading bots, connectors, broker adapters, or trading UIs.

What This Page Covers​

What this orderbook rollup is, how it scales matching without giving up decentralization, and the fastest path to integration.

What Is an Orderbook​

An orderbook is a market model where buyers and sellers place limit orders at specific prices. The matching engine continuously matches compatible buy and sell orders using price-time priority.

At a high level:

  • Buyers submit bids (the highest bid is best).
  • Sellers submit asks (the lowest ask is best).
  • When prices cross, trades execute.
  • Unfilled limit quantity remains on the book as resting liquidity.

Why This Orderbook Is Different​

This orderbook runs as a rollup execution layer and posts proofs directly to the Virtual Settlement Layer (VSL). That gives you centralized-exchange style matching throughput with onchain-verifiable state commitments.

In this model:

  • Matching is executed offchain for speed.
  • Full orderbook state commitments are posted onchain every 2 blocks.
  • Proofs are posted to VSL so downstream settlement can rely on verifiable state transitions.

This is the core scaling tradeoff you want as an integrator: high-frequency matching performance without giving up decentralization guarantees.

How This Differs from AMM Routing​

AMMs quote from pool curves. Orderbooks quote from explicit resting orders.

Practical differences for integrators:

  • Price formation: AMMs are curve-based; orderbooks are order-driven.
  • Execution style: AMMs usually execute immediately against pool state; orderbooks can rest, partially fill, or be cancelled.
  • State tracking: orderbooks require lifecycle tracking (open, partially_filled, filled, cancelled) and live depth updates.
  • Settlement assurances: in this stack, rollup state/proofs are posted to VSL on a fixed cadence (every 2 blocks), so execution scale and decentralized verification can coexist.

Who Should Use This Stack​

This section is for teams that need one or more of the following:

  • Fine-grained execution control (limit/IOC/post-only/cancel-replace).
  • Real-time market depth and trade streams.
  • Deterministic lifecycle tracking for order management.
  • Exchange-style trading UX.

Fastest Path to Integration​

  1. Read Introduction for system boundaries.
  2. Read Order Lifecycle to understand order states.
  3. Configure Production Endpoints.
  4. Apply Authentication Headers.
  5. Complete Deposit to top up trading balance with vouchers.
  6. Read Architecture to understand proof posting and VSL settlement boundaries.
  7. Implement write paths using Engine API.
  8. Implement read paths using OMS API.
  9. Add market feeds from Market Data API.