TRC127: Market based on system contracts #127
Description
tip:127
title: Market based on system contracts
author: sean Liu <[email protected]>
discussions to: https://github.com/tronprotocol/TIPs/issues/127
status: draft
type: Standards Track
category: TRC
created: 2020-01-20
Simple Summary
This TIP provides system contracts for the market in java-tron.
Abstract
This TIP provides system contracts to support the exchange of token, including TRX and TRC-10. The main features include an online order table and online matching.
Using the online order table is one of the biggest features of this project, because of that, all order information is transparent and can be checked. At the same time, it also provides online matching functions, this means it does not rely on an offline centralized matching system, completely decentralized, which is safe and reliable. To achieve these, an innovative trading protocol is adopted, and greatly improves the efficiency of matching transactions. In addition, compared with the smart contract form, the form of built-in system contracts consumes fewer system resources, so the fee is greatly reduced.
Motivation
Security, transparency, and efficiency have always been at the core of DEX, but exchanges in the form of smart contracts often rely on offline matchmaking systems.
In addition, the higher costs also lead to users avoiding frequent transactions as much as possible, reducing the overall transaction volume.
Rationale
The core of the project is how to store the online order table. A double-link list scheme is proposed. For a price pair, all prices form a linked list and all orders of the same price form another linked list. Compared with a linked list structure with only one layer, it can greatly reduce the number of queries.
Another core issue is how to sort it on the chain. The pre-calculation method is adopted here, that is, the user first obtains the price position information when creating a transaction. Considering that a large number of transactions occur at the same time, the redundant processing of position information is the key to the design.
Specification
Only two system contracts are added, which are convenient and simple to use.
Create new order：
message MarketSellAssetContract {
bytes owner_address = 1;
bytes sell_token_id = 2;
int64 sell_token_quantity = 3;
bytes buy_token_id = 4;
int64 buy_token_quantity = 5;
bytes pre_price_key = 6;
}
Parameter：
owner_address：owner address
sell_token_id：sell token id
sell_token_quantity：sell token quantity
buy_token_id：buy token id
buy_token_quantity：buy token quantity
pre_price_key:order price position
Cancel an order:
message MarketCancelOrderContract {
bytes owner_address = 1;
bytes order_id = 2;
}
Parameter：
owner_address：Owner address
order_id：order id
A set of query interfaces is also provided.
Get all orders for the account:
rpc GetMarketOrderByAccount (BytesMessage) returns (MarketOrderList) {};
Get all orders for the trading pair:
rpc GetMarketOrderListByPair (MarketOrderPair) returns (MarketOrderList) {};
Implementation
coming soon
Copyright
All content herein is licensed under Apache 2.0.