Orderbook and Matcher
The order book records all buy and sell orders for various trading pairs. It displays the current market depth, showing the quantities available at different price levels for each asset. When a new order is placed, it is added to the order book and waits to be matched with a corresponding buy or sell order.
The matcher is responsible for pairing buy and sell orders from the order book. When a match is found, the matcher executes the trade and charges a fee of 0.1% for facilitating the transaction. This fee is applied to the order that gets executed.
How the Spot Market Works
In the spot market, users can trade cryptocurrencies at current market prices. The process involves:
Placing Orders: Users place buy or sell orders, specifying the amount and price.
Matching Orders: The matcher pairs compatible buy and sell orders from the order book.
Executing Trades: When orders are matched, trades are executed, and assets are transferred between users.
Fees: A fee is charged for each executed trade based on the fee structure and the matcher fee.
The spot market operates in real time, providing liquidity and enabling users to trade assets efficiently.
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