The Products
Smart Order Routing Engine
Audited DEXs:
- Utilizes a pre-selected set of established and battle-tested DEXs.
Multiple Order Types:
- Processes both Limit and Market orders.
Advanced Execution Quality Optimization:
- Optimizes the order execution quality (e.g. slippage and order failure minimization) by continuously assessing th quality of each trading pair and fees on each DEX.
- Splits the order in multiple legs and routes to the highest quality pool.
- Uses proprietary algorithm for order path optimization in search for further improvements in execution quality.
- Further employs cheap internal matching for offsetting limit orders.
Token
The actors of the deFIRE ecosystem are defined in relation to order flow and CWAP tokens:
- 1. Order flow originators: these are entities who originate order flow, and chose to trade through deFIRE. These include traders, large and small, brokers of all kinds as well as referral agents.
- 2. Third-party execution venues: these are the entities that deFIRE routes the orders sourced from originators to. In simpler terms, these are predominantly DEXs (or, potentially, in the future other routers).
- 3. Pool originators: entities that own assets that they use to list the said assets on a third-party execution venue in a permissionless setting or otherwise. Listing an asset on a DEX boils down to opening a liquidity pool, hence the name ‘pool originators’.
- 4. deFIRE serves as a middleware between traders and other orderflow originators who seek best execution and third-party execution venues who offer liquidity against orders sent their way.