What is CoinQuoter
Open Beta
Coin Quoter is currently in open beta.
Please, help us test. We invite anyone interested to test, trade with friends, or at the best price available.
Provide us with your feedback via discord.
What is CoinQuoter
CoinQuoter dApp facilitates low-latency price creation and price aggregation infrastructure for peer-to-peer exchange of tokens on EVM blockchains. CoinQuoter is combining OTC trading with last look known mainly from the FX market with on-chain trade settlement where the smart contract is playing the role of Central Clearing Counterparty.
CoinQuoter copies OTC FX multi-dealer quote aggregation, pricing engine workflows, OTC last look standard, replaces clearing house with a blockchain, and pre-trade risk assessment with on-chain token balance check. To assure low-latency execution we also added an on-chain user session on the maker and taker side replicating a regular login process. This combination is intended to serve as an alternative to the CLOB, AMM model popularized by Uniswap and OTC firm liquidity model popularized by 0x/1inch.
Participants of CoinQuoter Ecosystem
Market Makers
Market Makers use CoinQuoter rule-based pricing engine to provide quotes that can be used by Market Takers. Rates streamed by Market Maker do not commit the Market Maker to execute a particular quote (not Firm Quotes). It is up to the Market Maker to decide if the Execution Request sent by Market Taker should be sent to the blockchain for settlement.
Market Takers
Market Takers are getting the best prices aggregated from all OTC quotes provided by all Market Makers on the platform. Takers are trading their crypto assets by sending an execution requests to the Market Makers.
CoinQuoter Design
Crypto market is much more like FX than anything else. It is traded 24/5, on all continents with no central source of truth about current price on the market. Inspired by OTC FX we created our own unique dApp design.
CoinQuoter Design
copies OTC multi-dealer quote aggregation,
copies pricing engine workflows,
copies OTC last look standard,
replaces clearing house with a blockchain,
replaces pre-trade risk assessment with on-chain balance check,
compromises sub-millisecond latency achievable on top Crypto exchanges running CLOB model,
give last look protection for market makers,
allow almost risk-free liquidity brokerage (pass liquidity from one place to the other and make immediate risk fee profit with every trade),
democratize access to OTC market making thanks to public access to blockchains.
CoinQuoter Workflow
Simplified workflow description
Market makers need to have an active “session” that will allow them to push trades to the blockchain as fast as possible.
Market makers are setting up an open-source Maker panel that will be responsible for final trade confirmation and will push trades for settlement to the blockchain.
Market makers are setting up pricing rules on Quoter Panel or are integrating their own data sources.
Quoter will select the best rates for the market takers.
Market Taker needs to create a session as well, to assure that trade requests will be sent to the Market Maker just after an execution confirmation click.
The execution request of market taker contains a signature to allow market maker to settle the trade on the blockchain.
Quoter server is the validating execution request of Takers and sends it to the Market Makers.
Open source Market maker panel makes a sanity check and sends it to the blockchain.
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