Decentralized Exchange - Revision history

Admin at 10:57, 19 April 2025

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Admin at 10:46, 19 April 2025

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Admin at 23:28, 18 April 2025

2025-04-18T23:28:55Z

Admin at 14:06, 18 April 2025

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Admin at 13:54, 18 April 2025

2025-04-18T13:54:46Z

Admin at 13:54, 18 April 2025

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Admin at 13:53, 18 April 2025

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Admin at 13:16, 18 April 2025

2025-04-18T13:16:00Z

@@ Line 286: / Line 286: @@
 The tradeoff is the node may need to be online for this to work (at the time the fill occurs).
 Also we may want to move the orderbook from the sidechain to the client side.
@@ Line 292: / Line 293: @@
 We may want to come up with a scheme to change the WIF format of all trading keys so they cannot be under any circumstance, hacked as regular keys.
-This way we can promote BBP core wallet as having every key, in an equal original status when BBP was released as secure. (Maybe we combine this feature with Quantum resistant keys, since quantum computers are rising in capabilities very quickly).
+Another improvement is to make Portfolio Builder use newly generated private keys for staking, rather than the XLM/XRP exchange keys noted at the beginning.

@@ Line 45: / Line 45: @@
 This is the address that will hold native XLM.
-'''Portfolio Builder''': A satellite program that allows you to earn staking rewards for holding an equal amount of native BBP + colored foreign (see Extensions).
+'''Portfolio Builder''': A satellite program that allows you to earn staking rewards for holding an equal amount of native BBP + foreign (see Extensions).
 '''Exchange Flags''':Exchange Room | Trading Grid | Flags: The Flag "T" means theirs, "M" means Mine.  This way you can see your orders are M.
@@ Line 75: / Line 75: @@
-Send 100,000 BBP to yourself.  Now the exchange has funds to trade with.<brclass="mw_emptyline_first" />In this demo we also want to sell some DOGE for BBP.  Therefore we need to receive some Native DOGE into the BBP colored address.
+Send 100,000 BBP to yourself.  Now the exchange has funds to trade with.
@@ Line 131: / Line 132: @@
-This will place an order to buy 2.69 DOGE for 10,000 BBP.  The order will appear in the Buy grid.<brclass="mw_emptyline_first" />NOTE: You cannot trade with yourself as our atomic tx rejects wash trades with duplicate keys; however you can trade with yourself as long as you use two QT wallets with different key sets.<brclass="mw_emptyline_first" />Once another buyer enters the market to place an opposing trade with the same quantity and an at or better price than yours, your order will fill atomically.
+This will place an order to buy 2.69 DOGE for 10,000 BBP.  The order will appear in the Buy grid.

← Older revision		Revision as of 23:28, 18 April 2025
Line 30:		Line 30:


−	'''Coin Control''': From the QT left menu, click Send \| Inputs. This page allows you to pick specific coins that are used in a transaction.'''BBP Native Receive Addresses''': From the QT menu, click Window \| Receiving addresses. You will see a list of BBP receive addresses.~~<brdata-mce-bogus="1" />~~'''TRADING-PUBLIC-KEY''': This address is the only BBP native address the DEX will spend from (for security reasons).You must deposit BBP into this address in order to place trades where you Buy foreign currency.'''TRADING-ASSET-DOGE''': Your wallet will automatically mine a colored DOGE address. This is your colored BBP DOGE address that will hold native doge.'''TRADING-ASSET-XLM''': Your wallet will also mine a colored XLM address. This is the address that will hold native XLM.'''Portfolio Builder''': A satellite program that allows you to earn staking rewards for holding an equal amount of native BBP + colored foreign (see Extensions).'''Exchange Flags''':Exchange Room \| Trading Grid \| Flags: The Flag "T" means theirs, "M" means Mine. This way you can see your orders are M.	+	'''Coin Control''': From the QT left menu, click Send \| Inputs.
		+	This page allows you to pick specific coins that are used in a transaction.
		+
		+	'''BBP Native Receive Addresses''': From the QT menu, click Window \| Receiving addresses.
		+	You will see a list of BBP receive addresses.
		+
		+	'''TRADING-PUBLIC-KEY''': This address is the only BBP native address the DEX will spend from (for security reasons).
		+	You must deposit BBP into this address in order to place trades where you Buy foreign currency.
		+
		+	'''TRADING-ASSET-DOGE''': Your wallet will automatically mine a colored DOGE address.
		+	This is your colored BBP DOGE address that will hold native doge.
		+
		+	'''TRADING-ASSET-XLM''': Your wallet will also mine a colored XLM address.
		+	This is the address that will hold native XLM.
		+
		+	'''Portfolio Builder''': A satellite program that allows you to earn staking rewards for holding an equal amount of native BBP + colored foreign (see Extensions).
		+
		+	'''Exchange Flags''':Exchange Room \| Trading Grid \| Flags: The Flag "T" means theirs, "M" means Mine. This way you can see your orders are M.
		+
		+

	<u>'''Usage'''</u>		<u>'''Usage'''</u>

@@ Line 3: / Line 3: @@
 * The ability to add other currencies, which are compatible with the base58 wallet, into the exchange.  This may allow other communities to list their coins inside BBP's DEX.
-<u>''''''</u><u>''''''</u><u>''''''</u><u>'''Terminology'''</u>
+'''<u>Terminology</u>'''
 <brclass="mw_emptyline_first" />'''Native Coin''': The BBP built in currency, or a standard BBP Base58/WIF keypair and its value in the BBP wallet.

@@ Line 2: / Line 2: @@
 * The ability to trade your BBP coins against another currency (such as DOGE), directly with other QT wallet users, without relying on a centralized exchange (CEX).
 * The ability to add other currencies, which are compatible with the base58 wallet, into the exchange.  This may allow other communities to list their coins inside BBP's DEX.
-<br /><u>'''Terminology'''</u>
 <brclass="mw_emptyline_first" />'''Native Coin''': The BBP built in currency, or a standard BBP Base58/WIF keypair and its value in the BBP wallet.

@@ Line 3: / Line 3: @@
 * The ability to add other currencies, which are compatible with the base58 wallet, into the exchange.  This may allow other communities to list their coins inside BBP's DEX.
 <br /><u>'''Terminology'''</u>
 <brclass="mw_emptyline_first" />'''Native Coin''': The BBP built in currency, or a standard BBP Base58/WIF keypair and its value in the BBP wallet.
@@ Line 24: / Line 23: @@
 The function the colored coin provides to BBP is:
-* <span class="mw_htmlentity"></span>Convert Value from a foreign network native UTXO to a BBP colored UTXO
+* Convert Value from a foreign network native UTXO to a BBP colored UTXO
-* <span class="mw_htmlentity"></span>Seamlessly trade the colored coins in the DEX with other users
+* Seamlessly trade the colored coins in the DEX with other users
-* <span class="mw_htmlentity"></span>Convert Colored coin value back to native value<brdata-mce-bogus="1" />
+* Convert Colored coin value back to native value<brdata-mce-bogus="1" />
 <brdata-mce-bogus="1" />
 '''Coin Control''': From the QT left menu, click Send | Inputs.  This page allows you to pick specific coins that are used in a transaction.'''BBP Native Receive Addresses''': From the QT menu, click Window | Receiving addresses.  You will see a list of BBP receive addresses.<brdata-mce-bogus="1" />'''TRADING-PUBLIC-KEY''': This address is the only BBP native address the DEX will spend from (for security reasons).You must deposit BBP into this address in order to place trades where you Buy foreign currency.'''TRADING-ASSET-DOGE''': Your wallet will automatically mine a colored DOGE address.  This is your colored BBP DOGE address that will hold native doge.'''TRADING-ASSET-XLM''': Your wallet will also mine a colored XLM address.  This is the address that will hold native XLM.'''Portfolio Builder''': A satellite program that allows you to earn staking rewards for holding an equal amount of native BBP + colored foreign (see Extensions).'''Exchange Flags''':Exchange Room | Trading Grid | Flags: The Flag "T" means theirs, "M" means Mine.  This way you can see your orders are M.<brclass="mw_emptyline" /><brclass="mw_emptyline" /><u>'''Usage'''</u>
@@ Line 195: / Line 193: @@
-<brclass="mw_emptyline" />However, we may eventually want to improve the exchange making it 100% decentralized through various technological advances.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />For example, maybe the NBitcoin code can be moved into each online client, allowing matching to occur client side as well.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />The tradeoff is the node may need to be online for this to work (at the time the fill occurs).<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />Also we may want to move the orderbook from the sidechain to the client side.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />We may also want to move to a market maker model, where market makers buy-sell colored coins and hold the collateral along with an equal amount of BBP.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />We may want to come up with a scheme to change the WIF format of all trading keys so they cannot be under any circumstance, hacked as regular keys.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />This way we can promote BBP core wallet as having every key, in an equal original status when BBP was released as secure.<span class="mw_htmlentity"></span> (Maybe we combine this feature with Quantum resistant keys, since quantum computers are rising in capabilities very quickly).<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />Another improvement is to make Portfolio Builder use separate private keys, that are not intermingled with the exchange.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />(Currently portfolio builder uses the same XRP/XLM keys as the exchange keys at the beginning of this page, primarily because of the high starting fee required to open an XRP account - 10 XRP, hence the plus is having one account for XRP/XLM).
+<brclass="mw_emptyline" />However, we may eventually want to improve the exchange making it 100% decentralized through various technological advances.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />For example, maybe the NBitcoin code can be moved into each online client, allowing matching to occur client side as well.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />The tradeoff is the node may need to be online for this to work (at the time the fill occurs).<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />Also we may want to move the orderbook from the sidechain to the client side.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />We may also want to move to a market maker model, where market makers buy-sell colored coins and hold the collateral along with an equal amount of BBP.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />We may want to come up with a scheme to change the WIF format of all trading keys so they cannot be under any circumstance, hacked as regular keys.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />This way we can promote BBP core wallet as having every key, in an equal original status when BBP was released as secure. (Maybe we combine this feature with Quantum resistant keys, since quantum computers are rising in capabilities very quickly).<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />Another improvement is to make Portfolio Builder use separate private keys, that are not intermingled with the exchange.<brclass="mw_emptyline_first" /><brclass="mw_emptyline" />(Currently portfolio builder uses the same XRP/XLM keys as the exchange keys at the beginning of this page, primarily because of the high starting fee required to open an XRP account - 10 XRP, hence the plus is having one account for XRP/XLM).

@@ Line 1: / Line 1: @@
-Introduction
+'''Introduction'''
 The Biblepay Decentralized Exchange (DEX) was created with various goals in mind:
 The ability to trade your BBP coins against another currency (such as DOGE), directly with other QT wallet users, without relying on a centralized exchange (CEX).
 The ability to add other currencies, which are compatible with the base58 wallet, into the exchange.  This may allow other communities to list their coins inside BBP's DEX.
@@ Line 94: / Line 102: @@
 Technical Specs
 Risks
 Future State