KeepTrade Limit Order Protocol: The Best Limit Order Protocol
KeepTrade Limit Order Protocol is a decentralization limit order protocol on the blockchain powered by the KeepTrade ecosystem.
Inspired by the concept of Keep3r, KeepTrade, as an ecosystem, enables multi-chain optimized trading solutions for keepers and traders.
KeepTrade Limit Order Protocol demonstrates exchange on one token for another at a specific price, compatible with any DEX. Each limit order is automatically split and internally paired according to the market. Traders do not need to worry about gas prices.
How it works
1. Trader set a limit order
Trader sends a transaction to the protocol, sets limit order on the order book, and transfers the amount of Token A to the smart contract.
For example, the trader set a limit order to exchange 1000 token A to token B, at a price of 1 Token A = 2.4 Token B.
2. Keepers query the order book
Keepers query the order book to get all limit order details, then update those details to their local database.
3. Keepers query DEXs token price
Keepers query DEXs or any token source to get the lowest token price. (In other terms, highest selling price) Keepers manage their token pricing data and compare the token price with the limit order token price to find arbitrage opportunities.
4. Keeper sends a transaction to fill a limit order
When the keeper found an arbitrage opportunity, they would send a transaction to fill the limit order.
So…why is it cool?
KeepTrade Limit Order Protocol improved several drawbacks of other limit order solutions. Powered by the KeepTrade ecosystem, the protocol has its unique features and market position.
Decentralized order executor
Every keeper could have their logic and send the transaction themselves. Thus, service reliability does not rely on a few numbers of devices by using the decentralized approach.
Compatible with any smart contract protocol
Our core contract code only interacts with traders and keepers. Keepers could program their logic to interact with any smart contract protocol. Therefore, we do not need to update any contract code to support any new DEX protocol.
No need to consider processing gas price
Using the keeper mechanism, the keeper is responsible for sending the transaction and paying for the gas. Keeper is expected to send the transaction with a real-time updated gas price. As multiple keepers may execute their algorithm to fill the same limit order, the keeper sending the transaction with a low gas price could not benefit from the arbitrage. Therefore, the transaction is expected to submit at a fast and reasonable gas price under this mechanism.
The same contract code works on any EVM compatible blockchain or layer 2 solution
The protocol is programmed in Solidity and does not rely on any specific smart contract protocol. The same contract code works on any EVM-compatible blockchain or layer 2 solutions.
As low as zero protocol fee
KeepTrade limit order protocol offers a discount for KeepTrade token holders. Both keeper and trader could hold KeepTrade tokens in their wallet to enjoy the discount on the protocol fee. We offer as low as zero protocol fee discount to attract more traders to hold KeepTrade tokens.
Automatically split a large order
As the token price is fixed in the limit order, the market may not be able to fill a large order at once or at one DEX. A large order at KeepTrade Limit Order Protocol could automatically split into multiple DEXs or multiple transactions.
Internal pairing
KeepTrade web interface uses off-chain logic to pair limit order internally. As KeepTrade Limit Order Protocol offers as low as zero protocol fee, internal pairing minimizes unnecessary costs of the limit order.
About KeepTrade
KeepTrade is a sustainable ecosystem for traders. KeepTrade Limit Order Protocol and KeepTrade Trade Wallet are two initial solutions for the KeepTrade ecosystem, while more and more solutions are under development that will be deployed in the future.
