Overview of DogX and Trading Mechanism

DogX operates on TON Chain, utilizing a Central Limit Order Book (CLOB) system for decentralized trading through smart contracts. The platform combines a traditional limit order book model with off-chain order placement services, with settlements executed on-chain. All orders are structured and signed data (EIP712), ensuring users maintain full control over their assets. The next phase of DogX's development aims to expand to a multi-chain ecosystem, supporting operations on various blockchain networks.

2.1 Overview of CLOB API

DogX’s Central Limit Order Book (CLOB) API provides REST and WebSocket endpoints, enabling market makers, traders, and other users to create and manage orders on the markets. Orders can be limit or market orders, with information on prices, volumes, and status provided through API endpoints.

2.2 DogX Order Book System

DogX uses custom smart contracts to execute atomic transactions between binary outcome tokens (ERC1155) and collateral assets (USDT). This system allows for the unification of the order book, ensuring that users' buy and sell orders are automatically and transparently matched. DogX smart contracts support activities such as splitting and merging tokens and managing collateral assets for transactions.

2.3 Trading Fees

Trading fees are calculated based on the value of the exchanged assets and applied symmetrically. This ensures that both buying and selling tokens incur equivalent fees, helping maintain market integrity. Transactions by makers and takers are subject to specific predetermined fee levels.