Kadia DEX
An exchange on Ergo where every order in a block settles at one reference price. You set your own floor, your order enforces it, and nobody needs Kadia's servers to get your funds back.
Batch clearing, in one paragraph
Orders are boxes on the chain. A settler gathers the orders for a market in a block and settles them together against the pool. The pool's new reserves set one reference price, P′, for the whole batch. Every filled order gets at least that price, less its fee. Opposite orders net against each other first, so only the net flow moves the pool, and the price can move at most ±δ per block.
What you choose
- Swap orders: your minimum payout (
minOut) comes from your slippage, 0.5% by default. They may be submitted for the next block, with no guarantee of inclusion or timing. - Limit orders: your minimum payout comes from your price. You pick how long it stays open: a day, a week (the default) or a month. It can fill in parts, and may never fill.
- DCA, Grid and Route orders: a DCA order sells a fixed amount on a schedule, a grid order trades back and forth between two prices, and a route order sells in one market and then again in a second, to reach an asset the first pair doesn't pay. A route fills in both markets or not at all.
- Swaps fill whole: a swap order fills completely or not at all.
- Liquidity: add liquidity to both sides of a pool to earn the pool fee on trades that touch it, or add ERG only on an ERG market (a zap: a swap, then the deposit). Remove it at any time in the LP phase of a block.
- A new pool: anyone can create a pool between ERG and a token, seeded with their own liquidity. The DEX service checks it against the registry's rules first.
What protects you
- Your order checks its own payout. A settlement that pays you less than your floor is invalid as a whole.
- You can cancel at any time with your key. After expiry, anyone can refund your order to you, less at most the fee cap you set.
- Only markets the registry verifies are traded in the app. Look-alike markets exist; the app refuses them.
- A bridged token is marked as a Rosen token only when its token id is on Rosen's official list, never because of its name.
- Payouts carry a rent reserve by default: ERG that stays in your box with your tokens, so Ergo's four-year storage rent can't take them. It's yours, not a fee.
Status
The DEX is live on Ergo testnet, with 11 markets: ERG against ten test tokens (tUSE, tBTC, tADA, tETH, tBNB, tDOGE, tFIRO, tXMR, tLTC and tSOL), plus tUSE/tBTC. ERG on testnet and the test tokens come from the faucet and have no value. You sign in Nautilus, or with ErgoPay on your phone. The contracts are unaudited. Mainnet comes later, for all of Kadia together, with no date set. The roadmap says what changes next; the details are in the docs.