Nexera Exchange, a decentralized exchange (DEX) by AllianceBlock, has unveiled its first trading feature, an on-chain limit order book, according to a press release shared exclusively with crypto.news on Sep. 19.
Nexera’s on-chain limit order book
The Nexera Exchange, designed as an intermediary layer, is focused on enhancing user interactions with any decentralized exchanges it is integrated with. To achieve this, the DEX integrates trading features and tools that can only be found in centralized exchanges (CEX).
One such tool is the on-chain limit order book protocol.
Limit orders are on-chain or off-chain instructions to buy or sell an asset at a specific price. On-chain limit order books are stored and processed on the blockchain, which makes them more transparent and secure than off-chain limit order books.
Nexera’s on-chain limit order book protocol combines the benefits of on-chain and off-chain order books. The protocol allows users to set up a limit order stored on-chain while concurrently determining the optimal order match using the on-chain order book or Uniswap v3’s liquidity pools.
In this arrangement, the DEX enhance its functionalities by offering a more precise limit order while amplifying its liquidity.
Accordingly, Nexera users can benefit from the deep, accessible liquidity of Uniswap v3 while still having the security and transparency of an on-chain order book.
This enhances the DEX’s trading experience while also making transaction settlement efficient.
The on-chain order book grants self-custody users the benefit of enhanced security, with increased asset control and price transparency.
AllianceBlock to release more features
Nexera Exchange’s on-chain order book marks the start of the second development phase and serves as the initial addition to the DEX.
Other upcoming releases in the pipeline include Staking-Enabled On-chain Order Books, Order-Triggering Matching, Yield-Optimized Staked Order (YOSO), and Dynamic Range Order Book Provision.
This toolkit offers traders advanced trading tools that combine the unique features of DEXs with various defi primitives, improving flexibility.
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Source: https://crypto.news/nexera-exchange-unveils-on-chain-limit-order-book/