Hyper-parallelized on-chain order book for the Aptos Labs
Econia is a protocol that lets anyone in the world trade a digital asset with anyone else in the world, at whatever price they want. More specifically, Econia is an order book, a fundamental financial tool utilized by financial institutions like stock markets, except unlike the New York Stock Exchange or the NASDAQ, Econia is open-source and decentralized.
Econia, the economic engine of tomorrow, is a hyper-parallelized on-chain order book for the Aptos blockchain, designed to aggregate liquidity from all corners of the world into one digital marketplace. Both everywhere and nowhere, Econia is a kind of financial ghost, a core back-end system for DeFi wherever you may find it.
If the developers behind Econia do their job right, then you might never notice it at all. Unless you too are a DeFi developer.
Designed from the ground up to clear trades as fast as possible, Econia’s interface to the world is a rich API suite, on top of which anyone can build their own custom implementations. Configurable, extensible, and completely permissionless, Econia’s infrastructure provides a base layer for the emerging Aptos DeFi ecosystem.
Host to blazing fast decentralized markets, Econia is a liquidity nervous system that anyone can tap into, from whichever front end they prefer. Clearing trades from various user interfaces against one another through a unified back-end system, Econia helps dApp developers provide their end users with tight spreads, a variety of markets, and all of the depth to be expected from a global trading venue.
With Econia’s delegated custodian architecture, end users can delegate authority over portions of their trading activity to third-party custodians, who are only allowed to trade on markets that signing users approve. The result is a modular interface that allows third parties to build margin trading, cross-chain solutions, and in some cases, trading venues for non-coin assets like derivatives:
By combining custodian capabilities with a general-purpose matching engine, Econia’s latest v3 release introduces asset-agnostic support, which means that users are no longer restricted to trading only conventional “coin types” against one another. Here, a market-level custodian approves generic asset transfers, verifying deposits to and withdrawals from an Econia user’s market account, enabling trades against the order book for exotic instruments like options, perpetual futures, and bets in a prediction market:
Econia v3 also adds support for various forms of order configurability, with limit orders now offering fill-or-abort, post-or-abort, and immediate-or-cancel types. Moreover, market orders and swaps now allow users to specify a limit price, as well as minimum and maximum fill amounts for both sides of a trade.
Groups of developers are already building sleek interfaces on top of Econia, and soon enough there will be trading views with all of the interactive features to be expected from a user-facing front end. In the meantime, the developers behind Econia will continue iterating with their organically-growing network of collaborators, building out the protocol to support the needs of all integrators, and by extension, their users.
Like the NASDAQ or the NYSE, Econia is an ephemeral connection point between buyers and sellers, but unlike these institutions, Econia is decentralized, distributed, and disturbingly (at least to centralized financial services providers) hard to turn off.
Econia cannot be shut down, cannot be controlled by any one person, and to that extent, Econia is here to stay. Econia is here — to clear your trades.