By registering, clients agree to abide by the rules described here. These rules are designed to ensure that clients are acting in good faith and maintaining behaviors that contribute to a smooth DEX experience for other users.
At the expiration of the epoch, every client with an order will receive a
preimage request. The client has 5 seconds to respond.
Swap transactions must be created at the correct times (see broadcast timeout).
In the event that the maker fails to start the atomic swap process with their initialization transaction, the taker will be notified that order execution is terminated due to failure of the maker to accept the order. The Maker's limit order will not go back on the order book, but they may be given the option to replace the order.
In the event that the taker fails to respond to the maker's initialization transaction, the maker will incur no violation.
The cancellation rate is the ratio of the count of canceled orders to the count of all completed orders. The completed order count is the sum of canceled orders and fully settled orders. An order is considered fully settled if it is no longer booked, had at least one match, and has completed all swaps from matches made with the order. Failed swaps where the counter-party is at fault do not count against the user. An order is considered canceled when a cancel order is matched to a standing limit order. The server may also cancel an order if the client's connection is dropped and the client fails to reconnect for more than 1 epoch duration. Cancellation of a partially filled order is counted as a full cancellation. The cancellation threshold is set by the DEX operator. The cancellation rate is evaluated on a 100-order rolling window.
A new user is exempt from the cancellation rate requirement while their
completed order count, total, is not greater than
threshold/(1-threshold). This follows from the possibility of the
next completed order being fully-settled and just passing the required
cancellation rate threshold: total / (total + 1) <= threshold
The swap output value must be sized to exactly the matched amount. The fee rate must be at least the minimum value set by the DEX. It is the client's responsibility to ensure that fees on a partial fill are not overpaid to a level that results in a violation of rules 1 or 3 when the remaining portion is matched.
The primary penalty for breaches of conduct is a ban, which includes loss of trading privileges, forfeiture of registration fee, and immediate revocation of any unfilled orders.
Less drastic punitive measures such as a cool-down period may be considered for minor, first-time or infrequent conduct violations.
In the event that a rule is broken, the client will be sent a notification that includes penalization details. If the client is offline, this information will be sent in the connect response.
Notification route: penalty, originator: DEX
payload
| field | type | description |
|---|---|---|
| penalty | object | a Penalty object (definition below) |
| sig | string | hex-encoded signature of the serialized Penalty object |
| field | type | description |
|---|---|---|
| brokenrule | int | the rule that was broken |
| timestamp | int | the UNIX timestamp in milliseconds at which the penalization occured |
| duration | int | the duration in milliseconds of the penalization |
| details | string | a message describing the penalization |
Penalty serialization
| field | size (bytes) | description |
|---|---|---|
| brokenrule | 1 | the rule |
| timestamp | 8 | server's UNIX timestamp (milliseconds) |
| duration | 8 | duration (milliseconds) |
| details | string | a message (UTF-8) |