Instant Trading (Solvers)
Instant Trading on SYMMIO: A Comprehensive Introduction
SYMMIO is revolutionizing decentralized derivatives trading with the introduction of Instant Trading. This feature significantly enhances the trading experience by drastically reducing trade execution times and providing immediate feedback to users. This document provides a thorough overview of Instant Trading, its benefits, how it works, and guidance on implementation for developers and solvers.
What is Instant Trading?
Instant Trading is a feature that allows traders to execute trades almost instantaneously on the SYMMIO platform. By delegating certain functions to trusted solvers, users can open and close positions without the need for signing each transaction individually. This results in trade execution and price lock times of under one second, closely matching the responsiveness of centralized exchanges.
Why Implement Instant Trading?
Speed and Efficiency
Reduced Execution Time: Achieve trade execution and price lock times under 1000 milliseconds.
Faster On-Chain Settlement: Transactions settle on-chain within 5–30 seconds, depending on the blockchain network.
Enhanced Trading Strategies: Enables strategies like scalp trading due to quicker price lock-in times.
Improved User Experience
Immediate Feedback: Users receive trade confirmations almost instantly, significantly improving the trading experience.
Reduced Waiting Times: Eliminates the previous wait of 20–60 seconds for price lock-in, offering a 50–100x improvement.
Competitive Edge: Positions SYMMIO as a leader in decentralized trading by matching the speed of centralized exchanges.
How Does Instant Trading Work?
Instant Trading leverages delegated access and session management to enable solvers to act on behalf of users without requiring individual signatures for each transaction. Here's how it operates:
Delegation of Functions: Users delegate specific trading functions to solvers through the MultiAccount contract. This allows solvers to execute trades on the user's behalf.
Authentication and Session Creation:
Users authenticate with solvers by signing a message containing essential details like wallet address, nonce, domain, URI, issued at, and expiration time.
Solvers verify the signature and issue an access token, which the frontend stores for subsequent requests.
Executing Trades:
With delegated access and authentication in place, solvers can open and close positions instantly when users initiate trades.
Temporary quote IDs are generated to track pending trades until they are confirmed on-chain.
Security and Control:
Users maintain control by setting expiration times for access tokens and can revoke delegated access at any time.
Adopting RASA's Instant Trading Implementation
RASA provides a standardized and efficient approach to handling instant actions— solvers are encouraged to follow RASA's implementation for Instant Trading.
Frontends and Implementation Flexibility
Frontends play a crucial role in delivering the Instant Trading experience to users. While there are minimum requirements, frontends have the flexibility to implement the feature in a way that best suits their users.
Minimum Requirements
Function Delegation: Implement the delegation of necessary functions to solvers as described.
Authentication Flow: Integrate the authentication and session management processes.
API Integration: Connect with solver APIs for instant actions, ensuring secure communication and token handling.
Future Roadmap
--TBA
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