Introduction

Ekiden is a decentralized, orderbook-based hybrid exchange built on Canton Network blockchain. It combines an off-chain Central Limit Orderbook (CLOB) with deferred on-chain settlement to deliver high performance, transparency, and capital efficiency for both spot and perpetual futures markets. Built on a rollup-like architecture with Merkle-based proofs, Ekiden is designed to meet the demands of high-frequency traders and institutional DeFi participants.

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Key Features

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Perpetual Futures Exchange

• Central Limit Orderbook (CLOB): Off-chain matching with on-chain Merkle commitments for auditable, transparent price discovery.
• Deferred On-Chain Settlement: Batched updates posted to Canton, balancing throughput and verifiability.
• Position Management: Positions tracked using original order data and Merkle inclusion proofs.
• Price Discovery: Powered by CLOB; spot integration planned.

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Scalability Through Rollup-Like Design

• Merkleized Orderbooks: Orders compressed into Merkle proofs stored on-chain.
• Off-Chain Data Availability: Full data hosted on nodes or external layers.
• Batch Processing: Efficient, low-cost settlements.

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Lightning-Fast Performance

• Execution Latency: 5–15ms, competitive with leading centralized exchanges.
• Taker Fee: 0.02% (baseline PoC).
• Maker Fee: 0%, incentivizing liquidity provision.

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Intuitive UX

• Rapid Onboarding: Seconds to begin trading.
• Streamlined Wallet Interaction: One-click trade execution.
• Customizable Tools: Designed for retail and institutional users.

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Self-Custody

• User Control: No centralized intermediaries. Users retain full asset custody.

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Powered by Ekiden

• Hyper-Parallelization: 200k orders per second per market
• Low Latency: Sub-10ms execution speed.
• Secure Finality: Trustless, on-chain settlement.