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Mate's Ecosystem

Mate's Participants

A user can participate in Mate in 2 different ways:

Trader

A trader can place limit orders on Mate for supported token pairs. The trader can choose a limit price at which they want to buy/sell a particular asset with customization on expiry time and execution slippage.

Executor

Anyone can earn trading fees by being an executor for the Mate ecosystem.
Executors can be bots, scripts, other contracts or simply EOA accounts that trigger execute order transactions. A network of executors constantly monitor the blockchain for pending limit orders and compete in order to fulfil them and get rewarded.

How does it work?

Mate limit orders are not placed on any centralized database. Order is placed via interaction with Mate's smart contract and executed via a network of executors.
Our existing decentralized network of executors ensures order execution happens. Even if a single executor has blacklisted a particular order and denies execution of the same, there is always some other executor waiting to execute the order and collect rewards for it. As long as the order fee rewards are greater than the executor's gas fee, there will always be a financial incentive to execute the order.

Why the executor model?

Best Liquidity

Order aggregation can be done across multiple AMM's to further increase the liquidity and efficiency of the order execution.
As AMM's liquidity pools have the most locked-in assets in DeFi, this helps fuel greater liquidity increasing the chances of successful order execution from Day 1 for the protocol to be usable.

Best Order Execution

No issue of lack of user's funds as Mate is fully non-custodial.
No need to wait for a taker to execute the order. Order is filled with a liquidity provider pool of any AMM.
Last modified 24d ago