🏪Market

What is a market?

A market is where liquidity providers and takers meet to exchange an asset. Liquidity providers add liquidity (the base asset) to the market, while takers exchange an asset they own (the quote asset) for the liquidity.

What are the types of markets?

Joint supports both instant and interactive markets. Instant markets involve pairs that exist on-chain (e.g. USDT/WETH). Interactive markets involve pairs where one of the assets exist off-chain (e.g. USDT/JPY).

What is a market fee?

It is a fee deducted from every trade from a specific market and paid to the market creator. The market creator is responsible for setting the market fees.