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On-Chain Orderbook

PyxMarket uses a fully on-chain central limit order book (CLOB). Every order placement, cancellation, match, and settlement is executed on-chain.

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How It Works

  1. A trader submits a limit order (side, price, amount) as an EVM transaction

  2. The prediction precompile (0x105) processes the order

  3. If a matching counterparty exists, the trade executes immediately

  4. If no match, the order sits on the book until filled or cancelled

  5. All state changes emit EVM logs for real-time tracking

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Why On-Chain

Most prediction markets use off-chain orderbooks with on-chain settlement. PyxMarket puts everything on-chain:

  • Transparent — anyone can verify order flow and matching

  • No front-running — deterministic execution order within blocks

  • No centralized sequencer — the orderbook is part of the consensus state

  • Composable — other smart contracts can interact with the orderbook

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Performance

The orderbook runs as an EVM precompile (native Rust code) rather than a Solidity smart contract. This gives near-native execution speed while maintaining EVM compatibility for tooling and events.

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