State

Genesis state defines the initial state of the module to be used to setup the module.

// GenesisState defines the exchange module's genesis state.
type GenesisState struct {
	// params defines all the parameters of related to exchange.
	Params Params
	// accounts is an array containing the genesis trade pairs
	SpotMarkets []*SpotMarket
	// accounts is an array containing the genesis derivative markets
	DerivativeMarkets []*DerivativeMarket
	// spot_orderbook defines the spot exchange limit orderbook active at genesis.
	SpotOrderbook []SpotOrderBook
	// derivative_orderbook defines the derivative exchange limit orderbook active at genesis.
	DerivativeOrderbook []DerivativeOrderBook
	// balances defines the exchange users balances active at genesis.
	Balances []Balance
	// positions defines the exchange derivative positions at genesis
	Positions []DerivativePosition
	// subaccount_trade_nonces defines the subaccount trade nonces for the subaccounts at genesis
	SubaccountTradeNonces []SubaccountNonce
	// expiry_futures_market_info defines the market info for the expiry futures markets at genesis
	ExpiryFuturesMarketInfoState []ExpiryFuturesMarketInfoState
	// perpetual_market_info defines the market info for the perpetual derivative markets at genesis
	PerpetualMarketInfo []PerpetualMarketInfo
	// perpetual_market_funding_state defines the funding state for the perpetual derivative markets at genesis
	PerpetualMarketFundingState []PerpetualMarketFundingState
	// derivative_market_settlement_scheduled defines the scheduled markets for settlement at genesis
	DerivativeMarketSettlementScheduled []DerivativeMarketSettlementInfo
	// sets spot markets as enabled
	IsSpotExchangeEnabled               bool
	// sets derivative markets as enabled
	IsDerivativesExchangeEnabled        bool
	// the current trading reward campaign info
	TradingRewardCampaignInfo           *TradingRewardCampaignInfo
	// the current and upcoming trading reward campaign pools
	TradingRewardPoolCampaignSchedule   []*CampaignRewardPool
	// the current and upcoming trading reward account points
	TradingRewardCampaignAccountPoints  []*TradingRewardCampaignAccountPoints
	// the current and upcoming trading reward campaign pending pools
	PendingTradingRewardPoolCampaignSchedule []*CampaignRewardPool
	// the pending trading reward account points
	PendingTradingRewardCampaignAccountPoints []*TradingRewardCampaignAccountPendingPoints
	// the fee discount schedule
	FeeDiscountSchedule                 *FeeDiscountSchedule
	// the cached fee discount account tiers with TTL
	FeeDiscountAccountTierTtl           []*FeeDiscountAccountTierTTL
	// the fee discount paid by accounts in all buckets
	FeeDiscountBucketFeesPaidAccounts   []*FeeDiscountBucketFeesPaidAccounts
	// sets the first fee cycle as finished
	IsFirstFeeCycleFinished             bool
}

Params

Params is a module-wide configuration that stores system parameters and defines overall functioning of the exchange module. This configuration is modifiable by governance using params update proposal natively supported by gov module.

It defines default fee objects to be used for spot and derivative markets and funding parameters for derivative markets and instant listing fees.

Protobuf interface for the exchange module params store.

type Params struct {
	// spot_market_instant_listing_fee defines the expedited fee in INJ required to create a spot market by bypassing governance
	SpotMarketInstantListingFee types.Coin
	// derivative_market_instant_listing_fee defines the expedited fee in INJ required to create a derivative market by bypassing governance
	DerivativeMarketInstantListingFee types.Coin
	// default_spot_maker_fee defines the default exchange trade fee for makers on a spot market
	DefaultSpotMakerFeeRate math.LegacyDec
	// default_spot_taker_fee_rate defines the default exchange trade fee rate for takers on a new spot market
	DefaultSpotTakerFeeRate math.LegacyDec
	// default_derivative_maker_fee defines the default exchange trade fee for makers on a new derivative market
	DefaultDerivativeMakerFeeRate math.LegacyDec
	// default_derivative_taker_fee defines the default exchange trade fee for takers on a new derivative market
	DefaultDerivativeTakerFeeRate math.LegacyDec
	// default_initial_margin_ratio defines the default initial margin ratio on a new derivative market
	DefaultInitialMarginRatio math.LegacyDec
	// default_maintenance_margin_ratio defines the default maintenance margin ratio on a new derivative market
	DefaultMaintenanceMarginRatio math.LegacyDec
	// default_funding_interval defines the default funding interval on a derivative market
	DefaultFundingInterval int64
	// funding_multiple defines the timestamp multiple that the funding timestamp should be a multiple of
	FundingMultiple int64
	// relayer_fee_share_rate defines the trade fee share percentage that goes to relayers
	RelayerFeeShareRate math.LegacyDec
	// default_hourly_funding_rate_cap defines the default maximum absolute value of the hourly funding rate
	DefaultHourlyFundingRateCap math.LegacyDec
	// hourly_interest_rate defines the hourly interest rate
	DefaultHourlyInterestRate math.LegacyDec
	// max_derivative_order_side_count defines the maximum number of derivative active orders a subaccount can have for a given orderbook side
	MaxDerivativeOrderSideCount uint32
	// inj_reward_staked_requirement_threshold defines the threshold on INJ rewards after which one also needs staked INJ to receive more
	InjRewardStakedRequirementThreshold github_com_cosmos_cosmos_sdk_types.Int
	// the trading_rewards_vesting_duration defines the vesting times for trading rewards
	TradingRewardsVestingDuration int64
}

Balance

Balance is to manage balances of accounts. The module is storing the whole balance in the module account, while the balance of each account is managed just as a record.

The Balance object is stored by subaccount_id and denom.

message Balance {
	SubaccountId string
	Denom        string
	Deposits     *Deposit
}

// An subaccount's deposit for a given base currency
type Deposit struct {
	AvailableBalance math.LegacyDec
	TotalBalance     math.LegacyDec
}

type SubaccountDeposit {
	SubaccountId []byte
	Deposit      *Deposit
}

SubaccountNonce

SubaccountNonce is used to express unique order hashes.

type SubaccountNonce struct {
	SubaccountId         string
	SubaccountTradeNonce SubaccountTradeNonce
}

Order

There are a number of structures used to store the orders into the store.

type OrderInfo struct {
	// bytes32 subaccount ID that created the order
	SubaccountId string
	// address fee_recipient address that will receive fees for the order
	FeeRecipient string
	// price of the order
	Price math.LegacyDec
	// quantity of the order
	Quantity math.LegacyDec
}

type SubaccountOrderbookMetadata struct {
	VanillaLimitOrderCount    uint32
	ReduceOnlyLimitOrderCount uint32
	// AggregateReduceOnlyQuantity is the aggregate fillable quantity of the subaccount's reduce-only limit orders in the given direction.
	AggregateReduceOnlyQuantity math.LegacyDec
	// AggregateVanillaQuantity is the aggregate fillable quantity of the subaccount's vanilla limit orders in the given direction.
	AggregateVanillaQuantity math.LegacyDec
}

type SubaccountOrder struct {
	// price of the order
	Price math.LegacyDec
	// the amount of the quantity remaining fillable
	Quantity     math.LegacyDec
	IsReduceOnly bool
    Cid          string
}

type MarketOrderIndicator struct {
	// market_id represents the unique ID of the market
	MarketId string
	IsBuy    bool
}

SpotMarket

SpotMarket is the structure to store all the required information and state for a spot market. Spot markets are stored by hash of the market to query the market efficiently.

// An object describing trade pair of two assets.
type SpotMarket struct {
	// A name of the pair in format AAA/BBB, where AAA is base asset, BBB is quote asset.
	Ticker string
	// Coin denom used for the base asset
	BaseDenom string
	// Coin used for the quote asset
	QuoteDenom string
	// maker_fee_rate defines the fee percentage makers pay when trading
	MakerFeeRate math.LegacyDec
	// taker_fee_rate defines the fee percentage takers pay when trading
	TakerFeeRate math.LegacyDec
	// relayer_fee_share_rate defines the percentage of the transaction fee shared with the relayer in a derivative market
	RelayerFeeShareRate math.LegacyDec
	// Unique market ID.
	MarketId string
	// Status of the market
	Status MarketStatus
	// min_price_tick_size defines the minimum tick size that the price required for orders in the market
	MinPriceTickSize math.LegacyDec
	// min_quantity_tick_size defines the minimum tick size of the quantity required for orders in the market
	MinQuantityTickSize math.LegacyDec
}

SpotOrderBook

SpotOrderBook is a structure to store spot limit orders for a specific market. Two objects are created, one for buy orders and one for sell orders.

// Spot Exchange Limit Orderbook
type SpotOrderBook struct {
	MarketId  string
	IsBuySide bool
	Orders    []*SpotLimitOrder
}

type SpotOrder struct {
	// market_id represents the unique ID of the market
	MarketId string
	// order_info contains the information of the order
	OrderInfo OrderInfo
	// order types
	OrderType OrderType
	// trigger_price is the trigger price used by stop/take orders
	TriggerPrice *math.LegacyDec
}

// A valid Spot limit order with Metadata.
type SpotLimitOrder struct {
	// order_info contains the information of the order
	OrderInfo OrderInfo
	// order types
	OrderType OrderType
	// the amount of the quantity remaining fillable
	Fillable math.LegacyDec
	// trigger_price is the trigger price used by stop/take orders
	TriggerPrice *math.LegacyDec
	OrderHash    []byte
}

// A valid Spot market order with Metadata.
type SpotMarketOrder struct {
	// order_info contains the information of the order
	OrderInfo   OrderInfo
	BalanceHold math.LegacyDec
	OrderHash   []byte
}

DerivativeMarket

DerivativeMarket is the structure to store all the required information and state for a derivative market. Derivative markets are stored by hash of the market to query the market efficiently.

// An object describing a derivative market in the Injective Futures Protocol.
type DerivativeMarket struct {
	// Ticker for the derivative contract.
	Ticker string
	// Oracle base currency
	OracleBase string
	// Oracle quote currency
	OracleQuote string
	// Oracle type
	OracleType types1.OracleType
	// Scale factor for oracle prices.
	OracleScaleFactor uint32
	// Address of the quote currency denomination for the derivative contract
	QuoteDenom string
	// Unique market ID.
	MarketId string
	// initial_margin_ratio defines the initial margin ratio of a derivative market
	InitialMarginRatio math.LegacyDec
	// maintenance_margin_ratio defines the maintenance margin ratio of a derivative market
	MaintenanceMarginRatio math.LegacyDec
	// maker_fee_rate defines the maker fee rate of a derivative market
	MakerFeeRate math.LegacyDec
	// taker_fee_rate defines the taker fee rate of a derivative market
	TakerFeeRate math.LegacyDec
	// relayer_fee_share_rate defines the percentage of the transaction fee shared with the relayer in a derivative market
	RelayerFeeShareRate math.LegacyDec
	// true if the market is a perpetual market. false if the market is an expiry futures market
	IsPerpetual bool
	// Status of the market
	Status MarketStatus
	// min_price_tick_size defines the minimum tick size that the price and margin required for orders in the market
	MinPriceTickSize math.LegacyDec
	// min_quantity_tick_size defines the minimum tick size of the quantity required for orders in the market
	MinQuantityTickSize math.LegacyDec
}

DerivativeOrderBook

DerivativeOrderBook is a structure to store derivative limit orders for a specific market. Two objects are created, one for buy orders and one for sell orders.

// Spot Exchange Limit Orderbook
type DerivativeOrderBook struct {
	MarketId  string
	IsBuySide bool
	Orders    []*DerivativeLimitOrder
}

type DerivativeOrder struct {
	// market_id represents the unique ID of the market
	MarketId string
	// order_info contains the information of the order
	OrderInfo OrderInfo
	// order types
	OrderType OrderType
	// margin is the margin used by the limit order
	Margin math.LegacyDec
	// trigger_price is the trigger price used by stop/take orders
	TriggerPrice *math.LegacyDec
}

// A valid Derivative limit order with Metadata.
type DerivativeLimitOrder struct {
	// order_info contains the information of the order
	OrderInfo OrderInfo
	// order types
	OrderType OrderType
	// margin is the margin used by the limit order
	Margin math.LegacyDec
	// the amount of the quantity remaining fillable
	Fillable math.LegacyDec
	// trigger_price is the trigger price used by stop/take orders
	TriggerPrice *math.LegacyDec
	OrderHash    []byte
}

// A valid Derivative market order with Metadata.
type DerivativeMarketOrder struct {
	// order_info contains the information of the order
	OrderInfo OrderInfo
	// order types
	OrderType  OrderType
	Margin     math.LegacyDec
	MarginHold math.LegacyDec
	// trigger_price is the trigger price used by stop/take orders
	TriggerPrice *math.LegacyDec
	OrderHash    []byte
}

type DerivativeMarketOrderCancel struct {
	MarketOrder    *DerivativeMarketOrder
	CancelQuantity math.LegacyDec
}

DerivativePosition

DerivativePosition is a structure to store derivative positions for a subaccount on a specific market.

Note: Derivative orders represent intent while positions represent possession.

type Position struct {
	IsLong                 bool
	Quantity               math.LegacyDec
	EntryPrice             math.LegacyDec
	Margin                 math.LegacyDec
	CumulativeFundingEntry math.LegacyDec
}

type PositionDelta struct {
	IsLong            bool
	ExecutionQuantity math.LegacyDec
	ExecutionMargin   math.LegacyDec
	ExecutionPrice    math.LegacyDec
}

type DerivativePosition struct {
	SubaccountId string
	MarketId     string
	Position     *Position
}

type SubaccountPosition struct {
	Position     *Position
	SubaccountId []byte
}

ExpiryFuturesMarketInfo

ExpiryFuturesMarketInfo is a structure to keep the information of expiry futures market. It is stored by the id of the market.

type ExpiryFuturesMarketInfo struct {
	// market ID.
	MarketId string
	// expiration_timestamp defines the expiration time for a time expiry futures market.
	ExpirationTimestamp int64
	// expiration_twap_start_timestamp defines the start time of the TWAP calculation window
	TwapStartTimestamp int64
	// expiration_twap_start_price_cumulative defines the cumulative price for the start of the TWAP window
	ExpirationTwapStartPriceCumulative math.LegacyDec
	// settlement_price defines the settlement price for a time expiry futures market.
	SettlementPrice math.LegacyDec
}

PerpetualMarketInfo

PerpetualMarketInfo is a structure to keep the information of perpetual market.

type PerpetualMarketInfo struct {
	// market ID.
	MarketId string
	// hourly_funding_rate_cap defines the maximum absolute value of the hourly funding rate
	HourlyFundingRateCap math.LegacyDec
	// hourly_interest_rate defines the hourly interest rate
	HourlyInterestRate math.LegacyDec
	// next_funding_timestamp defines the next funding timestamp in seconds of a perpetual market
	NextFundingTimestamp int64
	// funding_interval defines the next funding interval in seconds of a perpetual market.
	FundingInterval int64
}

PerpetualMarketFunding

PerpetualMarketFunding is a structure to manage perpetual market fundings info.

type PerpetualMarketFunding struct {
	// cumulative_funding defines the cumulative funding of a perpetual market.
	CumulativeFunding math.LegacyDec
	// cumulative_price defines the cumulative price for the current hour up to the last timestamp
	CumulativePrice math.LegacyDec
	LastTimestamp   int64
}

Trading Rewards

CampaignRewardPool

CampaignRewardPool is a structure to be used for getting the upcoming trading reward pools.

type CampaignRewardPool struct {
	StartTimestamp int64
	// max_campaign_rewards are the maximum reward amounts to be disbursed at the end of the campaign
	MaxCampaignRewards sdk.Coins
}

TradingRewardCampaignInfo

TradingRewardCampaignInfo is a structure to be used for getting the trading reward campaign info.

type TradingRewardCampaignInfo struct {
	// number of seconds of the duration of each campaign
	CampaignDurationSeconds int64
	// the trading fee quote denoms which will be counted for the rewards
	QuoteDenoms []string
	// the optional boost info for markets
	TradingRewardBoostInfo *TradingRewardCampaignBoostInfo
	// the marketIDs which are disqualified from being rewarded
	DisqualifiedMarketIds []string
}

type TradingRewardCampaignBoostInfo struct {
	BoostedSpotMarketIds        []string
	SpotMarketMultipliers       []PointsMultiplier
	BoostedDerivativeMarketIds  []string
	DerivativeMarketMultipliers []PointsMultiplier
}

type PointsMultiplier struct {
	MakerPointsMultiplier math.LegacyDec
	TakerPointsMultiplier math.LegacyDec
}

FeeDiscountProposal

FeeDiscountProposal is a structure to be used for proposing a new fee discount schedule and durations.

type FeeDiscountSchedule struct {
	// the bucket count, e.g., 30
	BucketCount    uint64
	// the bucket duration, e.g., 1 day
	BucketDuration int64
	// the trading fee quote denoms which will be counted for the fee paid contribution
	QuoteDenoms []string
	// the fee discount tiers
	TierInfos []*FeeDiscountTierInfo
	// the marketIDs which are disqualified from contributing to the fee paid amount
	DisqualifiedMarketIds []string
}

type FeeDiscountTierInfo struct {
  MakerDiscountRate math.LegacyDec
  TakerDiscountRate math.LegacyDec
  StakedAmount      math.Int
  FeePaidAmount     math.LegacyDec
}

DerivativeMarketSettlementInfo

DerivativeMarketSettlementInfo is a structure to be used for the scheduled markets for settlement.

type DerivativeMarketSettlementInfo struct {
	// market ID.
	MarketId string
	// settlement_price defines the settlement price
	SettlementPrice math.LegacyDec
	// starting_deficit defines starting deficit
	StartingDeficit math.LegacyDec
}

TradeLog

Trade logs are emitted in events to track the trading history.

type TradeLog struct {
	Quantity math.LegacyDec
	Price    math.LegacyDec
	// bytes32 subaccount ID that executed the trade
	SubaccountId []byte
	Fee          math.LegacyDec
	OrderHash    []byte
}

type DerivativeTradeLog struct {
	SubaccountId  []byte
	PositionDelta *PositionDelta
	Payout        math.LegacyDec
	Fee           math.LegacyDec
	OrderHash     []byte
}

Enums

Enums are used to describe the order types, execution types and market status.

enum OrderType {
  UNSPECIFIED = 0 [(gogoproto.enumvalue_customname) = "UNSPECIFIED"];
  BUY = 1 [(gogoproto.enumvalue_customname) = "BUY"];
  SELL = 2 [(gogoproto.enumvalue_customname) = "SELL"];
  STOP_BUY = 3 [(gogoproto.enumvalue_customname) = "STOP_BUY"];
  STOP_SELL = 4 [(gogoproto.enumvalue_customname) = "STOP_SELL"];
  TAKE_BUY = 5 [(gogoproto.enumvalue_customname) = "TAKE_BUY"];
  TAKE_SELL = 6 [(gogoproto.enumvalue_customname) = "TAKE_SELL"];
  BUY_PO = 7 [(gogoproto.enumvalue_customname) = "BUY_PO"];
  SELL_PO = 8 [(gogoproto.enumvalue_customname) = "SELL_PO"];
  BUY_ATOMIC = 9 [ (gogoproto.enumvalue_customname) = "BUY_ATOMIC" ];
  SELL_ATOMIC = 10 [ (gogoproto.enumvalue_customname) = "SELL_ATOMIC" ];
}

enum MarketStatus {
  Unspecified = 0;
  Active = 1;
  Paused = 2;
  Suspended = 3;
  Demolished = 4;
  Expired = 5;
}

enum ExecutionType {
  UnspecifiedExecutionType = 0;
  Market = 1;
  LimitFill = 2;
  LimitMatchRestingOrder = 3;
  LimitMatchNewOrder = 4;
}