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Module 3: The Private Order Book

ZendexOrderBookManager facilitates fully non-custodial, shielded limit orders through operator-assisted execution:

  1. Order Creation: The user submits a CreateOrderVerifier proof that nullifies their active balance commitment and emits a private Spot Commitment containing the order details (side, asset pair, price, amount) into the state tree.
  2. Batch Execution: The authorized ORDER_BOOK_OPERATOR_ROLE aggregates matching spot commitments off-chain, constructs an execution batch, and submits an ExecuteOrders proof on-chain.
  3. Settlement: The on-chain contract verifies the batch execution proof, updates TreeOperator with output commitments for both counterparties, and records protocol execution fees. The operator cannot redirect user funds or execute non-matching orders.
  4. Order Cancellation: The maker can cancel an active order at any time by submitting a RequestCancelOrderVerifier proof, releasing a refund commitment back to their private control.

Placing Orders as a User​

Place a buy or sell limit order at your price. It is filled when a matching order arrives. Like every private action, an order uses the full amount of the deposit you pick; to use only part of a deposit, Split it first (see Deposits Are Private Notes).