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.