Hey I’m Walid (Owl on ct), and I am working on a hybrid exchange model and seek to deploy it for Optimism.
Inspired from the Off-chain order-book based perps DEX mission by the Optimism, I have started working on a similar model, just for spot instead of perps.
1- core model is a smart contract based orders, orders are made and fulfilled autonomously, supporting any ERC20 token, users can create an order based on their specified parameters :
(
Token1(have), Token2(want), Amount1(have), Amount2(want), deadline, partial fill, user2(0 if public/address of the other party if private)
)
the smart contracts simply handle the creation of orders, and the fulfillment of orders, from there, the users are free to use only the smart contracts in the case they have the matching order id for the order they wish to full-fill.
2- the remaining part of the model would be built on a server (ideally in Go Lang or similar) to fetch order parameters (using The graph or similar services), to construct an order-book out of them, making an off-chain matching service similar to the one requested by optimism (except it’s spot rather then perps), fetching orders by id to be fulfilled by users.
3- the last part of the model would be the front-end, this is still a ‘WIP’, and ideally once we reach beta stage, we would be able to hire someone to implement a front-end that is user friendly, and works well with user feedback.
The order-book model is still very early on, smart contracts part is almost done, and ideally soon will be public for testing and feedback for potential improvements.
as of week 2, work has began on the off-chain matching engine, order contracts are almost done, some minor optimizations are in order, and will be public soon