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Update spec with locking/freezing/whitelisting/clawback. #1017

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merged 2 commits into from
Nov 6, 2024
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Update spec with locking/freezing/whitelisting/clawback. #1017

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a9767b0
Update spec with locking/freezing/whitelisting/clawback.
dzmitryhil Nov 5, 2024
9dafe70
Merge branch 'master' into dzmitryhil/update-spec
dzmitryhil Nov 5, 2024
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23 changes: 12 additions & 11 deletions x/dex/spec/README.md
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Original file line number Diff line number Diff line change
Expand Up @@ -176,7 +176,7 @@ Examples:

* A price like 45000000000000 can be represented as 45e12.
* A price like 0.000123 can be represented as 123e-6.
* A price like 70001 can be represented as is.
* A price like 70001 can be represented as is.
* Min value: 1e-100
* Max value: 9999999999999999999e100

Expand All @@ -190,14 +190,14 @@ Examples:
* 1e01 is invalid, must be 1e1
* 1e+1 is invalid, must be 1e1

### Balance locking
### Balance locking/freezing/whitelisting/clawback.

When a user places an order we lock the coins in the assetft (similar to freezing), both assetft and native coins.
At the time of the placement we enforce all assetft rules. For extensions, we expect a specific interface to be
implemented in the extensions smart contract, which let the DEX understand whether an order placement is allowed or not.
If such an interface is not implemented we don't allow the order placement.
If, at the time of matching, the assetft rules for the maker orders are changed, the orders will be still executed with
the amounts in the order book.
When a user places an order we lock the coins in the assetft (similar to freezing), both assetft and native coins. Also,
we reserve the expected receiving amount if whitelisting for the token the user expects to receive is enabled.
At the time of the placement we enforce all assetft rules. If, at the time of matching, the assetft rules for the
maker orders are changed, the orders will be still executed with the amounts in the order book. That's why to avoid
unexpected behavior with the `freezing/whitelisting/clawback` the token admin should [cancel](#Order-cancellation) users
orders before update the rules.

### Time in force

Expand Down Expand Up @@ -244,9 +244,10 @@ or the token admin. Check the [price tick and precision](#price-tick-and-precisi

### Order cancellation

The token admin or gov can cancel user orders within the system. It grants specific administrative or
governance roles the power to manage and oversee active orders, providing a safeguard against potential issues
such as erroneous trades, malicious activity, or market manipulation.
The users can cancel their orders within the DEX. Or The token admin or gov can cancel user orders within the system.
It grants specific administrative or governance roles the power to manage and oversee active orders, providing a
safeguard against potential issues such as erroneous trades, malicious activity, or market manipulation. For the token
admin to cancel the user's orders, the `dex_order_cancellation` feature must be enabled.

### Restricted trade

Expand Down