First-Principle Orderbook Design

CLOBs for building World Market Pricing Engine

Traditional CLOBs

World Market CLOBs: Introducing DMM

Introducing the DMM Module — Designated Market Maker Vault Module. Collateralized by any on-chain asset, not just stablecoins, it enables the trading of Asset-Margined Perps. LPs supply assets, while DMMs implement market-making strategies to create order books and take performance fees. LPs have the power to vote on which markets to list, ensuring true governance while DMMs offer feedback and perform risk management.

For example: With World Market, we can create our own CLOB markets for futures, powered by BTC — reminiscent of BitMEX’s pioneering approach. Additionally, launching BTC-powered spot CLOB markets powered by World Market can accelerate the growth of BTCFi.