Trade Lifecycle and Demo
A trade will typically go through the following steps:
A user (Taker) enters the “size” (how much they want to trade) and an asset (e.g. ETH). The size is denoted in USD.
Mauve will then fetch “bids” from a select group of Market Makers.
These will be presented to the user (ordered by price).
The Taker selects a Market Maker based on reputation / pricing. The price is not yet confirmed at this point.
The Taker will then need to escrow their side of the trade.
Once escrowed, the Taker is re-shown the price feed from their selected Maker.
The Taker confirms the price (or refund if the price they get is not satisfactory - e.g. if large swing in the market).
The Maker then has 24 hours to settle the trade to give them an opportunity to source liquidity. The Maker’s escrow contracts will be made available in a “Maker Portal” where they can view the escrow contracts waiting to be settled.
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