Order Book DEX Standard with Two Phase Withdrawal

The Order Book DEX Standard is a proposed set of interface specifications that define a decentralized exchange protocol for trading assets using order books. This standard provides a set of functions that allow users to deposit, withdraw, and trade assets on a decentralized exchange. Additionally, it innovatively proposes a two-phase withdrawal scheme to ensure the asset security of both users and the exchange, addressing users’ trust issues with the exchange.

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That’s a very useful protocol, it will help a lot in protecting user assets.

Blockchain-driven finance requires us to continuously iterate protocols and solidify good financial protocols. The 1:1 reserve ratio and two-phase withdrawal protocol can ensure the security of assets for both users and project parties. It is a good solution for order book-based DEX built on Layer 2 technology.