Aptos-based DEX Econia, laying the cornerstone for the next wave of DeFi innovation

The industry’s quest for centralized liquidity in DeFi has never stopped. Builders have been working on DEXs since their inception, constantly looking for new ways to maximize their efficiency. However, most innovations end up exposing users to the risk of MEV or impermanent loss.

A solution called Econia was born and created its own protocol that allows all users to trade digital assets with others at any price through an efficient order book with a TPS of up to thousands. Econia aims to aggregate liquidity from around the globe into a single digital marketplace and reduce the potential risks to users.

Basic Introduction

Econia is an on-chain order book designed for high-performance atomic settlement, designed to provide permissionless market access by leveraging Aptos’ Optimistic Concurrency to provide a seamless and efficient trading experience. Econia is committed to building a core backend system for DeFi, with the goal of bringing liquidity from around the world into a single digital marketplace.

Unlike AMMs, this order book provides a trading experience similar to a traditional CEX (where users can trade permissionlessly through a self-custody wallet). Econia combines the advantages of CEXs (efficient price discovery and minimal slippage) with the strengths of DEXs (decentralization, permissionlessness, and user-managed assets).

Econia’s matching engine is atomic, which means it can complete all the steps required to settle market orders in a single transaction. For example, when a user decides to buy or sell a digital asset at the best price offered by the market,

Econia matches its orders with limit orders (sell or buy) from other market participants, updates positions on the order book, and passes assets between the parties to the transaction, all in a single transaction.

What makes Econia special

Econia acts as an on-chain order book that aggregates liquidity from different sources and allows users to easily access liquidity pools through a variety of interfaces. Any market maker looking to make a market in this ecosystem can integrate seamlessly without the control of a centralized entity.

Econia supports a range of trading products such as spot, perpetual contracts, and more. As an open-source project, developers can also easily develop and extend their own products based on Econia, such as margin trading, integrated NFTs, Flatcoin, and more.

Highly free scalability

Econia provides a feature-rich suite of APIs on which any developer can build their own projects. Its infrastructure is configurable, scalable, and completely permissionless, natively supporting the growing Aptos DeFi ecosystem at the base layer.

Econia’s mission is to be the cornerstone of the next wave of DeFi innovation – to build a comprehensive settlement platform for a wide range of digital assets.

Summary

After more than a year of development and iteration, the open-source Econia protocol has been independently audited by Ottersec, Zellic, and Halborn three times and is now live on mainnet, and DApp integrators can now begin connecting to Econia’s matching engine and infrastructure.

DeFi developers will also have access to the client libraries, SDKs, and Data Service Stack that Econia Labs is building to simplify integration. All in all, Econia Labs is actively building tools and infrastructure and working tirelessly to become the order book of choice for DeFi.