Sneak Peak Into The BitOrb Exchange

5 mins read

WHAT CAN THE EXCHANGE DO?

BitOrb is a cryptocurrency derivatives exchange that offers Bitcoin and Ethereum perpetual contracts that are bought and sold in Bitcoin. BitOrb users will be able to trade these contracts with upto 100x leverage.

BitOrb is built from the ground up using a modular software design, utilising the best of trading practices and technologies. Architected using a high-performance, low latency technology stack that delivers microsecond performance able to handle throughput of more than 10,000 orders per second on a single server. BitOrb is built to scale and handle the high demands of an online derivatives exchange. This article will explore how BitOrb’s derivitaves is better

THE PRICING STRUCTURE

Orbyt Token holders who hold a minimum of 100 Orbyt Tokens in their designated Orbyt wallet and have passed our KYC verification will gain the “Preferred Status” — This allows users roughly upto a 30% discount on taker fee, making it one of the most competitive taker fee available in the market.

Preferred Status
Maker fee: +0.025%
Taker fee: -0.0525%

Normal fee
Maker fee: +0.025%
Taker fee: -0.075%

HOW THE DIFFERENT ENGINES ON BITORB WORK

The back-end servers are where the different engines of BitOrb run. Key processes are run entirely in memory to ensure the fastest possible executions without going to disk.

First look at the exchange interface and the order form
  • Risk Engine 
    The configurable risk engine manages and audits every position on the exchange, providing visibility of all positions on BitOrb at any point in time, with the ability to suspend trading if required.

 

  • Liquidation Engine
    With a configurable liquidation mechanism to handle any liquidation event, and management of margin requirements for the entire platform.

 

  • Matching Engine
    BitOrb’s matching engine is built on a low latency high performance stack that delivers micro-second latencies and an expected throughput of ten thousand orders per second to ensure our users will always have access to the system.

 

  • Order Book
    The configurable order book can build market depth ladders, span multiple cryptocurrencies, and has the capabilities to handle large volumes of inbound and outbound data

WHAT ELSE IS NEW ON BITORB?

The Orchestrator interface displayed in BitOrb’s night mode.
Simplified Version of the BitOrb Exchange
  1. The Orchestrator — is an easy to use, automated trading strategy maker that is built into BitOrb that assists users in creating automated executable trading strategies. These strategies can be used to take profits and/or to limit losses or even to layer in sophisticated strategies; such as setting trigger points based on common trading indicators or setting cross product orders.
  2. Simplified version — While every user and trader has their own personal individual preferences, we are enabling two basic modes for our exchange to cater for three broad categories of users based on their trading experience.

by

Hoong-Teng Lim

30th September 2019

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