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  1. Concepts

SDEX

PreviousRouterNextAggregator

Last updated 8 months ago

What is Stellar SDEX, what is the difference with Soroswap.Finance and why it is not aggregated by the Soroswap Aggregator

What is Stellar SDEX?

(Stellar Decentralized Exchange) is the native decentralized exchange of the Stellar network. It allows users to trade assets directly on the Stellar blockchain through a system of order books. Here’s how it operates:

  • Order Books: Stellar SDEX uses order books to facilitate trades. Users place buy and sell offers in the order book, which are matched based on price and time priority.

  • Order Types: Users can create various types of orders, such as market or limit orders. Orders are automatically matched against existing orders in the book.

  • Asset Exchange: Trades are executed by matching buy and sell orders within the order books. Assets are exchanged directly between users without needing an intermediary.

  • Path Payments: If there is no direct order for an asset pair, Stellar allows path payments to find the best route through multiple assets to complete the trade.

Feature
Stellar SDEX
Soroswap.Finance

Exchange Model

(buy and sell orders)

Pricing Mechanism

Based on matching orders in the order book

Based on mathematical formulas

Liquidity Provision

Users place orders in the order book

Users deposit assets into liquidity pools

Transaction Execution

Executes orders directly based on price-time priority

Executes transactions through AMM, adjusting prices according to reserves

Order Types

Limit and passive orders

Interactions with AMM, no traditional limit orders

Aggregator Integration

Generally not integrated into AMM aggregators

Integrated into

Stellar SDEX
Order book
Automated Market Makers (AMMs)
(e.g., x * y = k)
aggregators that support AMMs
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