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What is a decentralised order book?

In a decentralised order book, users can place buy or sell orders for a particular asset at a specific price. These orders are recorded on the blockchain and stored in the order book. When a match is found between a buy and sell order, the trade is executed, and the asset is transferred from the seller to the buyer.

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What are the benefits of using a decentralised order book?

There are several benefits to using a decentralised order book, including:Increased security: Because a single entity does not control a decentralised order book, it is less vulnerable to hacking or tampering.Greater transparency: All orders and trades are recorded on the blockchain, making it easy to see the entire history of the order book.Reduced fees: Because decentralised order books do not require intermediaries to facilitate trades, costs are typically lower than those of traditional exchanges.

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What are the risks of using a decentralised order book?

There are also risks to using a decentralised order book, including:Volatility: The prices of assets on a decentralised order book can be more volatile than those on traditional exchanges, as there is often less liquidity.

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Can I place both buy and sell orders on a decentralised order book?

You can place buy and sell orders on a decentralised order book. When you place a buy order, you indicate that you want to purchase a particular asset at a specific price. When you place a sell order, you say you want to sell an asset at a particular price. If a match is found between a buy and sell order, the trade will be executed, and the purchase will be transferred from the seller to the buyer.

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Can I cancel an order on a decentralised order book?

Yes you can cancel an order at any time in the “My Wallet” section.

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What are the fees?

Maker fees are 0.2%.Taker fees are 0.5%.

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What’s the difference between Maker and Taker ?

A maker is somebody who creates an Order first and it sits in the book. They can be a Buyer or a Seller. A taker is the person who matches with the maker and therefore takes value out of the Orderbook.You can think of a Maker as somebody providing liquidity, therefore they usually get a lower fee.

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Why are the fees always 0.5% in the UI?

We label it as 0.5% in the UI because we can’t be sure before a trade which one you will get. Somebody might be creating an opposite order just before you submit your transactions.You can guarantee you are a Maker by creating your order far away from the current price.

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How do I know the price of an asset on a decentralised order book?

The supply and demand for that asset determine the purchase price on a decentralised order book. The price will tend to increase when there are more buyers than sellers. When there are more sellers than buyers, the price will tend to decrease.

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When I switch to a token, it does not set a suggested price automatically?

The price is just taken from the last completed trade. If there are no completed trades then there is no price.

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Does Lightbeam use slippage like AMMs? How are prices set?

There is no slippage mechanism in Lightbeam because it uses an orderbook. Prices remain stable until an order is filled, whereas AMMs adjust prices automatically along a curve. Users can set their own prices via limit orders or use a market order (swap) to trade immediately.

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What happens if there are no matching orders?

Trading pauses when there are no matching orders, unlike an AMM where trades always execute against the curve. However, Lightbeam offers a “virtual Liquidity Pool” on the orderbook that allows users to provide liquidity in a way similar to an AMM.

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What will initial trading pairs be?

Lightbeam plans to create liquidity pools for existing Keeta tokens, including KTA, USDC, EURC, and cbBTC.

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How are trades handled on Lightbeam before Keeta’s smart contracts are live?

Lightbeam uses native atomic swaps instead of smart contracts. Trades happen directly between users’ wallets, similar to Hyperliquid’s system native layer. This is explained in Lightbeam’s article https://lightbeam.finance/articles/inside-keetas-atomic-swap-orderbook. Once Smart contracts go live on Keeta, Lightbeam will also integrate them into the matching engine.

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Where is liquidity held? Is there a separate LP wallet?

Unlike traditional AMMs, Lightbeam’s liquidity consists of chained atomic swaps. Tokens never leave the user’s wallet, so there’s no central LP wallet. Liquidity is provided through a virtual orderbook pool built from these atomic swaps.

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How does Lightbeam compare to an AMM?

An AMM is a simple, suited mostly for meme coins. Lightbeam’s orderbook design aims for better trading efficiency and professional trading features. However we offer an AMM experience for casual traders.

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How will Lightbeam build volume on Keeta?

The team believes Lightbeam will be the first true DEX on Keeta due to the technical difficulty of building orderbook systems without native orders or smart contracts. By the time Keeta releases these capabilities, Lightbeam intends to have most of the liquidity, the best user experience, and more advanced trading features.

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Can we add existing tokens to trade on Lightbeam?

Yes any Keeta token will be tradable on Lightbeam.

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Will the $LEAF token use this system?

For the initial token launch, $LEAF will not immediately use the orderbook pool. After launch, liquidity will be supplied to a pool created from the funds raised.

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How long will the token sale be open, and what happens afterward?

The sale will run for seven days (unless it fills early). Once it ends, the $LEAF token will launch and the DEX will go live.

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Why is the token called LEAF?

Names like “BEAM” and “LIGHT” are already common. The team chose “LEAF” because it sounds distinctive and the logo stands out.

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Who is behind Lightbeam?

The team consists of three engineers, including Splinter and Smasher, who previously developed Nightshade DEX on the Alephium blockchain.

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How did Nightshade perform and what are plans for Keeta?

Nightshade demonstrated the concept on Alephium, though Alephium’s user base is small. Lightbeam aims to be the main DEX on Keeta, leveraging Keeta’s native KYC and regulatory framework to attract institutional assets.

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What is the growth strategy for Lightbeam?

The immediate plan is a gamified LEAF rewards program. Season 1 begins on November 26 and rewards users for trading on Lightbeam. Longer term, the team plans to grow by offering advanced orderbook features while appealing to both casual and professional traders.

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Is there a beta or testnet?

Yes. Lightbeam is live on Keeta’s testnet, and the Lightbeam Wallet is open source so users don’t need to blindly trust the dapp.