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Orderbook

What is an Orderbook?​

The orderbook is the foundational data structure that enables trading on Alpha Sec.. It maintains a real-time record of all open buy and sell orders for each supported trading pair (e.g., KAIA/USDT), fully on-chain.

Each order includes:

  • Price: The target execution rate
  • Amount: The order size denominated in base asset
  • Direction: Bid (buy) or Ask (sell)

Alpha Sec.'s orderbook replicates the familiarity and precision of centralized exchanges, while delivering full on-chain verifiability and transparency.

Key Concepts​

Bid & Ask

  • Bids: Offers to buy at a specified price
  • Asks: Offers to sell at a specified price The orderbook is price-sorted, with the highest bids and lowest asks defining the market spread.

Price Levels

  • Orders at the same price are aggregated into a single price level
  • Each level displays the total liquidity available at that price point

Live Updates

  • The orderbook updates in real time as orders are placed, filled, or canceled
  • All changes are reflected in the Optimistic Rollup Layer 2 state and anchored to Kaia L1 for auditability

On-Chain Transparency​

Unlike many DEXs that operate using off-chain matching or opaque orderflow, Alpha Sec.'s orderbook is:

  • Fully on-chain
  • Publicly queryable
  • Cryptographically verifiable

Every order and update is processed through Alpha Sec.'s execution layer, providing deterministic behavior with zero MEV leakage or hidden flows.

Designed for Spot Trading​

Alpha Sec. is designed exclusively for spot markets. There are no perpetuals, leverage, or synthetic instruments.

This focus enables:

  • A clean, latency-optimized market structure
  • Reliable execution for high-frequency and algorithmic traders
  • Efficient price discovery within the Kaia ecosystem