# MOV Magnet Maker Guide

# MOV Market Maker Architect

# MOV Market Maker Mechanism

MOV Server only facilitates the conversion between orders and transactions. In fact all orders are submitted with the user's signature and are eventually matched by the smart contract. The API offered by MOV is nearly identical to centralized exchanges, and its API experience at the time of trading is not different from that of centralized exchanges. But we will illustrate some differences below.

# Differences between MOV and centralized exchanges

# Distinguished matching method. Package and match by block. Order price is the deal price.

Because matching is done on the blockchain, there are no makers and takers. Order price turns out to be the deal price. For market makers, orders will be packaged and matched in the next block if there are matching orders, otherwise orders will stay on the chain until the orders are cancelled or matching orders appear. Importantly! Due to current design of matching engine, two matched orders ( 5.00 , buy ), (4.00, sell) will reach a deal at the original price ( 5.00 , buy ), (4.00, sell) and the price’s difference will be rewarded to the packaging node. Therefore, please note: do not list a market price order because the order price might be the deal price!

# Transaction is trading

It can be found that all transactions manifest as transactions among several accounts on the blockchain, and fees are sent in real time to the node servers which packaged transactions. So if you want to look up orders in depth, you can look up UTXO and find out who traded the UTXO.

# Knowing private key is able to steal all your account balance

A point worth noting is that private key is the highest right for users. So anyone knowing your private key can steal all your account balance and this is irreversible! Your assets can not be found after being stolen.

In the process of initiating orders, request of orders are sent and servers send back corresponding UTXO that needs signature, and then the signed order will be sent. If the UTXO that needs signature repeats, the order might fail. As a result, we suggest you to execute one transaction in one wallet and use multiple wallets to initiate multiple transactions.

# Third-party libraries relied upon by MOV and preparation

# Install pybtm library

pip3 install pybtm

# Get guid and private key through mnemonic words

Example: https://github.com/Bytom/movApiDoc/blob/master/mov_spot_api.py

api = MovApi(guid="", secret_key="")
config = api.get_config_from_mnemonic("stereo nominee miss click sock argue valid hole jelly vessel payment fork")

# API reference

For detailed API, please refer to:https://developer.bymov.io/guide/mov_spot_api.html


There are some frequent questiones asked by liquidity provider.

Last Updated: 4/14/2020, 7:04:23 PM