Skip to content

index.md

Latest commit

 

History

History
40 lines (29 loc) · 3.02 KB

index.md

File metadata and controls

40 lines (29 loc) · 3.02 KB
Raw

wallet-cli exchange

TRON's protocol-level Bancor exchange.

Pairs trade TRX against TRC10 — never TRC20 — and settle instantly against a bonding curve: no order book, no counterparty, no matching. Four properties differ from the AMMs most people are used to, and all four matter before you touch this group:

  • A pair is private to its creator. Only the account that created a pair can inject or withdraw its liquidity, and that binding cannot be transferred. There are no LP tokens and no outside liquidity providers.
  • Anyone can trade, though — trading is open even though liquidity is not.
  • The protocol charges no fee. trade, inject, and withdraw cost bandwidth only; the one charge is create, which burns getExchangeCreateFee.
  • Human amounts are scaled by node-supplied decimals. Every --amount / --amounts / --min-received is converted to base units using the TRC10 precision the node reports, so that value decides the quantity you sign. It is checked against the protocol range 0..6 and against the token id requested, but a wrong value inside that range cannot be caught locally. Use the --raw-* variants when the exact base-unit quantity matters — they are used verbatim.
  • TRX's token id on chain is the underscore _. Write TRX (any case) or an asset id; _ is accepted too. json shows what actually went on chain, so TRX appears there as "_".

Pricing follows the curve, not the ratio. The ratio of the two reserves is a marginal quote — true only for a trade of size zero. A real trade moves along the curve, and the larger it is relative to the reserves, the worse the price it gets. That gap is the slippage, which is why exchange trade always requires a floor (--min-received or --slippage), and why no command here prints a "price". To price a specific amount, run exchange trade --dry-run against the current reserves. Reserves are also capped by the chain parameter getExchangeBalanceLimit.

Tokens are named by id only in this group — TRX or a numeric asset id, never a token name. Pairs are written with a colon (--pair TRX:1000123, --amounts 10000:500000), and TRC10 names may legally contain colons, so allowing names would make --pair ambiguous. Resolve a name to its id with asset info <name>.

Synopsis

wallet-cli exchange COMMAND

Subcommands

Command Page Description
exchange create create.md Create a pair and seed both sides
exchange inject inject.md Add liquidity in proportion to reserves
exchange withdraw withdraw.md Take liquidity out in proportion to reserves
exchange trade trade.md Swap one side for the other
exchange show show.md One pair's creator, creation time, and reserves
exchange list list.md List every pair on chain

See also

asset · tx send · chain params