Welcome to the Eve Exchange knowledge base. Here, we'll cover everything you need to know about the Eve Exchange protocol and how it works, provide examples of different use cases for each feature & setting, and clarify all the important details like trading fees.
If you have just discovered us, please read through all the sections under the heading “Project Overview” so you can build a basic understanding of protocol before diving deeper into specific areas.
Thanks for being here, we hope you find value in what we have built!
What is Eve Exchange?
Eve Exchange is a unique decentralised trading protocol that facilitates non-custodial Spot and Options trading. Powered by smart contracts deployed on Polygon, it supports any Polygon asset and primarily integrates with MetaMask. Additional network and wallet support will be introduced in the near future.
The protocol was designed by experienced traders to address issues and inefficiencies associated with Spot trading on decentralised exchanges, particularly those relying on Automated Market Making (AMM) like Uniswap. Additionally, Eve Exchange offers users the ability to trade Put & Call Options.
Please note: "Eve" refers to the protocol itself, while "EVE" (in full capitals) refers to the native token.
The Features and Benefits
Smart Trades is a Spot trading tool that operates using single-sided liquidity. Users can create Limit orders with the option to utilise special conditions such as Dynamic pricing, set premiums, discounts, and even apply vesting schedules to their trades, which other users then trade against.
In summary, Smart Trades eliminates price-slippage and front-running, resulting in more price-efficient trades compared to typical DEXs. This means you get more value for your money.
Options Trade empowers users to create (write) Put & Call Options, while allowing others to trade against these Options. Version 1 Options are fully collateralized and physically settled.
Options Trade offers users income generation through the creation of Options, and allows traders to employ a variety of strategies or simply speculate on price movements.
Zero Fee Trading
Users have the option to subscribe to Eve Exchange using our native token, EVE, to trade with zero fees.
Our subscriptions significantly reduce the cost of trading on DeFi protocols, ultimately helping you maximise your gains.
A Note about Pricing
All price data is sourced from ChainLink Oracles or our custom oracles (which derive prices from CoinMarketCap). This pricing model ensures 'fairness', relying on the volume-weighted average price (VWAP), rather than supply-locked protocols like Uniswap or the last traded price on centralised exchanges.
For a deeper understanding of how this works and its benefits, refer to the Oracle Price Data section.
For more specific and detailed explanations of each element of Eve Exchange, please explore the other sections of this knowledge base. If you encounter any difficulties, don't hesitate to reach out for assistance via Telegram.
Thank you for choosing Eve Exchange for your decentralised trading needs! We're excited to have you on board.