ODEX Knowledge Base
How fast is ODEX ?
While ODEX is a decentralized exchange, it is as fast as its centralized counterparts:
- 1) When you place an order, it is immediately added to the orderbook. No transaction is sent at this time (and no fee is paid either), the order is stored off-chain until it is matched or canceled.
- 2) When you your order is matched, the results of the trade are immediately reflected on the exchange and you can immediately withdraw the tokens you just bought. The trade is later (in a few minutes) committed to the DAG when ODEX sends the two matching orders to the Autonomous Agent of the exchange. At this moment, the trade becomes irreversible.
- 3) When you cancel your order, it is immediately removed from the orderbook and can no longer be matched against other orders. Canceling doesn't require sending a transaction and is therefore free.
