Introduction

The Exchange Union Daemon (xud) is the reference implementation powering OpenDEX, a decentralized exchange built on top of the Lightning and Connext network. xud brings individual traders, market makers and exchanges onto OpenDEX to form a single global trading network and liquidity pool.

Traders use OpenDEX-enabled exchanges as gateways to trade on OpenDEX. Under the hood, they interact with the OpenDEX network and abstract the complexity that comes with it into a nice user interface for traders. These exchanges are centralized, but usually self-custodial, meaning traders stay in control of their funds at all times. Exchanges are creating demand by using xud to hedge end-user trades on OpenDEX to lock in profits. Market Makers are creating supply, the liquidity on OpenDEX, by leveraging arbitrage to external exchanges (e.g. Binance). Exchange Union provides tools that decreases the friction for both sides, all integrated with xud.

Get Started

-> Get started as Market Maker, providing liquidity by arbitraging with external exchanges making a profit

-> Get started as Trader, buying and selling cryptocurrency preserving privacy & without counterparty risk

-> Get started as Developer, contributing or building on top of xud

-> Get started as Exchange Operator, running a open-source exchange platform with integrated liquidity (coming soon!)

xud orderbook

Incentives

  • Traders benefit from anonymous & secure peer-to-peer trading on OpenDEX-enabled exchanges

  • Market makers make profits by arbitraging between external exchanges and OpenDEX.

  • Exchanges secure profits by locking in trading fees through hedging trades on OpenDEX.

Features

  • Supports traders, market makers, and exchanges.

  • Order book aggregates orders from the network locally.

  • Orders get matched locally with peer orders from the network.

  • Instant order settlement via atomic swaps on the lightning & connext network.

  • Full control over funds at all times.

  • One mnemonic for all assets.

  • Tor by default.

  • Integration and simplified control of lnd and connext.

  • Peer-to-peer discovery of other OpenDEX nodes.

  • gRPC API to serve other applications, also accessible via the command-line interface xucli.

API & Code Documentation

The daemon has been designed to be as developer friendly as possible in order to facilitate application development on top of xud.

Support & Community

  • Support, general questions and development-related discussions are welcome on our Discord!

Help us to improve!

xud is in an early stage; just like this page. Please help us to improve by opening issues (or even better PRs) for xud, xud-docker and the docs.

Feel like talking? Chat with us on Discord!