Introduction

The Exchange Union Daemon (xud) is the reference implementation powering OpenDEX, a decentralized exchange built on top of the Lightning and Raiden 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. These exchanges are hosted on a server by an exchange operator. Under the hood, these exchanges interact with the OpenDEX network and abstract all the complexity that comes with it into a nice user interface for end-users. Exchanges use xud to hedge user trades using the liquidity on OpenDEX. Market Makers use xud to offer liquidity on OpenDEX with a premium leveraging arbitrage to external exchanges, like Binance. Exchange Union provides tools that help decrease the friction for both sides of the marketplace. Exchanges can use the hedgy-tool to automate the hedging with xud and market makers can use arby, another tool that helps them leverage arbitrage opportunities between OpenDEX and external exchanges.

Get Started

-> Get started as Market Maker, providing liquidity from external exchanges making a profit

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

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

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

Trading via XUD

Incentives

  • Traders benefit from instant & anonymous peer-to-peer trading without KYC and accounts.

  • Market makers make profits via arbitrage between external exchanges and OpenDEX.

  • Exchanges make profits via locking in trading fees by hedging trades on OpenDEX.

Features

  • Supports individual 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 & raiden network.

  • Full control over assets.

  • One mnemonic for all assets.

  • Tor by default.

  • Integration and simplified control of lnd and raiden clients.

  • 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!