How to integrate a trading protocol

The AFP exposes a novel suite of products that previously could not be traded so offering a variety of trade execution protocols that act as entry points to these markets is crucial.

Prerequisites

Before you can implement a trading protocol, ensure you have:

  • A margin account for each of the collateral assets your listed products require. For example, if the products you intend to list on your protocol use USDC and ATN as collateral assets, you must have Margin Accounts in those assets.
  • An interface to accept intents. The AFP uses an intent centric architecture and allows for a gasless trading experience for the end user. Your trading protocol must take Intents as input.
  • An output that conforms to the expected trade object. The AFP expects trades to be represented in a specific way before they can be cleared.

Integrating your Trading Protocol

  1. Deploy a TradingProtocol.sol instance that will be used to send trades to the clearing system. The address that is used to deploy the contract will automatically be granted DEFAULT_ADMIN_ROLE rights.
    function example() external view returns (ProductState)
TBA
  1. Using the address with the admin rights, authorise an Autonity address on your newly deployed TradingProtocol.sol contract to submit trades (this address will then gain the TRADE_SUBMITTER role). This prevents any unauthorised addresses from submitting trades to the clearing system through your trading protocol contract:
    function addTradeSubmitter(address submitter) external override onlyRole(DEFAULT_ADMIN_ROLE)
TBA

  1. Implement logic to determine when your trading protocol will enable fallBackOnFailure. If fallBackOnFailure is set to true then collateral in the margin account of the DEFAULT_ADMIN_ROLE is used as the counterparty in a trade where one side may fail its MAE Check.

  2. Configure your trading protocol to submit trades from the address with the TRADE_SUBMITTER role.

function execute(IClearing.Trade calldata trade, bool fallbackOnFailure) external override onlyRole(TRADE_SUBMITTER_ROLE)
TBA
  1. Trading fees will be credited to the margin account of the DEFAULT_ADMIN_ROLE from where they can be withdrawn.
  2. Your trading protocol is now ready to accept trades!