HIVE

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About

The problem it solves Hive bridges the gap between traditional finance and DeFi by bringing familiar orderbook trading to the blockchain.

How it's made

Challenges we ran into Hive (Orderbook) is not dependent on a formula — it relies on the data structure of our smart contract. The most challenging part of building Hive has been ensuring that the contract is gas-efficient, especially since every event or action involves reading from and writing to storage. We successfully implemented an on-chain matching engine, so every time a limit order is placed, it gets matched automatically. However, handling market orders presents a bigger challenge. To execute a market order, we need to identify the best bid and ask, which is computationally expensive. Even the most efficient sorting algorithms with a time complexity of O(n log n) were not fast or cheap enough for our needs. Ultimately, we decided to move this logic off-chain. Our current approach allows the off-chain system to determine the price levels, which are then passed to the on-chain function for execution.