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Introduction to P2P Swap Contract

The P2P Swap Contract is a decentralized peer-to-peer token exchange system that enables users to create, manage, and fulfill token swap orders in a trustless marketplace environment. Built on the EVVM ecosystem, it provides a comprehensive order book system with flexible fee structures and integrated staking rewards.

Core Contract Functions​

Order Management System​

The P2P Swap Contract implements a sophisticated order book system:

  • Order Creation (makeOrder): Users can create swap orders offering one token in exchange for another
  • Order Cancellation (cancelOrder): Order creators can cancel their unfilled orders and reclaim their tokens
  • Order Fulfillment: Two dispatch methods with different fee structures for order execution
  • Market Discovery: Automatic market creation for new token pairs

Fee Structure Models​

  • Proportional Fee Model: Percentage-based fees calculated from order amounts
  • Fixed Fee Model: Capped fee structure with maximum limits to protect users
  • Dynamic Fee Distribution: Fees distributed between sellers, service treasury, and MATE stakers

EVVM Ecosystem Integration​

  • Payment Processing: Full integration with EVVM's payment system for secure token transfers
  • Staking Rewards: Executors who are MATE stakers receive additional rewards
  • Signature Authorization: EIP-191 signature verification for all operations
  • Service Staking: Contract can stake MATE tokens to participate in the staking ecosystem

Market Architecture​

Dynamic Market Creation​

  • Automatic Markets: New markets created automatically when users create orders for new token pairs
  • Market Identification: Each token pair (tokenA/tokenB) gets a unique market ID
  • Order Storage: Orders organized by market ID and sequential order IDs within each market
  • Efficient Lookup: Fast market discovery and order retrieval through optimized mappings

Order Book Structure​

  • Sequential Order IDs: Orders assigned sequential IDs within each market for easy tracking
  • Slot Management: Efficient slot reuse when orders are cancelled or filled
  • Order Metadata: Complete order information including seller, amounts, and status
  • Market Statistics: Real-time tracking of available orders and market capacity

Economic Model​

Fee Distribution System​

The contract implements a three-way fee split:

  • Seller Rewards: Portion of fees goes to order creators as incentive
  • Service Treasury: Contract accumulates fees for operational sustainability
  • MATE Staker Rewards: Stakers who execute transactions receive fee portions

Staker Incentive Structure​

  • Base Rewards: All staker executors receive MATE token rewards
  • Priority Fee Bonuses: Additional rewards for processing priority transactions
  • Execution Multipliers: Higher rewards for complex operations (3x-5x base rewards)
  • Fee Sharing: Stakers receive portions of transaction fees as additional compensation

Treasury Management​

  • Fee Accumulation: Service fees automatically accumulate in contract balances
  • Withdrawal System: Time-delayed withdrawal proposals for treasury management
  • Balance Tracking: Real-time tracking of contract token balances
  • Staking Integration: Contract can stake accumulated MATE tokens for additional rewards

Security Architecture​

Signature-Based Authorization​

All operations require cryptographic signatures using EIP-191 standard:

  • User Authorization: Each action must be signed by the relevant user
  • Replay Protection: Nonce-based system prevents transaction replay attacks
  • Parameter Integrity: Signatures cover all critical transaction parameters
  • Message Verification: Dedicated SignatureUtils library for consistent verification

Time-Delayed Governance​

Administrative functions use time-delayed execution:

  • Proposal Period: 1-day waiting period for all administrative changes
  • Transparency: All changes visible before execution
  • Emergency Controls: Proposals can be cancelled during waiting period
  • Owner Management: Secure owner transfer process with proposal/acceptance pattern

Integration Capabilities​

EVVM Core Integration​

  • Payment Functions: Direct integration with EVVM's pay, caPay, and disperseCaPay functions
  • Token Abstractions: Works with EVVM's internal token representation system
  • Staker Detection: Automatic detection of staker status for reward distribution
  • Priority Processing: Support for priority fees and expedited transaction processing

Staking Service Integration​

  • Service Staking: Contract can stake MATE tokens as a service participant
  • Reward Accumulation: Automatic accumulation of staking rewards
  • Unstaking Process: Controlled unstaking with proper authorization
  • Balance Management: Integration with staking balance tracking

Execution Methods​

The P2P Swap Contract supports multiple execution approaches:

Direct Execution​

  • User-Initiated: Users interact directly with the P2P Swap contract
  • Immediate Processing: Transactions submitted directly to the blockchain
  • Full Control: Complete autonomy over transaction timing and parameters

Fisher Execution​

  • Fishing Spot Integration: Users submit transactions through the fishing spot system
  • Fisher Processing: Specialized fisher nodes capture and execute transactions
  • Staker Benefits: Fisher executors who are stakers receive enhanced rewards
  • Optimized Routing: Fishers handle transaction optimization and gas management

Order Lifecycle​

Order Creation Process​

  1. Signature Generation: User signs order parameters with their private key
  2. Token Transfer: User's tokens transferred to contract via EVVM payment system
  3. Market Assignment: Order assigned to appropriate market (created if necessary)
  4. Order Storage: Order details stored in contract with unique ID
  5. Reward Distribution: Staker executors receive MATE token rewards

Order Fulfillment Process​

  1. Order Selection: Buyer selects order from available market orders
  2. Signature Verification: Buyer's signature verified for dispatch authorization
  3. Token Exchange: Automatic token swap between buyer and seller
  4. Fee Processing: Fees calculated and distributed to all parties
  5. Order Cleanup: Completed order removed from active order book

Order Cancellation Process​

  1. Authorization Check: Verify cancellation request from order creator
  2. Token Return: Original tokens returned to order creator
  3. Order Removal: Order removed from market order book
  4. Market Update: Market statistics updated to reflect cancellation

Fee Calculation Models​

Proportional Fee Model​

  • Percentage-Based: Fees calculated as percentage of order amount
  • Configurable Rate: Admin-adjustable percentage rate (default 5%)
  • Predictable Costs: Users know exact fee percentage in advance
  • Scalable Structure: Fees scale proportionally with order size

Fixed Fee Model​

  • Capped Fees: Maximum fee limit protects users from excessive charges
  • Hybrid Approach: Uses proportional calculation up to maximum limit
  • User Protection: Prevents fee exploitation on large orders
  • Flexible Implementation: Supports both models simultaneously

Administrative Features​

Governance System​

  • Owner Management: Secure owner transfer with time-delayed acceptance
  • Fee Configuration: Adjustable fee percentages and distribution ratios
  • Treasury Operations: Controlled withdrawal system for accumulated fees
  • Staking Management: Contract-level staking operations for service participation

Monitoring and Analytics​

  • Order Tracking: Complete order history and status monitoring
  • Market Analytics: Real-time market statistics and order book depth
  • Fee Analytics: Detailed fee collection and distribution tracking
  • Balance Monitoring: Real-time contract balance tracking across all tokens

The P2P Swap Contract provides a comprehensive decentralized exchange infrastructure that seamlessly integrates with the EVVM ecosystem while offering flexible fee structures, robust security, and attractive incentives for both users and stakers.