What is Paradigm?
The Paradigm protocol is a relay protocol for smart contract-based financial primitives. The OrderStream is a decentralized, event-based, and super-peer network with proof-of-stake based sybil tolerance with access control managed by an Ethereum contract system.
The OrderStream network provides a venue for order message broadcast and price discovery for any type of Ethereum-based financial primitive that meets the following criteria. They must 1) allow arbitrary "off-chain" methods for broadcast and discovery of signed, executable order messages, and 2) implement some type of settlement or execution "on-chain", where the transfer of assets and validation of balances takes place via protocol-independent Ethereum contracts.
In other words, Paradigm is building the global liquidity network for decentralized finance.
Click here for a complete technical introduction to the Paradigm protocol.
Developers, applications, and businesses can leverage the core protocol (contract system and OrderStream network) for a variety of use cases, finance-related or otherwise.
- Derive and serve an order book from the OrderStream
- Tap into on-demand liquidity from anywhere in the world, without restriction
- Build a "matcher" – an exchange build atop the decentralized OrderStream liquidity network
- Trade fully client-side with an OrderStream node, and an Ethereum client
- Use the OrderStream as infrastructure and an API to run an open order book relayer
- Experiment with the OrderStream event-based API for new types of decentralized applications
The core protocol is implemented as an event-driven, proof-of-stake based relay network, supported by a system of Ethereum contracts. The network itself is currently built on Tendermint.
- ParadigmCore (source code here)
- Network client for full nodes and validators that make up the OrderStream network
- Consensus takes place around a lightweight transactional state machine, for access control and governance
- Facilitates and enables message relay functionality for applications and broadcast nodes
- Functions with internal ParadigmContracts as the protocol's reference implementation
- Byzantine fault tolerant and performant, thanks to Tendermint Core
- ParadigmContracts (source code here)
- Core protocol smart-contract system implemented in solidity
- Responsible for sybil tolerance and network write access control
- Includes native token system and voting logic for validator election/removal
Paradigm Labs is also leading development of a variety of developer tools to enable rapid development on top of the Paradigm protocol and settlement platform. A non-exhaustive list is below.
- ParadigmConnect (source code here)
- Primary library for interacting with the Paradigm protocol
- Includes tools for making, signing, and posting orders
- Allows execution/settlement of trades as a taker
- Enables "listening" to the OrderStream event API to build order books
- SubContractSDK (source code here)
- SubContracts are settlement logic on the Paradigm platform
- The SubContract interface and OrderGateway contract create a highly extensible and open settlement platform for decentralized exchange logic
- They can wrap existing settlement logic, or implement new types
- Highly flexible and extensible settlement interface for any contract type
Paradigm Labs is committed to developing the Paradigm protocol as open-source software. Connect with the team and the community to share ideas, give feedback, and ask for help.