AbacasXchange ICO - Lowering your trading costs by 50% or more
The AbacasXchange Platform:
The AbacasXchange is a highly secure cloud service using the latest web technologies to provide real-time access to Trading, Positions and Account Activity via desktop browsers, PDAs and smart phones.
**Technology Layers: ** The AbacasXchange is composed of four primary layers of technology:
Web User Interface
Web Server and APIs
Application / Workflow Services
Database Servers
Detailed Exchange Architecture
Unlike a traditional exchange which forces the trading of an asset through a currency, the AbacasXchange provides a means of exchanging assets directly with a party that wishes to trade the same two assets in the opposite direction at the market midpoint. In the event that there is no party within the exchange wishing to trade the same two assets, the exchange will seek to link buyers and sellers of the same two assets through intermediate asset pairs (which is referred to as Indirect Liquidity).
While the AbacasXchange is structured to isolate client assets held in trust from the operational accounts of the Exchange, there is a reliance on the AbacasXchange infrastructure for managing client accounts, client account balances of ABCS, and the reconciliation of the ABCS underlying assets with the balance of assets within the custody of the trust. To mitigate entity and infrastructure risk, the AbacasXchange utilizes a Block Chain Ledger to publish key ledger account activity and balances for the reconciliation of legal ownership of custodial assets. The public ledger is not visible outside of the investment community of the exchange, and the Asset Purveyor identity is secured via digital signatures
Client Accounts
Client Accounts are managed under a Client Master Account. Within the Master Account, multiple base asset accounts can be created based on the types of assets transferred to the Exchange Custodial Accounts. Once the client’s base assets are minted, their base asset account will be debited, and the Abacas™ Digital Asset Account will be credited for the equivalent Abacas Digital Asset Token.
Data Model / Order Trades
The AbacasXchange facilitates the direct trading of assets between asset purveyors through orders entered by the Asset purveyor. Orders are categorised: Market Order Limit Order Stop Order In addition to single leg orders, the AbacasXchange can support complex orders including OCO (One Cancels the Other), If-Done, and If-Done OCO. Orders are entered on behalf of the asset purveyor’s Master Account, and are comprised of one or more legs depending on the Order Type. An order leg can be filled partially, or entirely, thus a single order leg may be filled by two different counterparty asset purveyors. For each order leg filled, there will be an opposing order leg filled (the opposite asset purveyor) and two offsetting transactions which represent the exchange of assets, and the exchange rate of the filled order.
Repository Pattern
The data tables of the Abacas™ System are accessed through the Microsoft Entity Framework (Version6) by use of the Repository Pattern. The repository of work creates an intermediate layer between the applications using raw data and the underlying framework that is interacting with the database system. By using the Repository Pattern, Mock Data can be substituted in the Repository for Unit Tests unbeknownst to the upper layers of the system.
Rate Service
The Rate Service provides all base rates needed to price all defined Abacas Digital Assets. These rates are received as Bid/Offer Market rates. The Abacas™ Rate Service supports the following subscriptions: 1) Base Rate Bid/Offer 2) Currency Pair Bid/Offer/Mid-Price 3) Abacas Digital Asset Pair (ADA) Bid/Offer/Mid-Price Due to the high demand for rates is the system, there is an expandable number of Rate Feed Hubs that concentrate client application requests for rates such that the Rate Feed Service only needs to handle a few connected hubs in order to service what could potentially be thousands of subscribing services listening to rates.
Order Manager / Liquidity Manager
The Order Manager and Liquidity Manager are the core of the AbacasXchange. When an asset purveyor places an Asset Pair Order, the Order Manager looks to see if there is an Asset Pair Order Book within the exchange. If there is, then the order is added to the Order Book where it may be filled directly if there is liquidity, or not if there is no direct liquidity in the Order Book. The Liquidity Manager monitors asset pair liquidity and builds asset relationships that represent potential liquidity paths from one asset to another. When the Liquidity Manager discovers a match of liquidity for an order, it will link the orders together and fill the entire group