Abstrade

Abstrade is a permissionless, non-custodial peer to peer limit order trading protocol. Limit orders for any token are posted on chain for any other user, protocol or arbitrage bot to execute directly from the users account. Previously on-chain limit orders were impractical due to high gas costs and poor UX for posting and canceling limit orders. Abstrade solves the gas fee issue by building on Gnosis Chain, where low gas costs let users post orders for about 0.0002 xDAI. Order filling is gasless for the order creator as the filling party executes the filling transaction. Abstrade uses smart contract wallets built on the new ERC-4337 standard to let users send batched limit orders and control their account with either an EOA or social logins, with other login methods to come.

Smart Contracts: Abstrade uses ERC-4337 compatible smart contract wallets (SCWs) controlled and owned by the user. The Abstrade SCW stores user set limit orders on its state. It also contains a public function for anyone to fill those limit orders. This function is similar to a flash loan function where the filling party may draw funds from the SCW, execute a callback function on their own smart contract, but must return the desired tokens back to the user's SCW for the filling transaction to be valid. We built Abstrade on Gnosis Chain, because on-chain limit orders require cheap gas and fast transactions. Gnosis Chain also puts a high value on decentralization which fits with our protocol's permissionless, peer to peer design.

Front End: When users initially load into the landing page, users are prompted to sign in with Google, Github, or Discord - sign in methods that are familiar to them. With the help of Web3Auth, Openlogin, and ZeroDev - we have made it so once a user logins in, they are given a counterfactual address, which is derived from our ERC-4337 compatible smart contract wallet (SCW) implementation. We then created a Custom Connector in wagmi for a more efficient flow of the current user’s information, which includes all of the standard properties and methods that come with a wagmi connector, as well as a AAProvider, AASigner, and our Limit Order Account contract as the Smart Account API. This smart account API creates a easy-to-use implementation of our Limit Order Account, which is derived and includes all of the properties/methods from eth-infinitism Base and Simple Accounts.