0x Coordinator

Bamboo Relay is excited to announce our main net implementation of the 0x coordinator model.

In the existing open order book model the only way traders are able to cancel their orders is to make an on-chain transaction.

This action costs gas and opens them up to the risk that their order may get filled in the meantime.

Additionally it’s possible for trades to be front-run or to have collisions with other users attempting to fill the same order (see Front-running, Griefing and the Perils of Virtual Settlement).

The 0x coordinator model extends the open order book model and adds an additional layer of verification to orders in the form of a coordination server and smart contract extension.

As an off-chain component the coordinator server is able to record soft cancels as well as fills for orders.

The record of soft cancels means the server wont authorize any fills for orders that have been cancelled off-chain.

While it is possible to also prevent front-running or trade collisions with the coordinator, it opens it up for taker griefing (requesting but not submitting orders).

Bamboo Relay will be monitoring how orders get filled with the coordinator and if this becomes a problem we will look at implementing this feature.