Technical Overview

General

WCM is fully on-chain. It is deployed on MegaETH, an Ethereum Layer 2.

It is entirely a set of smart contracts hyper-optimized to reduce gas costs. It has no backend. The UI talks directly to the blockchain, it can be downloaded and run locally on any computer. Anyone can build an alternative UI to trade on WCM.

The smart contract source code will be published after WCM has achieved sufficient liquidity. Our goal is to offer users the functionality of a CEX, combined with the transparency and permissionless access of Uniswap.

WCM uses RedStone as its oracle on MegaETH. The oracle is used to settle perps.

Smart Contracts

The exchange is implemented as a single interface at a single address. The single interface fronts multiple deployed contracts on the blockchain. The exchange itself is broken up into three contracts (due to size limitations) and each order book is also its own contract. Each book can handle more than a billion live orders on each side. Insertion is O(1).

Oracles

All tokens in WCM must have a price source. The exchange is configured to read from Redstone, ChainLink, and Pyth oracles. WCM transactions do not attempt to update these oracles. Oracle updates are either run externally by the exchange operator or sponsored. The core financial innovation in WCM, risk based portfolio valuation, depends critically on good prices.

Security

See Counterparty Risk.

SDKs

See Typescript SDK for Typescript and Rust SDK for Rust. We will have a Python SDK in the future.