FAQs

In a decentralised order book, users can place buy or sell orders for a particular asset at a specific price. These orders are recorded on the blockchain and stored in the order book. When a match is found between a buy and a sell order, the trade is executed and the asset is transferred from the seller to the buyer.

There are several benefits to using a decentralised order book:

• Increased security: because a single entity does not control a decentralised order book, it is less vulnerable to hacking or tampering.
• Greater transparency: all orders and trades are recorded on the blockchain, making it easy to see the entire history of the order book.
• Reduced fees: because decentralised order books do not require intermediaries to facilitate trades, costs are typically lower than those of traditional exchanges.

There are also risks to using a decentralised order book:

• Volatility: the prices of assets on a decentralised order book can be more volatile than those on traditional exchanges, as there is often less liquidity.

Yes. You can place both buy and sell orders on a decentralised order book. When you place a buy order, you indicate that you want to purchase a particular asset at a specific price. When you place a sell order, you say you want to sell an asset at a particular price. If a match is found between a buy and a sell order, the trade is executed and the asset is transferred from the seller to the buyer.

Yes. You can cancel an order at any time in the "My Wallet" section.

• Maker fees are 0.2%.
• Taker fees are 0.5%.

A maker is somebody who creates an order first, so it sits in the book. They can be a buyer or a seller. A taker is the person who matches with the maker and therefore takes value out of the order book.

You can think of a maker as somebody providing liquidity, which is why they usually get a lower fee.

We label it as 0.5% in the UI because we can't be sure before a trade which fee you will get — somebody might create an opposing order just before you submit your transaction.

You can guarantee you are a maker by creating your order far away from the current price.

The price on a decentralised order book is determined by supply and demand. The price tends to increase when there are more buyers than sellers, and tends to decrease when there are more sellers than buyers.

The price is simply taken from the last completed trade. If there are no completed trades, then there is no price to suggest.

There is no slippage mechanism in Lightbeam because it uses an order book. Prices remain stable until an order is filled, whereas AMMs adjust prices automatically along a curve. Users can set their own prices via limit orders, or use a market order (swap) to trade immediately.

Trading pauses when there are no matching orders, unlike an AMM where trades always execute against the curve. However, Lightbeam offers a "virtual liquidity pool" on the order book that lets users provide liquidity in a way similar to an AMM.

Lightbeam plans to create liquidity pools for existing Keeta tokens, including KTA, USDC, EURC, and cbBTC.

Lightbeam uses native atomic swaps instead of smart contracts. Trades happen directly between users' wallets, similar to Hyperliquid's native-layer system. This is explained in more detail in Inside Keeta's atomic-swap order book. Once smart contracts go live on Keeta, Lightbeam will also integrate them into the matching engine.

Unlike traditional AMMs, Lightbeam's liquidity consists of chained atomic swaps. Tokens never leave the user's wallet, so there is no central LP wallet. Liquidity is provided through a virtual order-book pool built from these atomic swaps.

An AMM is simple and suited mostly for meme coins. Lightbeam's order-book design aims for better trading efficiency and professional trading features — while still offering an AMM-style experience for casual traders.

The team believes Lightbeam will be the first true DEX on Keeta, given the technical difficulty of building order-book systems without native orders or smart contracts. By the time Keeta releases these capabilities, Lightbeam intends to have most of the liquidity, the best user experience, and more advanced trading features.

Yes. Any Keeta token will be tradable on Lightbeam.

For the initial token launch, $LEAF will not immediately use the order-book pool. After launch, liquidity will be supplied to a pool created from the funds raised.

The sale will run for seven days (unless it fills early). Once it ends, the $LEAF token will launch and the DEX will go live.

Names like "BEAM" and "LIGHT" are already common. The team chose "LEAF" because it sounds distinctive and the logo stands out.

The team consists of three engineers, including Splinter and Smasher, who previously developed Nightshade DEX on the Alephium blockchain.

Nightshade demonstrated the concept on Alephium, though Alephium's user base is small. Lightbeam aims to be the main DEX on Keeta, leveraging Keeta's native KYC and regulatory framework to attract institutional assets.

The immediate plan is a gamified LEAF rewards program. Season 1 begins on November 26 and rewards users for trading on Lightbeam. Longer term, the team plans to grow by offering advanced order-book features while appealing to both casual and professional traders.

Yes. Lightbeam is live on Keeta's testnet, and the Lightbeam Wallet is open source, so users don't need to blindly trust the dapp.