The lifecycle of a trade
SELLER ROBINDEX BUYER
│ │ │
│ 1. deposit tokens ─────────▶│ │
│ 2. sign your terms ────────▶│ │
│ │ order is live │
│ │◀───────── 3. sees the order │
│ │◀───────── 4. pays │
│ │ 5. verifies the payment │
│ │ 6. prices the fill │
│ │────────── 7. tokens ────────▶│
│◀───────── 8. paid (−fee) ────│ │
│ │────────── 9. any change ────▶│
The escrow
When you create an order, your tokens move into escrow, held safely rather than left in your wallet. This is what makes the trade trustworthy from the buyer's side. They can see the tokens are really there before they pay.
Your tokens stay yours in every meaningful sense:
- You can cancel any time and take back everything unsold.
- Nobody can move them except you (by cancelling) or a buyer (by paying).
- If any part of a settlement fails, the system refunds automatically.
Partial fills
An order isn't all-or-nothing. List 10,000 tokens and one buyer can take 2,000 while another takes the rest. Your order stays live with the remainder until it's sold out or you cancel.
Settlement pricing
For market and discount orders, the price is checked again at the moment of settlement, not when the buyer got their quote. This protects both sides from a stale quote.
If the price moves against the buyer by more than 1.5% between quote and payment, the fill is rejected and their ETH is returned automatically. They take a fresh quote and try again.