For any given asset pair, the GTE order book maintains two lists of open orders: bids (buy orders) and asks (sell orders). Each order specifies a limit price (the price the trader is willing to buy or sell at) and a size (the amount of the asset they want to trade). The order book’s matching engine continuously compares bids and asks. When a buy order and a sell order match, the engine executes the trade and settles funds between the two parties.GTE’s Spot CLOB follows a price–time priority rule:
Orders at the most competitive prices are matched first (highest bids and lowest asks).
If multiple orders exist at the same price, the oldest order is filled first.
This structure ensures fairness, transparency, and efficient price discovery across markets.
For established tokens with more mature liquidity and market depth, CLOBs deliver superior execution compared to AMMs:Competitive Spreads: Market makers compete directly for order flow, naturally driving spreads tighter for liquid assets.Granular Pricing: Multiple limit orders across price levels provide more accurate market prices than AMM curves.Better Execution: Deeper liquidity reduces slippage on larger trades, while AMMs suffer significant price impact.Professional Liquidity: Sophisticated market makers use advanced strategies to maintain consistent spreads and responsive pricing.Real-Time Pricing Flexibility: Unlike fixed AMM formulas, CLOBs adjust instantly to market conditions and news.