mirror of
https://github.com/lux-apps/papers.git
synced 2026-10-30 18:15:21 +00:00
zeekayandHanzo Dev
70f6883235
A July commit removed eight papers on the premise "no license — DEX/non-custodial only". That premise is wrong: Lux operates an ATS, a broker-dealer, a transfer agent and a bank, and this material is resold at lux.financial. The merge that brought main in preserved the removal because the commit stated a reason, which is how a stale reason outlives the fact it rested on. Back, at the versions main carried — main never received the removal, so its copies are the later ones: the ATS architecture, the security-token standard, smart order routing, institutional custody, MPC custody, post-quantum securities, the SSB partnership and the CoinBridge brief. 83 files. Co-authored-by: Hanzo Dev <[email protected]>
37 lines
1.7 KiB
TeX
37 lines
1.7 KiB
TeX
\section{Settlement Flow}
|
|
|
|
\label{sec:settlement}
|
|
%% =====================================================================
|
|
|
|
The full settlement lifecycle for a securities trade on a regulated EVM L1:
|
|
|
|
\begin{enumerate}[nosep]
|
|
\item \textbf{Order.} User submits a trade order via the ATS API.
|
|
\item \textbf{Match.} The CEX matching engine (Lux CEX) matches
|
|
the order against the order book.
|
|
\item \textbf{Record.} The matched trade is recorded in PostgreSQL
|
|
(source of truth for trade data).
|
|
\item \textbf{Queue.} The trade is queued in the
|
|
\texttt{pending\_settlements} table.
|
|
\item \textbf{Sign.} A settlement cron (30s interval) picks up
|
|
pending trades, constructs the on-chain transactions
|
|
(mint/burn of SecurityToken), and initiates MPC signing.
|
|
\item \textbf{MPC.} The user's device share ($\mathbf{s}_1$) and
|
|
the operator's share ($\mathbf{s}_2$) cooperate to produce
|
|
a threshold signature.
|
|
\item \textbf{HSM.} The HSM co-signs the transaction, attesting
|
|
that the signing environment is uncompromised.
|
|
\item \textbf{Broadcast.} The signed transaction is broadcast to
|
|
a regulated EVM L1.
|
|
\item \textbf{Confirm.} The chain confirms the transaction. The
|
|
indexer picks up the event and updates the read cache.
|
|
\item \textbf{Notify.} The user receives a settlement confirmation.
|
|
\end{enumerate}
|
|
|
|
If the chain is temporarily unavailable, trades continue to match and
|
|
record in PostgreSQL. The settlement cron retries pending settlements
|
|
until chain connectivity is restored. The database is the durable
|
|
record; the chain is the authoritative record once settlement confirms.
|
|
|
|
%% =====================================================================
|