Integral SIZE is a decentralized exchange that is specifically designed for the execution of large orders on blockchain. It enables traders to execute orders at time-weighted average price (TWAP), a strategy that is highly used to minimize a large order's price impact and result in price improvement.
How is time-weighted average price determined?
Integral SIZE uses Uniswap v2 as price oracle.
Once an order is submitted, the protocol will query Uniswap v2 to get spot prices over the next 30 minute. By calculating the arithmetic-mean of these prices, the protocol will get TWAP to execute your order.
You can read this dedicated section to learn more.
What happens if there is big volatility? How do I protect myself from getting a really bad price?
Big volatility will cause the 30-min TWAP diverges a lot from the spot price when you submit the order. If the difference goes beyond your slippage tolerance, your order will be reverted.
Can I cancel my order during the 30 minutes?
Unfortunately you cannot cancel your order during the 30-minute delay period in this build. We are working in the hope of supporting this feature in future builds.
Why Uniswap v2 oracle? Why not v3?
Uniswap v2 and v3 have different distribution of liquidity over price ranges:
v2 has "constant liquidity" at every price from (0, infinity)
v3's liquidity distribution could be anything, such as having lower and/or upper price bounds beyond which there is no liquidity. This results in "liquidity holes" in any price range.
For v2, pool reserves completely determine oracle robustness. But for v3, only knowing the 2 reserves is not enough, and it still requires oracle users to know the liquidity shape to determine robustness.
Who should use Integral SIZE?
Integral SIZE is for everyone: whether you are a long-term investor, a HODLer, a day trader, or a farmer, with Integral TWAP:
You no longer need to write a customised SC to split large orders into small ones;
You no longer have to manually execute smaller orders across multiple venues;
You should be less concerned with sandwich attacks as your orders will be executed at 30-min TWAP.
With one click, you get 30-min TWAP for your orders. There is no additional slippage versus the 30-min TWAP.
However, saving with Integral SIZE would be the most when you have a large order to execute.
This is because when you have a large order to do, the price quote you get is almost never your executed price due to price impact (and even sandwich attack).
The larger the order, the larger the price impact, and hence the larger the saving would be with Integral TWAP.
Can I list pairs on Integral SIZE?
Unfortunately you cannot list pairs or create liquidity pools on Integral SIZE. We are working in the hope of supporting this feature in future builds.
If you have needs for OTC trading a certain token, you can reach us via Telegram @kamadod, and we'll see if we can provide tailored technical solutions.
What's the trading fee for using Integral SIZE?
Integral SIZE currently charges 1 bp fee for all trades, regardless of their sizes.
What does Integral SIZE do to my positive slippage?
Integral SIZE returns ALL of the positive slippage incurred from the trade to you.
Why is SIZE charing more gas than other DEXs?
In addition to paying the normal gas for submitting an Ethereum transaction, whenever a user interacts with the SIZE, he also needs to prepay the gas that will be used in the future for the delay contract to execute the order. Any unused gas that is left will be refunded back to trader.