import { Page } from "../components/layout/page"; import { Section } from "../components/layout/section"; import { SectionHeader } from "../components/ui/section-header"; import { DashedPanel } from "../components/ui/dashed-panel"; import { AnimateIn } from "../components/ui/animate-in"; import { CrosshairDivider } from "../components/ui/crosshair-divider"; import { SILVER, SilverButton, SilverMetric } from "../components/ui/silver-theme"; /* ── Token logos (inline SVG) ── */ function OramaLogo({ size = 20 }: { size?: number }) { return ( O ); } function BtcLogo({ size = 20 }: { size?: number }) { return ( B ); } export default function Dex() { return ( {/* ── Hero ─────────────────────────────────────────────── */}
{/* ── Order Book Interface ────────────────────────────── */}
{/* You Pay */}
You Pay
BTC
Bridged BTC on Orama L1
{/* Swap Direction */}
{/* You Receive */}
You Receive
$ORAMA
1 BTC = — ORAMA
{/* Details Row */}
Order Type: Market Fee: 1,000 rays
{/* Action Button */} Coming Soon
{/* ── Stats Bar ────────────────────────────────────────── */}
{/* ── Order Book API ────────────────────────────────────── */}
{[ { fn: "place_order(pair, side, amount, price)", desc: "Place a limit order on the book" }, { fn: "market_order(pair, side, amount)", desc: "Execute at best available price" }, { fn: "cancel_order(order_id)", desc: "Cancel an open limit order" }, { fn: "get_orderbook(pair)", desc: "Current bids and asks" }, { fn: "quote(pair, side, amount)", desc: "Expected fill price and size" }, ].map((item) => (
{item.fn} {item.desc}
))}

Any wallet, aggregator, or exchange in the world can integrate by calling these functions over Orama's RPC. No permission required. No listing fees. No gatekeepers.

{/* ── Why Order Book, Not AMM ────────────────────────── */}
{[ { aspect: "Bootstrap", amm: "Needs liquidity providers with both assets", ob: "Just needs sellers and buyers — works from block 1" }, { aspect: "Fairness", amm: "LPs earn special yield (privileged class)", ob: "No special roles — everyone is a trader" }, { aspect: "Capital Efficiency", amm: "Spread across entire price curve", ob: "Concentrated at actual price levels" }, { aspect: "Philosophy", amm: "Complex, opaque", ob: "Simple, transparent, free" }, ].map((row) => ( ))}
AMM Order Book
{row.aspect} {row.amm} {row.ob}
{/* ── Bonding Curve as Liquidity Backstop ────────────── */}

How It Works

20% of every block reward flows into the curve's sell-side inventory (max 21M $ORAMA). Anyone can buy from the curve by sending BTC. The price follows:

Price = 0.0000000006 x sqrt(total_sold)

BTC paid goes to the protocol reserve, directly backing the BTC bridge. The free market (order book) determines the real price. The curve is a floor.

Curve Price Schedule

{[ { sold: "10,000", price: "0.00000006 BTC", btc: "0.0004 BTC" }, { sold: "1,000,000", price: "0.0000006 BTC", btc: "0.4 BTC" }, { sold: "5,000,000", price: "0.00000134 BTC", btc: "4.5 BTC" }, { sold: "10,000,000", price: "0.0000019 BTC", btc: "12.7 BTC" }, { sold: "21,000,000", price: "0.00000275 BTC", btc: "~38.5 BTC" }, ].map((r) => (
{r.sold} sold {r.price} {r.btc} total
))}
{/* ── Asset Hierarchy ────────────────────────────────── */}
BTC Bridged from Bitcoin mainnet
Protocol-native order book
$ORAMA Gas token, earned through mining
Permissionless WASM DEX contracts
?
Custom Tokens Created on Orama via WASM contracts
{/* ── Front-Running Prevention ──────────────────────── */}

Randomized Order Processing

Order book transactions within the same block are processed in randomized order, not by gas price. This eliminates MEV (Miner Extractable Value) — block proposers cannot reorder transactions to front-run traders.

Bonding Curve Reference Price

The bonding curve provides a mathematical reference price that cannot be manipulated by wash trading on the order book. The curve's price is deterministic based on total tokens sold — pure math, not market games.

{/* ── CTA ──────────────────────────────────────────────── */}

Start Trading

Connect your RootWallet to trade $ORAMA/BTC on the protocol-native order book.

Coming Soon
); }