The Ominichain Liquidity Protocol with High Liquidity Efficiency, MEV Protection, and Zero Slippage
Peti is an ominichain liquidity protocol that provides the smoothest experiences for traders and the best liquidity efficiency for institutional market makers. For traders, it is often expensive, if not impossible, to execute large-size ominichain trades due to the high slippages of AMM pricing combined with limited depth of the liquidity pools of cross-chain bridges. Using Peti, traders now can utilize the “just-in-time” liquidity to execute ominichain trades with zero slippage.
Specifically, Peti introduces the xRFQ (cross-chain Request For Quote) system. When traders want to make an ominichain trade, instead of going through multiple decentralized exchanges and bridges, their cross-chain swap quote is sent directly to professional and institutional market makers. The market maker with the best pricing will be matched with a cryptographically secured signature. The order is then executed atomically via smart contracts and cross-chain messages built on Celer.
The Peti protocol has the following advantages:
- Low fees. In Peti, the user directly exchanges assets with the market maker on different chains, thus bypassing the intermediate bridges and DEXes that repeatedly charge fees for the swap.
- High capital efficiency. In traditional AMM liquidity pools, the liquidity has to be locked in the protocol even if there is no swap/bridge request. In Peti, the market maker only needs to provide liquidity when there is a user request, and the capital can be utilized anywhere else during other times. As a result, Peti achieves higher capital efficiency as compared to traditional DEXes/bridges.
- Jumbo-size cross-chain swaps with 0 slippages. Since Peti facilitates direct swaps between users and market makers, it does not suffer from the slippages incurred during the intermediate DEXes and bridges, especially for cross-chain swaps of large size.
- MEV Protection. Since Peti does not involve any DEXes or AMM, it is naturally protects users from MEV.
Importantly, Peti is trust-free. This means that the security and execution of the trades do not rely on any single party. Under no circumstances, can traders or market makers get funds from one another without actually completing the trade.