Permissioned Nodes

We are pleased to announce the Permissioned Nodes update, which will go live tomorrow, October 25th.
This update introduces a new order execution architecture which will reestablish Tigris as the fastest on-chain trading platform and eliminate current limitations.
The nodes handle all user actions such as opening a market trade, opening a binary option, placing a limit order and updating the take profit or stop loss of an open trade.
The execution of limit orders and liquidations is handled by execution bots as normal.

Current Flow:

When initiating a trade, the user signs the order data. This data encapsulates several parameters: margin, pair, leverage and price.
This signed transaction is then dispatched to the gasless relayer via an HTTPS call.
Subsequently, the relayer processes and places the order on-chain. Then a keeper picks up the order and executes the trade using a price received from the oracle.

Flow With Permissioned Nodes:

In this new approach, the user signs the transaction data, but this time it omits the price data. The parameters included are: margin, pair, leverage, etc. Notably absent are the price and the oracle’s signature.
The user transmits this signed data to a permissioned node using an HTTPS call.
The permissioned node retrieves the price from the oracle and then executes the transaction.

With this update, gasless trading will be phased out and proxy wallets will be modified. Gas will now be stored in a single contract directly linked to each user’s wallet, which will track the gas balance of each user.
This change ensures that users can withdraw ETH/MATIC even if they lack access to their proxy wallet. The gas balance will remain consistent across all user interfaces and devices, which will also help with future integration with aggregators.

Benefits of This Update

No RPC Errors When Placing Orders
Since trades are forwarded to the node through an HTTPS call, faulty RPC connections won’t be an issue anymore, greatly reducing the chance to encounter an error when using the platform.

Execution Speed
The absence of callbacks ensures that order placement and execution occur within the same transaction. This streamlined process results in an execution speed that’s at least twice as fast as our competitors.
By eliminating callbacks, nodes have transformed the act of opening a position on our platform into a straightforward, one-step process. This not only speeds up execution but also offers a more intuitive experience for users. In contrast, other platforms might require multiple steps, giving our one-step approach a competitive edge.

Better Error Handling
The system has been updated to display all error messages promptly. Now, when an error occurs, the notification is immediate, eliminating the previous wait time of 5 seconds or more. This ensures a more efficient and user-friendly experience. Also, new error categories have been added in order to handle all possible scenarios.

Event Reconnection
When users reconnect to the event feed websocket, they will now be promptly notified of recent events. This enhancement addresses the concerns of some users who experienced brief disconnections while placing an order and were unaware that their trades had been successfully executed. With the updated reconnection feature, they’ll immediately see the event confirming their trade.

Security
Users no longer input price data into the transaction. This change prevents the use of outdated prices to frontrun the oracle, ensuring a more secure and reliable trading environment.

Gas Costs
By eliminating callbacks and the associated keeper fee, we’ve significantly reduced gas costs. This efficiency allows us to lower the minimum collateral requirements to 5 dollars for both Crypto and Forex.

Integrability
The integration process for Tigris with trading aggregators has been vastly simplified:

1. Direct interaction with the contract is no longer needed, as the system primarily operates through nodes.
2. To cover gas costs, users simply need to deposit ETH/MATIC into the Forwarder contract.
3. There’s no longer a need for a direct connection between the user and the oracle server as is now only needed to stream chart prices.
4. The use of a proxy wallet is optional. Users can directly sign transactions using their own wallet. Nevertheless, our user interface retains the proxy wallet feature to facilitate instant signing.
5. The UI constructs a transaction utilizing the trading contract ABI and then dispatches it to the node via an HTTPS request.

This new approach enhances the ease of integration, reducing the steps and elements aggregators previously had to contend with.

Scalability
To improve scalability, each node consists of 10 relayers. The system rotates among these relayers to execute orders, ensuring that a single node doesn’t process two orders simultaneously. This structure enhances efficiency and order handling.

Sustainability
Nodes are designed to be self-sufficient as they earn ETH or MATIC from each executed transaction, ensuring that as long as the protocol is in use, there’s no need for external intervention. Thus, nodes can operate indefinitely without the need for an ETH top-up.

Decentralization
Initially, each node will be operated by the team and trusted community members, with new nodes being manually integrated into the protocol. As we progress, node URLs will transition to being stored in a smart contract. With the eventual launch of our on-chain DAO, DAO members will have the capability to add node URLs, eliminating the need for website frontend updates.

We are confident that this update will be final and provide the solid foundation needed to keep expanding the protocol. The next steps in the roadmap will be the new tigUSD staking system and the deployment on other chains.

Trade now: https://tigris.trade/

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