Superior Price
How price-time priority defines the product and the eligible reward position.
Deepstate is a central limit order book. Makers choose a limit price and quantity; takers execute against compatible resting liquidity. Price priority comes first and order time breaks ties at the same price.
Reward eligibility
Only two positions in a pool can accrue market-making rewards at a time:
- the highest-priced bid, which is the best offer to buy the base token; and
- the lowest-priced ask, which is the best offer to sell the base token.
An order below the best bid or above the best ask is valid and contributes depth, but it does not accrue DEEP. When a new order improves the price, the previous leader stops accruing and the new leader begins.
One tick of price priority moves the reward stream. Quantity affects the reward only after an order is best.
What “superior” means
The contracts determine the superior price mechanically from the onchain book. They do not know an external fair value and do not use an oracle to decide whether a quote is economically good.
A top-of-book price can therefore be stale, manipulable, or unattractive relative to another venue. Reward eligibility means “best in this Deepstate book,” not “best in the world.” Consumers should compare executable price, quantity, gas, protocol fee, and any interface fee.
Quantity and time
Reward accrual has three boundaries:
- Position: the order must be the current top of its side.
- Time: only wall-clock seconds spent in that position count.
- Quantity: the configured quantity function scales the side's maximum schedule budget.
The schedule is a ceiling, not a guaranteed payout. A winning order below the full-reward quantity earns proportionally less under the latest quantity specification.
Execution fees
The protocol fee is taken from matched taker output, not from unmatched resting collateral. At the planned 10 basis points, the contract computes floor(outputAmount × 10 / 10,000) in the token the taker receives.
The interface may add a separate fee outside the matching engine. See Fees.