Trade Batches

The system makes use of trade batches, or price epochs, to efficiently group settlements and executions on chain. All actions occurring in a specific trade batch will be grouped together and executed simultaneously.

At this execution the balances of all user positions in a market will be updated to reflect their performance based on the underlying price and the funding rate owed.

To accurately track the underlying assets of markets, Float interacts with oracle solutions which allow our smart contracts to interact with off chain price data.

A trade batch or price epoch begins when a price is received from the oracle solution. All actions made by users after this update are grouped together into one batch. When the next price is received that trade batch is closed, and actions performed after will be added to a subsequent batch.

User actions are not executed immediately. The protocol executes a Minimum Executing Waiting Threshold (MEWT), which begins once the subsequent price is received. Once the MEWT is completed, user actions are executed.

The countdown to the end of the current trade batch can be seen on the detailed view (Morgan mode) for that market. There can be some variance in the time between trade batch end period and trade execution depending on the heartbeat of the price feed.