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Silvana Book operates differently from traditional exchanges. Orders are matched privately off-chain by agents and only settled on-chain once both sides fulfill the required conditions. Here, you’ll learn how to execute buy and sell operations, understand price and quantity, and select the right trading method based on your strategy.

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Trading

Silvana supports two trading flows:
  • RFQ (Request for Quote) is a request that a firm quotes from liquidity providers (LPs), accepts one, and then settles. Best when you want fast execution and an explicit quote.
  • Limit orders (CLOB) are bids/offers on the order book and get filled when the market trades at your price. Best when you want price control and are willing to wait.
Example for CBTC/CC with quantity = 0.10 and price = 1000 (CC per CBTC):
  • Buy: receive 0.10 CBTC, pay 100 CC
  • Sell: deliver 0.10 CBTC, receive 100 CC

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Buy via CLI

If your goal is simply to purchase an asset without building against the gRPC API yet, the fastest path is the Silvana Book agent CLI. Throughout this page, commands use cloud-agent. If you haven’t installed it into your PATH, use target/release/cloud-agent instead. The CLI purchase flow uses RFQ under the hood and can chunk a large buy into multiple settlements until the full amount is filled. Prerequisites
The following links are necessary for developers to access the protocol, library interface, and reference implementation:
  • Build the CLI:
cargo build --release -p orderbook-cloud-agent
  • Onboard once (writes/updates your .env):
target/release/cloud-agent onboard --rpc <ORDERBOOK_GRPC_URL>

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Step 1. Pick a market

You’ll need a market\_id (example: CBTC-CC). Obtain it via OrderbookService.GetMarkets (or from your environment).

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Step 2. Sanity-check balances

cloud-agent info balance

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Step 3. Add a purchase via RFQ fill loop

# Buy <BASE_AMOUNT> units of base on <MARKET_ID>
cloud-agent buyer --market <MARKET_ID> --amount <BASE_AMOUNT>
Useful knobs:
  • --price-limit \<PRICE\>: maximum price per 1 base (quote per base)
  • --min-settlement \<AMT\>: minimum chunk size per settlement
  • --max-settlement \<AMT\>: cap chunk size per settlement
  • --interval \<SECS\>: retry interval between RFQ rounds

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Sell via CLI

Use this when you want to sell the base asset on a market (e.g., sell CBTC for CC on CBTC-CC) without wiring up the gRPC API. Like the buy loop, this uses RFQ and can split a large sell into multiple settlements, retrying until the full amount is filled. 
# Sell <BASE_AMOUNT> units of base on <MARKET_ID>
cloud-agent seller --market <MARKET_ID> --amount <BASE_AMOUNT>

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Buy via RFQ

Goal: request quotes, accept the best one, then track settlement to completion.

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Step 1. Choose a market

Call OrderbookService.GetMarkets and select market_id.

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Step 2. Request quotes

Call OrderbookService.RequestQuotes with:
  • market_id
  • direction = "buy"
  • quantity (base quantity you want to buy)

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Step 3. Review quotes

For each quote, check:
  • price (quote per base)
  • quote_quantity (total quote you will pay)
  • valid_until (expiry)
  • optional deadlines: allocate_before_secs, settle_before_secs
  • fee estimates: estimated_total_fee

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Step 4. Accept a quote

  • Call OrderbookService.AcceptQuote(rfq_id, quote_id).
  • Save proposal_id (used to track settlement).

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Step 5. Track settlement

Subscribe: OrderbookService.SubscribeSettlements, or Poll: SettlementService.GetSettlementStatus(settlement_id = proposal_id) for authoritative step-by-step state.

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Sell via RFQ

Same as RFQ buy, but with direction = "sell" and quantity equal to the base amount you want to sell.
  1. Choose a market (GetMarkets → market_id)
  2. Request quotes (direction = "sell", quantity = base to sell)
  3. Review quotes (price, quote_quantity, valid_until, deadlines, fee estimate)
  4. Accept a quote (AcceptQuote → save proposal_id)
  5. Track settlement (SubscribeSettlements or GetSettlementStatus)

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Buy via limit order (CLOB)

Goal: place a bid at your price and get filled when counterparties trade there.

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Step 1. Read the book

Call OrderbookService.GetOrderbookDepth and/or OrderbookService.GetMarketData.

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Step 2. Submit a bid

Call OrderbookService.SubmitOrder with:
  • order_type = ORDER_TYPE_BID
  • price and quantity (base)
  • optional time_in_force and expires_at

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Step 3. Monitor fills

Submit OrderbookService.SubscribeOrders or OrderbookService.GetOrders.

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Step 4. Cancel if needed

Use OrderbookService.CancelOrder(order_id).

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Step 5. Track settlement for matched fills

Use OrderbookService.SubscribeSettlements or SettlementService.GetSettlementStatus.

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Sell via limit order (CLOB)

Same as limit buy, but submit order_type = ORDER_TYPE_OFFER in Step 2.

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How to know a trade is complete

A trade is complete when its settlement proposal is settled (not just “accepted” or “in progress”).
  • Orderbook view: SubscribeSettlements / GetSettlementProposals
  • Settlement view (authoritative): SettlementService.GetSettlementStatus

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Common pitfalls

  1. FQ direction is always from the requester’s perspective.
  2. Сheck balances and keep a CC reserve for fees.
  3. Don’t accept after valid\_until.
  4. Respect minimum sizes and tick sizes from GetMarkets.