Introduction
Silvana Book is a private orderbook designed for high-performance trading on Canton, combining ultra-fast off-chain order matching with secure, atomic on-chain settlement. It enables market participants to trade with full asset control, strong privacy guarantees, and deterministic execution, without exposing orders or strategies to the public network.Basic Principles and Advantages
Privacy by Default
Order matching runs in a private environment. Trading activity, balances, and strategies are not publicly visible, preventing information leakage and external interference. This is particularly critical for enterprises and corporate traders seeking to keep their operations confidential to avoid frontrunning, unwanted market fluctuations, third-party arbitrage, or MEV-seeking attempts.Ultimate Security
By leveraging Canton’s DvP execution flow, Silvana Book ensures secure trading. Both parties execute their respective parts of the transaction, and assets are transferred only when all conditions are met.If any party fails to fulfil its contractual obligations, the transaction will not be finalized and will be rolled back.
Full Asset Control
No assets are escrowed during matching. If any party fails to meet settlement conditions, the transaction is rolled back, and balances remain unchanged, ensuring non-custodial safety, Silvana Book.Assets never leave a party’s wallet, which effectively means parties retain directcontrol of their assets until a transaction is finalized.
Ultra-Fast Agentic Execution
Bid and ask orders are matched off-chain using an optimistic state, allowing near-instant execution (< 1s), while final settlement is confirmed later on the Canton Silvana Book. All operations are carried out by autonomous off-chain agents that automate the orderflow.No Slippage
Orders are settled at the intended price. Since matching is private and isolated from public order flow, there is no market impact or external price pressure, Silvana Book.No Pools
DvP handles swaps and other operations without pools that rules out serious threats and vulnerabilities associated with pool trading, such as loss of custody or control over assets, price manipulation, MEV exploitation, liquidity and market risks, etc.How It Works
Below is an example of Silvana Book’s basic user flow:- User gets USDCx on Canton using Loop Wallet’s USDCx bridge.
- User places a bid order for CC or any other CIP-56 token on Canton.
- Order transaction runs with settlement, whereas the User retains full control over the traded assets in real time until finalization.
Solution and Design
The system separates execution from settlement:- Order matching happens off-chain inside a private matching engine.
- Bids and asks are matched off-chain via agents. Upon matching, an optimistic state is generated.
- Settlement occurs on Canton, using a Delivery-versus-Payment (DVP) flow, under which assets are swapped simultaneously when both parties create their token allocations.
