Smart Contract Overview
Sera Protocol consists of several interconnected smart contracts deployed on Ethereum.
Contract Addresses (Sepolia Testnet)
| Contract | Address |
|---|
| Market Router | 0x82bfe1b31b6c1c3d201a0256416a18d93331d99e |
| Market Factory | 0xe54648526027e236604f0d91413a6aad3a80c01e |
| Order Canceller | 0x53ad1ffcd7afb1b14c5f18be8f256606efb11b1b |
These are Sepolia testnet addresses. Mainnet addresses will be different.
Architecture
┌─────────────────────┐
│ Market Router │
│ │
│ Entry point for │
│ all trading ops │
└──────────┬──────────┘
│
┌────────────────┼────────────────┐
▼ ▼ ▼
┌─────────────────┐ ┌─────────────────┐ ┌─────────────────┐
│ OrderBook A │ │ OrderBook B │ │ OrderBook C │
│ (EURC/USDC) │ │ (XSGD/USDC) │ │ (XSGD/USDT) │
└────────┬────────┘ └────────┬────────┘ └────────┬────────┘
│ │ │
▼ ▼ ▼
┌─────────────────┐ ┌─────────────────┐ ┌─────────────────┐
│ PriceBook A │ │ PriceBook B │ │ PriceBook C │
│ │ │ │ │ │
│ minPrice: X │ │ minPrice: Y │ │ minPrice: Z │
│ tickSpace: A │ │ tickSpace: B │ │ tickSpace: C │
└─────────────────┘ └─────────────────┘ └─────────────────┘
Core Contracts
Market Router
The primary entry point for all trading operations. Users should interact with the Router rather than OrderBooks directly.
Key Functions:
limitBid / limitAsk - Place limit ordersmarketBid / marketAsk - Execute market ordersclaim - Claim proceeds from filled orders
View Router Reference →
OrderBook
Each trading pair has its own OrderBook contract that:
- Stores all open orders
- Matches incoming orders against the book
- Tracks order fills and claimable amounts
Key Functions:
getDepth - Get order depth at a price levelgetOrder - Get order detailsbestPriceIndex - Get best bid/ask pricegetClaimable - Check claimable proceeds
View OrderBook Reference →
PriceBook
Handles price calculations using the arithmetic price formula:
price = minPrice + (tickSpace × priceIndex)
indexToPrice - Convert price index to actual pricepriceToIndex - Convert price to nearest indexmaxPriceIndex - Get maximum supported index
View PriceBook Reference →
Order Canceller
A utility contract for batch cancelling orders across multiple markets.
Address (Sepolia): 0x53ad1ffcd7afb1b14c5f18be8f256606efb11b1b
Key Functions:
cancel(params[]) - Cancel orders and return tokens to callercancelTo(params[], to) - Cancel orders and send tokens to specified address
Orders are identified by their NFT token ID, which you can get from the Orders GraphQL query (nftId field).
View Order Canceler ABI →
Token Flow
Placing a Bid (Buy Order)
User Router OrderBook
│ │ │
│ approve(router, amt) │ │
│───────────────────────▶│ │
│ │ │
│ limitBid(params) │ │
│───────────────────────▶│ transferFrom(user) │
│ │─────────────────────────▶│
│ │ │
│ │ limitOrder(...) │
│ │─────────────────────────▶│
│ │ │
│ ◀─────────────────────│ orderId │
│ │◀─────────────────────────│
Claiming Proceeds
User Router OrderBook
│ │ │
│ claim(params) │ │
│───────────────────────▶│ claim(orderKeys) │
│ │─────────────────────────▶│
│ │ │
│ │ transfer(user, tokens) │
│ │◀─────────────────────────│
│ ◀─────────────────────│ │
Gas Optimization
Sera is optimized for gas efficiency:
| Operation | Typical Gas |
|---|
| Limit Order (make only) | ~150,000 |
| Limit Order (take + make) | ~200,000 |
| Market Order | ~120,000 |
| Claim Single Order | ~80,000 |
| Cancel Order | ~60,000 |
Use claim with multiple orders in a single transaction to save gas on batch claiming.
Security Considerations
- Always approve only what you need or use permit signatures
- Check the deadline parameter to prevent stale transactions
- Use postOnly for maker orders to avoid unexpected fills
- Set reasonable limitPriceIndex for market orders to prevent sandwich attacks
Next Steps
