KR102446990B1 - Method for providing liquidity between heterogeneous key asset based homogeneous cryptocurrencies and apparatus thereof - Google Patents

Abstract

The embodiment relates to a method and apparatus for providing liquidity between peer cryptocurrencies based on heterogeneous backbone assets. The cryptocurrency trading method performed in the applied exchange that trades the first cryptocurrency as the first key asset according to an embodiment includes the steps of selecting an interlocking exchange that trades the first cryptocurrency as the second key asset, the first key asset and determining a Bid-Ask reference price between the key assets and a liquidatable size limit of the second key asset based on the first transaction information between the key asset and the second key asset; generating third transaction information between the first cryptocurrency and the first key asset by converting the second transaction information between the cryptocurrency and the second key asset; based on the third transaction information, the first key asset in the applied exchange Concluding a transaction of the first cryptocurrency using

Description

METHOD FOR PROVIDING LIQUIDITY BETWEEN HETEROGENEOUS KEY ASSET BASED HOMOGENEOUS CRYPTOCURRENCIES AND APPARATUS THEREOF

The following embodiments relate to a method and apparatus for providing liquidity between heterogeneous key asset-based homogeneous cryptocurrencies.

Cryptocurrency is a compound word of 'crypto-' meaning 'encryption' and 'currency' meaning currency and currency. It is a digital asset that can easily prove ownership using Due to the nature of these cryptocurrencies being traded on various key stocks around the world, there is always a price error despite being the same asset.

The embodiment may unify the prices of cryptocurrencies that are traded at different prices with various key stocks into a single price within a specific range, and integrate liquidity for each exchange to provide users with it.

The cryptocurrency trading method according to one side is a cryptocurrency trading method performed in an applied exchange that trades a first cryptocurrency as a first key asset, the first cryptocurrency among at least one other exchange that is distinguished from the applied exchange selecting an exchange for trading with a second key asset different from the first key asset; Based on the first transaction information between the first reserve asset and the second reserve asset, a Bid-Ask reference price between the first reserve asset and the second reserve asset and a liquidation size limit of the second reserve asset are determined to do; By converting the second transaction information between the first cryptocurrency and the second reserve asset based on the Bid-Ask reference price and the size limit, the third transaction information between the first cryptocurrency and the first reserve asset generating; Concluding a transaction of the first cryptocurrency using the first key asset in the applied exchange based on the third transaction information; and concluding a transaction of the first cryptocurrency using the second key asset in the linked exchange in response to the transaction concluded in the applied exchange.

The first transaction information may include the quotations and the transaction volume of the second key asset and the quoted price of the second key asset calculated as the first key asset.

The transaction volume of the second key asset may include trading volumes per quote price of the second key asset corresponding to each of the quote prices of the second key asset.

The step of determining the Bid-Ask reference price and the liquidation size limit of the second reserve asset is based on a predetermined safety margin and the quotes of the second reserve asset in the first transaction information, the first reserve asset and determining a Bid-Ask reference price between the second key asset; And based on the Bid-Ask reference price and the transaction volume of the second reserve asset in the first transaction information, it may include the step of determining the liquidation possible size limit of the second reserve asset.

The determining of the Bid-Ask reference price may include: determining a Bid reference price of the Bid-Ask reference price based on the safety margin and the highest bid price of the second key asset; And based on the safety margin and the highest asking price of the second key asset, it may include determining the Ask reference price of the Bid-Ask reference price.

The step of determining the size limit is based on the transaction volume of the second reserve asset between the highest bid price of the second reserve asset and the Bid reference price of the Bid-Ask reference price, determining a liquidable size limit; And based on the trading volume of the second reserve asset between the highest asking price of the second reserve asset and the Ask reference price of the Bid-Ask reference price, determining the liquidation size limit of the second reserve asset for sale may include steps.

The generating of the third transaction information includes: generating first quote prices of the first cryptocurrency calculated as the first key asset; and generating transaction volumes per first call price of the first cryptocurrency corresponding to the first quote prices of the first cryptocurrency.

The step of generating the first bid prices of the first cryptocurrency is based on the Bid-Ask reference price and a predetermined safety margin, the second value of the first cryptocurrency calculated as the second key asset in the second transaction information. by converting the two bid prices, generating first bid prices of the first cryptocurrency.

The second transaction information is the second quote price of the first cryptocurrency calculated as the second key asset; and transaction volumes per second quote price of the first cryptocurrency corresponding to each of the second quote prices.

The generating of the trading volumes per first call price of the first cryptocurrency may include: downscaling the trading volumes per second call price of the first cryptocurrency based on a predetermined reduction ratio; and converting the transaction volumes per second call of the downscaled first cryptocurrency based on the size limit, thereby generating the transaction volumes per first call of the first cryptocurrency.

The step of generating the transaction volumes per first quote price of the first cryptocurrency includes: calculating the converted quantities of the second key asset corresponding to the second quote prices based on the second transaction information; selecting the transaction volume per second quote price, the application of which is restricted in generating the transaction volume per first quote price, based on the converted quantities and the size limit; and converting the transaction volume per the selected second call price to a predetermined minimum value, thereby generating the transaction volume per first call price of the first cryptocurrency.

In the step of generating the transaction volumes per first call price of the first cryptocurrency, the transaction volume per second call price exceeding a predetermined maximum value among the transaction volumes per second call is converted into the maximum value, whereby the first cryptocurrency generating trading volumes per first call of ; and converting the transaction volume per second call price, which is less than a predetermined minimum value among the transaction volumes per second call, into the minimum value, thereby generating the transaction volumes per first call price of the first cryptocurrency. have.

The step of concluding the transaction of the first cryptocurrency using the second key asset in the linked exchange is the first cryptocurrency sold in the applied exchange when a transaction to sell the first cryptocurrency is concluded in the applied exchange. in response to the amount of, buying the first cryptocurrency in the linked exchange; and when a transaction to purchase the first cryptocurrency is concluded in the applicable exchange, selling the first cryptocurrency in the linked exchange in response to the amount of the first cryptocurrency purchased in the applied exchange. can

The cryptocurrency trading method may further include concluding a transaction between the first key asset and the second key asset based on the transaction concluded in the applied exchange and the transaction concluded in the linked exchange.

The step of concluding the transaction of the first cryptocurrency using the second key asset in the linked exchange is when the transaction is not concluded in the linked exchange at a predetermined time interval in the linked exchange using the second key asset. It may include the step of re-concluding the transaction of the first cryptocurrency.

The step of concluding the transaction of the first cryptocurrency using the first key asset in the applied exchange is based on the amount of the first cryptocurrency that can be traded in the linked exchange. Concluding the transaction of the first cryptocurrency may include steps.

The server according to one side trades the first cryptocurrency as a second key asset different from the first key asset among at least one other exchange that is distinguished from the applicable exchange that trades the first cryptocurrency as a first key asset. Select an exchange, and based on the first transaction information between the first reserve asset and the second reserve asset, the Bid-Ask reference price between the first reserve asset and the second reserve asset and the liquidation of the second reserve asset By determining a possible size limit and converting second transaction information between the first cryptocurrency and the second reserve asset based on the Bid-Ask reference price and the size limit, the first cryptocurrency and the first reserve asset Generate third transaction information between assets, and execute a transaction of the first cryptocurrency using the first key asset in the applicable exchange based on the third transaction information, and respond to the transaction concluded in the applicable exchange to conclude the transaction of the first cryptocurrency using the second key asset in the linked exchange, it includes at least one processor.

The first transaction information may include the quotations and the transaction volume of the second key asset and the quoted price of the second key asset calculated as the first key asset.

The transaction volume of the second key asset may include trading volumes per quote price of the second key asset corresponding to each of the quote prices of the second key asset.

The processor, in determining the Bid-Ask reference price and the liquidation size limit of the second reserve asset, based on a predetermined safety margin and the quotations of the second reserve asset in the first transaction information, determine a Bid-Ask reference price between the first reserve asset and the second reserve asset, and based on the Bid-Ask reference price and the transaction volume of the second reserve asset in the first transaction information, the second reserve asset You can decide on a size limit that can be liquidated.

The processor, in generating the third transaction information, generates first bid prices of the first cryptocurrency calculated as the first key asset, and the first bid prices corresponding to the first bid prices of the first cryptocurrency The first issue of 1 cryptocurrency can generate per transaction volume.

A user of a service that provides liquidity of the same type of cryptocurrency based on a heterogeneous key asset according to the embodiment minimizes the price error caused by the difference in the key axis in the cryptocurrency transaction, thereby obtaining a high level of trading convenience.

In addition, the operator of a service that provides liquidity of the same type of cryptocurrency based on heterogeneous key assets according to the embodiment is a DR (Depository Receipt) used for arbitrage between different key assets in the existing stock market due to the characteristics of cryptocurrency that can be traded 24 hours a day. ), you can aim for a substantially risk-free arbitrage transaction with a lower risk of price fluctuations due to time lag.

1 is a diagram for explaining a Bid-Ask reference price.
2 is an example of an order screen used to exchange BTC reserve assets and KRW reserve assets with each other.
3 is an example of an order screen used to trade ETH cryptocurrency as a BTC key asset in a linked exchange.
4 is a view for explaining a method of calculating the quotes of the order book reflected in the applied exchange according to an embodiment.
5 is a diagram for explaining a method of calculating a transaction volume of an order book reflected in an applied exchange according to an embodiment;
6A and 6B are diagrams for explaining a transaction method for liquidation according to an embodiment when a transaction for an interlocked pair occurs in an exchange applied to FIGS. 6A and 6B .
7 is a flowchart of a cryptocurrency trading method performed in an applied exchange according to an embodiment.

Hereinafter, embodiments will be described in detail with reference to the accompanying drawings. However, since various changes may be made to the embodiments, the scope of the patent application is not limited or limited by these embodiments. It should be understood that all modifications, equivalents and substitutes for the embodiments are included in the scope of the rights.

Terms used in the examples are used for the purpose of description only, and should not be construed as limiting. The singular expression includes the plural expression unless the context clearly dictates otherwise. In the present specification, terms such as “comprise” or “have” are intended to designate that a feature, number, step, operation, component, part, or combination thereof described in the specification exists, but one or more other features It is to be understood that this does not preclude the possibility of the presence or addition of numbers, steps, operations, components, parts, or combinations thereof.

Unless defined otherwise, all terms used herein, including technical or scientific terms, have the same meaning as commonly understood by one of ordinary skill in the art to which the embodiment belongs. Terms such as those defined in a commonly used dictionary should be interpreted as having a meaning consistent with the meaning in the context of the related art, and should not be interpreted in an ideal or excessively formal meaning unless explicitly defined in the present application. does not

In addition, in the description with reference to the accompanying drawings, the same components are assigned the same reference numerals regardless of the reference numerals, and the overlapping description thereof will be omitted. In the description of the embodiment, if it is determined that a detailed description of a related known technology may unnecessarily obscure the gist of the embodiment, the detailed description thereof will be omitted.

In addition, in describing the components of the embodiment, terms such as first, second, A, B, (a), (b), etc. may be used. These terms are only for distinguishing the elements from other elements, and the essence, order, or order of the elements are not limited by the terms. When it is described that a component is “connected”, “coupled” or “connected” to another component, the component may be directly connected or connected to the other component, but between each component another component It will be understood that may also be "connected", "coupled" or "connected".

Components included in one embodiment and components having a common function will be described using the same names in other embodiments. Unless otherwise stated, descriptions described in one embodiment may be applied to other embodiments as well, and detailed descriptions within the overlapping range will be omitted.

The liquidity provision service between cryptocurrencies of the same type with different key assets according to an embodiment can create a trading environment so that a single cryptocurrency has a single price in the world. As for the liquidity supply service between these heterogeneous key assets, the value-fixed cryptocurrency that can be used as a key axis appears and the scope is expanding, and the applicable range of the service is also gradually expanding. Key assets may include real money and cryptocurrencies, for example, Korean won (KRW), USDt, BTC, ETH, and the like. Hereinafter, the stock asset may be briefly referred to as a 'base stock'.

The main contents of services that provide liquidity based on heterogeneous key assets are as follows.

1) Establishment of an exchange that provides liquidity between different key stocks (hereafter, 'applied exchange')

2) Set up exchanges and pairs that bring liquidity between heterogeneous key axes (hereinafter, 'linked exchange' and 'linked pair')

3) Set the liquidity limit reflected in the bid-ask standard price between different key axes and the applicable exchange

4) Provide liquidity based on margin of safety

5) Real-time liquidation according to the transaction

6) Securing the stability of liquidity supply through continuous risk management

1) Setting up an applicable exchange that provides liquidity between different key stocks

The applicable exchange to which liquidity is supplied may correspond to an exchange to which a service providing liquidity based on heterogeneous key assets according to an embodiment is applied. For example, the applied exchange may correspond to a cryptocurrency exchange that trades the cryptocurrency ETH as a key asset, the Korean Won (KRW).

In order to supply smooth liquidity to the applicable exchanges and to unify the price difference of linked pairs that occur due to different bases into a single price, it may be necessary to preemptively apply the liquidity provision service between currencies of the same kind with the same base. However, if the bid/ask price is sufficiently formed in the applicable exchange, preemptive application of the liquidity provision service between currencies with the same key stock may not be required.

2) Linked exchange and linked pair setting

The linked pair that wants to bring liquidity and the linked exchange that is the standard for bringing liquidity for the linked pair are selected. The linked pair is a pair of cryptocurrencies and key assets, and the cryptocurrencies constituting the linked pair may be determined as cryptocurrencies commonly traded in the applied exchange and the linked exchange.

For example, if you want to link the liquidity of the C cryptocurrency traded in the BTC reserve market of Exchange A to the cryptocurrency C traded in the KRW reserve market of Exchange B, Exchange B is the applicable exchange that provides liquidity, A The exchange is an interlocking exchange that brings liquidity, and the C cryptocurrency forms an interlocking pair that is the subject of liquidity provision based on heterogeneous key assets.

For the safety of the deposited assets, the safety and continuity of the transaction service can be included as criteria for selecting the linked exchange, and the volatility of cryptocurrency and the safety of the network can be used as the criteria for selecting the linked pair.

The purpose of the cryptocurrency volatility is to select the pair with the highest asset efficiency by performing a back-test on the pair. Here, backtest refers to the process of calculating the difference in price change of the same type of cryptocurrency traded as a heterogeneous key asset. In addition, asset efficiency refers to the ratio of the size of the transaction amount generated by the service to the size of the assets required to provide the service. The size of the transaction amount is linked to the size of the arbitrage transaction of the service operator, which can contribute to improving the safety of the service.

If the safety of the network is high, speed and convenience can increase in the process of balancing the balance, which is a factor that can have a positive effect on asset efficiency.

Hereinafter, a case where the applicable exchange is an exchange that trades ETH in KRW, and the linked exchange is an exchange that trades ETH in BTC will be described as an example. In other words, the key asset of the applicable exchange is KRW, the key asset of the linked exchange is BTC, and ETH is traded as each key asset in the applicable exchange and the linked exchange. The interlocking pair in is ETH/BTC.

3) Set the liquidity limit reflected in the Bid-Ask standard price and liquidity applied exchange between key axes

If the applicable exchange, the linked exchange, and the linked pair are selected, then it is necessary to set the bid-ask standard price between key assets for interlocking. In order to link and provide liquidity between the same types of currencies with different key stocks, it is necessary to set the bid-ask standard price between the standard assets before liquidity can be supplied for the same type of cryptocurrencies that are traded based on different key assets. Because.

The bid-ask standard price between key assets is a price for buying and selling one key asset as another key asset, and may be determined by the supply and demand of the market in which the key asset is traded. In a pair of base currency and counter currency, the Bid-Ask base price is the Bid base price, which is the price of the counterpart currency for buying a specific unit of base currency, and the relative price for selling a specific unit of the base currency. It is composed of the Ask base price, which is the price of the currency. 1 is a diagram for explaining the Bid-Ask reference price, and when the reference currency is Euro (EUR) and the counterpart currency is USD, the Bid-Ask reference price is displayed. Referring to FIG. 1 , the buying price of 1 euro is 1.0661 dollars, and the selling price of 1 euro is 1.0664.

The bid-ask reference price may be defined as a practically tradable effective price. If the current price of the ratio between the key assets (for example, the current price of BTC/KRW, USDt/KRW) is used instead of the bid-ask reference price based on the effective price, the settlement between the key assets is not performed properly, so stable real-time liquidation cannot be achieved. The possibility becomes very high, and this is a factor that can negatively affect the smooth liquidity supply.

The bid-ask reference price calculated by the bank and the bid-ask reference price calculated in the examples are similar only in announcing the difference in the bid-ask exchange rate between currencies, but their purpose and principle are different. For example, the bid-ask reference price calculated by the bank is for the purpose of realizing foreign exchange, but the bid-ask reference price calculated in the example is the same as the smooth supply of liquidity in services that provide liquidity based on heterogeneous key assets. It aims to unify the price of cryptocurrency into a single price within a specific range. Therefore, after setting the liquidity limit, the Bid-Ask reference price is not calculated, but the size of the reserve asset that can be liquidated retrospectively after the Bid-Ask reference price is calculated.

2 is an example of an order screen used to exchange BTC reserve assets and KRW reserve assets with each other. More specifically, FIG. 2 shows an example of an order book with BTC as the base currency and KRW as the counterpart currency under a trading environment between key assets, and the BTC/KRW order book includes ask prices, bid prices and Shows the trading volume per bid at each bid price. The trading volume per quote price is the amount in which the base currency is traded at the corresponding quote price, and can be expressed in units of the base currency. For example, referring to FIG. 2 , the amount of BTC being bought at 12872,000 won per 1 BTC is 1.2 BTC.

The order of calculating the bid-ask reference price between key assets under the trading environment between key assets as shown in FIG. 2 is as follows.

Set the level of margin of safety for smooth liquidity supply in the service. The safety margin can be set automatically according to specific criteria or set to a pre-specified value. For example, when the applicable exchange and the linked exchange are determined, the safety margin may be determined according to the fee of the linked exchange and the fee of the applied exchange.

For example, if 0.35% is set as the safety margin, 0.175% of which is half of the bid-ask price between the key assets is calculated by adjusting the highest bid price (201) and the highest bid price (202) in the trading market between key assets. used to do Here, 0.175% can be used to cover fees and slippages that occur in balancing the imbalance between key assets that occur as a result of liquidity supply.

In Fig. 2, when the safety margin is set to 0.35%, the Ask reference price is 12,952,000*(1+0.00175) = 12,974,666 won, which is an additional upward adjustment of the highest bid price (201), and the Bid reference price is the highest bid price (202) It is estimated to be 12,872,000*(1-0.00175)=12,849,474 won, further downgraded.

After the bid-ask base price is calculated, the size of liquidity provision can be limited by clarifying the size of the stock assets that can be actually liquidated.

In Figure 2, 1.35 BTC exists between the highest bid price (202) of 12,872,000 won and the bid standard price of 12,849,474 won, and 1.35 BTC exists between the highest bid price (201) of 12,952,000 won and the ask standard price of 12,974,666 won. In this case, the size of the liquidated reserve asset for each sale and purchase is calculated as 1.35 BTC. The size of the liquidable reserve asset may be the limit of the liquidity provided to the linked pair.

Since the status of the order book for the linked pair of the linked exchange and the status of the order book between key assets are constantly changing, data collection close to real time is required for smooth liquidity supply.

4) Provide liquidity based on margin of safety

After the pair selection of the linked exchange and the calculation of the bid-ask standard price, the total amount of linked pairs brought from the linked exchange can be determined according to the size of the key asset that can be liquidated.

Through this, only the quantity of linked pairs, which is limited to the size of the stock market that can be liquidated, is reflected in the order book of the applicable exchange, minimizing the open position risk in real-time liquidation between key assets. Open position risk refers to the risk of asset imbalance due to non-liquidation between key assets after the order of the applicable exchange and the order of the linked exchange are submitted.

3 is an example of an order screen used to trade ETH cryptocurrency as a BTC key asset in the linked exchange. More specifically, FIG. 3 shows an example of an order book of a linked pair (ETH/BTC) under an environment in which ETH cryptocurrency is traded as a BTC key asset, and the order book of ETH/BTC is asking prices and asking prices. Shows the trading volume per bid at each bid and ask price.

When the order book status of the linked pair in the linked exchange according to an embodiment is as shown in FIG. 3, the order of determining the total amount of the linked pair brought from the linked exchange according to the size of the liquidable key asset is as follows.

In the linked exchange, the BTC conversion quantity, which is the conversion of the ETH trading volume presented in the order book of the linked pair, into BTC units, is accumulated for each order type (sell, buy) to calculate the accumulated BTC converted quantity. For quotations where the accumulated BTC conversion quantity does not exceed the size of the liquidable key asset, the exchange rate of the interlocked pair is determined by reflecting the transaction volume of the interlocked pair at the indexed exchange, and the accumulated BTC conversion quantity is the amount of the liquidatable key asset For a quote that does not exceed the size, the trading volume of the linked pair may be determined at the applicable exchange with a predetermined value.

The BTC conversion quantity is a value calculated by multiplying each quote price by the transaction volume per quote price. If the order type is Sell, the accumulated BTC conversion quantity is calculated by accumulating the BTC conversion quantity from the highest bid price to the higher bid price. It is calculated by cumulative summing the quantities.

Referring to FIG. 3 , in each column, the asking price, the transaction volume per the asking price, the BTC conversion quantity of the asking price, the accumulated BTC conversion quantity, and the scale-down conversion quantity are displayed. The BTC equivalent quantity is calculated by multiplying the relevant bid price by the transaction volume per bid price, and the cumulative BTC equivalent quantity is calculated by accumulating the BTC equivalent quantity from the BTC equivalent of the highest asking price (301) in the case of a sale in the direction of increasing the asking price. , in the case of purchase, it is calculated by accumulating the BTC conversion quantity from the BTC conversion quantity of the highest bid price 302 in the direction in which the bid price decreases. For example, the cumulative BTC equivalent quantity (1.0764048) of the asking price (311) is the cumulative BTC equivalent quantity (1.03559) of the asking price (312) one step lower than the asking price (311) BTC equivalent quantity (0.0408148) of the asking price (311) ), and the cumulative BTC equivalent quantity (0.50244124) of the bid price 321 is the BTC equivalent quantity of the bid price 321 (0.48917524) of the bid price 322 one step higher than the bid price 321. (0.013266) is added.

Since the accumulated BTC equivalent amount from the top bid price to the ask price of 0.00000614 ETH/BTC does not exceed 1.35 BTC, the size of the liquidated reserve asset, the corresponding bid price of ETH/BTC from the top ask price to the ask price of 0.00000614 ETH/BTC The trading volume can be reflected in the applicable exchange. On the other hand, at the asking price of 0.00000615 ETH/BTC, the accumulated BTC conversion quantity exceeds 1.35 BTC, the size of the reserve asset that can be liquidated at 4.55 BTC, so the trading volume per bid price of 0.00000615 ETH/BTC cannot be fully reflected in the applicable exchange. For a quote in which the accumulated BTC conversion quantity exceeds the size of the liquidable reserve asset, the predetermined minimum value may be reflected in the trading volume per quote price of the applicable exchange instead of the trading volume per quote price of the linked exchange.

Referring to FIG. 3 , the scale-down conversion quantity may be used to reduce the trading volume per quote price of the order book of the linked exchange according to a specific ratio in order to reduce the open position and reflect it in the applied exchange. The scale-down ratio that reduces the transaction volume per quote price of the order book of the linked exchange by a specific ratio may be set to a value in consideration of the operable budget range. The scale-down conversion quantity shown in FIG. 3 is a value obtained by multiplying the trading volume per quote price of the linked exchange order book by 0.8, with the scale-down ratio being 80%, and the accumulated BTC conversion quantity is calculated. Downscaling the transaction volume of the linked exchange order book is for smooth liquidity supply, and the risk of liquidity provision service can be managed by adjusting the scale-down ratio. Downscaling for risk management will be described later in 5) Securing liquidity supply stability through continuous risk management.

The form of the order book reflected in the applicable exchange can be calculated through the Bid-Ask reference price and the size of the liquidated reserve assets calculated based on the calculated Bid-Ask reference price. It may include calculating the quotations of the order book and the transaction volume per quotation corresponding to each quotation price.

4 is a diagram for explaining a method of calculating quotations of an order book reflected in an applied exchange according to an embodiment. Referring to FIG. 4 , the asking price of the linked pair in the linked exchange may be multiplied by the ask reference price and the ratio (1+0.00175) according to the safety margin to calculate the asking price of the linked pair in the applied exchange. In addition, the bid price of the linked pair in the linked exchange can be multiplied by the ratio (1-0.00175) according to the Bid reference price and the safety margin to calculate the bid price of the linked pair in the applied exchange. It was previously explained that half of the safety margin is used in the calculation of the bid-ask reference price. The other half, 0.175%, is applied to the price calculation of the linked pair traded at the applicable exchange, and can be used to cover fees and slippage when liquidating the linked pair at the linked exchange.

5 is a diagram for explaining a method of calculating a transaction volume of an order book reflected in an applied exchange according to an embodiment. Referring to FIG. 5 , the size of the liquidable key asset calculated based on the Bid-Ask reference price may be used to calculate the transaction volume of the order book reflected in the applied exchange. According to an embodiment, the transaction volume of the order book reflected in the applied exchange may be determined based on a scale-down ratio, a maximum value per bid price, and a minimum value per bid price.

If the calculated accumulated BTC conversion quantity does not reach the liquidationable reserve asset size limit, the transaction volume per quote price of ETH/BTC can be reflected in the order book of the applicable exchange, and the accumulated BTC conversion amount is the liquidation reserve asset size limit If it exceeds, the transaction volume per bid price may be reflected in the order book of the applicable exchange as the minimum value per bid price.

Alternatively, if the scale-down is applied to the trading volume per ETH/BTC asking price, and the scale-down conversion quantity calculated in FIG. 3 does not reach the size limit of the liquidable key asset, the scaled-down ETH/BTC trading volume per quote price is applied It can be reflected in the order book of the exchange, and when the scale-down conversion quantity exceeds the size limit of the liquidated stock assets, the transaction volume per bid price can be reflected in the order book of the applicable exchange at the minimum value per bid price.

If the trading volume per quote price of ETH/BTC exceeds the maximum per quote price, the maximum volume per quote price may be reflected in the order book of the applicable exchange, and the trading volume per quote price of ETH/BTC per quote price If it is less than the minimum value, the transaction volume per bid price may be reflected in the order book of the applicable exchange as the minimum value per bid price.

Alternatively, if scale down is applied to the trading volume per quote price of ETH/BTC, and the trading volume per quote price of scaled down ETH/BTC exceeds the maximum value per quote price, the maximum value per quote may be reflected in the order book of the applicable exchange, and the scale If the trading volume per quote price of downed ETH/BTC is less than the minimum value per quote price, the minimum value per quote price may be reflected in the order book of the applicable exchange.

For example, referring to FIG. 5 , for a quote 501 in which the scale-down converted quantity calculated in FIG. 3 exceeds the size limit of 1.35, a minimum value of 10 per quote is applied, and in FIG. For the quotations 502, 503, and 505 that exceed the maximum per quotation of 50,000, the maximum value of 50,000 per quotation is applied. By being applied, the trading volume per quote price of the order book of the applicable exchange may be determined.

5) Real-time liquidation according to the transaction

Based on the order book of the linked pair in the applicable exchange, the user(s) can place an order for cryptocurrency trading. When an order for cryptocurrency trading occurs, the transaction ordered in the applicable exchange may be concluded, and the transaction for clearing may be concluded in the linked exchange. When a transaction for the linked pair occurs in the applicable exchange, the transaction sequence for clearing according to an embodiment may refer to FIGS. 6A and 6B .

Referring to FIG. 6A , when a user of the service purchases 1000 ETH in KRW at the applicable exchange, the transaction sequence for liquidation is as follows.

Step 1. The ETH of the applied exchange decreases by 1000, and the KRW corresponding to the price of 1000 ETH increases.

Step 2. Remove the open position for the linked pair by purchasing the same amount of ETH as the reduced ETH on the linked exchange.

Step 3. To settle between the reserve asset KRW increased in Step 1 and the reserve asset BTC decreased in step 2, purchase the decreased amount of the reserve asset BTC as the reserve asset KRW in the exchange market between the reserve assets due to the process of step 2. An exchange that purchases the reserve asset BTC can use an exchange that trades the reserve asset BTC and KRW, and can also use the applicable exchange.

Referring to FIG. 6B , when the user of the service sells 1000 ETH in KRW at the applicable exchange, the transaction sequence for liquidation is as follows.

Step 1. ETH of the applied exchange increases by 1000, and the KRW corresponding to the price of 1000 ETH decreases.

Step 2. Remove the open position for the linked pair by selling the same amount as the increased ETH on the linked exchange.

Step 3. In order to settle between the reserve asset KRW decreased in Step 1 and the reserve asset BTC increased in step 2, the increased amount of the reserve asset BTC due to the process of step 2 is sold as the reserve asset KRW in the stock exchange market.

When the order book transaction on the applicable exchange (hereinafter, 'main order') is concluded, the order corresponding to this order (hereinafter, 'reverse order') is processed on the linked exchange, and the key assets are settled according to the main order and reverse order An order (hereinafter, 'order to adjust key assets') may be processed. In the process, there are cases where you have to pay a fee for each exchange, so it is essential to have a clear understanding of the fee system. In addition, liquidity is provided because the main order, reverse order, and order to adjust key assets can be executed separately. The process of continuously adjusting the safety margin by analyzing the profit and loss for each case is essential for the stability of the company. In addition, in the process of liquidation, it is possible to induce an increase in the desired asset by adjusting the ratio between the stock assets.

6) Securing the stability of liquidity supply through continuous risk management

Risk management methods can be applied to services that provide liquidity based on heterogeneous key assets. For example, the following six risk management approaches can be applied.

1. Setting the size of liquidated stock assets: You can manage risks by limiting the total liquidity applied to the linked pair of the applicable exchange according to the size of the liquidable stock assets.

2. Scale down: By reducing the order book of the linked exchange by a certain percentage and reflecting it in the applicable exchange, it is possible to manage risk by reducing reverse orders submitted to the linked exchange.

3. Maximum value per quotation: By setting the maximum value per quotation reflected in the applicable exchange and limiting the size of orders submitted to the applicable exchange, the risk of non-execution of reverse orders on the linked exchange can be reduced.

4. Safety margin: By adjusting the safety margin that covers fees and slippage generated from reverse orders submitted to the linked exchange and orders that adjust key assets, you can manage risk.

5. Reorder: Open position risk can be managed by submitting reorders at specific time intervals when non-execution occurs in reverse orders and reserve asset adjustment orders.

6. Order cap: When this order is submitted at the applicable exchange, risk can be managed by identifying the assets of the linked exchange and setting the order cap so that only orders that can be reversed are submitted.

The service providing liquidity based on the above-described heterogeneous key assets may be performed in a device such as a server. An apparatus for providing a service providing liquidity based on heterogeneous key assets according to an embodiment may include at least one processor that performs an operation of the above-described service and a memory for storing data related to service provision. According to an embodiment, a service providing liquidity based on heterogeneous key assets may be applied to an exchange to provide service users with order books and transaction services related to cryptocurrencies and key assets.

7 is a flowchart of a cryptocurrency trading method performed in an applied exchange according to an embodiment.

According to an embodiment, the applied exchange is a cryptocurrency exchange that trades the first cryptocurrency as a first key asset, and may correspond to an applied exchange set as an exchange that provides liquidity between the above-described heterogeneous key stocks. The cryptocurrency trading method performed in the applicable exchange can correspond to the service that provides liquidity based on the above-mentioned heterogeneous key assets. The cryptocurrency trading method performed in the applied exchange according to an embodiment may be performed by a server that provides an exchange, and at least one processor included in the server performs each step of the cryptocurrency trading method according to the embodiment. can The server performing the cryptocurrency transaction method according to an embodiment may further include a memory for storing related data.

Referring to Figure 7, the cryptocurrency trading method performed in the applied exchange that trades the first cryptocurrency as a first key asset according to an embodiment is to select an interlocking exchange that trades the first cryptocurrency as a second key asset Step 710, based on the first transaction information between the first reserve asset and the second reserve asset, determining the Bid-Ask reference price between the reserve assets and the liquidation size limit of the second reserve asset (720), Bid - Generating third transaction information between the first cryptocurrency and the first reserve asset by converting the second transaction information between the first cryptocurrency and the second reserve asset based on the Ask reference price and size limit (730); Based on the third transaction information, the step 740 of concluding a transaction of the first cryptocurrency using the first key asset in the applied exchange, and the second key asset in the linked exchange in response to the transaction concluded in the applied exchange It may include a step 750 of concluding a transaction of the first cryptocurrency used.

The step 710 of selecting an interlocking exchange may correspond to a step of selecting an interlocking exchange that trades the first cryptocurrency as a second key asset different from the first key asset among at least one other exchange that is distinguished from the applied exchange. . The linked exchange and the applicable exchange are exchanges that trade the first cryptocurrency as a heterogeneous key asset, and the first cryptocurrency/first key asset and/or the first cryptocurrency/second key asset may correspond to the above-mentioned linked pair. can The step 710 of selecting the linked exchange may include selecting the linked exchange in consideration of the safety and continuity of the transaction service, the volatility of cryptocurrency, the safety of the network, and the like, as described above.

In the step 720 of determining the Bid-Ask reference price and liquidation size limit, the first transaction information may include the quotations of the second key asset calculated as the first key asset and the transaction volume of the second key asset, The transaction volume of the second reserve asset may include transaction volumes per quotation price of the second reserve asset corresponding to each of the quotation prices of the second reserve asset. The bid prices of the second key asset may include bid price(s) including the highest bid price and ask price(s) including the highest bid price. The first transaction information may be obtained from an exchange that trades the first key asset and the second key asset, and may include an order book of the second key asset / first key asset pair. In other words, the first transaction information may include an order book of the second key asset/first key asset obtained from an exchange that trades the second key asset as the base currency by using the first key asset as the counterpart currency.

According to one embodiment, step 720 is based on a predetermined safety margin and the quotes of the second reserve asset in the first transaction information, the Bid-Ask reference price between the first reserve asset and the second reserve asset It may include the step of determining. The bid-ask reference price between the first reserve asset and the second reserve asset is a bid-ask reference price determined by using the first reserve asset as the counterpart currency and the second reserve asset as the base currency, based on the first transaction information can be decided. More specifically, the step of determining the bid-ask reference price includes the steps of determining the bid reference price of the bid-ask reference price based on the safety margin and the highest bid price of the second key asset, and the safety margin and the second key asset based on the highest bid price of , determining an Ask reference price of the Bid-Ask reference price. For example, according to the method of calculating the Bid-Ask reference price between the key assets described above in FIG. 2 , it may include determining the Bid-Ask reference price between the first key asset and the second key asset.

According to an embodiment, the step 720 may include determining a liquidatable size limit of the second reserve asset based on the determined Bid-Ask reference price and the transaction volume of the second reserve asset in the first transaction information. can More specifically, the step of determining the liquidation size limit of the second reserve asset is based on the transaction volume of the second reserve asset between the highest bid price of the second reserve asset and the Bid reference price of the bid-ask reference price, Determining the liquidation size limit of the second reserve asset for selling determining a liquidable size limit of the reserve asset. For example, according to the method of calculating the size of the liquidation reserve asset described above in FIG. 2 , it may include determining the liquidation size limit of the second reserve asset with respect to the purchase and sale.

In the step 730 of generating the third transaction information, the third transaction information is transaction information for transacting the first cryptocurrency as the first key asset, and may include the asking price and the transaction amount of the first cryptocurrency. In other words, the third transaction information may include the transaction volumes per quotation of the first cryptocurrency corresponding to each of the quotations and the quotations of the first cryptocurrency calculated as the first key asset. The third transaction information may be generated in the form of an order book of the first cryptocurrency/first key asset.

The third transaction information may be generated based on the second transaction information between the first cryptocurrency and the second key asset. The second transaction information is transaction information for transacting the first cryptocurrency as the second key asset, and a first It may include trading volumes per quote of cryptocurrency. The third transaction information may include an order book of the first cryptocurrency/second key asset obtained from the linked exchange.

Hereinafter, in order to distinguish the second transaction information and the third transaction information, the third transaction information is the first quote price of the first cryptocurrency calculated as the first key asset and the transaction volume per the first price of the first cryptocurrency To include, the second transaction information is described as including the transaction volumes per second quote price of the first cryptocurrency calculated as the second key asset and the second quote price of the first cryptocurrency.

The step 730 of generating the third transaction information according to an embodiment may include generating the first quote prices of the first cryptocurrency calculated as the first key asset based on the Bid-Ask reference price.

According to one embodiment, the step of generating the first quote prices of the first cryptocurrency is based on the Bid-Ask reference price and the predetermined safety margin, the first cryptocurrency calculated as the second key asset in the second transaction information. by converting the second bid prices of , generating first bid prices of the first cryptocurrency. For example, generating the first quote prices of the first cryptocurrency may include a method of calculating the quote prices of the order book reflected in the applied exchange described above in FIG. 4 .

In the step 730 of generating the third transaction information according to an embodiment, based on the Bid-Ask reference price and size limit, the first quotation price of the first cryptocurrency corresponding to the first quotation prices of the first cryptocurrency generating trading volumes. For example, based on the second transaction information according to the method of determining the total amount of the linked pair brought from the linked exchange described above in FIG. 3, the converted quantities of the second key asset corresponding to the second quote prices are calculated and , for a quote price in which the accumulated converted quantity calculated by accumulating the calculated converted quantities does not exceed the liquidation size limit of the second key asset, the second quote price according to the second transaction information is reflected, and the first of the third information The trading volume per quote may be determined.

According to an embodiment, the accumulated conversion quantity of the second key asset may be calculated based on the downscaled second price per transaction volumes in which the transaction volumes per second call are reduced by a certain ratio. In other words, the step of generating the trading volumes per first call price of the first cryptocurrency is the step of generating the trading volumes per first call price of the first cryptocurrency based on the transaction volumes per second quote price of the downscaled first cryptocurrency. may include More specifically, based on the step of downscaling the transaction volumes per second call of the first cryptocurrency based on a predetermined reduction ratio, and based on the size limit, the second issue of the downscaled first cryptocurrency has the trading volume per transaction by converting them, the first issue of the first cryptocurrency may include generating per transaction volumes. For example, by using the scale-down conversion quantity described above in FIG. 3 , the transaction volume per second quotation price according to the second transaction information for a quotation price in which the scale-down conversion quantity does not exceed the liquidable size limit of the second key asset By reflection, the transaction amount per the first price of the third information may be determined.

According to one embodiment, the step of generating the transaction volumes per call price of the first cryptocurrency is based on the accumulated conversion quantities (or scale-down conversion quantities) and the size limit as described above in FIGS. 3 and 5, The step of selecting the transaction volume per second price, the application of which is limited to the generation of the trading volume per first price, and converting the selected second price per transaction volume to a predetermined minimum value, thereby generating the trading volumes per the first price of the first cryptocurrency may include steps. The predetermined minimum value may correspond to the minimum value per call price described above with reference to FIG. 3 or FIG. 5 .

According to an embodiment, in the step of generating the transaction volumes per call price of the first cryptocurrency, as described above with reference to FIG. 5 , the transaction volume per second call price exceeding a predetermined maximum value among the transaction volumes per second call price is set to the maximum value. By converting, the first issue of the first cryptocurrency may include generating per transaction volumes. The predetermined maximum value may correspond to the maximum value per call price described above with reference to FIG. 5 .

According to an embodiment, the step of generating the transaction volumes per call price of the first cryptocurrency is as described above in FIG. 5 , by converting the transaction volume per second call price that is less than a predetermined minimum value among the transaction volumes per second call to a minimum value. , the first issue of the first cryptocurrency may include generating per transaction volumes. The predetermined minimum value may correspond to the minimum value per call price described above with reference to FIG. 5 .

In response to the step 740 of concluding a transaction of the first cryptocurrency using the first key asset in the application exchange and the transaction concluded in the application exchange, the transaction of the first cryptocurrency using the second key asset in the linked exchange is concluded The step 750 may correspond to a step of executing the main order, the reverse order, and the order to adjust the reserve asset according to the transaction sequence for clearing described above in FIGS. 6A and 6B .

More specifically, when this order for the user to sell the first cryptocurrency at the applicable exchange is concluded, in response to the amount of the first cryptocurrency sold at the applicable exchange, a reverse order to buy the first cryptocurrency at the linked exchange This can be concluded. Alternatively, if this order to buy the first cryptocurrency at the applicable exchange is concluded, a reverse order to sell the first cryptocurrency at the linked exchange may be concluded in response to the amount of the first cryptocurrency purchased at the applicable exchange. . Based on the first and second reserve assets changed according to the main order and the reverse order, a trading order for the first and second reserve assets for adjusting the ratio of the first and second reserve assets is executed can be

The cryptocurrency trading method performed in the applied exchange according to an embodiment may further include a step for risk management. For example, according to the above-described reorder management method, if the transaction is not concluded in the linked exchange, reconcluding the transaction of the first cryptocurrency using the second key asset in the linked exchange at a predetermined time interval. can do. In addition, according to the above-described order cap management method, based on the amount of the first cryptocurrency that can be traded in the linked exchange, the method may further include the step of concluding a transaction of the first cryptocurrency.

The cryptocurrency trading method performed in the applied exchange according to an embodiment may further include adjusting parameters such as a safety margin, a scale-down ratio, a maximum value per quotation, and a minimum value per quotation for risk management.

The method according to the embodiment may be implemented in the form of program instructions that can be executed through various computer means and recorded in a computer-readable medium. The computer-readable medium may include program instructions, data files, data structures, etc. alone or in combination. The program instructions recorded on the medium may be specially designed and configured for the embodiment, or may be known and available to those skilled in the art of computer software. Examples of the computer-readable recording medium include magnetic media such as hard disks, floppy disks and magnetic tapes, optical media such as CD-ROMs and DVDs, and magnetic such as floppy disks. - includes magneto-optical media, and hardware devices specially configured to store and execute program instructions, such as ROM, RAM, flash memory, and the like. Examples of program instructions include not only machine language codes such as those generated by a compiler, but also high-level language codes that can be executed by a computer using an interpreter or the like. The hardware devices described above may be configured to operate as one or more software modules to perform the operations of the embodiments, and vice versa.

The software may comprise a computer program, code, instructions, or a combination of one or more thereof, which configures a processing device to operate as desired or is independently or collectively processed You can command the device. The software and/or data may be any kind of machine, component, physical device, virtual equipment, computer storage medium or device, to be interpreted by or to provide instructions or data to the processing device. , or may be permanently or temporarily embody in a transmitted signal wave. The software may be distributed over networked computer systems and stored or executed in a distributed manner. Software and data may be stored in one or more computer-readable recording media.

As described above, although the embodiments have been described with reference to the limited drawings, those skilled in the art may apply various technical modifications and variations based on the above. For example, the described techniques are performed in a different order than the described method, and/or the described components of the system, structure, apparatus, circuit, etc. are combined or combined in a different form than the described method, or other components Or substituted or substituted by equivalents may achieve an appropriate result.

Therefore, other implementations, other embodiments, and equivalents to the claims are also within the scope of the following claims.

Claims (20)

In the cryptocurrency trading method performed in a server that provides an applied exchange that trades the first cryptocurrency as a first key asset,
selecting an interlocking exchange that trades the first cryptocurrency with a second key asset different from the first key asset among at least one other exchange that is distinguished from the applied exchange;
Based on the first transaction information between the first reserve asset and the second reserve asset, a Bid-Ask reference price between the first reserve asset and the second reserve asset and a liquidation size limit of the second reserve asset are determined to do;
By converting the second transaction information between the first cryptocurrency and the second reserve asset based on the Bid-Ask reference price and the size limit, the third transaction information between the first cryptocurrency and the first reserve asset generating;
Concluding a transaction of the first cryptocurrency using the first key asset in the applied exchange based on the third transaction information; and
Concluding a transaction of the first cryptocurrency using the second key asset in the linked exchange in response to the transaction concluded in the applied exchange
including,
The Bid-Ask reference price is determined by adjusting the quote price between the first key asset and the second key asset based on a preset safety margin for smooth liquidity supply from the linked exchange to the applicable exchange,
The liquidation size limit of the second reserve asset is determined based on a trading volume of the second reserve asset corresponding to the quote price between the adjusted first reserve asset and the second reserve asset;
How to trade cryptocurrency.
According to claim 1,
The first transaction information is
Including the trading volume of the second key asset and the quotes of the second key asset calculated as the first key asset,
The trading volume of the second key asset is
including transaction volumes per quote price of the second stock asset corresponding to each of the quote prices of the second stock asset,
How to trade cryptocurrency.
3. The method of claim 2,
The step of determining the liquidation size limit of the Bid-Ask reference price and the second reserve asset is
determining a Bid-Ask reference price between the first reserve asset and the second reserve asset based on a predetermined safety margin and quote prices of the second reserve asset in the first transaction information; and
Based on the Bid-Ask reference price and the transaction volume of the second reserve asset in the first transaction information, determining a liquidatable size limit of the second reserve asset
containing,
How to trade cryptocurrency.
4. The method of claim 3,
The step of determining the bid-ask reference price is
determining a Bid reference price of the Bid-Ask reference price based on the safety margin and the highest bid price of the second key asset; and
Determining the Ask reference price of the Bid-Ask reference price based on the safety margin and the highest asking price of the second key asset
containing,
How to trade cryptocurrency.
4. The method of claim 3,
The step of determining the size limit is
Based on the trading volume of the second reserve asset between the highest bid price of the second reserve asset and the Bid reference price of the Bid-Ask reference price, determining the liquidation size limit of the second reserve asset for purchase ; and
Based on the trading volume of the second reserve asset between the highest asking price of the second reserve asset and the Ask reference price of the Bid-Ask reference price, determining a liquidation size limit of the second reserve asset for selling
containing,
How to trade cryptocurrency.
According to claim 1,
The step of generating the third transaction information is
generating first quote prices of the first cryptocurrency calculated as the first key asset; and
Generating transaction volumes per first bid price of the first cryptocurrency corresponding to the first bid prices of the first cryptocurrency
containing,
How to trade cryptocurrency.
7. The method of claim 6,
The step of generating the first quotes of the first cryptocurrency is
Based on the Bid-Ask reference price and a predetermined safety margin, by converting the second quote prices of the first cryptocurrency calculated as the second key asset in the second transaction information, the first Steps to create quotes
containing,
How to trade cryptocurrency.
7. The method of claim 6,
The second transaction information is
second quotes of the first cryptocurrency calculated as the second key asset; and
Transaction volumes per second quotation price of the first cryptocurrency corresponding to each of the second quotation prices
comprising,
How to trade cryptocurrency.
9. The method of claim 8,
The step of generating the transaction volumes per first call of the first cryptocurrency is
downscaling transaction volumes per second call of the first cryptocurrency based on a predetermined reduction ratio; and
Based on the size limit, by converting the transaction volumes per second call of the downscaled first cryptocurrency, generating the transaction volumes per first call of the first cryptocurrency
containing,
How to trade cryptocurrency.
9. The method of claim 8,
The step of generating the transaction volumes per first call of the first cryptocurrency is
calculating, based on the second transaction information, converted quantities of the second stock asset corresponding to the second quote prices;
selecting the transaction volume per second quote price, the application of which is restricted in generating the transaction volume per first quote price, based on the converted quantities and the size limit; and
generating the trading volumes per first call price of the first cryptocurrency by converting the transaction volume per the selected second call price to a predetermined minimum value;
containing,
How to trade cryptocurrency.
9. The method of claim 8,
The step of generating the transaction volumes per first call of the first cryptocurrency is
generating transaction volumes per first call price of the first cryptocurrency by converting the transaction volume per second call price, in which the second call price exceeds a predetermined maximum value, into the maximum value among the transaction volumes per second call; and
generating transaction volumes per first call price of the first cryptocurrency by converting the transaction volume per second call price, which is less than a predetermined minimum value among the transaction volumes per second call, into the minimum value;
comprising at least one of
How to trade cryptocurrency.
According to claim 1,
The step of concluding the transaction of the first cryptocurrency using the second key asset in the linked exchange is
when a transaction for selling the first cryptocurrency is concluded in the applied exchange, purchasing the first cryptocurrency in the linked exchange in response to the amount of the first cryptocurrency sold in the applied exchange; and
When a transaction to purchase the first cryptocurrency is concluded in the applied exchange, in response to the amount of the first cryptocurrency purchased in the applied exchange, selling the first cryptocurrency in the linked exchange
containing,
How to trade cryptocurrency.
According to claim 1,
Concluding a transaction between the first key asset and the second key asset based on the transaction concluded in the applied exchange and the transaction concluded in the linked exchange
further comprising,
How to trade cryptocurrency.
According to claim 1,
The step of concluding the transaction of the first cryptocurrency using the second key asset in the linked exchange is
If the transaction is not concluded in the linked exchange, reconcluding the transaction of the first cryptocurrency using the second key asset in the linked exchange at a predetermined time interval
containing,
How to trade cryptocurrency.
According to claim 1,
The step of concluding the transaction of the first cryptocurrency using the first key asset in the applied exchange is
Concluding a transaction of the first cryptocurrency based on the amount of the first cryptocurrency that can be traded in the linked exchange
containing,
How to trade cryptocurrency.
16. A computer program stored on a medium in combination with hardware to execute the method of any one of claims 1 to 15.
Select an interlocking exchange that trades the first cryptocurrency as a second key asset different from the first key asset among at least one other exchange that is distinct from the applicable exchange that trades the first cryptocurrency as the first key asset,
Based on the first transaction information between the first reserve asset and the second reserve asset, a Bid-Ask reference price between the first reserve asset and the second reserve asset and a liquidation size limit of the second reserve asset are determined do,
By converting the second transaction information between the first cryptocurrency and the second reserve asset based on the Bid-Ask reference price and the size limit, the third transaction information between the first cryptocurrency and the first reserve asset create,
Based on the third transaction information, the transaction of the first cryptocurrency using the first key asset is concluded in the applied exchange,
In response to the transaction concluded in the applied exchange, the transaction of the first cryptocurrency using the second key asset in the linked exchange is concluded,
at least one processor
including,
The Bid-Ask reference price is determined by adjusting the quote price between the first key asset and the second key asset based on a preset safety margin for smooth liquidity supply from the linked exchange to the applicable exchange,
The liquidation size limit of the second reserve asset is determined based on a trading volume of the second reserve asset corresponding to the quote price between the adjusted first reserve asset and the second reserve asset;
server.
18. The method of claim 17,
The first transaction information is
Including the trading volume of the second key asset and the quotes of the second key asset calculated as the first key asset,
The trading volume of the second key asset is
and transaction volumes per quote price of the second key asset corresponding to each of the quote prices of the second key asset.
19. The method of claim 18,
The processor is
In determining the liquidation size limit of the Bid-Ask reference price and the second reserve asset,
determine a Bid-Ask reference price between the first reserve asset and the second reserve asset based on a predetermined safety margin and the quotation prices of the second reserve asset in the first transaction information;
Based on the Bid-Ask reference price and the transaction volume of the second reserve asset in the first transaction information, the server determines the liquidation possible size limit of the second reserve asset.
18. The method of claim 17,
The processor is
In generating the third transaction information,
Generate the first quote prices of the first cryptocurrency calculated as the first key asset,
The server, wherein the first bid price of the first cryptocurrency corresponding to the first bid prices of the first cryptocurrency generates transaction volumes per transaction.

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