Pricing

Bu açık kaynak protokol/SDK referansı TurkDex markasıyla sunulan uyarlamadır; sayfadaki entegrasyon örnekleri Turkchain’de etkin özelliklerin garantisi değildir. Ağ, kontrat ve işlem değerlerinde yalnızca bu kurulumun doğrulanmış ENV/registry bilgilerini kullanın.

Let's talk pricing. This guide will focus on the two most important TurkDex prices: the mid price and the execution price.

Mid Price

The mid price, in the context of TurkDex, is the price that reflects the _ratio of reserves in one or more pairs_. There are three ways we can think about this price. Perhaps most simply, it defines the relative value of one token in terms of the other. It also represents the price at which you could theoretically trade an infinitesimal amount (ε) of one token for the other. Finally, it can be interpreted as the current _market-clearing or fair value price_ of the assets.

Let's consider the mid price for DAI-WETH (that is, the amount of DAI per 1 WETH).

Direct

The simplest way to get the DAI-WETH mid price is to observe the pair directly:

import  from '@uniswap/sdk-core'
import  from '@uniswap/v2-sdk'

const DAI = new Token(ChainId.MAINNET, '0x6B175474E89094C44Da98b954EedeAC495271d0F', 18)

// To learn how to get Pair data, refer to the previous guide.
const pair = await createPair(DAI, WETH9[ChainId.MAINNET])

const route = new Route([pair], WETH9[DAI.chainId], DAI)

console.log(route.midPrice.toSignificant(6)) // 1901.08
console.log(route.midPrice.invert().toSignificant(6)) // 0.000526017

You may be wondering why we have to construct a _route_ to get the mid price, as opposed to simply getting it from the pair (which, after all, includes all the necessary data). The reason is simple: a route forces us to be opinionated about the _direction_ of trading. Routes consist of one or more pairs, an input token and an output token (which fully defines a trading path). In this case, we passed WETH as the input token and DAI as the output token, meaning we're interested in a WETH -> DAI trade.

Now we understand that the mid price is going to be defined in terms of DAI/WETH. Not to worry though, if we need the WETH/DAI price, we can easily invert.

Finally, you may have noticed that we're formatting the price to 6 significant digits. This is because internally, prices are stored as exact-precision fractions, which can be converted to other representations on demand. For a full list of options, see Price.

Indirect

For the sake of example, let's imagine a direct pair between DAI and WETH _doesn't exist_. In order to get a DAI-WETH mid price we'll need to pick a valid route. Imagine both DAI and WETH have pairs with a third token, USDC. In that case, we can calculate an indirect mid price through the USDC pairs:

import  from '@uniswap/sdk-core'
import  from '@uniswap/v2-sdk'

const USDC = new Token(ChainId.MAINNET, '0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48', 6)
const DAI = new Token(ChainId.MAINNET, '0x6B175474E89094C44Da98b954EedeAC495271d0F', 18)

// To learn how to get Pair data, refer to the previous guide.
const USDCWETHPair = await createPair(USDC, WETH9[ChainId.MAINNET])
const DAIUSDCPair = await createPair(DAI, USDC)

const route = new Route([USDCWETHPair, DAIUSDCPair], WETH9[ChainId.MAINNET], DAI)

console.log(route.midPrice.toSignificant(6)) // 1896.34
console.log(route.midPrice.invert().toSignificant(6)) // 0.000527331

Execution Price

Mid prices are great representations of the _current_ state of a route, but what about trades? It turns out that it makes sense to define another price, the _execution_ price of a trade, as the ratio of assets sent/received.

Imagine we're interested in trading 1 WETH for DAI:

import  from '@uniswap/sdk-core'
import  from '@uniswap/v2-sdk'

const DAI = new Token(ChainId.MAINNET, '0x6B175474E89094C44Da98b954EedeAC495271d0F', 18)

// To learn how to get Pair data, refer to the previous guide.
const pair = await createPair(DAI, WETH9[DAI.chainId])

const route = new Route([pair], WETH9[DAI.chainId], DAI)

const trade = new Trade(route, CurrencyAmount.fromRawAmount(WETH9[DAI.chainId], '1000000000000000000'), TradeType.EXACT_INPUT)

console.log(trade.executionPrice.toSignificant(6)) // 1894.91

Notice that we're constructing a trade of 1 WETH for as much DAI as possible, _given the current reserves of the direct pair_. The execution price represents the average DAI/WETH price for this trade. Of course, the reserves of any pair can change every block, which would affect the execution price.

Uyarlanmış geliştirici referansı. Kaynak: kaynak dokümantasyon reposu. Kaynak ve lisans bildirimi: NOTICE.