Contracts

Real World Trade Protocol is currently implemented for the EVM and deployed across many different chains. However, it seems reasonable that RWTP could be implemented for other smart contract platforms.

Orders

RWTP has both Buy Order and Sell Order. If you make a buy order, folks offer to sell you things. If you make a sell order, folks offer to buy your things. Both are defined by the Order contract.

To make an Order and have it picked up by client apps, use the OrderBook contract.

book.createOrder(
  // The owner of the order. Orders can be made
  // on behalf of someone else, such as by a client
  // application willing to pay for the gas.
  maker,

  // A URI to metadata containing
  uri,

  // If true, the order is a buy order. If false, it is a sell order.
  bool isBuyOrder
);

URIs are expected to point to a JSON object with at least two fields: $schema and $accepts. $schema is a URI to the JSON schema of the object itself. This might define fields like title, description, images, and so on.

$accepts is an array of URIs containing schemas the client is willing to accept from an offer.

{
   "$schema": "ipfs://somecid",
   "$accepts": ["ipfs://anothercid"],
   "yourOwnField": "hi"
}

Making an offer

To make an offer on an order, you can use the submitOffer function. As the offerer, you get to decide the deal.

order.submitOffer(
  // a uint128 that identifies the order.
  index,

  // The address of the ERC20 token you wish to transact in
  token,

  // a uint128 that represents the price to be paid in the token
  // the order specifies
  price,

  // A uint128 that represents what you'd like the buyer
  // to use as a cost, as defined in the Whitepaper
  buyersCost,

  // A uint128 that represents what you'd like the seller to stake,
  // as defined in the Whitepaper
  sellersStake,

  // A timeout (in seconds), after which this deal expires and
  // the seller can be paid
  uint128 timeout,

  // An arbitrary URI to metadata
  uri
);

What is buyersCost?

If buyersCost > price, then submitOffer will transfer buyersCost - price into the contract, as a deposit, as well as the price. If the deal fails, the buyer will lose this deposit. If buyersCost < price then submitOffer will just transfer price into the escrow.

What is index?

You may have multiple open offers on a single Buy Order or Sell Order. To differentiate them, use the index. Indexes aren't globally unique; they're unique per address of the offerer:

mapping(address => mapping(uint128 => Offer))

Accepting an offer

When you accept an offer, you cannot back out unless the other party agrees.

order.commit(
  // The address of the person who submitted the offer
  taker,

  // The index of the offer
  index
);

Paying out

After some period of time (the timeout), the deal can be settled, sending the payment to the seller. Use order.confirm(address, uint128) to do this.

order.confirm(
    // The address of the person who submitted the offer
    taker,

    // The index of the offer
    index
);

So long as it's passed the time limit, anyone can call this function.

Disputing the deal

If a buyer thinks they've been scammed, they can request a refund. To do so, use order.refund(address, uint128).

order.refund(
    // The address of the person who submitted the offer
    taker,

    // The index of the offer
    index
);

Canceling the order

If both the buyer and the seller agree to cancel the deal, then the payment is returned to the buyer and both the buyer and the seller get their deposit back.

order.cancel(
    // The address of the person who submitted the offer
    taker,

    // The index of the offer
    index
);