For Exchanges
Initial Setup: Users deposit their capital into the Exchange's vault, similarly to adding liquidity into an AMM pool. They then authorize the market-making bot to place orders on their behalf, choosing a specific algorithm for this task.
Position Subscription: The market-making bot begins to receive position information directly from the vault.
Market Data Subscription: The bot subscribes to market data from the Exchange's order book.
Order Request: Whenever the bot needs to place an order, it sends an order request to the vault, based on its programmed algorithm.
Order Placement: The vault authenticates the incoming requests. Depending on the validation, it will either approve the request and place the order directly into the order book, or reject it outright.
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