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* Update 01-development.md Update Communication Channels channels to reflect removal of Twitter and Telegram, and emphasize SimpleX, Nostr, and Matrix chats * Update 02-languages.md Update Telegram verbiage to reference SimpleX instead. * Update 04-guides.md Update Telegram verbiage to reference SimpleX instead. * Update 05-art.md Update Telegram verbiage to reference SimpleX instead. * Update 06-outreach.md Update Twitter verbiage and reference Nostr instead * Update 00-quicks-start-guide.md Update verbiage slightly. Add more info and links. * Update 01-lightning.md Add rough draft to provide overview of Lightning Network and its relation to RoboSats * Update 02-tor.md Provide rough draft of introduction to TOR. * Update 03-access.md Add access method via Android app APK. Adjust slight typos and some wording for clarity. * Update 01-trade-pipeline.md Add TOC, swap steps and pictures placement, adjust small typos and wording. Picture was swapped with the steps because I think the picture can be slightly overwhelming versus a simple list of steps. The pictures are great but they are a lot to throw at someone right when they open the very first doc under "Understand" to learn about RoboSats. * Update 02-robots.md Clean up hyperlinks, adjust grammar slightly. * Update 03-premium.md Update verbiage, adjust grammar slightly. * Update 03-premium.md Add paragraphs on advice for choosing a premium * Update 04-bonds.md Various changes to verbiage and adding/updating information. Grammar fixes, remove reference to Telegram. * Update 05-trade-escrow.md Clean up hyperlinks, adjust some wording * Update 06-disputes.md Rough draft of disputes section. Committed changes are a placeholder for a longer and more detailed version of the dispute process. * Update 07-wallets.md Fix typos, grammar edits, add new section at bottom * Update 08-limits.md Rough draft of new content in the limits docs * Update 09-swaps.md Adjust "on-chain" to "on chain" and "sats" to "Sats" for consistency across other docs. Slight grammar fixes. * Update 10-telegram.md Small grammar fixes, clean up formatting and add table of contents * Update 12-prices.md Add verbiage note about explicit pricing method, clean up hyperlinks * Update 13-fees.md Clean up hyperlinks, small spelling fixes * Update 14-on-chain-payouts.md Add table of contents, small grammar fixes, adjust formatting * Update 07-wallets.md Change "on chain" to "on-chain" * Update 09-swaps.md Change "on chain" to "on-chain" * Update 02-tor.md Add note when using TOR and experiencing connection issues
42 lines
1.7 KiB
Markdown
42 lines
1.7 KiB
Markdown
---
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layout: single
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classes: wide
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title: "Trade Pipeline"
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permalink: /docs/trade-pipeline/
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toc: true
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toc_sticky: true
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sidebar:
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title: '<img id="side-icon-verybig" src="/assets/vector/timeline.svg"/>Trade Pipeline'
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nav: docs
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src: "_pages/docs/03-understand/01-trade-pipeline.md"
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---
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The RoboSats trade pipeline is straightforward and streamlined. The general order flow when making and taking orders is laid out below in numerical steps and in a flowchart.
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## Order Flow in Numerical Steps
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Alice wants to buy Sats privately. This is step-by-step what happens when she buys using RoboSats:
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1. Alice generates an avatar (AdequateAlice01) using her private random token.
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2. Alice safely stores the token in case she needs to recover AdequateAlice01 in the future.
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3. Alice makes a new order and locks a small hold invoice to publish it (maker bond).
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4. Bob wants to sell Sats, sees Alice's order in the book and takes it.
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5. Bob scans a small hold invoice as his taker bond. The contract is final.
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6. Bob posts the traded Sats with a hold invoice. While Alice submits her payout invoice.
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7. In a private chat, Bob tells Alice how to send him fiat.
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8. Alice pays Bob, then they confirm the fiat has been sent and received.
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9. Bob's trade hold invoice is charged and the Sats are sent to Alice.
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10. Bob and Alice's bonds return automatically, since they complied by the rules.
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11. The bonds would be charged (lost) in case of unilateral cancellation or cheating (lost dispute).
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## Order Flow in Flowchart
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<div align="center">
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<img src="/assets/images/trade-pipeline/buyer-en.jpg" width="650"/>
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</div>
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<div align="center">
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<img src="/assets/images/trade-pipeline/seller-en.jpg" width="650"/>
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</div>
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{% include improve %}
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