commodex

# Pharos Exchange Project Detailed Description

## Project Overview

Pharos Exchange is a sophisticated blockchain-based trading platform designed for tokenized assets like stocks and commodities. It operates on a custom blockchain network ("Pharos Network") and provides a comprehensive infrastructure for asset tokenization, trading, settlement, and governance. The platform implements a fully functional order book system with market and limit orders, along with price discovery mechanisms.

## Technical Architecture

### Blockchain Infrastructure

- Custom Blockchain: Operates on the Pharos Network with dedicated RPC endpoints

- Chain ID: 50002 (as specified in configuration)

- Explorer Integration: Connected to PharosScan (https://pharosscan.xyz/)

- Network Options: Supports both mainnet and local development environments

### Backend Components

#### Smart Contract Ecosystem

1. StockToken Contract

- ERC20-compliant token representing stock assets

- Features company metadata (name, ticker, description)

- Trading controls (enable/disable trading)

- Maximum supply enforcement

- Owner-controlled minting and metadata updates

- Asset registry integration

2. CommodityToken Contract

- Similar to StockToken but specialized for commodity assets

- Implements the same trading controls and supply management

3. OrderBook Contract

- Core trading engine handling order creation, matching, and management

- Supports limit orders (price-specific) and market orders (at best available price)

- Order lifecycle management (open, filled, partial filled, cancelled, expired)

- Maintains order history and trader-specific order tracking

- Implements price-time priority for order matching

4. Settlement Contract

- Handles final settlement of matched trades

- Manages asset transfers between trading parties

- Records completed transactions

- Maintains settlement history and reporting

5. MatchingEngine Contract

- Implements price-time priority algorithm for order matching

- Processes and optimizes the execution efficiency

- Maintains the order book state

- Handles partial fills and order queue management

6. Governance Contract

- Controls protocol upgrades and parameter adjustments

- Manages administrative permissions

- Implements voting mechanisms for protocol changes

- Controls fee structures and policy changes

7. PriceFeed Contract

- Oracle integration for external price data

- Provides reference pricing for assets

- Supports market order execution

- Enables price-based triggers and automation

8. AssetRegistry Contract

- Central registry for all tokenized assets

- Tracks asset metadata and relationships

- Manages asset listing and delisting

- Maintains reference data for all tokens

#### Infrastructure Components

- Environment Configuration: Managed via .env files

- Smart Contract Deployment: Automated deployment scripts

- Token Approval System: Manages trading permissions

- Transaction Management: Handles transaction submission and confirmation

- Error Handling: Comprehensive error management system

### Frontend Components (Projected)

#### User Interface

1. Trading Dashboard

- Asset selection interface

- Real-time price charts

- Order book visualization

- Active orders display

2. Wallet Integration

- Connection to blockchain wallet (MetaMask, etc.)

- Asset balance display

- Transaction approval interface

3. Order Management

- Form for creating limit/market orders

- Order history and status tracking

- Order cancellation interface

- Transaction confirmation screens

4. Asset Information

- Token metadata display

- Historical price data

- Trading volume statistics

5. User Account

- Profile management

- Trading history

- Portfolio overview and performance metrics

## Technical Implementation

### Technology Stack

- Smart Contracts: Solidity v0.8.19+

- Contract Framework: OpenZeppelin for standard implementations

- Frontend: React (projected)

- Backend Scripts: TypeScript/JavaScript

- Package Management: npm/yarn

- Blockchain Interaction: ethers.js

- Development Environment: WebStorm 2025.1

- Testing Tools: Hardhat (implied)

### Trading Functionality

- Order Types: Limit and Market orders

- Order Sides: Buy and Sell

- Order Management: Create, cancel, query

- Order Matching: Price-time priority algorithm

- Settlement: Automated asset transfer upon matching

- Token Approvals: Managed for trading authorization

- Trading Controls: Tokens can be enabled/disabled for trading

### Security Features

- Access Controls: Owner-restricted functions

- Trading Validation: Checks for sufficient balances and approvals

- Contract Upgradeability: Governance-controlled upgrades

- Error Handling: Comprehensive error reporting system

## Current Implementation Status

The project appears to be in an advanced stage of development with:

- Core smart contracts implemented and deployed

- Trading functionality operational (creating, matching, and canceling orders)

- Token trading controls working

- Backend scripts for contract interaction fully functional

- Settlement and matching systems operational

- Oracle price feed integration in progress

- Frontend development likely in progress

## Distinguishing Features

1. Tokenized Traditional Assets: Brings stocks and commodities on-chain

2. Custom Blockchain Network: Dedicated chain for trading operations

3. Complete Order Book Implementation: Full-featured trading engine

4. Asset Registry: Centralized asset metadata management

5. Governance System: Protocol upgrades and parameter adjustments

6. Settlement Integration: Automated trade settlement and clearing

The platform represents a comprehensive trading infrastructure that bridges traditional financial assets with blockchain technology, providing a robust framework for tokenized asset trading.