Canton OTC Desk

Peer-to-peer OTC trading desk for tokenized assets on the Canton Network with atomic DvP settlement.

What It Does

A full-stack OTC trading platform built on Canton Network:

• Trade Offers — Create sell/buy offers for any CIP-56 token (bonds, equities, CC, stablecoins)
• Atomic DvP — Delivery vs Payment in a single Daml transaction. No settlement risk.
• Request for Quote (RFQ) — Broadcast buying intent, receive competitive quotes from market makers
• Sub-Transaction Privacy — Each party sees only their side of the trade
• App Rewards — Every trade generates Canton Coin rewards (62% of CC emissions to apps)

Architecture

                    Canton Network (Global Synchronizer)
                              |
                    +---------+---------+
                    |                   |
              Participant A       Participant B
              (Maker)             (Taker)
                    |                   |
              +-----+-----+     +------+------+
              | OTC Desk   |     | OTC Desk    |
              | Frontend   |     | Frontend    |
              +-----+------+     +------+------+
                    |                   |
              +-----+------+     +------+------+
              | JSON API   |     | JSON API    |
              | (port 7575)|     | (port 7575) |
              +-----+------+     +------+------+
                    |                   |
              +-----+---------+---------+------+
              |       Daml Smart Contracts     |
              |  TradeOffer | RFQ | Settlement |
              +--------------------------------+

Smart Contracts

TradeOffer

Maker creates an offer to sell X tokens for Y tokens. Any party can take the offer, triggering atomic settlement.

template TradeOffer
  with
    maker : Party
    sellSymbol : Text
    sellAmount : Decimal
    buySymbol : Text
    buyAmount : Decimal
    expiresAt : Time
  where
    signatory maker
    choice AcceptOffer : ContractId TradeSettlement
      with taker : Party
      controller taker

RfqRequest

Buyer broadcasts intent. Market makers respond with competitive TradeOffer quotes.

TokenHolding

CIP-56 inspired token with Transfer and Split capabilities.

OtcDeskOperator

Marketplace operator role with configurable fee rate.

Quick Start

Smart Contracts

cd daml

# Install Daml SDK
curl -sSL https://get.daml.com | sh -s 3.4.0

# Build and test
daml build
daml test --all

# Start sandbox + JSON API
daml start

Frontend

cd typescript

# Install dependencies
bun install

# Configure API endpoint
cp .env.example .env.local

# Start dev server
bun run dev

Open http://localhost:3000.

Revenue Model

App Rewards (Primary)

• Featured Apps earn 62% of CC emissions (~516M CC/month)
• Formula: (Your txs / Total network txs) x 516M CC x CC price
• At 100K monthly trades: ~$193K/month at $0.15/CC
• Revenue scales linearly with trade volume

Fee Revenue (Secondary)

• Configurable operator fee on each trade
• Default: 0.1% (10 bps)

Token Pairs Supported

Category	Examples
Native	CC/USDC, CC/CHF-CBDC
Fixed Income	TBOND/USDC, CORP-BOND/CC
Equities	EQUITY-AAPL/USDC, EQUITY-MSFT/CC
Stablecoins	USDC/CHF-CBDC, USDT/USDC
Commodities	GOLD-TOKEN/USDC, OIL-TOKEN/CC

Grant Eligibility

This project targets the Canton Foundation Grants Program:

• Category: DeFi / Liquidity Seeding
• Focus: P2P trading infrastructure driving network transactions
• Impact: Each trade = network fee burn + app reward mint

Deploy

Vercel (Frontend)

Canton Network

1. Build Daml archive: cd daml && daml build
2. Deploy .dar to your Canton participant node
3. Configure frontend with your JSON API endpoint

License

MIT

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Built for the Canton ecosystem. Not affiliated with Digital Asset.