Token Integration Issues

Unit of Account

On the Standard Exchange platform, whenever a new trading pair is added for assets, it is necessary for that pair to include a unit of account as the quote currency. This unit of account is used by Standard Exchange for accounting purposes related to traders. Examples of such units of account can include stable assets like USDT (Tether) or USDC (USD Coin), which are known for their relatively stable value compared to volatile cryptocurrencies.

The inclusion of a unit of account in the trading pair is crucial because it allows liquidity providers to accumulate points by trading the asset. Liquidity providers play an essential role in maintaining liquidity in the market, and they are rewarded based on their contribution. By requiring a unit of account as the quote currency, Standard Exchange ensures that liquidity providers can accurately assess their contributions and earn rewards accordingly.

By using stable assets or other non-volatile units of account, Standard Exchange aims to provide a more stable trading environment for users. This stability is beneficial for both traders and liquidity providers, as it reduces the risk associated with volatile assets and allows for more reliable calculations and rewards within the Standard Exchange ecosystem.