All About Aden Exchange | Orderbook DEX - How It Works - Latest Announcements

This page is an encyclopedic overview of ADEN DEX concepts, technical structure, trading metrics, policies, BGSC integration, and latest updates.
This page is in Korean Standard Time (KST).

⚠️ This article is an unofficial compilation of information about the ADEN exchange and is not intended to be an investment solicitation. Please trade at your own risk.

What is the Aden Exchange?

Q. What is the Aden Exchange?
A. Aden is a Order book-based derivative DEXsYes, you can trade with a wallet connection, and the price is Quotes (order book) It's a match (based on announcements) User Fee 0%and is primarily oriented towards Market Maker (MM)and the user's limit order create liquidity.

How did it come about?

Q. Wasn't it originally BugsDEX (AMM)?
A. That's right, the draft is Liquidity pools (AMMs) It was a concept, Actual launchThe Orderbook DEX (Aden)favorable execution quality for derivatives, Orderly shared ordersfor initial liquidity, and the AMM's Impermanent LOS (IL) Avoiding pressure was a key reason.

Project overview

Type: Order book derivatives DEX (non-custodial)
Infrastructure: Orderly-based whitelabel structure
Listed/traded: 126 alts (7/31), top ranked CMC-derived DEX (8/1~)
BGSC integration: introducing a buyback-burn mechanism, a long-term 'second BNB' strategy

How does it work?

Q. What's different about the order book?
A. AMMautomatically adjusts the price by the liquidity pool rate, while the Order bookBuy-Sell Silver QuotesThe liquidity is matched by LP Depositsinstead of Limit (pending) ordersare stacked on top of each other.

Price formation: Matching quotes (orders) → Execution
Provide liquidity: Limit Order - MM Activity (no LP token)
Fee flow: (per announcement) User 0%, MM billing oriented
Representative risks: Spread/Quote Depth - MM Dependent (Correspondence: Shared Order Book - Incentive)

The actual trading process on Aden Exchange

One-line summaries -. My Wallet (USDT/USDC, BNB Gas) → Β Deposit from ADEN (authorize to send) → Β Stored in Orderly Vault smart contract (attributed to my wallet) → Β Order book execution and settlement → Β Back to My Wallet for withdrawals.

Create a personal wallet - Prepare your EVM wallet, including metamasks, and BNB Chain Add a network.
Prepare for gas costs - Deposits, withdrawals, and authorizations require a small amount of BNB(By announcement, BNB chain deposit gas fee support Available)
Connect your wallet -. aden.io Connect → Connect Connect Wallet.
Staging assets -. BNB ChainThe USDT or USDCto My Walletin your project.
Deposit - ADEN → Deposit Select → Select Token approval (Approval) 1 time → Β Sending deposits.
➜ The transferred assets are stored in the Orderly Vault smart contractsand is stored in My wallet addressas collateral attributable to the
Order/Execution - Open a position by setting the order type (Market/Limit/Stop) and leverage.
➜ Order bookand the margin is reflected in the Vault.
Settlement - Unrealized/Realized PnL, Funding Cost, (as announced) User 0% transaction fee The policy is applied.
The fee structure is subject to change based on operating policies.
Withdraw - Vault Collateral My Wallet (USDT/USDC, BNB Chain)→ Move to external wallet/exchange if needed.

Frequently asked points

Authorization errors -. approval limit Due to rare errors that can occur during scaling, the announced standard is to use the Recommendation to use BNB Chainwas present.
Gas costs - For all on-chain actions (authorization-deposit-withdrawal), the BNBis required. If it's not enough, progress stops.
Liquidation risk - When using leverage Maintenance Margin Underperformance may result in liquidation. Manage your risk with stop/trigger orders.
Storage location - After the deposit, the asset will be Orderly Vault smart contractsand kept securely separate, My Wallet Accounted for on a per share basis.

Orderbook vs AMM at a glance (BugsDEX → ADEN transition)

Notifications -. ~~Coming soon to BugsDEX (AMM method)~~but the actual service was ADEN (order book-based DEX)in the past. To avoid confusion, we summarize the differences between the two structures below. ADEN is not an LP liquidity pool deposit structure.

Q. In the Bucksdex (AMM) article, you may have seen the LP/Impermanent Rothapplies to Aden?
A. No, it doesn't. Aden (order book)The LP Deposit - LP Token - IL If the concept is Not applied directly. The AMM concept is based on the Training/Comparisonfor reference only.

Item	Order book (ADEN real)	AMM (BugsDEX concept)
Price formation	Buy-Sell Quotesto match the Matching engineThis contract	Automatic pricing based on pool percentages `x*y=k`
Provide liquidity	Limit orders (quotes)Providing this liquidity. Primarily stacked MM/User quotes	LP deposits two assets in pairsto form a pool
Proof of engagement	No separate attestation (order/confirmation history)	LP Token Issuance (share certificates)
Representative risks	Shallow quotes/wider spreads, depth of fill	Immutable Roth(lost opportunity due to price disparity)
Fee flow	User 0% fee(by announcement), Charging only MM Orientation * Variable	If the transaction fee is Distributions to LPs
Who's in favor?	Traders familiar with quote-based trading/market making	Long-term LPs looking for fee income, simple swap users

Key takeaways

ADEN = Order Book DEX → Liquidity is Limit ordersPowered by, No LP pools/LP tokens.
AMM (formerly BugsDEX)is LP Depositsand Fee distribution While the concept is key, it's important to note that the Not directly applied.
Avoid commingling: ~~"BugsDEX AMM Upcoming"~~ → Β "Going live with the ADEN Order Book" (transition complete).

Listing/Trading Support

7/31: Altcoins 126 Support for stock trading, officially listed on CMC ADEN
8/1: CMC DEX Derivatives Volume 3rd place → Β 8/5: 2nd place (Mentioned in 7th overall ranking)

Trading indicators (snapshots)

8/2: 24h trading volume approx. $460M, Active Users 1,777
8/7: 24h trading volume approx. $600M, Active Users 2,200 (largest ever)
8/11: 24h trading volume approx. $900M

Notes: Market makers (MMs) operate at limit prices on Orderly, which means that approximately 50%There is an internal explanation that only ADEN is counted on CEX, and that the perceived volume would be higher if the same conditions were translated to CEX.
➡️ Dune volume: Link /User: Link

Fees/Policies

User Transaction Fee 0% By policy (based on operational announcements), Fees to market makers only(this policy is subject to change).

Chain policy & gas fee support

Exclusive to BNB Chain Upcoming (8/7)
Based on the BNB chain Support for USDT/USDC deposits for gas (How to apply for support)

Operational reliability and fairness

8/4: Volume Ranking Disqualify the #1 wallet (Fraudulent transaction context) → Exclude from ranking
8/4: Yield Leaderboard My rankings Display errors coming soon
8/4: Rare approval error during ETH chain approval limit increase → Temporarily BNB Chain Advisory
Leaderboard watch: Disclose transactions by wallet, investigate immediately upon report. Subaccount transaction history Viewability updates coming soon

BGSC Integration & Torqueonomics Direction

Strategies: Cultivating BGSC as the 'next BNB' (8/2). Enhancing Utility - Designing Demand-Driven Tokenomics
Buyback-Burn: BGSC with a portion of ADEN's operating revenue (%) to the Market buy and burn (8/5). Percentages are calculated based on quarterly volume data
Branching plan (draft):
- Q3: Holder event rewards $2,250,000
- Q4: Based on investor compensation Adjusting the buyback-to-burn ratio (burn↑ for less reward, burn↓ for more)
NotesAnnouncement: "Introducing BGSC Ecosystem to ADEN"

Product extensions (coming soon)

US Big Tech (Apple, Amazon, Tesla, etc.) Perpetual Stock (Perp) Trading tokens Upcoming
PancakeSwap × BGSC Official events (Total prize pool $300,000) Cross Campaign Mention

Note that

DEXs and CEXs have inherently separate infrastructure-market structures. CEX volume decline=DEX increase is not a given
In the initial overheat window Fraudulent transactions Respond to attempts with disqualification (more fairness)
Policies and metrics are subject to change as announced

FAQ: Why did we switch from AMM to order book, and are there any downsides?

~~Coming soon to BugsDEX (AMM method)~~but the actual service was ADEN (order book-based DEX)for the first time. To avoid confusion, we'll summarize the reasons for the switch and the disadvantages of the order book together.

Why AMM → Order Book (ADEN)?

Optimize derivatives: stop-trigger-liquidate, etc. Manage riskOrder book is favorable for external price matching with
Initial liquidity quality: Orderly shared ordersGet deep pricing/low spreads from the start with
Avoiding Immutable Loss (IL)Instead of the AMM's LP loss-subsidy burden, the order book will be No LP deposit structure per se
Trader UX: Near CEX execution experience (high volume, high frequency), advanced order types, User 0% Fee-Oriented Compatibility with policies

What are the disadvantages of order books (ADEN)?

Liquidity maintenance difficulty: Long tail stocks are Spread Widening/Delayed Execution Yes → No Correspondence: Attracting shared orders/specialized MMs
MM Dependencies: MM 이탈 시 호가 얕아짐 → Correspondence: Designing a Multi-MM - Incentive-Commission Policy
On-chain cost/complexity: Order/Cancel Frequent → CorrespondenceMitigate costs and delays with off-chain matching + on-chain payments (hybrid)
MEV/Latency: 온체인 반영 전후 스니핑 리스크 → CorrespondenceTags: batch-cue-watcher, trigger design

OrganizeADEN is Orderbook DEXto operate. Liquidity is Limit orders (quotes)which, like AMMs, is provided by the LP Liquidity Pools/LP TokensThis None. AMM concepts are for educational and comparative purposes only.

Change summary (in-text strikethrough)

Orderbook engine: ~~Orderly + ASTER in parallel~~ → Β Orderly Single (7/26)
CMC-derived DEX volume ranking: ~~3rd place~~ (8/1) → 2nd place (8/5)

Official Links & Help Center

ADEN Official Site: https://aden.io
KakaoTalk Help Center: https://pf.kakao.com/_jggxan
Telegram Help Center: https://t.me/BGSC_ADEN

🔄 Update log

2025-08-12 - 24h Trading Volume $900M Breaking. CEX and DEX infrastructure separation explained, HL share target of 50% - emphasizes long-term growth strategy
2025-08-07 - 24h Trading Volume $600M-active 2,200 (the largest ever). BNB Chain Exclusive and Deposit gas assistance Announcements
➡️ Dune volume: Link /User: Link
2025-08-05 - CMC Derived DEX 24h Volume 2nd place. As part of ADEN's operating revenue BGSC Buyback-Burn Mechanism introduced (percentage calculation based on quarterly volume data)
2025-08-04 - Leaderboards Disqualify the #1 wallet'My Rank' error will be fixed, ETH chain approval issue → temporary BNB recommendation, monitoring function - subaccount viewing notice
2025-08-03 - Shared CEX vs DEX structure comparison, revenue usage (holder events - buyback burn - operating expenses) and quarterly plans (3Q compensation $2.25M, 4Q ratio adjustments)
2025-08-02 - 24h Trading Volume $460M, active 1,777. BGSC 'The Next BNB' Drive strategic and demand-driven talkonomics
2025-08-01 - CMC Derived DEX Trading Volume ~~3rd place~~ → later updated to #2 on 8/5
2025-07-31 - Altcoins 126 Support for stock trading, officially listed on CMC ADEN. Listing-ranking fluctuates based on active users/volume
2025-07-26 -. ASTER Orderbook Service Outage: Withdrawal of proceeds - Delayed withdrawal of funds, no spread improvement. Orderly single delivery

This document will be updated from time to time based on operational announcements.
Update by: 2025-08-13 (kst)