Batcher is a new type of DEX that we have named a batch clearing DEX. It provides a dark pool-like trading environment without using liquidity pools or having the issue of significant slippage. Batcher’s goal is to enable users to deposit tokens with the aim of being swapped at afair price withbounded slippage and almost no impermanent loss. This means that all orders for potential swaps between two pairs of tokens are collected over a finite period (currently 10 minutes). This is deemed the batch. After the order collection period is over, the batch is closed to additions. Batcher then waits for the next Oracle price for the token pair. When this is received, the batch is terminated and then Batcher looks to match the maximum amount of orders at the fairest possible price.


For V1, the deposit window will be 10 mins and then a wait time of 2 minutes before awaiting the oracle price. Once we got oracle price, the batch is cleared.


All investing comes with risk and DeFi is no exception. The content in this Dapp contains no financial advice. Please do your own thorough research and note that all users funds are traded at their own risk. No reimbursement will be made and Marigold will not assume responsibility for any losses.


Batcher can deal with token value imbalance which means that holders of tzBTCand holders of USDT can swap different amounts as long as there is a market for thetrade on both sides.

Batcher has been designed to be composable with other high liquidity paths in the Tezos ecosystem, specifically the Sirius DEX; thus, the two pairs that are supported in V1 are tzBTC/USDT and tzBTC/EURL.

For more information including blog posts and faqs, please visit the Batcher project page at Marigold.dev.

Batcher Project Page