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Bayse supports two types of market engines. Each event uses one engine for all of its markets.

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AMM (Automated Market Maker)

  • Algorithmic pricing based on supply/demand.
  • No order book — instant execution.
  • Price adjusts automatically after each trade.
  • Liquidity is always available, however depth depends on individual markets.
Example trade: 
{
  "side": "BUY",
  "outcome": "YES",
  "amount": 100,
  "currency": "USD"
}

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CLOB (Central Limit Order Book)

  • Traditional order book with bids and asks.
  • Users place limit orders at specific prices.
  • Orders match when prices overlap.
  • Liquidity depth is determined by market participants.
Example trade: 
{
  "side": "BUY",
  "outcome": "YES",
  "amount": 100,
  "price": 0.65,
  "currency": "USD"
}
The engine field on an event tells you which engine it uses. See Order lifecycle for how orders behave differently under each engine.