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A new trading application has entered public testing on Kaspa, allowing users to place buy and sell orders directly on the network without relying on a centralized exchange.
The project, called Kaspa Order Book (KOB), comes from developer Ross, who uses the name @crono_walker on X. He announced its testnet launch on November 12, giving developers and traders access to the software before its planned mainnet release.
For now, KOB operates exclusively on Kaspa's testnet-10. The project has not opened trading with real assets or announced when its mainnet service will become available.
The KOB repository on GitHub describes the software as a permissionless spot trading system built for KCC-20 tokens. It can also support KRON tokens through compatible adapters.
Traders can place limit orders specifying how much they want to buy or sell and at what price. Those orders remain available for matching under conditions set by the trader.
The system takes a different approach from exchanges that use liquidity pools to determine prices. KOB brings together individual buy and sell orders much like the order books used by traditional trading platforms.
There is also no single operator responsible for matching trades. Anyone can run the software needed to connect compatible orders and execute transactions.
These participants, known as executors, may collect the price difference between matched orders and additional tips offered by traders. KOB does not impose a separate protocol fee, although transactions still carry Kaspa network fees.
The software also allows partial fills. A trader offering a larger quantity of tokens can complete the order through several smaller trades.
KOB uses programming features introduced through Kaspa's Toccata hard fork, which activated on June 30, 2026.
One of those additions was support for covenants, which set rules governing how funds can move between transactions. Developers can use these rules to build applications that operate directly on Kaspa's base network.
For KOB, the rules cover the conditions attached to trading orders including ownership, prices and cancellation.
The developer used SilverScript to write the trading contracts and Argent to manage application operations. Together, these tools allow the order book to function without moving its trading logic to an Ethereum-compatible network.
Other developers are exploring similar uses for Kaspa's expanded programming capabilities. These include decentralized trading services and prediction markets, although several projects remain in testing or development.
KOB's public release provides another application for developers to examine as work on these services continues.
Before opening the testnet, KOB underwent security testing involving 23,874 hostile transactions.
Kaspero Labs carried out the checks against the project's contracts, attempting to identify weaknesses that could allow transactions to bypass trading rules.
Ross reported that the exercise found no bugs in the areas tested. Still, the results cover only the checks performed and do not establish that the software is free from security flaws.
The project's security documentation states that KOB has not undergone an independent external audit. Its developers have opened the code for public examination and are accepting reports of possible vulnerabilities.
The specifications may also change as developers review the application and identify areas requiring adjustments.
Users can explore the current testnet with supported wallets, including KasWare and Kaspire. Tokens used during testing carry no monetary value and the mainnet trading interface remains unavailable.
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