Description

Here's how it works:

1. Collecting Data: Elixir gathers trading information from various exchanges through special feeds. These feeds only have read access and continuously update with the latest data.
2. Aggregating Data: The gathered data is combined and verified by data aggregators to ensure it’s accurate. This combined data is then sent to validators and auditors.
3. Validating Transactions: Validators, who are part of a decentralized proof of stake (DPoS) system, check and approve transactions. To reach a decision, at least 66% of validators must agree.
4. Relay Nodes: These nodes hold keys for the exchanges and tally up order proposals from validators. Once an order proposal is complete, it is sent to auditors for further verification.
5. Auditing: Auditors check the data and order proposals against pre-set strategies to ensure they are correct. If there are any issues, they can start a dispute process.
6. Dispute Resolution: If there’s a dispute, it is handled by the controller, which manages rewards and penalties. The controller can call Provable.xyz to execute and verify strategies on the blockchain, ensuring everything is done correctly.

In summary, Elixir enables regular users to supply liquidity to exchanges, making trading more efficient and reducing reliance on a few centralized firms. This results in better trading conditions with tighter bid-ask spreads and deeper liquidity, benefiting everyone involved in the trading process.