WolfEdge Labs has asked Canton’s Accountability Committee to recognise Cardiv as a delivery-versus-payment venue. The application sets out how the exchange handles a trade from order placement to settlement.
Cardiv uses an order book to match buyers and sellers. Users can place limit, market and stop-loss orders through Calden, its integrated wallet. Assets reserved for an open order stay in a user-owned allocation on Canton rather than moving into the exchange’s custody.
When an order matches, both sides of the trade complete in one transaction. If the required checks fail, neither transfer goes through. Cancelling an order releases the reserved assets back to the user.
The model avoids a separate exchange deposit or withdrawal step. The ledger also prevents users from matching against their own orders.
Identity checks are mandatory, and access is restricted from sanctioned jurisdictions. WolfEdge also describes reviews of cancellation patterns and trading behaviour, with restrictions for flagged accounts.
Trading fees apply to each fill. A future rewards programme would focus on completed trades, with abuse reviews, rather than paying for placements or cancellations. The current request seeks recognition of this settlement model; a decision has not been announced in the application.
