What if everyone makes empty promises, and the offers in the book are all meant to fail?
This is where Makers must leave a native token provision (the bounty) in their offer. Nothing prevents them from posting offers that will always fail. So, to ensure that the offers displayed on the book are credible, it must be costly for Makers to post orders that are not meant to go through. And in that case scenario, the bounty is then given to the Taker as compensation. 💎
At first glance, this might seem one-sided in favor of Makers. However, with powerful market making features to accept or cancel offers, Makers reduce their risk and can offer better prices. In the end, both Makers and Takers win: the possibility of offers failing is a necessity for the power of smart offers.
Let's spend more time understanding Makers, Takers, and Keepers (yes, that last one is a new term), shall we? 🤓