After reading the whitepaper, I'm not clear on how the Indexer is materially different from an order book.
The whitepaper opens by criticizing decentralized order books by saying that:
- There is an execution cost for managing the order book
- The order books are public
- The order books can suffer from front-running
- The order books can be unfair because of latency
It seems to me that, in the common case where parties are publicly advertising their intent to trade with any party, posting to an Indexers is essentially the same as an order book on the above points:
- There's a cost to running an Indexer. How are the fees paid for to incentivize off-chain indexers in Airswap?
- The indexer is public, which is often what you want because you want to buy or sell with anyone, given a price
- You can front-run the indexer when you're not trying to trade with a specific party
- Someone with lower latency can read the Indexer faster than someone with a slower connection.
So I feel like I'm missing something here, particularly around how one pays the Indexers. In 0x, they have Relayer fees. How does that work in Airswap?