{"document_id":"BLC-STUDY-0740","slug":"injective-exchange","title":"Injective: an on-chain order-book exchange module","authors":"Injective Labs","year":2021,"date_label":"2021","publisher":"Injective Labs","paper_type":"Design paper","category":"Markets","topics":["Markets"],"source_url":"https://docs.injective.network/","source_label":"Injective documentation","legacy_pdf_path":null,"sha256":null,"sha256_note":"No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.","version":"Source cited by the 2021 study. The study is the reading. This page does not add a second essay.","doi":null,"rights_status":"Official external source only","source_status":"Official source","use_status":"Metadata and commentary only. The reading is the study page.","licence":null,"licence_label":"No licence recorded. Rights status under review.","full_text":null,"full_text_reason":"Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.","repository":null,"editorial_line":"Injective publishes an exchange module: an order book in the chain's state machine, so a trade is a consensus transition rather than a contract call on a general virtual machine only.","canonical_url":"https://blockchainlab.com/whitepaper/injective-exchange","record_url":"https://blockchainlab.com/research/corpus/papers/injective-exchange","study_url":"https://blockchainlab.com/whitepaper/injective-exchange","last_reviewed":"2026-10-01","last_checked":"2026-10-01","relationships":[{"rel":"Canonical reading","label":"Injective study","href":"/whitepaper/injective-exchange"},{"rel":"Related paper","label":"Sei","href":"/whitepaper/sei-architecture"},{"rel":"Related paper","label":"dYdX v4","href":"/whitepaper/dydx-v4-chain"},{"rel":"Related paper","label":"CometBFT","href":"/whitepaper/cometbft-spec"}]}