> For the complete documentation index, see [llms.txt](https://docs.vest.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.vest.exchange/overview/traders/order-book.md).

# Order book

Vest operates a taker-only model, meaning all orders are executed against the platform’s internal AMM rather than matched against other users. As a result, there is no traditional limit order book or maker activity—orders are executed at marketable prices, and liquidity is sourced from the Vest Liquidity Pool.

While Vest maintains a temporary queue of unfilled taker orders, this mechanism does not constitute an on-chain or peer-matching order book. This approach streamlines execution, avoids fragmented liquidity, and reduces latency in trade settlement.

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