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book/src/introduction.md

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# Formal Market Mechanisms
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TLA+ specifications that formally verify and compare market mechanisms — CLOBs, batch auctions, AMMs, and privacy-preserving dark pools — across correctness, fairness, MEV resistance, and decentralizability.
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A collection of TLA+ specifications that formally verify and compare market mechanisms (CLOBs, batch auctions, AMMs, and privacy-preserving dark pools) across correctness, fairness, MEV resistance, and decentralizability.
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```mermaid
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graph LR
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subgraph Exchange mechanisms
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CLOB[CentralizedCLOB<br/>immediacy] --> DCLOB[DecentralizedCLOB<br/>multi-node]
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BA[BatchedAuction<br/>fairness] -->|+ sealed bids| ZK[ZKDarkPool<br/>privacy]
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ZK -->|+ pair hiding| SDEX[ShieldedDEX<br/>full privacy]
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BA -.->|refinement proof| ZK
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end
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subgraph Standalone
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AMM[AMM<br/>always-on liquidity<br/>comparison baseline]
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SAS[ShieldedAtomicSwap<br/>P2P settlement<br/>cross-chain native]
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end
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CLOB[CentralizedCLOB<br/><font size = '-1'>immediacy</font>] --> DCLOB[DecentralizedCLOB<br/><font size = '-1'>multi-node</font>]
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BA[BatchedAuction<br/><font size = '-1'>fairness</font>] -->|+ sealed bids| ZK[ZKDarkPool<br/><font size = '-1'>privacy</font>]
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ZK -->|+ pair hiding| SDEX[ShieldedDEX<br/><font size = '-1'>full privacy</font>]
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BA -.->|refinement proof| ZK
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AS[ShieldedAtomicSwap<br/><font size = '-1'>P2P settlement<br/>cross-chain native</font>]
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AMM[AMM<br/><font size = '-1'>always-on liquidity<br/>comparison baseline</font>]
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```
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**Key results (all TLC-verified, not just argued):**

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