What Dark Book is

The problem it solves

Open pools show every fill. Large buyers leave a trail. Small buyers get picked off by latency. Continuous books turn speed into a tax.

Dark Book collects sealed orders in a fixed window, then clears them together at a single price inside a band around the open-market reference. Inside the batch there is no queue, so there is nothing to bribe for.

What stays private

Balances after deposit stay on your desk. Order size and limit stay off the public board until clearing.

What is public: batch aggregates — clearing volume, share filled inside the pool, deviation from reference. Aggregates that would fingerprint a participant are not shown.

What it is not

Not a continuous dark book. Not leverage. Not a way to hide from a regulator. Positioning matches how traditional dark pools are described: microstructure for size, not secrecy theater.

Status

Soft-seal batch is live: orders stay hidden from the public board until clear, then print at one price. Cryptographic shielding (ZK) is the next stage.

Trading works with a connected wallet and vault deposits. $BOOK stake, MM duty, governance, and fee share turn on when BOOK_TOKEN is set in env.