# OTC Marketplace

The OTC marketplace is a React application for PEARL/USDC swaps. It coordinates the Pearl Wallet extension, the PRC20/swap indexer APIs, browser EVM transactions, and the EVM escrow contract.

## Main Capabilities

* View orderbook bids and asks.
* Create EVM escrow bids.
* Create off-chain asks.
* Take asks.
* Accept bids.
* Understand Bot-Assisted and Human-Confirmed order modes.
* Submit Pearl lock proofs.
* Claim USDC when eligible.
* Refund expired swaps.
* Track active and archived swaps.
* Hide internal ask-match bids from the visible orderbook.
* Show role-based CTAs depending on user address and state.

## Public Architecture

The frontend coordinates:

* Pearl Wallet extension interactions;
* EVM wallet transactions;
* public indexer APIs;
* verified escrow contract calls;
* role-based UI actions;
* timers and recovery prompts;
* official explorer links.

Frontend build configuration and internal module layout are maintained outside the public GitBook. These docs focus on user behavior, protocol flow, and verified public addresses.

## Order Modes

The marketplace presents two settlement experiences: Bot-Assisted Orders and Human-Confirmed Orders. Both use the same OTC smart contract lifecycle; the difference is whether eligible session steps can be automated by the Telegram bot or require direct user/counterparty confirmation.

See [Order Modes: Bot-Assisted vs Human-Confirmed](/overview/order-modes.md) for the user-facing model and developer mapping.

## Settlement Model

Buyer USDC is locked in the OTC smart contract rather than sent directly to the seller wallet. Buyers pay 0% Black Pearl Market protocol fee, while normal network gas still applies. Protocol fees are accounted from the seller side through the claim path.

PEARL-side settlement uses an HTLC-style Taproot lock-release model. The seller locks PEARL, prepares a pre-signed release for the known buyer, and the wallet-secured secret coordinates PEARL release with the seller's USDC claim path.

See [PEARL HTLC Settlement Model](/overview/pearl-htlc-model.md) for the public protocol explanation.

See [Why Black Pearl Market's Settlement Model Is Different](/overview/why-black-pearl.md) for the design rationale.


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