# Counterparty DEX

URL: https://blockspace.wiki/glossary/counterparty-dex/

Counterparty's on-chain order book. An order gives one asset to get another, with BTC allowed on either side; a non-BTC give is escrowed until the order fills, expires or is cancelled, and a matched BTC leg must be paid within about 20 blocks. Counterparty has one trade message, and consensus alone decides whether it fills against the book or a [liquidity pool](https://blockspace.wiki/glossary/liquidity-pool/).

Sources:

- Bitcoin Counters v3, indexer and wallet: README (BitcoinCounters/counters) · https://github.com/BitcoinCounters/counters
- counters.fun README (BitcoinCounters/counters.fun) · https://github.com/BitcoinCounters/counters.fun

Updated: 2026-10-20