diff --git a/abci/example/orderbook/msgs.pb.go b/abci/example/orderbook/msgs.pb.go
index f547e7bb5..89e949218 100644
--- a/abci/example/orderbook/msgs.pb.go
+++ b/abci/example/orderbook/msgs.pb.go
@@ -20,18 +20,20 @@ const (
 	_ = protoimpl.EnforceVersion(protoimpl.MaxVersion - 20)
 )
 
-type MsgPlaceOrder struct {
+type MsgBid struct {
 	state         protoimpl.MessageState
 	sizeCache     protoimpl.SizeCache
 	unknownFields protoimpl.UnknownFields
 
 	Pair      *Pair    `protobuf:"bytes,1,opt,name=pair,proto3" json:"pair,omitempty"`
-	Order     *Order   `protobuf:"bytes,2,opt,name=order,proto3" json:"order,omitempty"`
-	Signature [][]byte `protobuf:"bytes,3,rep,name=signature,proto3" json:"signature,omitempty"`
+	MaxPrice  float64  `protobuf:"fixed64,2,opt,name=max_price,json=maxPrice,proto3" json:"max_price,omitempty"`
+	Quantity  uint64   `protobuf:"varint,3,opt,name=quantity,proto3" json:"quantity,omitempty"`
+	AccountId uint64   `protobuf:"varint,4,opt,name=account_id,json=accountId,proto3" json:"account_id,omitempty"`
+	Signature [][]byte `protobuf:"bytes,5,rep,name=signature,proto3" json:"signature,omitempty"`
 }
 
-func (x *MsgPlaceOrder) Reset() {
-	*x = MsgPlaceOrder{}
+func (x *MsgBid) Reset() {
+	*x = MsgBid{}
 	if protoimpl.UnsafeEnabled {
 		mi := &file_msgs_proto_msgTypes[0]
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
@@ -39,13 +41,13 @@ func (x *MsgPlaceOrder) Reset() {
 	}
 }
 
-func (x *MsgPlaceOrder) String() string {
+func (x *MsgBid) String() string {
 	return protoimpl.X.MessageStringOf(x)
 }
 
-func (*MsgPlaceOrder) ProtoMessage() {}
+func (*MsgBid) ProtoMessage() {}
 
-func (x *MsgPlaceOrder) ProtoReflect() protoreflect.Message {
+func (x *MsgBid) ProtoReflect() protoreflect.Message {
 	mi := &file_msgs_proto_msgTypes[0]
 	if protoimpl.UnsafeEnabled && x != nil {
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
@@ -57,26 +59,119 @@ func (x *MsgPlaceOrder) ProtoReflect() protoreflect.Message {
 	return mi.MessageOf(x)
 }
 
-// Deprecated: Use MsgPlaceOrder.ProtoReflect.Descriptor instead.
-func (*MsgPlaceOrder) Descriptor() ([]byte, []int) {
+// Deprecated: Use MsgBid.ProtoReflect.Descriptor instead.
+func (*MsgBid) Descriptor() ([]byte, []int) {
 	return file_msgs_proto_rawDescGZIP(), []int{0}
 }
 
-func (x *MsgPlaceOrder) GetPair() *Pair {
+func (x *MsgBid) GetPair() *Pair {
 	if x != nil {
 		return x.Pair
 	}
 	return nil
 }
 
-func (x *MsgPlaceOrder) GetOrder() *Order {
+func (x *MsgBid) GetMaxPrice() float64 {
 	if x != nil {
-		return x.Order
+		return x.MaxPrice
+	}
+	return 0
+}
+
+func (x *MsgBid) GetQuantity() uint64 {
+	if x != nil {
+		return x.Quantity
+	}
+	return 0
+}
+
+func (x *MsgBid) GetAccountId() uint64 {
+	if x != nil {
+		return x.AccountId
+	}
+	return 0
+}
+
+func (x *MsgBid) GetSignature() [][]byte {
+	if x != nil {
+		return x.Signature
 	}
 	return nil
 }
 
-func (x *MsgPlaceOrder) GetSignature() [][]byte {
+type MsgAsk struct {
+	state         protoimpl.MessageState
+	sizeCache     protoimpl.SizeCache
+	unknownFields protoimpl.UnknownFields
+
+	Pair      *Pair    `protobuf:"bytes,1,opt,name=pair,proto3" json:"pair,omitempty"`
+	Price     float64  `protobuf:"fixed64,2,opt,name=price,proto3" json:"price,omitempty"`
+	Quantity  uint64   `protobuf:"varint,3,opt,name=quantity,proto3" json:"quantity,omitempty"`
+	AccountId uint64   `protobuf:"varint,4,opt,name=account_id,json=accountId,proto3" json:"account_id,omitempty"`
+	Signature [][]byte `protobuf:"bytes,5,rep,name=signature,proto3" json:"signature,omitempty"`
+}
+
+func (x *MsgAsk) Reset() {
+	*x = MsgAsk{}
+	if protoimpl.UnsafeEnabled {
+		mi := &file_msgs_proto_msgTypes[1]
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		ms.StoreMessageInfo(mi)
+	}
+}
+
+func (x *MsgAsk) String() string {
+	return protoimpl.X.MessageStringOf(x)
+}
+
+func (*MsgAsk) ProtoMessage() {}
+
+func (x *MsgAsk) ProtoReflect() protoreflect.Message {
+	mi := &file_msgs_proto_msgTypes[1]
+	if protoimpl.UnsafeEnabled && x != nil {
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		if ms.LoadMessageInfo() == nil {
+			ms.StoreMessageInfo(mi)
+		}
+		return ms
+	}
+	return mi.MessageOf(x)
+}
+
+// Deprecated: Use MsgAsk.ProtoReflect.Descriptor instead.
+func (*MsgAsk) Descriptor() ([]byte, []int) {
+	return file_msgs_proto_rawDescGZIP(), []int{1}
+}
+
+func (x *MsgAsk) GetPair() *Pair {
+	if x != nil {
+		return x.Pair
+	}
+	return nil
+}
+
+func (x *MsgAsk) GetPrice() float64 {
+	if x != nil {
+		return x.Price
+	}
+	return 0
+}
+
+func (x *MsgAsk) GetQuantity() uint64 {
+	if x != nil {
+		return x.Quantity
+	}
+	return 0
+}
+
+func (x *MsgAsk) GetAccountId() uint64 {
+	if x != nil {
+		return x.AccountId
+	}
+	return 0
+}
+
+func (x *MsgAsk) GetSignature() [][]byte {
 	if x != nil {
 		return x.Signature
 	}
@@ -95,7 +190,7 @@ type MsgCreateAccount struct {
 func (x *MsgCreateAccount) Reset() {
 	*x = MsgCreateAccount{}
 	if protoimpl.UnsafeEnabled {
-		mi := &file_msgs_proto_msgTypes[1]
+		mi := &file_msgs_proto_msgTypes[2]
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		ms.StoreMessageInfo(mi)
 	}
@@ -108,7 +203,7 @@ func (x *MsgCreateAccount) String() string {
 func (*MsgCreateAccount) ProtoMessage() {}
 
 func (x *MsgCreateAccount) ProtoReflect() protoreflect.Message {
-	mi := &file_msgs_proto_msgTypes[1]
+	mi := &file_msgs_proto_msgTypes[2]
 	if protoimpl.UnsafeEnabled && x != nil {
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		if ms.LoadMessageInfo() == nil {
@@ -121,7 +216,7 @@ func (x *MsgCreateAccount) ProtoReflect() protoreflect.Message {
 
 // Deprecated: Use MsgCreateAccount.ProtoReflect.Descriptor instead.
 func (*MsgCreateAccount) Descriptor() ([]byte, []int) {
-	return file_msgs_proto_rawDescGZIP(), []int{1}
+	return file_msgs_proto_rawDescGZIP(), []int{2}
 }
 
 func (x *MsgCreateAccount) GetPublicKey() [][]byte {
@@ -149,7 +244,7 @@ type MsgRegisterPair struct {
 func (x *MsgRegisterPair) Reset() {
 	*x = MsgRegisterPair{}
 	if protoimpl.UnsafeEnabled {
-		mi := &file_msgs_proto_msgTypes[2]
+		mi := &file_msgs_proto_msgTypes[3]
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		ms.StoreMessageInfo(mi)
 	}
@@ -162,7 +257,7 @@ func (x *MsgRegisterPair) String() string {
 func (*MsgRegisterPair) ProtoMessage() {}
 
 func (x *MsgRegisterPair) ProtoReflect() protoreflect.Message {
-	mi := &file_msgs_proto_msgTypes[2]
+	mi := &file_msgs_proto_msgTypes[3]
 	if protoimpl.UnsafeEnabled && x != nil {
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		if ms.LoadMessageInfo() == nil {
@@ -175,7 +270,7 @@ func (x *MsgRegisterPair) ProtoReflect() protoreflect.Message {
 
 // Deprecated: Use MsgRegisterPair.ProtoReflect.Descriptor instead.
 func (*MsgRegisterPair) Descriptor() ([]byte, []int) {
-	return file_msgs_proto_rawDescGZIP(), []int{2}
+	return file_msgs_proto_rawDescGZIP(), []int{3}
 }
 
 func (x *MsgRegisterPair) GetPair() *Pair {
@@ -193,7 +288,8 @@ type Msg struct {
 	//a Msg has to be one of the below
 	//
 	// Types that are assignable to Sum:
-	//	*Msg_MsgPlaceOrder
+	//	*Msg_MsgBid
+	//	*Msg_MsgAsk
 	//	*Msg_MsgRegisterPair
 	//	*Msg_MsgCreateAccount
 	Sum isMsg_Sum `protobuf_oneof:"sum"`
@@ -202,7 +298,7 @@ type Msg struct {
 func (x *Msg) Reset() {
 	*x = Msg{}
 	if protoimpl.UnsafeEnabled {
-		mi := &file_msgs_proto_msgTypes[3]
+		mi := &file_msgs_proto_msgTypes[4]
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		ms.StoreMessageInfo(mi)
 	}
@@ -215,7 +311,7 @@ func (x *Msg) String() string {
 func (*Msg) ProtoMessage() {}
 
 func (x *Msg) ProtoReflect() protoreflect.Message {
-	mi := &file_msgs_proto_msgTypes[3]
+	mi := &file_msgs_proto_msgTypes[4]
 	if protoimpl.UnsafeEnabled && x != nil {
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		if ms.LoadMessageInfo() == nil {
@@ -228,7 +324,7 @@ func (x *Msg) ProtoReflect() protoreflect.Message {
 
 // Deprecated: Use Msg.ProtoReflect.Descriptor instead.
 func (*Msg) Descriptor() ([]byte, []int) {
-	return file_msgs_proto_rawDescGZIP(), []int{3}
+	return file_msgs_proto_rawDescGZIP(), []int{4}
 }
 
 func (m *Msg) GetSum() isMsg_Sum {
@@ -238,9 +334,16 @@ func (m *Msg) GetSum() isMsg_Sum {
 	return nil
 }
 
-func (x *Msg) GetMsgPlaceOrder() *MsgPlaceOrder {
-	if x, ok := x.GetSum().(*Msg_MsgPlaceOrder); ok {
-		return x.MsgPlaceOrder
+func (x *Msg) GetMsgBid() *MsgBid {
+	if x, ok := x.GetSum().(*Msg_MsgBid); ok {
+		return x.MsgBid
+	}
+	return nil
+}
+
+func (x *Msg) GetMsgAsk() *MsgAsk {
+	if x, ok := x.GetSum().(*Msg_MsgAsk); ok {
+		return x.MsgAsk
 	}
 	return nil
 }
@@ -263,19 +366,25 @@ type isMsg_Sum interface {
 	isMsg_Sum()
 }
 
-type Msg_MsgPlaceOrder struct {
-	MsgPlaceOrder *MsgPlaceOrder `protobuf:"bytes,1,opt,name=msg_place_order,json=msgPlaceOrder,proto3,oneof"`
+type Msg_MsgBid struct {
+	MsgBid *MsgBid `protobuf:"bytes,1,opt,name=msg_bid,json=msgBid,proto3,oneof"`
+}
+
+type Msg_MsgAsk struct {
+	MsgAsk *MsgAsk `protobuf:"bytes,2,opt,name=msg_ask,json=msgAsk,proto3,oneof"`
 }
 
 type Msg_MsgRegisterPair struct {
-	MsgRegisterPair *MsgRegisterPair `protobuf:"bytes,2,opt,name=msg_register_pair,json=msgRegisterPair,proto3,oneof"`
+	MsgRegisterPair *MsgRegisterPair `protobuf:"bytes,3,opt,name=msg_register_pair,json=msgRegisterPair,proto3,oneof"`
 }
 
 type Msg_MsgCreateAccount struct {
-	MsgCreateAccount *MsgCreateAccount `protobuf:"bytes,3,opt,name=msg_create_account,json=msgCreateAccount,proto3,oneof"`
+	MsgCreateAccount *MsgCreateAccount `protobuf:"bytes,4,opt,name=msg_create_account,json=msgCreateAccount,proto3,oneof"`
 }
 
-func (*Msg_MsgPlaceOrder) isMsg_Sum() {}
+func (*Msg_MsgBid) isMsg_Sum() {}
+
+func (*Msg_MsgAsk) isMsg_Sum() {}
 
 func (*Msg_MsgRegisterPair) isMsg_Sum() {}
 
@@ -286,43 +395,57 @@ var File_msgs_proto protoreflect.FileDescriptor
 var file_msgs_proto_rawDesc = []byte{
 	0x0a, 0x0a, 0x6d, 0x73, 0x67, 0x73, 0x2e, 0x70, 0x72, 0x6f, 0x74, 0x6f, 0x12, 0x09, 0x6f, 0x72,
 	0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x1a, 0x0a, 0x77, 0x69, 0x72, 0x65, 0x2e, 0x70, 0x72,
-	0x6f, 0x74, 0x6f, 0x22, 0x7a, 0x0a, 0x0d, 0x4d, 0x73, 0x67, 0x50, 0x6c, 0x61, 0x63, 0x65, 0x4f,
-	0x72, 0x64, 0x65, 0x72, 0x12, 0x23, 0x0a, 0x04, 0x70, 0x61, 0x69, 0x72, 0x18, 0x01, 0x20, 0x01,
+	0x6f, 0x74, 0x6f, 0x22, 0xa3, 0x01, 0x0a, 0x06, 0x4d, 0x73, 0x67, 0x42, 0x69, 0x64, 0x12, 0x23,
+	0x0a, 0x04, 0x70, 0x61, 0x69, 0x72, 0x18, 0x01, 0x20, 0x01, 0x28, 0x0b, 0x32, 0x0f, 0x2e, 0x6f,
+	0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x50, 0x61, 0x69, 0x72, 0x52, 0x04, 0x70,
+	0x61, 0x69, 0x72, 0x12, 0x1b, 0x0a, 0x09, 0x6d, 0x61, 0x78, 0x5f, 0x70, 0x72, 0x69, 0x63, 0x65,
+	0x18, 0x02, 0x20, 0x01, 0x28, 0x01, 0x52, 0x08, 0x6d, 0x61, 0x78, 0x50, 0x72, 0x69, 0x63, 0x65,
+	0x12, 0x1a, 0x0a, 0x08, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x18, 0x03, 0x20, 0x01,
+	0x28, 0x04, 0x52, 0x08, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x12, 0x1d, 0x0a, 0x0a,
+	0x61, 0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x5f, 0x69, 0x64, 0x18, 0x04, 0x20, 0x01, 0x28, 0x04,
+	0x52, 0x09, 0x61, 0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x49, 0x64, 0x12, 0x1c, 0x0a, 0x09, 0x73,
+	0x69, 0x67, 0x6e, 0x61, 0x74, 0x75, 0x72, 0x65, 0x18, 0x05, 0x20, 0x03, 0x28, 0x0c, 0x52, 0x09,
+	0x73, 0x69, 0x67, 0x6e, 0x61, 0x74, 0x75, 0x72, 0x65, 0x22, 0x9c, 0x01, 0x0a, 0x06, 0x4d, 0x73,
+	0x67, 0x41, 0x73, 0x6b, 0x12, 0x23, 0x0a, 0x04, 0x70, 0x61, 0x69, 0x72, 0x18, 0x01, 0x20, 0x01,
 	0x28, 0x0b, 0x32, 0x0f, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x50,
-	0x61, 0x69, 0x72, 0x52, 0x04, 0x70, 0x61, 0x69, 0x72, 0x12, 0x26, 0x0a, 0x05, 0x6f, 0x72, 0x64,
-	0x65, 0x72, 0x18, 0x02, 0x20, 0x01, 0x28, 0x0b, 0x32, 0x10, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72,
-	0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x4f, 0x72, 0x64, 0x65, 0x72, 0x52, 0x05, 0x6f, 0x72, 0x64, 0x65,
-	0x72, 0x12, 0x1c, 0x0a, 0x09, 0x73, 0x69, 0x67, 0x6e, 0x61, 0x74, 0x75, 0x72, 0x65, 0x18, 0x03,
-	0x20, 0x03, 0x28, 0x0c, 0x52, 0x09, 0x73, 0x69, 0x67, 0x6e, 0x61, 0x74, 0x75, 0x72, 0x65, 0x22,
-	0x69, 0x0a, 0x10, 0x4d, 0x73, 0x67, 0x43, 0x72, 0x65, 0x61, 0x74, 0x65, 0x41, 0x63, 0x63, 0x6f,
-	0x75, 0x6e, 0x74, 0x12, 0x1d, 0x0a, 0x0a, 0x70, 0x75, 0x62, 0x6c, 0x69, 0x63, 0x5f, 0x6b, 0x65,
-	0x79, 0x18, 0x01, 0x20, 0x03, 0x28, 0x0c, 0x52, 0x09, 0x70, 0x75, 0x62, 0x6c, 0x69, 0x63, 0x4b,
-	0x65, 0x79, 0x12, 0x36, 0x0a, 0x0b, 0x63, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x69, 0x65,
-	0x73, 0x18, 0x02, 0x20, 0x03, 0x28, 0x0b, 0x32, 0x14, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62,
-	0x6f, 0x6f, 0x6b, 0x2e, 0x43, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x79, 0x52, 0x0b, 0x63,
-	0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x69, 0x65, 0x73, 0x22, 0x36, 0x0a, 0x0f, 0x4d, 0x73,
-	0x67, 0x52, 0x65, 0x67, 0x69, 0x73, 0x74, 0x65, 0x72, 0x50, 0x61, 0x69, 0x72, 0x12, 0x23, 0x0a,
-	0x04, 0x70, 0x61, 0x69, 0x72, 0x18, 0x01, 0x20, 0x01, 0x28, 0x0b, 0x32, 0x0f, 0x2e, 0x6f, 0x72,
-	0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x50, 0x61, 0x69, 0x72, 0x52, 0x04, 0x70, 0x61,
-	0x69, 0x72, 0x22, 0xe7, 0x01, 0x0a, 0x03, 0x4d, 0x73, 0x67, 0x12, 0x42, 0x0a, 0x0f, 0x6d, 0x73,
-	0x67, 0x5f, 0x70, 0x6c, 0x61, 0x63, 0x65, 0x5f, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x18, 0x01, 0x20,
-	0x01, 0x28, 0x0b, 0x32, 0x18, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e,
-	0x4d, 0x73, 0x67, 0x50, 0x6c, 0x61, 0x63, 0x65, 0x4f, 0x72, 0x64, 0x65, 0x72, 0x48, 0x00, 0x52,
-	0x0d, 0x6d, 0x73, 0x67, 0x50, 0x6c, 0x61, 0x63, 0x65, 0x4f, 0x72, 0x64, 0x65, 0x72, 0x12, 0x48,
-	0x0a, 0x11, 0x6d, 0x73, 0x67, 0x5f, 0x72, 0x65, 0x67, 0x69, 0x73, 0x74, 0x65, 0x72, 0x5f, 0x70,
-	0x61, 0x69, 0x72, 0x18, 0x02, 0x20, 0x01, 0x28, 0x0b, 0x32, 0x1a, 0x2e, 0x6f, 0x72, 0x64, 0x65,
-	0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x4d, 0x73, 0x67, 0x52, 0x65, 0x67, 0x69, 0x73, 0x74, 0x65,
-	0x72, 0x50, 0x61, 0x69, 0x72, 0x48, 0x00, 0x52, 0x0f, 0x6d, 0x73, 0x67, 0x52, 0x65, 0x67, 0x69,
-	0x73, 0x74, 0x65, 0x72, 0x50, 0x61, 0x69, 0x72, 0x12, 0x4b, 0x0a, 0x12, 0x6d, 0x73, 0x67, 0x5f,
-	0x63, 0x72, 0x65, 0x61, 0x74, 0x65, 0x5f, 0x61, 0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x18, 0x03,
-	0x20, 0x01, 0x28, 0x0b, 0x32, 0x1b, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b,
-	0x2e, 0x4d, 0x73, 0x67, 0x43, 0x72, 0x65, 0x61, 0x74, 0x65, 0x41, 0x63, 0x63, 0x6f, 0x75, 0x6e,
-	0x74, 0x48, 0x00, 0x52, 0x10, 0x6d, 0x73, 0x67, 0x43, 0x72, 0x65, 0x61, 0x74, 0x65, 0x41, 0x63,
-	0x63, 0x6f, 0x75, 0x6e, 0x74, 0x42, 0x05, 0x0a, 0x03, 0x73, 0x75, 0x6d, 0x42, 0x39, 0x5a, 0x37,
-	0x67, 0x69, 0x74, 0x68, 0x75, 0x62, 0x2e, 0x63, 0x6f, 0x6d, 0x2f, 0x74, 0x65, 0x6e, 0x64, 0x65,
-	0x72, 0x6d, 0x69, 0x6e, 0x74, 0x2f, 0x74, 0x65, 0x6e, 0x64, 0x65, 0x72, 0x6d, 0x69, 0x6e, 0x74,
-	0x2f, 0x61, 0x62, 0x63, 0x69, 0x2f, 0x65, 0x78, 0x61, 0x6d, 0x70, 0x6c, 0x65, 0x2f, 0x6f, 0x72,
-	0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x62, 0x06, 0x70, 0x72, 0x6f, 0x74, 0x6f, 0x33,
+	0x61, 0x69, 0x72, 0x52, 0x04, 0x70, 0x61, 0x69, 0x72, 0x12, 0x14, 0x0a, 0x05, 0x70, 0x72, 0x69,
+	0x63, 0x65, 0x18, 0x02, 0x20, 0x01, 0x28, 0x01, 0x52, 0x05, 0x70, 0x72, 0x69, 0x63, 0x65, 0x12,
+	0x1a, 0x0a, 0x08, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x18, 0x03, 0x20, 0x01, 0x28,
+	0x04, 0x52, 0x08, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x12, 0x1d, 0x0a, 0x0a, 0x61,
+	0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x5f, 0x69, 0x64, 0x18, 0x04, 0x20, 0x01, 0x28, 0x04, 0x52,
+	0x09, 0x61, 0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x49, 0x64, 0x12, 0x1c, 0x0a, 0x09, 0x73, 0x69,
+	0x67, 0x6e, 0x61, 0x74, 0x75, 0x72, 0x65, 0x18, 0x05, 0x20, 0x03, 0x28, 0x0c, 0x52, 0x09, 0x73,
+	0x69, 0x67, 0x6e, 0x61, 0x74, 0x75, 0x72, 0x65, 0x22, 0x69, 0x0a, 0x10, 0x4d, 0x73, 0x67, 0x43,
+	0x72, 0x65, 0x61, 0x74, 0x65, 0x41, 0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x12, 0x1d, 0x0a, 0x0a,
+	0x70, 0x75, 0x62, 0x6c, 0x69, 0x63, 0x5f, 0x6b, 0x65, 0x79, 0x18, 0x01, 0x20, 0x03, 0x28, 0x0c,
+	0x52, 0x09, 0x70, 0x75, 0x62, 0x6c, 0x69, 0x63, 0x4b, 0x65, 0x79, 0x12, 0x36, 0x0a, 0x0b, 0x63,
+	0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x69, 0x65, 0x73, 0x18, 0x02, 0x20, 0x03, 0x28, 0x0b,
+	0x32, 0x14, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x43, 0x6f, 0x6d,
+	0x6d, 0x6f, 0x64, 0x69, 0x74, 0x79, 0x52, 0x0b, 0x63, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74,
+	0x69, 0x65, 0x73, 0x22, 0x36, 0x0a, 0x0f, 0x4d, 0x73, 0x67, 0x52, 0x65, 0x67, 0x69, 0x73, 0x74,
+	0x65, 0x72, 0x50, 0x61, 0x69, 0x72, 0x12, 0x23, 0x0a, 0x04, 0x70, 0x61, 0x69, 0x72, 0x18, 0x01,
+	0x20, 0x01, 0x28, 0x0b, 0x32, 0x0f, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b,
+	0x2e, 0x50, 0x61, 0x69, 0x72, 0x52, 0x04, 0x70, 0x61, 0x69, 0x72, 0x22, 0xff, 0x01, 0x0a, 0x03,
+	0x4d, 0x73, 0x67, 0x12, 0x2c, 0x0a, 0x07, 0x6d, 0x73, 0x67, 0x5f, 0x62, 0x69, 0x64, 0x18, 0x01,
+	0x20, 0x01, 0x28, 0x0b, 0x32, 0x11, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b,
+	0x2e, 0x4d, 0x73, 0x67, 0x42, 0x69, 0x64, 0x48, 0x00, 0x52, 0x06, 0x6d, 0x73, 0x67, 0x42, 0x69,
+	0x64, 0x12, 0x2c, 0x0a, 0x07, 0x6d, 0x73, 0x67, 0x5f, 0x61, 0x73, 0x6b, 0x18, 0x02, 0x20, 0x01,
+	0x28, 0x0b, 0x32, 0x11, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x4d,
+	0x73, 0x67, 0x41, 0x73, 0x6b, 0x48, 0x00, 0x52, 0x06, 0x6d, 0x73, 0x67, 0x41, 0x73, 0x6b, 0x12,
+	0x48, 0x0a, 0x11, 0x6d, 0x73, 0x67, 0x5f, 0x72, 0x65, 0x67, 0x69, 0x73, 0x74, 0x65, 0x72, 0x5f,
+	0x70, 0x61, 0x69, 0x72, 0x18, 0x03, 0x20, 0x01, 0x28, 0x0b, 0x32, 0x1a, 0x2e, 0x6f, 0x72, 0x64,
+	0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x4d, 0x73, 0x67, 0x52, 0x65, 0x67, 0x69, 0x73, 0x74,
+	0x65, 0x72, 0x50, 0x61, 0x69, 0x72, 0x48, 0x00, 0x52, 0x0f, 0x6d, 0x73, 0x67, 0x52, 0x65, 0x67,
+	0x69, 0x73, 0x74, 0x65, 0x72, 0x50, 0x61, 0x69, 0x72, 0x12, 0x4b, 0x0a, 0x12, 0x6d, 0x73, 0x67,
+	0x5f, 0x63, 0x72, 0x65, 0x61, 0x74, 0x65, 0x5f, 0x61, 0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x18,
+	0x04, 0x20, 0x01, 0x28, 0x0b, 0x32, 0x1b, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f,
+	0x6b, 0x2e, 0x4d, 0x73, 0x67, 0x43, 0x72, 0x65, 0x61, 0x74, 0x65, 0x41, 0x63, 0x63, 0x6f, 0x75,
+	0x6e, 0x74, 0x48, 0x00, 0x52, 0x10, 0x6d, 0x73, 0x67, 0x43, 0x72, 0x65, 0x61, 0x74, 0x65, 0x41,
+	0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x42, 0x05, 0x0a, 0x03, 0x73, 0x75, 0x6d, 0x42, 0x39, 0x5a,
+	0x37, 0x67, 0x69, 0x74, 0x68, 0x75, 0x62, 0x2e, 0x63, 0x6f, 0x6d, 0x2f, 0x74, 0x65, 0x6e, 0x64,
+	0x65, 0x72, 0x6d, 0x69, 0x6e, 0x74, 0x2f, 0x74, 0x65, 0x6e, 0x64, 0x65, 0x72, 0x6d, 0x69, 0x6e,
+	0x74, 0x2f, 0x61, 0x62, 0x63, 0x69, 0x2f, 0x65, 0x78, 0x61, 0x6d, 0x70, 0x6c, 0x65, 0x2f, 0x6f,
+	0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x62, 0x06, 0x70, 0x72, 0x6f, 0x74, 0x6f, 0x33,
 }
 
 var (
@@ -337,29 +460,30 @@ func file_msgs_proto_rawDescGZIP() []byte {
 	return file_msgs_proto_rawDescData
 }
 
-var file_msgs_proto_msgTypes = make([]protoimpl.MessageInfo, 4)
+var file_msgs_proto_msgTypes = make([]protoimpl.MessageInfo, 5)
 var file_msgs_proto_goTypes = []interface{}{
-	(*MsgPlaceOrder)(nil),    // 0: orderbook.MsgPlaceOrder
-	(*MsgCreateAccount)(nil), // 1: orderbook.MsgCreateAccount
-	(*MsgRegisterPair)(nil),  // 2: orderbook.MsgRegisterPair
-	(*Msg)(nil),              // 3: orderbook.Msg
-	(*Pair)(nil),             // 4: orderbook.Pair
-	(*Order)(nil),            // 5: orderbook.Order
+	(*MsgBid)(nil),           // 0: orderbook.MsgBid
+	(*MsgAsk)(nil),           // 1: orderbook.MsgAsk
+	(*MsgCreateAccount)(nil), // 2: orderbook.MsgCreateAccount
+	(*MsgRegisterPair)(nil),  // 3: orderbook.MsgRegisterPair
+	(*Msg)(nil),              // 4: orderbook.Msg
+	(*Pair)(nil),             // 5: orderbook.Pair
 	(*Commodity)(nil),        // 6: orderbook.Commodity
 }
 var file_msgs_proto_depIdxs = []int32{
-	4, // 0: orderbook.MsgPlaceOrder.pair:type_name -> orderbook.Pair
-	5, // 1: orderbook.MsgPlaceOrder.order:type_name -> orderbook.Order
+	5, // 0: orderbook.MsgBid.pair:type_name -> orderbook.Pair
+	5, // 1: orderbook.MsgAsk.pair:type_name -> orderbook.Pair
 	6, // 2: orderbook.MsgCreateAccount.commodities:type_name -> orderbook.Commodity
-	4, // 3: orderbook.MsgRegisterPair.pair:type_name -> orderbook.Pair
-	0, // 4: orderbook.Msg.msg_place_order:type_name -> orderbook.MsgPlaceOrder
-	2, // 5: orderbook.Msg.msg_register_pair:type_name -> orderbook.MsgRegisterPair
-	1, // 6: orderbook.Msg.msg_create_account:type_name -> orderbook.MsgCreateAccount
-	7, // [7:7] is the sub-list for method output_type
-	7, // [7:7] is the sub-list for method input_type
-	7, // [7:7] is the sub-list for extension type_name
-	7, // [7:7] is the sub-list for extension extendee
-	0, // [0:7] is the sub-list for field type_name
+	5, // 3: orderbook.MsgRegisterPair.pair:type_name -> orderbook.Pair
+	0, // 4: orderbook.Msg.msg_bid:type_name -> orderbook.MsgBid
+	1, // 5: orderbook.Msg.msg_ask:type_name -> orderbook.MsgAsk
+	3, // 6: orderbook.Msg.msg_register_pair:type_name -> orderbook.MsgRegisterPair
+	2, // 7: orderbook.Msg.msg_create_account:type_name -> orderbook.MsgCreateAccount
+	8, // [8:8] is the sub-list for method output_type
+	8, // [8:8] is the sub-list for method input_type
+	8, // [8:8] is the sub-list for extension type_name
+	8, // [8:8] is the sub-list for extension extendee
+	0, // [0:8] is the sub-list for field type_name
 }
 
 func init() { file_msgs_proto_init() }
@@ -370,7 +494,7 @@ func file_msgs_proto_init() {
 	file_wire_proto_init()
 	if !protoimpl.UnsafeEnabled {
 		file_msgs_proto_msgTypes[0].Exporter = func(v interface{}, i int) interface{} {
-			switch v := v.(*MsgPlaceOrder); i {
+			switch v := v.(*MsgBid); i {
 			case 0:
 				return &v.state
 			case 1:
@@ -382,7 +506,7 @@ func file_msgs_proto_init() {
 			}
 		}
 		file_msgs_proto_msgTypes[1].Exporter = func(v interface{}, i int) interface{} {
-			switch v := v.(*MsgCreateAccount); i {
+			switch v := v.(*MsgAsk); i {
 			case 0:
 				return &v.state
 			case 1:
@@ -394,7 +518,7 @@ func file_msgs_proto_init() {
 			}
 		}
 		file_msgs_proto_msgTypes[2].Exporter = func(v interface{}, i int) interface{} {
-			switch v := v.(*MsgRegisterPair); i {
+			switch v := v.(*MsgCreateAccount); i {
 			case 0:
 				return &v.state
 			case 1:
@@ -406,6 +530,18 @@ func file_msgs_proto_init() {
 			}
 		}
 		file_msgs_proto_msgTypes[3].Exporter = func(v interface{}, i int) interface{} {
+			switch v := v.(*MsgRegisterPair); i {
+			case 0:
+				return &v.state
+			case 1:
+				return &v.sizeCache
+			case 2:
+				return &v.unknownFields
+			default:
+				return nil
+			}
+		}
+		file_msgs_proto_msgTypes[4].Exporter = func(v interface{}, i int) interface{} {
 			switch v := v.(*Msg); i {
 			case 0:
 				return &v.state
@@ -418,8 +554,9 @@ func file_msgs_proto_init() {
 			}
 		}
 	}
-	file_msgs_proto_msgTypes[3].OneofWrappers = []interface{}{
-		(*Msg_MsgPlaceOrder)(nil),
+	file_msgs_proto_msgTypes[4].OneofWrappers = []interface{}{
+		(*Msg_MsgBid)(nil),
+		(*Msg_MsgAsk)(nil),
 		(*Msg_MsgRegisterPair)(nil),
 		(*Msg_MsgCreateAccount)(nil),
 	}
@@ -429,7 +566,7 @@ func file_msgs_proto_init() {
 			GoPackagePath: reflect.TypeOf(x{}).PkgPath(),
 			RawDescriptor: file_msgs_proto_rawDesc,
 			NumEnums:      0,
-			NumMessages:   4,
+			NumMessages:   5,
 			NumExtensions: 0,
 			NumServices:   0,
 		},
diff --git a/abci/example/orderbook/msgs.proto b/abci/example/orderbook/msgs.proto
index 62ff9d668..03e1e2a2a 100644
--- a/abci/example/orderbook/msgs.proto
+++ b/abci/example/orderbook/msgs.proto
@@ -8,15 +8,15 @@ import "wire.proto";
 message MsgBid {
     Pair pair  = 1;
     double max_price = 2;
-    double quantity = 3;
+    uint64 quantity = 3;
     uint64 account_id = 4;
-    repeated bytes signature = 4;
+    repeated bytes signature = 5;
 }
 
 message MsgAsk {
     Pair pair  = 1;
-    double min_price = 2;
-    double quantity = 3;
+    double price = 2;
+    uint64 quantity = 3;
     uint64 account_id = 4;
     repeated bytes signature = 5;
 }
@@ -33,8 +33,9 @@ message MsgRegisterPair {
 message Msg {
     //a Msg has to be one of the below
     oneof sum {
-        MsgPlaceOrder msg_place_order = 1;
-        MsgRegisterPair msg_register_pair = 2;
-        MsgCreateAccount msg_create_account = 3;
+        MsgBid msg_bid = 1;
+        MsgAsk msg_ask = 2;
+        MsgRegisterPair msg_register_pair = 3;
+        MsgCreateAccount msg_create_account = 4;
     }
 }
\ No newline at end of file
diff --git a/abci/example/orderbook/wire.pb.go b/abci/example/orderbook/wire.pb.go
index b7c374f3f..3a2f7abb1 100644
--- a/abci/example/orderbook/wire.pb.go
+++ b/abci/example/orderbook/wire.pb.go
@@ -20,82 +20,21 @@ const (
 	_ = protoimpl.EnforceVersion(protoimpl.MaxVersion - 20)
 )
 
-type Order struct {
-	state         protoimpl.MessageState
-	sizeCache     protoimpl.SizeCache
-	unknownFields protoimpl.UnknownFields
-
-	QuantityOutbound uint64  `protobuf:"varint,1,opt,name=quantity_outbound,json=quantityOutbound,proto3" json:"quantity_outbound,omitempty"`
-	MinPrice         float64 `protobuf:"fixed64,2,opt,name=min_price,json=minPrice,proto3" json:"min_price,omitempty"`
-	Owner            uint64  `protobuf:"varint,3,opt,name=owner,proto3" json:"owner,omitempty"`
-}
-
-func (x *Order) Reset() {
-	*x = Order{}
-	if protoimpl.UnsafeEnabled {
-		mi := &file_wire_proto_msgTypes[0]
-		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
-		ms.StoreMessageInfo(mi)
-	}
-}
-
-func (x *Order) String() string {
-	return protoimpl.X.MessageStringOf(x)
-}
-
-func (*Order) ProtoMessage() {}
-
-func (x *Order) ProtoReflect() protoreflect.Message {
-	mi := &file_wire_proto_msgTypes[0]
-	if protoimpl.UnsafeEnabled && x != nil {
-		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
-		if ms.LoadMessageInfo() == nil {
-			ms.StoreMessageInfo(mi)
-		}
-		return ms
-	}
-	return mi.MessageOf(x)
-}
-
-// Deprecated: Use Order.ProtoReflect.Descriptor instead.
-func (*Order) Descriptor() ([]byte, []int) {
-	return file_wire_proto_rawDescGZIP(), []int{0}
-}
-
-func (x *Order) GetQuantityOutbound() uint64 {
-	if x != nil {
-		return x.QuantityOutbound
-	}
-	return 0
-}
-
-func (x *Order) GetMinPrice() float64 {
-	if x != nil {
-		return x.MinPrice
-	}
-	return 0
-}
-
-func (x *Order) GetOwner() uint64 {
-	if x != nil {
-		return x.Owner
-	}
-	return 0
-}
-
 type Pair struct {
 	state         protoimpl.MessageState
 	sizeCache     protoimpl.SizeCache
 	unknownFields protoimpl.UnknownFields
 
-	InboundCommodityDenom  string `protobuf:"bytes,1,opt,name=inbound_commodity_denom,json=inboundCommodityDenom,proto3" json:"inbound_commodity_denom,omitempty"`
-	OutboundCommodityDenom string `protobuf:"bytes,2,opt,name=outbound_commodity_denom,json=outboundCommodityDenom,proto3" json:"outbound_commodity_denom,omitempty"`
+	// the denomination that the buyer receives i.e. EUR
+	BuyersDenomination string `protobuf:"bytes,1,opt,name=buyers_denomination,json=buyersDenomination,proto3" json:"buyers_denomination,omitempty"`
+	// the denomination that the seller receives i.e. USD
+	SellersDenomination string `protobuf:"bytes,2,opt,name=sellers_denomination,json=sellersDenomination,proto3" json:"sellers_denomination,omitempty"`
 }
 
 func (x *Pair) Reset() {
 	*x = Pair{}
 	if protoimpl.UnsafeEnabled {
-		mi := &file_wire_proto_msgTypes[1]
+		mi := &file_wire_proto_msgTypes[0]
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		ms.StoreMessageInfo(mi)
 	}
@@ -108,7 +47,7 @@ func (x *Pair) String() string {
 func (*Pair) ProtoMessage() {}
 
 func (x *Pair) ProtoReflect() protoreflect.Message {
-	mi := &file_wire_proto_msgTypes[1]
+	mi := &file_wire_proto_msgTypes[0]
 	if protoimpl.UnsafeEnabled && x != nil {
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		if ms.LoadMessageInfo() == nil {
@@ -121,19 +60,19 @@ func (x *Pair) ProtoReflect() protoreflect.Message {
 
 // Deprecated: Use Pair.ProtoReflect.Descriptor instead.
 func (*Pair) Descriptor() ([]byte, []int) {
-	return file_wire_proto_rawDescGZIP(), []int{1}
+	return file_wire_proto_rawDescGZIP(), []int{0}
 }
 
-func (x *Pair) GetInboundCommodityDenom() string {
+func (x *Pair) GetBuyersDenomination() string {
 	if x != nil {
-		return x.InboundCommodityDenom
+		return x.BuyersDenomination
 	}
 	return ""
 }
 
-func (x *Pair) GetOutboundCommodityDenom() string {
+func (x *Pair) GetSellersDenomination() string {
 	if x != nil {
-		return x.OutboundCommodityDenom
+		return x.SellersDenomination
 	}
 	return ""
 }
@@ -150,7 +89,7 @@ type Commodity struct {
 func (x *Commodity) Reset() {
 	*x = Commodity{}
 	if protoimpl.UnsafeEnabled {
-		mi := &file_wire_proto_msgTypes[2]
+		mi := &file_wire_proto_msgTypes[1]
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		ms.StoreMessageInfo(mi)
 	}
@@ -163,7 +102,7 @@ func (x *Commodity) String() string {
 func (*Commodity) ProtoMessage() {}
 
 func (x *Commodity) ProtoReflect() protoreflect.Message {
-	mi := &file_wire_proto_msgTypes[2]
+	mi := &file_wire_proto_msgTypes[1]
 	if protoimpl.UnsafeEnabled && x != nil {
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		if ms.LoadMessageInfo() == nil {
@@ -176,7 +115,7 @@ func (x *Commodity) ProtoReflect() protoreflect.Message {
 
 // Deprecated: Use Commodity.ProtoReflect.Descriptor instead.
 func (*Commodity) Descriptor() ([]byte, []int) {
-	return file_wire_proto_rawDescGZIP(), []int{2}
+	return file_wire_proto_rawDescGZIP(), []int{1}
 }
 
 func (x *Commodity) GetDenom() string {
@@ -198,15 +137,16 @@ type Account struct {
 	sizeCache     protoimpl.SizeCache
 	unknownFields protoimpl.UnknownFields
 
-	Index       uint64       `protobuf:"varint,1,opt,name=index,proto3" json:"index,omitempty"`
-	PublicKey   [][]byte     `protobuf:"bytes,2,rep,name=public_key,json=publicKey,proto3" json:"public_key,omitempty"`
+	Index     uint64   `protobuf:"varint,1,opt,name=index,proto3" json:"index,omitempty"`
+	PublicKey [][]byte `protobuf:"bytes,2,rep,name=public_key,json=publicKey,proto3" json:"public_key,omitempty"`
+	// the set of commodities that the account has
 	Commodities []*Commodity `protobuf:"bytes,3,rep,name=commodities,proto3" json:"commodities,omitempty"`
 }
 
 func (x *Account) Reset() {
 	*x = Account{}
 	if protoimpl.UnsafeEnabled {
-		mi := &file_wire_proto_msgTypes[3]
+		mi := &file_wire_proto_msgTypes[2]
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		ms.StoreMessageInfo(mi)
 	}
@@ -219,7 +159,7 @@ func (x *Account) String() string {
 func (*Account) ProtoMessage() {}
 
 func (x *Account) ProtoReflect() protoreflect.Message {
-	mi := &file_wire_proto_msgTypes[3]
+	mi := &file_wire_proto_msgTypes[2]
 	if protoimpl.UnsafeEnabled && x != nil {
 		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
 		if ms.LoadMessageInfo() == nil {
@@ -232,7 +172,7 @@ func (x *Account) ProtoReflect() protoreflect.Message {
 
 // Deprecated: Use Account.ProtoReflect.Descriptor instead.
 func (*Account) Descriptor() ([]byte, []int) {
-	return file_wire_proto_rawDescGZIP(), []int{3}
+	return file_wire_proto_rawDescGZIP(), []int{2}
 }
 
 func (x *Account) GetIndex() uint64 {
@@ -256,41 +196,214 @@ func (x *Account) GetCommodities() []*Commodity {
 	return nil
 }
 
+// TradeSet is the transaction that eventually is committed in a block
+// It is derived from a group of MsgBid and MsgAsk's
+type TradeSet struct {
+	state         protoimpl.MessageState
+	sizeCache     protoimpl.SizeCache
+	unknownFields protoimpl.UnknownFields
+
+	Pair *Pair `protobuf:"bytes,1,opt,name=pair,proto3" json:"pair,omitempty"` // i.e. EUR/USD
+	// the set of matched trades for that peer
+	MatchedOrders []*MatchedOrder `protobuf:"bytes,2,rep,name=matched_orders,json=matchedOrders,proto3" json:"matched_orders,omitempty"`
+}
+
+func (x *TradeSet) Reset() {
+	*x = TradeSet{}
+	if protoimpl.UnsafeEnabled {
+		mi := &file_wire_proto_msgTypes[3]
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		ms.StoreMessageInfo(mi)
+	}
+}
+
+func (x *TradeSet) String() string {
+	return protoimpl.X.MessageStringOf(x)
+}
+
+func (*TradeSet) ProtoMessage() {}
+
+func (x *TradeSet) ProtoReflect() protoreflect.Message {
+	mi := &file_wire_proto_msgTypes[3]
+	if protoimpl.UnsafeEnabled && x != nil {
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		if ms.LoadMessageInfo() == nil {
+			ms.StoreMessageInfo(mi)
+		}
+		return ms
+	}
+	return mi.MessageOf(x)
+}
+
+// Deprecated: Use TradeSet.ProtoReflect.Descriptor instead.
+func (*TradeSet) Descriptor() ([]byte, []int) {
+	return file_wire_proto_rawDescGZIP(), []int{3}
+}
+
+func (x *TradeSet) GetPair() *Pair {
+	if x != nil {
+		return x.Pair
+	}
+	return nil
+}
+
+func (x *TradeSet) GetMatchedOrders() []*MatchedOrder {
+	if x != nil {
+		return x.MatchedOrders
+	}
+	return nil
+}
+
+type MatchedOrder struct {
+	state         protoimpl.MessageState
+	sizeCache     protoimpl.SizeCache
+	unknownFields protoimpl.UnknownFields
+
+	// the quantity the buyer receives and the seller gives
+	Quantity uint64 `protobuf:"varint,1,opt,name=quantity,proto3" json:"quantity,omitempty"`
+	// the price the buyer pays for the quantity. The seller receives
+	// price * quantity of the sellers denomination (i.e. USD)
+	Price   float64 `protobuf:"fixed64,2,opt,name=price,proto3" json:"price,omitempty"`
+	BuyerId uint64  `protobuf:"varint,3,opt,name=buyer_id,json=buyerId,proto3" json:"buyer_id,omitempty"`
+	// the limit the buyer was willing to pay for. This must be more or
+	// equal to the price. We use this to prove with the signature that
+	// the buyer actually wanted to pay that much for the commodity
+	BuyerLimit      float64  `protobuf:"fixed64,4,opt,name=buyer_limit,json=buyerLimit,proto3" json:"buyer_limit,omitempty"`
+	BuyerSignature  [][]byte `protobuf:"bytes,5,rep,name=buyer_signature,json=buyerSignature,proto3" json:"buyer_signature,omitempty"`
+	SellerId        uint64   `protobuf:"varint,6,opt,name=seller_id,json=sellerId,proto3" json:"seller_id,omitempty"`
+	SellerSignature [][]byte `protobuf:"bytes,7,rep,name=seller_signature,json=sellerSignature,proto3" json:"seller_signature,omitempty"`
+}
+
+func (x *MatchedOrder) Reset() {
+	*x = MatchedOrder{}
+	if protoimpl.UnsafeEnabled {
+		mi := &file_wire_proto_msgTypes[4]
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		ms.StoreMessageInfo(mi)
+	}
+}
+
+func (x *MatchedOrder) String() string {
+	return protoimpl.X.MessageStringOf(x)
+}
+
+func (*MatchedOrder) ProtoMessage() {}
+
+func (x *MatchedOrder) ProtoReflect() protoreflect.Message {
+	mi := &file_wire_proto_msgTypes[4]
+	if protoimpl.UnsafeEnabled && x != nil {
+		ms := protoimpl.X.MessageStateOf(protoimpl.Pointer(x))
+		if ms.LoadMessageInfo() == nil {
+			ms.StoreMessageInfo(mi)
+		}
+		return ms
+	}
+	return mi.MessageOf(x)
+}
+
+// Deprecated: Use MatchedOrder.ProtoReflect.Descriptor instead.
+func (*MatchedOrder) Descriptor() ([]byte, []int) {
+	return file_wire_proto_rawDescGZIP(), []int{4}
+}
+
+func (x *MatchedOrder) GetQuantity() uint64 {
+	if x != nil {
+		return x.Quantity
+	}
+	return 0
+}
+
+func (x *MatchedOrder) GetPrice() float64 {
+	if x != nil {
+		return x.Price
+	}
+	return 0
+}
+
+func (x *MatchedOrder) GetBuyerId() uint64 {
+	if x != nil {
+		return x.BuyerId
+	}
+	return 0
+}
+
+func (x *MatchedOrder) GetBuyerLimit() float64 {
+	if x != nil {
+		return x.BuyerLimit
+	}
+	return 0
+}
+
+func (x *MatchedOrder) GetBuyerSignature() [][]byte {
+	if x != nil {
+		return x.BuyerSignature
+	}
+	return nil
+}
+
+func (x *MatchedOrder) GetSellerId() uint64 {
+	if x != nil {
+		return x.SellerId
+	}
+	return 0
+}
+
+func (x *MatchedOrder) GetSellerSignature() [][]byte {
+	if x != nil {
+		return x.SellerSignature
+	}
+	return nil
+}
+
 var File_wire_proto protoreflect.FileDescriptor
 
 var file_wire_proto_rawDesc = []byte{
 	0x0a, 0x0a, 0x77, 0x69, 0x72, 0x65, 0x2e, 0x70, 0x72, 0x6f, 0x74, 0x6f, 0x12, 0x09, 0x6f, 0x72,
-	0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x22, 0x67, 0x0a, 0x05, 0x4f, 0x72, 0x64, 0x65, 0x72,
-	0x12, 0x2b, 0x0a, 0x11, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x5f, 0x6f, 0x75, 0x74,
-	0x62, 0x6f, 0x75, 0x6e, 0x64, 0x18, 0x01, 0x20, 0x01, 0x28, 0x04, 0x52, 0x10, 0x71, 0x75, 0x61,
-	0x6e, 0x74, 0x69, 0x74, 0x79, 0x4f, 0x75, 0x74, 0x62, 0x6f, 0x75, 0x6e, 0x64, 0x12, 0x1b, 0x0a,
-	0x09, 0x6d, 0x69, 0x6e, 0x5f, 0x70, 0x72, 0x69, 0x63, 0x65, 0x18, 0x02, 0x20, 0x01, 0x28, 0x01,
-	0x52, 0x08, 0x6d, 0x69, 0x6e, 0x50, 0x72, 0x69, 0x63, 0x65, 0x12, 0x14, 0x0a, 0x05, 0x6f, 0x77,
-	0x6e, 0x65, 0x72, 0x18, 0x03, 0x20, 0x01, 0x28, 0x04, 0x52, 0x05, 0x6f, 0x77, 0x6e, 0x65, 0x72,
-	0x22, 0x78, 0x0a, 0x04, 0x50, 0x61, 0x69, 0x72, 0x12, 0x36, 0x0a, 0x17, 0x69, 0x6e, 0x62, 0x6f,
-	0x75, 0x6e, 0x64, 0x5f, 0x63, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x79, 0x5f, 0x64, 0x65,
-	0x6e, 0x6f, 0x6d, 0x18, 0x01, 0x20, 0x01, 0x28, 0x09, 0x52, 0x15, 0x69, 0x6e, 0x62, 0x6f, 0x75,
-	0x6e, 0x64, 0x43, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x79, 0x44, 0x65, 0x6e, 0x6f, 0x6d,
-	0x12, 0x38, 0x0a, 0x18, 0x6f, 0x75, 0x74, 0x62, 0x6f, 0x75, 0x6e, 0x64, 0x5f, 0x63, 0x6f, 0x6d,
-	0x6d, 0x6f, 0x64, 0x69, 0x74, 0x79, 0x5f, 0x64, 0x65, 0x6e, 0x6f, 0x6d, 0x18, 0x02, 0x20, 0x01,
-	0x28, 0x09, 0x52, 0x16, 0x6f, 0x75, 0x74, 0x62, 0x6f, 0x75, 0x6e, 0x64, 0x43, 0x6f, 0x6d, 0x6d,
-	0x6f, 0x64, 0x69, 0x74, 0x79, 0x44, 0x65, 0x6e, 0x6f, 0x6d, 0x22, 0x3d, 0x0a, 0x09, 0x43, 0x6f,
-	0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x79, 0x12, 0x14, 0x0a, 0x05, 0x64, 0x65, 0x6e, 0x6f, 0x6d,
-	0x18, 0x01, 0x20, 0x01, 0x28, 0x09, 0x52, 0x05, 0x64, 0x65, 0x6e, 0x6f, 0x6d, 0x12, 0x1a, 0x0a,
-	0x08, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x18, 0x02, 0x20, 0x01, 0x28, 0x04, 0x52,
-	0x08, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x22, 0x76, 0x0a, 0x07, 0x41, 0x63, 0x63,
-	0x6f, 0x75, 0x6e, 0x74, 0x12, 0x14, 0x0a, 0x05, 0x69, 0x6e, 0x64, 0x65, 0x78, 0x18, 0x01, 0x20,
-	0x01, 0x28, 0x04, 0x52, 0x05, 0x69, 0x6e, 0x64, 0x65, 0x78, 0x12, 0x1d, 0x0a, 0x0a, 0x70, 0x75,
-	0x62, 0x6c, 0x69, 0x63, 0x5f, 0x6b, 0x65, 0x79, 0x18, 0x02, 0x20, 0x03, 0x28, 0x0c, 0x52, 0x09,
-	0x70, 0x75, 0x62, 0x6c, 0x69, 0x63, 0x4b, 0x65, 0x79, 0x12, 0x36, 0x0a, 0x0b, 0x63, 0x6f, 0x6d,
-	0x6d, 0x6f, 0x64, 0x69, 0x74, 0x69, 0x65, 0x73, 0x18, 0x03, 0x20, 0x03, 0x28, 0x0b, 0x32, 0x14,
-	0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e, 0x43, 0x6f, 0x6d, 0x6d, 0x6f,
-	0x64, 0x69, 0x74, 0x79, 0x52, 0x0b, 0x63, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x69, 0x65,
-	0x73, 0x42, 0x39, 0x5a, 0x37, 0x67, 0x69, 0x74, 0x68, 0x75, 0x62, 0x2e, 0x63, 0x6f, 0x6d, 0x2f,
-	0x74, 0x65, 0x6e, 0x64, 0x65, 0x72, 0x6d, 0x69, 0x6e, 0x74, 0x2f, 0x74, 0x65, 0x6e, 0x64, 0x65,
-	0x72, 0x6d, 0x69, 0x6e, 0x74, 0x2f, 0x61, 0x62, 0x63, 0x69, 0x2f, 0x65, 0x78, 0x61, 0x6d, 0x70,
-	0x6c, 0x65, 0x2f, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x62, 0x06, 0x70, 0x72,
-	0x6f, 0x74, 0x6f, 0x33,
+	0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x22, 0x6a, 0x0a, 0x04, 0x50, 0x61, 0x69, 0x72, 0x12,
+	0x2f, 0x0a, 0x13, 0x62, 0x75, 0x79, 0x65, 0x72, 0x73, 0x5f, 0x64, 0x65, 0x6e, 0x6f, 0x6d, 0x69,
+	0x6e, 0x61, 0x74, 0x69, 0x6f, 0x6e, 0x18, 0x01, 0x20, 0x01, 0x28, 0x09, 0x52, 0x12, 0x62, 0x75,
+	0x79, 0x65, 0x72, 0x73, 0x44, 0x65, 0x6e, 0x6f, 0x6d, 0x69, 0x6e, 0x61, 0x74, 0x69, 0x6f, 0x6e,
+	0x12, 0x31, 0x0a, 0x14, 0x73, 0x65, 0x6c, 0x6c, 0x65, 0x72, 0x73, 0x5f, 0x64, 0x65, 0x6e, 0x6f,
+	0x6d, 0x69, 0x6e, 0x61, 0x74, 0x69, 0x6f, 0x6e, 0x18, 0x02, 0x20, 0x01, 0x28, 0x09, 0x52, 0x13,
+	0x73, 0x65, 0x6c, 0x6c, 0x65, 0x72, 0x73, 0x44, 0x65, 0x6e, 0x6f, 0x6d, 0x69, 0x6e, 0x61, 0x74,
+	0x69, 0x6f, 0x6e, 0x22, 0x3d, 0x0a, 0x09, 0x43, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x79,
+	0x12, 0x14, 0x0a, 0x05, 0x64, 0x65, 0x6e, 0x6f, 0x6d, 0x18, 0x01, 0x20, 0x01, 0x28, 0x09, 0x52,
+	0x05, 0x64, 0x65, 0x6e, 0x6f, 0x6d, 0x12, 0x1a, 0x0a, 0x08, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69,
+	0x74, 0x79, 0x18, 0x02, 0x20, 0x01, 0x28, 0x04, 0x52, 0x08, 0x71, 0x75, 0x61, 0x6e, 0x74, 0x69,
+	0x74, 0x79, 0x22, 0x76, 0x0a, 0x07, 0x41, 0x63, 0x63, 0x6f, 0x75, 0x6e, 0x74, 0x12, 0x14, 0x0a,
+	0x05, 0x69, 0x6e, 0x64, 0x65, 0x78, 0x18, 0x01, 0x20, 0x01, 0x28, 0x04, 0x52, 0x05, 0x69, 0x6e,
+	0x64, 0x65, 0x78, 0x12, 0x1d, 0x0a, 0x0a, 0x70, 0x75, 0x62, 0x6c, 0x69, 0x63, 0x5f, 0x6b, 0x65,
+	0x79, 0x18, 0x02, 0x20, 0x03, 0x28, 0x0c, 0x52, 0x09, 0x70, 0x75, 0x62, 0x6c, 0x69, 0x63, 0x4b,
+	0x65, 0x79, 0x12, 0x36, 0x0a, 0x0b, 0x63, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x69, 0x65,
+	0x73, 0x18, 0x03, 0x20, 0x03, 0x28, 0x0b, 0x32, 0x14, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62,
+	0x6f, 0x6f, 0x6b, 0x2e, 0x43, 0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x79, 0x52, 0x0b, 0x63,
+	0x6f, 0x6d, 0x6d, 0x6f, 0x64, 0x69, 0x74, 0x69, 0x65, 0x73, 0x22, 0x6f, 0x0a, 0x08, 0x54, 0x72,
+	0x61, 0x64, 0x65, 0x53, 0x65, 0x74, 0x12, 0x23, 0x0a, 0x04, 0x70, 0x61, 0x69, 0x72, 0x18, 0x01,
+	0x20, 0x01, 0x28, 0x0b, 0x32, 0x0f, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b,
+	0x2e, 0x50, 0x61, 0x69, 0x72, 0x52, 0x04, 0x70, 0x61, 0x69, 0x72, 0x12, 0x3e, 0x0a, 0x0e, 0x6d,
+	0x61, 0x74, 0x63, 0x68, 0x65, 0x64, 0x5f, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x73, 0x18, 0x02, 0x20,
+	0x03, 0x28, 0x0b, 0x32, 0x17, 0x2e, 0x6f, 0x72, 0x64, 0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x2e,
+	0x4d, 0x61, 0x74, 0x63, 0x68, 0x65, 0x64, 0x4f, 0x72, 0x64, 0x65, 0x72, 0x52, 0x0d, 0x6d, 0x61,
+	0x74, 0x63, 0x68, 0x65, 0x64, 0x4f, 0x72, 0x64, 0x65, 0x72, 0x73, 0x22, 0xed, 0x01, 0x0a, 0x0c,
+	0x4d, 0x61, 0x74, 0x63, 0x68, 0x65, 0x64, 0x4f, 0x72, 0x64, 0x65, 0x72, 0x12, 0x1a, 0x0a, 0x08,
+	0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x18, 0x01, 0x20, 0x01, 0x28, 0x04, 0x52, 0x08,
+	0x71, 0x75, 0x61, 0x6e, 0x74, 0x69, 0x74, 0x79, 0x12, 0x14, 0x0a, 0x05, 0x70, 0x72, 0x69, 0x63,
+	0x65, 0x18, 0x02, 0x20, 0x01, 0x28, 0x01, 0x52, 0x05, 0x70, 0x72, 0x69, 0x63, 0x65, 0x12, 0x19,
+	0x0a, 0x08, 0x62, 0x75, 0x79, 0x65, 0x72, 0x5f, 0x69, 0x64, 0x18, 0x03, 0x20, 0x01, 0x28, 0x04,
+	0x52, 0x07, 0x62, 0x75, 0x79, 0x65, 0x72, 0x49, 0x64, 0x12, 0x1f, 0x0a, 0x0b, 0x62, 0x75, 0x79,
+	0x65, 0x72, 0x5f, 0x6c, 0x69, 0x6d, 0x69, 0x74, 0x18, 0x04, 0x20, 0x01, 0x28, 0x01, 0x52, 0x0a,
+	0x62, 0x75, 0x79, 0x65, 0x72, 0x4c, 0x69, 0x6d, 0x69, 0x74, 0x12, 0x27, 0x0a, 0x0f, 0x62, 0x75,
+	0x79, 0x65, 0x72, 0x5f, 0x73, 0x69, 0x67, 0x6e, 0x61, 0x74, 0x75, 0x72, 0x65, 0x18, 0x05, 0x20,
+	0x03, 0x28, 0x0c, 0x52, 0x0e, 0x62, 0x75, 0x79, 0x65, 0x72, 0x53, 0x69, 0x67, 0x6e, 0x61, 0x74,
+	0x75, 0x72, 0x65, 0x12, 0x1b, 0x0a, 0x09, 0x73, 0x65, 0x6c, 0x6c, 0x65, 0x72, 0x5f, 0x69, 0x64,
+	0x18, 0x06, 0x20, 0x01, 0x28, 0x04, 0x52, 0x08, 0x73, 0x65, 0x6c, 0x6c, 0x65, 0x72, 0x49, 0x64,
+	0x12, 0x29, 0x0a, 0x10, 0x73, 0x65, 0x6c, 0x6c, 0x65, 0x72, 0x5f, 0x73, 0x69, 0x67, 0x6e, 0x61,
+	0x74, 0x75, 0x72, 0x65, 0x18, 0x07, 0x20, 0x03, 0x28, 0x0c, 0x52, 0x0f, 0x73, 0x65, 0x6c, 0x6c,
+	0x65, 0x72, 0x53, 0x69, 0x67, 0x6e, 0x61, 0x74, 0x75, 0x72, 0x65, 0x42, 0x39, 0x5a, 0x37, 0x67,
+	0x69, 0x74, 0x68, 0x75, 0x62, 0x2e, 0x63, 0x6f, 0x6d, 0x2f, 0x74, 0x65, 0x6e, 0x64, 0x65, 0x72,
+	0x6d, 0x69, 0x6e, 0x74, 0x2f, 0x74, 0x65, 0x6e, 0x64, 0x65, 0x72, 0x6d, 0x69, 0x6e, 0x74, 0x2f,
+	0x61, 0x62, 0x63, 0x69, 0x2f, 0x65, 0x78, 0x61, 0x6d, 0x70, 0x6c, 0x65, 0x2f, 0x6f, 0x72, 0x64,
+	0x65, 0x72, 0x62, 0x6f, 0x6f, 0x6b, 0x62, 0x06, 0x70, 0x72, 0x6f, 0x74, 0x6f, 0x33,
 }
 
 var (
@@ -305,20 +418,23 @@ func file_wire_proto_rawDescGZIP() []byte {
 	return file_wire_proto_rawDescData
 }
 
-var file_wire_proto_msgTypes = make([]protoimpl.MessageInfo, 4)
+var file_wire_proto_msgTypes = make([]protoimpl.MessageInfo, 5)
 var file_wire_proto_goTypes = []interface{}{
-	(*Order)(nil),     // 0: orderbook.Order
-	(*Pair)(nil),      // 1: orderbook.Pair
-	(*Commodity)(nil), // 2: orderbook.Commodity
-	(*Account)(nil),   // 3: orderbook.Account
+	(*Pair)(nil),         // 0: orderbook.Pair
+	(*Commodity)(nil),    // 1: orderbook.Commodity
+	(*Account)(nil),      // 2: orderbook.Account
+	(*TradeSet)(nil),     // 3: orderbook.TradeSet
+	(*MatchedOrder)(nil), // 4: orderbook.MatchedOrder
 }
 var file_wire_proto_depIdxs = []int32{
-	2, // 0: orderbook.Account.commodities:type_name -> orderbook.Commodity
-	1, // [1:1] is the sub-list for method output_type
-	1, // [1:1] is the sub-list for method input_type
-	1, // [1:1] is the sub-list for extension type_name
-	1, // [1:1] is the sub-list for extension extendee
-	0, // [0:1] is the sub-list for field type_name
+	1, // 0: orderbook.Account.commodities:type_name -> orderbook.Commodity
+	0, // 1: orderbook.TradeSet.pair:type_name -> orderbook.Pair
+	4, // 2: orderbook.TradeSet.matched_orders:type_name -> orderbook.MatchedOrder
+	3, // [3:3] is the sub-list for method output_type
+	3, // [3:3] is the sub-list for method input_type
+	3, // [3:3] is the sub-list for extension type_name
+	3, // [3:3] is the sub-list for extension extendee
+	0, // [0:3] is the sub-list for field type_name
 }
 
 func init() { file_wire_proto_init() }
@@ -328,18 +444,6 @@ func file_wire_proto_init() {
 	}
 	if !protoimpl.UnsafeEnabled {
 		file_wire_proto_msgTypes[0].Exporter = func(v interface{}, i int) interface{} {
-			switch v := v.(*Order); i {
-			case 0:
-				return &v.state
-			case 1:
-				return &v.sizeCache
-			case 2:
-				return &v.unknownFields
-			default:
-				return nil
-			}
-		}
-		file_wire_proto_msgTypes[1].Exporter = func(v interface{}, i int) interface{} {
 			switch v := v.(*Pair); i {
 			case 0:
 				return &v.state
@@ -351,7 +455,7 @@ func file_wire_proto_init() {
 				return nil
 			}
 		}
-		file_wire_proto_msgTypes[2].Exporter = func(v interface{}, i int) interface{} {
+		file_wire_proto_msgTypes[1].Exporter = func(v interface{}, i int) interface{} {
 			switch v := v.(*Commodity); i {
 			case 0:
 				return &v.state
@@ -363,7 +467,7 @@ func file_wire_proto_init() {
 				return nil
 			}
 		}
-		file_wire_proto_msgTypes[3].Exporter = func(v interface{}, i int) interface{} {
+		file_wire_proto_msgTypes[2].Exporter = func(v interface{}, i int) interface{} {
 			switch v := v.(*Account); i {
 			case 0:
 				return &v.state
@@ -375,6 +479,30 @@ func file_wire_proto_init() {
 				return nil
 			}
 		}
+		file_wire_proto_msgTypes[3].Exporter = func(v interface{}, i int) interface{} {
+			switch v := v.(*TradeSet); i {
+			case 0:
+				return &v.state
+			case 1:
+				return &v.sizeCache
+			case 2:
+				return &v.unknownFields
+			default:
+				return nil
+			}
+		}
+		file_wire_proto_msgTypes[4].Exporter = func(v interface{}, i int) interface{} {
+			switch v := v.(*MatchedOrder); i {
+			case 0:
+				return &v.state
+			case 1:
+				return &v.sizeCache
+			case 2:
+				return &v.unknownFields
+			default:
+				return nil
+			}
+		}
 	}
 	type x struct{}
 	out := protoimpl.TypeBuilder{
@@ -382,7 +510,7 @@ func file_wire_proto_init() {
 			GoPackagePath: reflect.TypeOf(x{}).PkgPath(),
 			RawDescriptor: file_wire_proto_rawDesc,
 			NumEnums:      0,
-			NumMessages:   4,
+			NumMessages:   5,
 			NumExtensions: 0,
 			NumServices:   0,
 		},
diff --git a/abci/example/orderbook/wire.proto b/abci/example/orderbook/wire.proto
index 82909b054..53948d633 100644
--- a/abci/example/orderbook/wire.proto
+++ b/abci/example/orderbook/wire.proto
@@ -3,15 +3,11 @@ syntax = "proto3";
 package orderbook;
 option go_package = "github.com/tendermint/tendermint/abci/example/orderbook";
 
-message Order {
-    uint64 quantity_outbound = 1;
-    double limit_price = 2;
-	uint64 owner = 3;   
-}
-
 message Pair {
-    string inbound_commodity_denom = 1;
-    string outbound_commodity_denom = 2;
+    // the denomination that the buyer receives i.e. EUR
+    string buyers_denomination = 1;
+    // the denomination that the seller receives i.e. USD
+    string sellers_denomination = 2;
 }
 
 message Commodity {
@@ -22,18 +18,30 @@ message Commodity {
 message Account {
     uint64 index = 1;
 	repeated bytes public_key = 2;
+    // the set of commodities that the account has
     repeated Commodity commodities = 3;
 }
 
+// TradeSet is the transaction that eventually is committed in a block
+// It is derived from a group of MsgBid and MsgAsk's 
 message TradeSet {
-    Pair pair = 1; // ATOM/USDC
+    Pair pair = 1; // i.e. EUR/USD
+    // the set of matched trades for that peer 
     repeated MatchedOrder matched_orders = 2;
-
 }
 
 message MatchedOrder {
-    Order buy_order = 1;
-    repeated bytes buyer_signature = 2;
-    Order sell_order = 3;
-    repeated bytes seller_signature = 4;
+    // the quantity the buyer receives and the seller gives
+    uint64 quantity = 1;
+    // the price the buyer pays for the quantity. The seller receives
+    // price * quantity of the sellers denomination (i.e. USD)
+    double price = 2;
+    uint64 buyer_id = 3; 
+    // the limit the buyer was willing to pay for. This must be more or
+    // equal to the price. We use this to prove with the signature that
+    // the buyer actually wanted to pay that much for the commodity
+    double buyer_limit = 4;
+    repeated bytes buyer_signature = 5;
+    uint64 seller_id = 6;
+    repeated bytes seller_signature = 7;
 }
\ No newline at end of file