Order books, perps, and the hunt for low-fee, high-liquidity DEXs
Whoa! Order books on-chain are finally getting serious attention from pros. Deep liquidity and low fees are the two things that make them interesting. The reason is simple yet messy: matching engines, off-chain relays, on-chain settlement, MEV protection and latency trade-offs all interact in ways that make pure replication of a centralized order book non-trivial […]