- Spark introduces a decentralized on-chain order book built on Fuel’s layer-2 technology.
- The order book enables speedier trading, complete visibility, and self-custody security.
Spark developed a fully on-chain Ethereum order book that makes use of the Fuel Network’s layer-2 technology to improve speed and efficiency for professional traders. The new technology addresses the rising demand for decentralized finance (DeFi) by providing fast execution for institutional and advanced retail traders. Its fully decentralized order book offers a timely solution as DeFi gains renewed popularity. This innovation overcomes the limitations of traditional order books found on centralized exchanges.
An order book is an electronic listing of buying and selling orders organized by price level. This tool provides traders with a clear view of market conditions. It helps them identify the prices at which others are willing to buy or sell assets. Spark’s Central Limit Order Book (CLOB) technology enhances market insights for participants. It offers faster trade execution, essential for thriving in competitive trading environments. The added transparency also supports high-frequency and algorithmic trading strategies.
Spark’s Order Book Enables Decentralization and Security
Spark’s CEO and co-founder, Vitali Dervoed, highlighted that order books are critical for experienced traders who want accurate execution and transparency. Spark’s wholly on-chain solution avoids the trade-offs that come across in off-chain platforms, giving users complete control over their assets and protection against threats like front-running and manipulation. Unlike centralized exchanges, Spark ensures that consumers keep control of their assets while stressing security and transparency.
Fuel Network’s revolutionary architecture powers Spark’s on-chain order book, which provides scalability, speed, and compatibility for DeFi. Fuel experienced remarkable growth after its October launch, seeing a 700% increase in TVL in just one day. Over the course of the week, TVL surged by an impressive 1200%. Spark’s launch is a significant milestone for Fuel, paving the way for a new era of decentralized trade.
Spark’s Central Limit Order Book mechanism became active on Fuel’s layer-2 network after the network’s mainnet launch on October 16. Spark becomes one of the first decentralized protocols to deploy its product on the new Ethereum layer-2 scaling solution, solidifying its position as a prominent participant in the DeFi field.
With Fuel’s advances, Spark is set to provide a low-cost, safe, and transparent solution for decentralized trading, paving the way for institutional-grade DeFi.
