Key Points
Spark has adopted layer-2 chain Fuel Network technology to roll out a completely on-chain order book for Ethereum.
This was announced in a press release.
Spark’s on-chain order book for the Ethereum ecosystem is designed to offer rapid execution for professional, institutional, and advanced retail traders.
This comes at a time when decentralized finance is experiencing a resurgence.
An order book is a digital list of buy and sell orders organized by price levels.
This tool enables traders to see the prices at which other users intend to buy or sell assets.
Spark pointed out that existing order books, powered by automated market makers and centralized exchanges, have had difficulty meeting the needs of high-frequency and algorithmic trading.
To address this, Spark introduced its Central Limit Order Book (CLOB) system.
Benefits of Spark’s CLOB System
The CLOB system allows users to have full visibility into order depth and liquidity.
This protects them from risks such as front-running and manipulation.
At the same time, they can enjoy the security of self-custody.
Unlike centralized exchanges, Spark gives users full control over their assets.
This makes it a suitable platform for traders who prioritize security, transparency, and efficiency.
Vitali Dervoed, CEO and co-founder of Spark, is one of the key people behind this initiative.
Supporting him, Fuel Network CEO Nick Sway stated that the decentralized protocol aims to establish a new standard for rapid blockchain precision and scalability on Ethereum.
Ethereum is the largest on-chain smart contract ecosystem in decentralized finance.
Spark’s CLOB mechanism was launched on Fuel’s L2 network after the chain’s mainnet launch on Oct. 16.
Spark was among the first decentralized protocols to launch its product on the new Ethereum layer-2 scaling solution.