Bringing CEX-grade order-book trading on-chain — without the custody.
An on-chain order book records and matches limit orders on a blockchain, so trading is transparent and non-custodial while feeling like a CEX. Some venues keep the whole book on-chain (Hyperliquid, Injective, Phoenix); others match off-chain and settle on-chain (dYdX, Vertex). Builders can even rent a shared book from Orderly.
Shared order-book infrastructure you can build a DEX on.
On-chain order books bring CEX-grade trading to DeFi — fully on-chain for transparency, off-chain matching for speed.