The Spot CLOB on @Solana Trade everything for nothing
The Pit
Joined August 2024
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Manifest retweeted
TOP 10 DEXs ON SOLANA BY 24H VOLUME 🔥
@ManifestTrade leads the pack with $290.69M, followed by @orca_so at $214.34M.
Top 10 DEXs by trading volume:
@ManifestTrade - $290.69M
@orca_so - $214.34M
#BisonFi - $184.76M
@Pumpfun - $167.04M
@Raydium - $145.43M
@MeteoraAG - $121.93M
#Tessera V - $107.22M
#GoonFi - $51.92M
#Scorch - $50.80M
@deriverse_io - $44.21M
Which DEX will dominate Solana next? 👀
#Solana #DeFi #DEX
We may not have 1000x leverage but the trenches are coming to the order book whether you like it or not
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It was Manifest
BREAKING: The number of weekly spot DEX trades on Solana has officially surpassed the NYSE for the first time in history.
This metric includes the number of individual onchain token swaps executed on decentralized exchanges built on Solana.
In the week ending September 13th, Solana saw ~208 million spot DEX trades, compared to ~190 million on the NYSE.
Meanwhile, the gap between the Nasdaq and Solana narrowed to ~47 million trades, the smallest gap on record.
The growth has been largely catalyzed by Jupiter, the largest trading platform on Solana, which has processed over 80 million trades this month, up +38% month-over-month.
To put this into perspective, Solana has now seen +185% growth in weekly spot DEX trade volumes compared to the lows seen in July.
Crypto markets are on fire.
Manifest retweeted
RugCheck now supports @ManifestTrade.
Manifest order-book liquidity is now recognised and included in token reports alongside other supported markets.
For projects building liquidity on Manifest, that activity is now represented. For traders, order-book and pool liquidity can be viewed together in one report.
700+ markets for stocks on Manifest and growing
Stocks are just better when they trade on fully onchain orderbooks
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Manifest opposes SGP-0003.
@solana is not constrained by blockspace. The resource that is actually scarce — priority ordering within a block — already has a fee that prices it; this proposal charges significantly more for the abundant space sitting behind it that nobody was competing for.
Even with further CU optimizations on Manifest, the cost to quote on Solana's CLOB will increase under this proposal. Manifest isn't just purely wasting CU. Manifest uses an abundant resource without scarcity to do safety checks.
Programs holding user funds should not optimize for code that is harder to write and audit to conserve an abundant resource just so prop AMMs can reduce their gas bill and taker swaps pay much more.
Experimentation is normally good but a possible outcome is this proposal produces more security incidents on Solana, not fewer.
Post more data about 553/spg-3 the resource fee inclusion simd.
My two cents. A perfect scheduler with infinite bandwidth and 0 pipeline latency would work with 0 inclusion fee, and if there is no tax leakage priority fee revenue is the same as fee burn. But nothing is perfect.
IMHO, it’s worth experimenting but i dont want to break any existing apps. So it’s probably a good idea to experiment within the same budget as the current signature fee on average, while figuring out how to have the inclusion fee burn target the “good” txs and not the bad ones.
PRAW :)
Built for composable DeFi 👊
🎬 watch @buffalu__ explain current limit order landscape on @solana and how @jtx_trade solved the problem;
"it was a decent technical challenge, we had to write a custom integration on top of @ManifestTrade to do what we wanted and so these are like truly resting limit orders"
