<aside> 💡 Blockchain at NASDAQ speed.
</aside>
Used to be our old term, but maybe we need a new one.
<aside> 💡 DeFi at the speed of light.
</aside>
wdyt?
Anyways, not important. Let’s talk about various DeFi projects that are on Solana, which will not be possible anywhere else.
There are two types of DeFi Apps that can only built on Solana.
Well-optimized DeFi apps that still require high throughput. The others are badly optimized ones that could be optimized for other chains and do not unlock any interesting use cases purely from being on Solana.
Forked from Serum, Openbook/Serum was the first example of a fully onchain orderbook. Openbook requires many transactions per second per market, and can only effectively scale up on Solana.
Openbook has to allow users to place multiple orders a second, while also matching and consuming Events, and allowing for settlement per market.
Other orderbooks have used a combination of an offchain orderbook and placing settled trades onchain to get around blockchain limitations. An example is Orderly Network from Near.
In addition to Openbook, there exists many similar forks (but for perps, or options) or openbook UIs with margin (Mango) that cannot exist without Openbook itself.