Lots of truths below. Let’s be honest, even Fogo’s 40ms block times are an eternity compared to Nasdaq matching (although 400ms is a killer).
But there are smarter L1/DEX designs that cut the gap and also protect LPs to get CEX-like spreads/depth/execution.
Stay tuned for more on that.
> NASDAQ handles 2k trades per second
NASDAQ handles 2m+ messages per 100ms with microsecond latency. Solana isn't even close and never will be with the speed of light adding at least 100ms of latency from global consensus.
Most messages/trades occur in microsecond bursts and NASDAQ is built to handle a 51:1 capacity-to-peak ratio with microsecond latency. Solana has a fixed compute capacity.
Quotes exceed trades (fills) by orders of magnitude. The reason market making on-chain is so expensive is that market makers pay gas to revise/cancel quotes but only earn money from fills. And when Solana is congested due to bursts of activity, market makers are subject to additional latency and gas costs at the same time volatility spikes.
This means trades per second is an irrelevant metric, but if we're being fair: NASDAQ trades per second average out to around 2k over a day.
@moon_shiesty @PythNetwork A better model is an LP vault and automated LP auction around an optimized oracle price every block or so.
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