Spark launches on-chain order book for Ethereum

Spark leveraged layer 2 on-chain Fuel Network technology to deliver a fully on-chain order book for Ethereum.

According to a press release, Spark has launched its on-chain order book for the Ethereum (ETH) ecosystem to provide rapid execution for professional, institutional and advanced retail investors amid the resurgence of decentralized finance.

The order book is a digitized list of buy and sell orders organized by price levels. This tool allows investors to observe the prices at which other users plan to purchase or dispose of assets.

Spark noted that current order books, backed by automated market makers and centralized exchanges, are struggling to meet the demands of high-frequency and algorithmic trading. The protocol stated that it solved this problem with the Central Limit Order Book or CLOB system.

With full visibility into order depth and liquidity, users are protected from risks such as front-running and manipulation while enjoying the security of self-custody. Unlike centralized exchanges, Spark allows users to maintain full control over their assets, making it an ideal platform for investors who prioritize security, transparency and efficiency.

Vitali Dervoed, CEO and co-founder of Spark

The decentralized protocol aims to set a new standard for fast-paced blockchain precision and scalability on Ethereum, the largest on-chain smart contract ecosystem in decentralized finance, said Spark co-founder Fuel Network CEO Nick Sway.

Spark’s CLOB mechanism went live on Fuel’s L2 network following the chain’s mainnet launch on October 16. Spark was one of the first decentralized protocols to deploy its product on the new Ethereum layer-2 scaling solution.