Spark launches on-chain order book for Ethereum

Spark has leveraged Fuel Network’s layer-2 chain technology to introduce a fully on-chain order book for Ethereum.

As per a press release, Spark has rolled out its on-chain order book for the Ethereum ecosystem to cater to the needs of professional, institutional, and advanced retail traders amidst a resurgence in decentralized finance.

An order book serves as a digitalized list of buy and sell orders organized by price levels, enabling traders to monitor asset acquisition and offloading prices set by other users.

Spark emphasized that traditional order books supported by automated market makers and centralized exchanges have struggled to meet the requirements of high-frequency and algorithmic trading. The protocol addressed this issue with its Central Limit Order Book (CLOB) system.

By providing complete visibility into order depth and liquidity, users are shielded from risks such as front-running and manipulation, all while benefiting from the security of self-custody. Unlike centralized exchanges, Spark ensures users retain full control over their assets, making it an ideal platform for traders emphasizing security, transparency, and efficiency.

Vitali Dervoed, CEO and co-founder of Spark

You may also be interested in: Ethereum price, whale activity reach 3-month high amid bull run

Backing Spark’s co-founder, Fuel Network CEO Nick Sway expressed that the decentralized protocol aims to establish a new standard for rapid blockchain precision and scalability on Ethereum, the primary on-chain smart contract ecosystem in decentralized finance.

Spark’s CLOB mechanism was launched on Fuel’s L2 network following the chain’s mainnet debut on October 16. Spark emerged as one of the initial decentralized protocols to unveil its product on the new Ethereum layer-2 scaling solution.

For further details, check out: Detroit to accept crypto payments for taxes and city fees