Written by Alex The shift from the "price curve" of an AMM to the "buy and sell" of an order book is more than just a user interface change; it represents a crucial step in the evolution of DEXs from a "retail investor playground" to a "professional trading market." Order books, with their precise price discovery and ultimate capital efficiency, are widely considered the future of DEXs. However, the harsh reality is that nearly all major order book DEXs have hit an invisible "wall" in their technical implementation. In their quest to decentralize the inherently centralized order book, they are forced to make painful trade-offs between performance, cost, and security. To understand the future of DEXs, we must first deeply analyze the technical bottlenecks faced by these mainstream implementation paths. Path 1: The "Performance Pain" of Pure On-Chain Order Books Typical examples: Early Serum (based on Solana) and some native DEXs on Layer 2. Implementation: Execute all logic for the entire order book, including storage, order placement, order cancellation, and matching, entirely within on-chain smart contracts. Technical Bottlenecks: Performance Ceiling: This is the most critical bottleneck. No matter how high the underlying public chain's TPS, it cannot meet the millisecond-level order book operations required by high-frequency trading. Every interaction requires waiting for block confirmation, which is unacceptable in professional trading. High Cost: Every order placement and cancellation incurs a gas fee. For market makers and high-frequency traders who need to frequently adjust quotes, this is astronomical, fundamentally inhibiting the supply of liquidity. MEV Hazard: All orders are publicly exposed as transactions in the mempool, creating a perfect hunting ground for MEV bots and sandwich attacks. Path 2: Security Concerns of Appchain Order Books Examples: dYdX v4, Hyperliquid Implementation: To completely break free from the performance constraints of the public chain, an independent Appchain, purpose-built for trading, is built from scratch. Technical Bottlenecks: Dimensionality Reduction of the Security Model: This is its core compromise. Its security has been downgraded from the "shared security" guaranteed by public chains like Ethereum to the "sovereign security" guaranteed by its own validator network. This limits its upper limit on security, constrained by the market capitalization of its tokens and the degree of decentralization of its validators, creating a "trust ceiling." Ecosystem siloing: This separation from the main ecosystem results in near-zero composability, and the movement of assets is highly dependent on the security of cross-chain bridges. "Hybrid Architecture": A Masterstroke of Deconstruction and Reconstruction When both of the aforementioned paths have reached their respective dead ends, a more elegant and logical third path emerges. This is the "hybrid architecture" exemplified by QuBitDEX. It is not a compromise, but a profound deconstruction and reconstruction of the very act of "trading," based on first principles. It asks a fundamental question: Which links in the entire transaction process must be guaranteed by the blockchain, and which ones should not? The answer is: The "process" pursues efficiency: Order submission, matching, and updates are a high-frequency, ever-changing process. This process strives for extreme efficiency. Therefore, it is embedded in a powerful off-chain matching engine. This fundamentally addresses the performance and cost constraints. The "result" pursues security: The final settlement of transactions and the delivery of assets are low-frequency, yet absolutely secure and tamper-proof. This result strives for ultimate security and finality. Therefore, it is anchored to the most secure on-chain settlement layer through technologies like ZK-Rollup. This fundamentally addresses security concerns. The essence of a "hybrid architecture" is a perfect "specialization." It returns blockchain to what it does best—a decentralized, trustless "final settlement layer" and "forensic tribunal," rather than a clumsy "all-purpose server" attempting to handle everything. This is no longer just another technological iteration. It is a leap forward in thinking. This demonstrates that the future of DEX lies not in using more powerful chains to "hard-wire" order book performance requirements, but rather in using smarter architectures to "decompose" order book requirements. This may be the ultimate answer to the order book DEX we foresee.

According to TechFlow, on July 27, Bitget Onchain launched Solana and BNB Smart Chain's MEME tokens URANUS and PHY. Users can start trading in the onchain trading section. Bitget Onchain aims to seamlessly connect CEX and DEX, providing users with a more convenient, efficient and secure onchain trading experience. Users can directly use Bitget spot accounts (USDT/USDC) to trade popular assets on the chain. Currently, popular public chains such as Solana (SOL), BNB Smart Chain (BSC) and Base are supported.

When your little cousin returns to your phone and tells you that the Binance game is fun #meme #binance #wtf

The Federal Reserve kept interest rates unchanged, but Powell admitted for the first time that the impact of "tariffs" on inflation, and BTC broke through the $85,000 mark.The U.S. Securities and Exchange Commission announced that it would give up its appeal to Ripple's Ripple (XRP) belonging to securities, and the crypto market ushered in a major milestone, stimulating XRP prices to soar by more than 10%.As the BNB ecosystem experiences a big rise, the BNB meme coins are gaining appeal.Pancakeswap has been leading the global DEX volume for the past seven days, surpassing Raydium and Uniswap. Among the top competitors of the tide are Mubarak, Paru and Fermit, and everyone has attracted great attention in this rapidly developing space.Mubarak leads with explosive early growth, while Palu becomes a potential flagship meme coin.Meanwhile, Fairmint positioned itself as a unique launch pad, aiming to be the Pumpfun version of BNB. Mubarak Over the past few days, Mubarak has quickly become one of the most watched meme coins in the BNB ecosystem.Yesterday, its market value briefly approached the $200 million mark and then returned to today's $112 million. The project poured into the scene with great traction, driven by growing hype and speculative interest in BNB-based assets. Mubarak Market Information.Source: dexscreener In just a short period of time, Mubarak has gained more than 20,000 holders, recorded a daily amount of $66 million and witnessed nearly 35,000 transactions per day.But despite this initial momentum, the token is now undergoing a sharp correction, down 25% in the past 24 hours. Even so, as the BNB ecosystem continues to attract new capital and wider market attention, it is still possible for Mubarak to rebound, and if interest returns are purchased, it may retest its previous highs. Palu of Binance (Palu) As BNB Meme coins continue to dominate the spotlight, several projects are competing to become the face of the ecosystem, just like Shiba Inu's Bonk for Ethereum and Solana. One of the competitors is Palu, a relatively new token that was launched less than six days ago.Paru has attracted nearly 5,000 holders and reached a market cap of $864,000, a slight decline from the recent nearly $900,000. The project positiones itself as a role that has the potential to fill the flagship meme coins in the BNB chain. Paru Market Information.Source: dexscreener Despite 75% corrective measures in the past 24 hours, this is not uncommon among meme coins on various blockchains, but Paru is still maintaining steady activity with nearly $4 million in daily transactions. If emotional stability and momentum in the BNB meme coin field resumes, the project could try to climb to a critical psychological milestone with a market cap target of about $1 million, and may even fall $2 million in the near term. Fairmint Fair (Fair) Fairmint is the newly launched BNB Meme Coins Launchpad, which has been live for less than three days. Fairmint attempts to distinguish it from other platforms such as Pumpfun, introducing unique mechanisms. For example, it enables all users to styling tokens at the same price, while also providing 95% of the mint price at the mint price through one-sided liquidity. Fair market information.Source: dexscreener Currently, Fairmint has collected nearly 3,500 holders with a daily trading volume of $11.7 million and has a record of 24,000 transactions per day. Although Pumpfun has become Solana's leading launch pad, the BNB chain still lacks the dominant player in this niche. Fairmint could push $5 million to $5 million in the coming days if Fairmint can maintain its strong early momentum and community engagement Finally, don’t forget to pay attention. We will be free in this bull market, okay! #Which altcoin ETF do you think will pass?#BNBChainMeme Hot

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Ordinals热潮消失？DRC-20、LTC-20创新高