Going Beyond Swaps: Orderbook DEX and Price Execution
summary
dYdX reports $1 trillion trading volume and is migrating its exchange to Cosmos with a v4 testnet that accepts MetaMask and focuses on derivatives execution; Orderly Network ships an orderbook infrastructure on NEAR and designs multichain routing where assets remain native per chain via cross‑chain messaging rather than bridges. Both projects highlight decentralized matching engines and liquidity hooks for market makers, list UX and wallet onboarding as the main bottlenecks, and signal practical steps toward compliance and centralized exchange integrations.
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chapters (12)
- 0:00Introduction
- 1:56dYdX’s auto DEX proposition
- 3:23Orderly Network’s liquidity layer
- 5:55Swap vs orderbook DEX
- 8:04Liquidity growth strategies
- 10:10Market share battle
- 12:36CEX as DEX gateways
- 16:05DeFi exchange UX
- 19:59dYdX’s Cosmos migration
- 22:26Multi-chain DEX challenges
- 25:23DeFi regulatory compliance
- 28:54Next steps for dYdX & Orderly
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