Jump Crypto proposes a DFBA mechanism that aims to address the challenges faced by traditional CLOBs on the blockchain.
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最新报道：According to Bijie.com, on August 22, the research team of market maker Jump Crypto published a paper proposing a new trading mechanism, Dual Flow Batch Auction (DFBA), designed to address the challenges faced by traditional continuous limit order books (CLOBs) on blockchains. According to Bijie.com, CLOBs rely on continuous matching and time-priority mechanisms, which can lead to latency arbitrage, MEV (miner extractable value) issues, and unfavorable trading liquidity, thereby increasing market transaction costs. DFBA conducts two independent auctions every 100 milliseconds, dividing orders into two groups: Makers and Takers, and completing trades at a single fair clearing price. This mechanism eliminates arrival time priority, avoids competition among liquidity providers, and shifts the focus of competition from speed to price and scale. Compared to traditional designs, DFBA provides tighter quotes and deeper liquidity, while protecting natural traders from latency arbitrage and MEV reordering. Jumpcrypto believes that this design inherits the advantages of previous trading models, such as continuous liquidity and auction fairness, while avoiding disadvantages such as high slippage and liquidity fragmentation, providing market participants with a fairer and more efficient trading environment.
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