April 19, 2022, 10:03AM EDT
• 6 min read
- Some of the earliest DeFi applications were orderbook-based DEXs (e.g. EtherDelta).
- The constraints of public blockchains limit the extent to which orderbook functions can be fully decentralized.
- The high degree of scalability offered by ZK-rollups may facilitate a revival of fully on-chain orderbook DEXs.
- dYdX and ZigZag are well positioned to lead the way in the space.