Crypto
Home›Crypto›Market Structure›Joseph DeLong plans limit-order-book DEX on Robinhood…
Joseph DeLong plans limit-order-book DEX on Robinhood Chain next week
The proposed design stores each limit order entirely in smart contract storage, using 4.3 billion logarithmically spaced price ticks to keep per-trade execution bounded.
Joseph DeLong, the former SushiSwap CTO who now leads stablecoin card startup Colossus, said he will launch a decentralized exchange called Deepstate on Robinhood Chain next week, according to The Defiant. He shared that the project moved beyond a side effort, linking to a whitepaper published on GitHub dated June 29.
The whitepaper describes a fully onchain limit order book that lives in smart contract storage. It packages each resting order into a single 32-byte word, including a price tick, quantity, a rounding-correction code, and a time-priority nonce, then stores orders in a binary radix tree keyed by price and arrival order.
The design targets bounded workload for each trade by limiting the tree processing depth to 64-bit, with the goal of helping cap gas costs even as the number of resting orders grows. The paper notes that fully onchain central limit order books remain rare on EVM chains because storage reads and writes are costly.
The article also says Deepstate would add to a growing roster on Robinhood Chain, which launched its Arbitrum-based public mainnet on July 1 with multiple DeFi partners and saw rapid user growth after launch. The Defiant reports that DeLong did not provide further details such as specific trading pairs, fees, or whether a token will be involved.