Joseph DeLong, the previous CTO of SushiSwap who now runs stablecoin card startup Colossus, stated he’ll launch a decentralized change referred to as Deepstate on Robinhood Chain subsequent week.
“I’ve a facet venture for a decentralized change that goes past nights and weekends. I'm launching it subsequent week on the @robinhood chain,” DeLong wrote on X on July 24, linking to a whitepaper revealed on GitHub.
Full on-chain order ebook
A June 29 white paper authored by DeLong specifies a restrict order ebook that resides fully inside good contract storage. Every remaining order is packed right into a single 32-byte phrase: worth tick, amount, rounding correction code, and time-first nonce, and saved in a binary radix tree keyed by worth and arriving orders. This design offers 4.3 billion logarithmically spaced worth ticks, limits the work every commerce performs at a set 64-bit depth within the tree, and is an try to restrict gasoline prices whatever the variety of orders on the ebook.
Totally on-chain central restrict order books are nonetheless uncommon on EVM chains, as all storage reads and writes have a gasoline price. Whereas most order ebook exchanges match trades off-chain and settle them on-chain, automated market makers keep away from matching altogether. DeLong's paper attributes the core construction to Warp, an identical engine design introduced at EthCC in 2023 by Plasma co-authors Joseph Poon and Christopher Jeffrey.
DeLong, who served as SushiSwap's CTO till he resigned in December 2021, later argued in a autopsy of Sushi-era ETHDenver that DAOs want a hierarchy. He went on to discovered NFT lending protocol Astaria and held a senior director function at Kraken. He at present serves as CEO of Colossus. Colossus is a startup constructing a stablecoin bank card community designed to bypass Visa and Mastercard.
Robinhood Chain DEX Race
The deep state will even be a part of the crowded area. Robinhood launched the Arbitrum-based chain's public mainnet on July 1st, went stay from day one with Uniswap, 1inch, Arcus, and everlasting associate Lighter, and the community has grown quickly. On July twenty first, it overtook Base in every day lively customers, registering 323,969 addresses in comparison with 274,520 for Base in its first three weeks. Reiter has since made Robinhood inventory tokens eligible as collateral for the corporate's PERP market.
DeLong didn’t reveal a launch date past “subsequent week,” nor did he disclose buying and selling pairs, charges, or the identify of the token.
