CLOB model

In the past, the algorithms of matching engines in centralized exchanges (CEX) based on the CLOB model typically focused on the exchange of homogeneous tokens (FT) and consumed a significant amount of resources, making it difficult to deploy and run on the Ethereum blockchain. Some DEXs have attempted to address this issue by implementing matching engines and order books offchain. However, such solutions not only increase centralized risks (to some extent), but also limit their ability to interact with other protocols, making it difficult for them to effectively utilize or contribute to the open ecosystem of Ethereum. The greatest value of a CLOB lies in its user-friendly market making experience based on a black box of non-perfect information games.