In this episode, Austin chats with Tristan (Bullet) to discuss the significant evolution of decentralized finance (DeFi), particularly focusing on the re-emergence of Central Limit Order Books (CLOBs) and the innovative development of Bullet on Solana. Tristan dives into the history of order books, their challenges in the DeFi space, and the technological advancements that are now overcoming these obstacles. They explore the unique position Bullet occupies in the Solana ecosystem, advancements in smart contract programming, the importance of co-location for trading efficiency, and the promise of ZK proofs for verifiable off-chain compute. Additionally, they cover how Bullet seeks to provide superior user experience without compromising on performance, aiming to compete with centralized exchanges while leveraging the transparency and security of blockchain technology
00:00 - The Return of CLOBs to DeFI
01:43 - Challenges of On-Chain Order Books
03:42 - Innovations in DeFi and Solana's Role
08:30 - How Zeta Became Bullet
11:39 - Decentralization vs. Performance
15:04 - Exploring Different Models for Order Books
23:24 - Challenges in Centralized and Decentralized Trading
24:15 - Solana's Trading Model and Its Impact
25:52 - Pitching to Professional Traders
26:37 - Technical Aspects and Integration
28:25 - Market Dynamics and Maker Strategies
31:39 - Performance Metrics and Optimization
36:48 - Data Access and Fairness in Trading
40:34 - Upcoming Developments and Testnet
42:30 - Conclusion
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