Phoenix · interactive mechanism simulation

A fully on-chain limit order book. Market makers post resting orders; taker trades match by price-time priority and settle atomically in the same transaction — no crank bot, no custody handoff.
Market makers quoting both sides Takers market/limit orders On-chain order book price-time priority ask 101.4 x 12 ask 101.2 x 8 ask 101.0 x 20 bid 100.8 x 18 bid 100.6 x 9 bid 100.4 x 14 no crank — atomic match+settle Atomic settlement same tx as order Trader wallets self-custody, no vault
Orders filled
0
Cumulative volume
0 USD-eq
Book depth (both sides)
0
Settlement latency
1 tx (atomic)
Parameters — edit me
8 bps
30 units
1.2/s
1.6/s
Controls

Illustrative simulation. Models Phoenix's crankless, atomic-settlement CLOB: makers post resting orders, takers match by price-time priority, and fills settle in the same transaction — contrasted against the crank-bot latency of earlier Solana order books like Serum. Order sizes and timing are randomized for visualization — not live onchain data. Part of The Onchain Experiment Atlas.