According to Wu, Anza and Solana Labs discuss Solana's path to a decentralized Nasdaq. Solana aims to build an efficient decentralized trading network, but the existing design has not met expectations. Currently, Solana market makers have a low winning rate in the order cancellation competition, far lower than the 13% of centralized exchanges. Jito auctions intensify the control of state access by a single leader, leading to wider spreads. To this end, Solana proposes to reconstruct from the consensus mechanism, introduce multiple leaders to optimize order sorting, reduce the adverse selection cost of market makers, and improve price efficiency.