📝 Enclave: Let's Achieve Both CLOB and Privacy.

Today, as a good opportunity, I would like to discuss the new order book form of PERP-DEX that CZ brought up last time and privacy, and how @enclave is well-structured around these elements.

1️⃣ What is CLOB?

CLOB is a traditional financial order book method, recently contrasted with AMM, and has garnered attention as a high-performance and high-efficiency trading infrastructure introduced in DeFi. It shows far superior capital efficiency and execution precision, and is a method that many PerpDEXs are adopting to advance trading levels.

It aims to elevate the trading experience to a structurally equivalent level as CEX and stock exchanges, and through the specificity of MEV, it can eliminate the experience where traders cannot conduct fair trades.

*MEV is too long to explain here, so please think of it as a concept like front-running, and see it as a factor that disrupts the order of trades and prevents fair trading.

2️⃣ Privacy Issues in Trading.

One characteristic of the transparency of trades that arises when CLOB and on-chain meet can be a double-edged sword, as pointed out by CZ. Whale and large-scale institutional traders would likely not want to expose their positions transparently, and for Tradfi to be conducted on-chain, technologies like dark pools that can protect their privacy must be introduced to Perp Dex.

There has been a lot of debate regarding this issue, but personally, I acknowledge that privacy in trading is necessary for the influx of institutional capital for a larger market.

Looking at the recent situation where Bitcoin's volatility was affected by the position of hyper-liquid whale James Wynn, and reflecting on the GameStop incident where prices artificially skyrocketed to expose institutional positions, it's clear that institutions wouldn't welcome their positions being exposed.

3️⃣ Enclave Has Captured Both CLOB and Privacy.

EnclaveX is not only a platform equipped with high-speed CLOB but also implements a technology stack that protects traders' privacy through encrypted order processing using TEE.

This signifies that it can accept not only general on-chain users but also institutional-grade funds, allowing it to gain an advantage in the target market size compared to other CLOB-based exchanges.

4️⃣ In Conclusion

Currently, many Perp Dexs are emerging and competing with their respective technologies. Through this process, I hope that a better platform environment is provided to users, and that potential customers who have not been able to enter until now flow into the market, thereby increasing the scale of on-chain user pools.

I hope that the CLOB-based trading stack of Enclave, which guarantees privacy, will also secure speed, consistency, fairness, and reliability, contributing to the creation of a better on-chain trading environment!