Buckle up your seatbelts and get ready to board the next rocket ship! We’re super thrilled to announce the TOSHI MANIA event in association with @Toshi_base!

Simply trade $TOSHI on the Tegro order book DEX to collect points and climb the leaderboard to unlock exciting #TOSHI rewards!

Enter now👉👉 https://bit.ly/tegro-toshi-mania-s1

There’s 2,000,000 $TOSHI at stake! At the time of writing this article, the prize pool is worth over $750. Don’t miss this event for anything!

What’s more, the TOP 20 positions will get rewarded!

P.S. The reward pool is jointly sponsored by Tegro and our friends over at TOSHI! ♥

• Start date: Friday, 31 May 2024 at 6 PM UTC

• End date: Friday, 7 June 2024 at 5 PM UTC

Participating in the TOSHI MANIA event is super easy! Just follow these easy steps 👇

1) Trade the TOSHI / USDC market on Tegro

2) Collect Points on each trade ($1 traded = 1 point collected)

3) Climb the leaderboard

4) PROFIT

So what you’re waiting for?

Enter the TOSHI MANIA now👉👉 https://bit.ly/tegro-toshi-mania-s1

Overview

🚀 The Tegro Gen2 order book DEX for high-frequency trading has just landed on the

#Base

Mainnet! To kick off our explosive launch on Base, we are super excited to roll out the exclusive Tegro Points Program.

🌟 Rack up points with every action, every order, and every referral on the Tegro DEX. It’s your gateway to unbelievable rewards!

🔥 Points holders will be able to swap points for [REDACTED] and snag early access to killer benefits on the platform.

Get started now! Visit 👉 https://bit.ly/fc-tegro-points-program

🏆 Be a pioneer! On Tegro reap points for every move they make. Dive into the action and see your points pile up.

Collect points in three exciting ways — Trading, Referrals, and Side Quests.

Stay on top of your game with our dashboard and watch your points soar.

👑 Don’t miss out on the leaderboard action! Top earners get a secret, game-changing surprise. Are you ready to dominate?

• The trading floor is hot! Placing trades on Tegro is your prime strategy to stack points high. You can create orders for as low as $2 USDC on Tegro!

• Earn points every single minute your order stays active in any market.

• Closer to the mid-price? More points! For instance, in the WETH USDC market where the mid-price is $3,000, if Bob’s order is for $2,995 and Alice’s order is $2,990, then Bob scores higher. Be like Bob.

• Go big with your order sizes for even more points. The larger the order, the fatter the points!

• ⚠ ATTENTION: Your point collection HALTS the moment your order closes. Keep those points flowing — make sure to update or open new orders and never stop collecting!

  

  Referral

  • Spread the word and score big! Invite friends to Tegro and earn a whopping 25% of the points they collect from trading.

  • Easy share from your dashboard means your unique link goes wherever your friends are.

  • Example: Alice refers Bob; Bob earns 1,000 points on Tegro. Boom—Alice just scored 250 points without lifting a finger!

  Side Quests

  • Crave more points? Jump into our Side Quests! Engage in thrilling mini-campaigns on platforms like Galxe, TaskOn, QuestN, and more.

  • Each completed quest unlocks a bounty of points. The more you unlock, the more you collect!

  • What’s more? You can earn additional $$$ rewards such as USDC and other tokens on completing some side quests.

  Future Rewards

  🌌 Point holders, ready to trade up? Later, you can swap your points for [REDACTED] and get exclusive, first-dibs on next-level platform perks.

  💥 What are you waiting for? The race is on! Get in, collect points, get ahead. Start stacking on Tegro today and may the best trader win. Let’s go, degens!

  Get started now! Visit 👉 https://bit.ly/fc-tegro-points-program
  

This shift to DEXs not only enhances user autonomy but also drives innovation in trading models, with the central limit orderbook (CLOB) and the automated market maker (AMM) emerging as the two predominant frameworks in the DeFi landscape. This article will explore these frameworks, providing a detailed comparison and discussing how they redefine the trading experience.

A central limit orderbook (CLOB) DEX borrows a trading structure familiar in TradFi and CeFi markets. In this structure, a CLOB collects and matches buy and sells orders in a single ledger. Thus, a CLOB is made of layers of buy and sell orders submitted by traders. These orders represent the prices at which traders are ready to buy or sell assets, creating a detailed map of market demand and supply at different price points.

• Transparency: The CLOB provides complete visibility of all order depths, which includes buy and sell orders at various prices. This transparency helps traders make informed decisions based on market demand and supply.

• Price discovery: The market price in a CLOB is determined by the lowest available sell order (ask) and the highest buy order (bid). This mechanism ensures efficient price discovery as it reflects the most immediate willingness of the market participants to trade.

• Capital efficiency: CLOBs facilitate single-sided liquidity, which reduces the burden on market makers to deploy extensive asset collaterals.

• Zero slippage: CLOBs prevent price discrepancies by enabling traders to place limit orders that specify the exact price they wish to buy or sell.

• No MEV bot interference: Using transaction sequencing, CLOBs ensure that orders are executed in the exact order they are received, preventing bots from manipulating order execution for profit and safeguarding traders from potential front-running, sandwich and other exploitative strategies.

Automated Market Makers (AMMs) represent an “over-the-counter” approach to asset exchange in DeFi. AMMs do not match buyers and sellers, instead liquidity for both sides of a trading pair are collected into a common pool. The market price is determined by an algorithmic formula that calculates the relative availability of assets within the liquidity pool and adjusts the price accordingly.

• No counterparty required: By leveraging liquidity pools, AMMs ensure that liquidity is always available without the requirement of a trading counterparty’s presence.

• Yield opportunities: By depositing assets into liquidity pools, participants can earn fees from the trades that occur within the pool, proportional to their contribution.

As the DeFi landscape is evolving, the choice of trading mechanism can significantly impact both the user experience and the market effectiveness. Right now, Central Limit Order Books (CLOBs) and Automated Market Makers (AMMs) stand out as prominent frameworks. This section delves into a detailed comparison of these two models, highlighting key features and differences to explore which system might be more advantageous for DeFi participants.

In the DeFi ecosystem, AMMs and CLOBs play distinct yet complementary roles that collectively enhance market efficiency and accessibility. AMMs are particularly beneficial for trading pairs with higher spreads and lower frequency, offering essential liquidity that ensures traders can always find a counterparty — a feature that is invaluable for those dealing in less popular tokens. As depicted in the accompanying infographic, AMMs cater to retail traders with wider spreads, accommodating large size orders that may not be as frequent but are crucial for market access. However, these wider spreads indicate poorer price discovery and less efficient market making, which can limit the use of complex trading strategies.

On the other hand, CLOBs cater to a different segment of the market — primarily, the high-frequency traders who seek competitive platforms for executing orders. Operating close to the mid-price, CLOBs offer tighter spreads and lower costs, which are key for strategies that require high speed and precision. This environment is conducive to deploying bots and trading strategies that operate within these thin margins. Although this space constitutes just a fraction of the market, it contributes to a significant portion of market volumes, reflecting the high level of activity by these traders.

Together, AMMs and CLOBs provide a robust, efficient, and diverse trading environment that caters to a broad spectrum of trading activities and preferences — from casual investors who benefit from the simplicity and liquidity of AMMs to professional traders who utilize the advanced functionalities and efficient price discovery of CLOBs. This symbiosis ensures that both market frameworks thrive, each playing a pivotal role in the DeFi landscape.