Hanji deployed on @monad in stealth weeks ago and is now top 2 in weekly volume. Hanji's orderbook has: - fully onchain execution & settlement - zero maker fees & near-zero taker fees - a vault-based liquidity model for fees and spread capture You can try it now 👇

After $2.45B+ in volume, Hanji is past the question of whether order books can work onchain. Join @dmitrytez, Founder of @hanjiprotocol to talk: 🔹 $641M vol in 30D 🔸 Fully on-chain order books 🔹 CEX-style execution on @Base, @Monad, and @etherlink 👇 nitter.net/i/spaces/1qKDzWjOZBwJV…

two milestones today >$50m daily volume >$2b cumulative volume

Top 5 DEXs on Base by 7D volume 1. @aeroxyz > $2.547B 2. @Uniswap > $2.493B 3. @PancakeSwap > $542.88M 4. @0xtristero > $127.86M 5. @HanjiProtocol > $62.07M Aerodrome and Uniswap are still the main liquidity venues on Base

most DEXs ask you to trust a curve. Hanji asks you to read the book fully onchain spot CLOB. real bids, real asks, deterministic fills, self-custody intact. the same orderbook a CEX runs, minus the custody risk and the trust AMMs priced DeFi for the last cycle. Orderbooks price it for the next one

everyone said a full orderbook + matching engine could not live on-chain hanji put both there: preconfirmations on etherlink, parallel execution on monad, ~15-20ms ux feel tight spreads. visible depth. feterministic fills.

The orderbook was always the endgame.

most DEXs make you trade against a formula while hanji makes you trade against a real market full onchain orderbook: live bids, live asks, real price discovery tight spreads, visible depth, deterministic fills CEX execution, full self-custody on-chain markets should behave like real markets

AMMs approximate price. Orderbooks discover it. There's a difference.

appchain = sovereign execution, permanent liquidity problem every isolated chain starts at zero same LPs, same capital, split across a hundred walled gardens spreads stay wide. arb bots eat the rest. general-purpose chains don't have that problem liquidity compounds LP positions become collateral orderbook depth feeds aggregators feeds more flow appchains optimized for sovereignty they gave up depth to get there this is not a UX complaint it's structural: fragmented settlement = fragmented price discovery = permanently worse execution hanji deploys on Monad, Base, Etherlink a CLOB on a chain with aggregated flow is a different product than a CLOB in a silo orderbooks win long-term but only if the chain underneath lets depth compound

🧵 most defi protocols borrow a price from chainlink to run their liquidations the book IS the price here's why that changes everything