The blockchain native market maker CKS Systems unveiled Manifest, an on-chain orderbook built on Solana.
Manifest's primary contributors have been Maximilian Schneider, Britt Cyr and John Kramer. Respectively, they are the founder of the DEX Mango Markets, CTO of the web3 options platform Dual Finance and Head of Trading at CKS Systems. The three collaborate to bolster liquidity on Solana and associated platforms such as Manifest, Kramer told The Block via email.
Manifest lets liquidity providers place unlimited orders across markets by deploying Global Orders, which enables multiple simultaneous bids and offers using the same funds, according to a release shared with The Block. The platform also eschews trading fees and permits order book proliferation by letting users easily list new token markets.
Manifest also introduces a data structure called HyperTree, which, according to its whitepaper, permits "orders of magnitude more efficient key-value data storage on the Solana Virtual Machine (SVM). A layered architecture allows the core matching engine to be formally verified without compromising on features."
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"Manifest finishes what Uniswap started — a high-performance, capital efficient crypto exchange is finally fee-less and fully on-chain," Kramer said in a statement.
Manifest is currently on devnet and is awaiting public launch on the Solana mainnet. The platform aims to integrate services with other protocols, such as swaps on the Solana DEX aggregator Jupiter and trading on Mango Markets.
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