CLOB = Central limit order books. Market makers want them, because they can apply for classical market making strategies by just copy-pasting the existing code. These strategies rely on the fact that 1) canceling orders is free 2) This comes down the market making profitability as described here However, a truly decentralized blockchain is an oxymoron with the idea of 1) centralized 2) free transactions. The primary issue with high-frequency trading is that actors with privileged access (those with shorter cables) have winner-takes-all markets. I do not see how spamming the chain with order cancels can be a long-term solution, even if it is a short-term solution and already happening on Hyperliquid and now being advocated on Solana. The original value promise of blockchains and Bitcoin was that we have a spam-resistant distributed ledger where all transactions can be ordered fairly. Instead, for market making we should focus on decentralized solutions that leverage the power of blockchains. If canceling orders is the underlying problem, then each order should be a smart contract that can cancel itself when the conditions for canceling occur. If they depend on an external price, then the whole chain should have only one price feed with this price, and this way we can avoid clobbering the chain with useless cancel order transactions. Also, we should rethink if classical market making algorithms are needed, how far AMM can go, and instead we just hand over the master keys for the blockchain to likes of Jump and Jane Street.