Central limit orderbooks have been around in TradFi / NASDAQ etc for a long time & even in DeFi with perps DEXs. Of course now Hyperliquid is the biggest one. When I say ‘new’ I’m referring to the ability for onchain infra to support these things at scale to even come *close* to rivaling CEXs/tradfi. The infra is finally here and we have our first CLOB (Hyperliquid) that is competing with CEXs & we will see many more pop up in the coming months as apps on MegaETH, Monad, and Celestia as well as many alt-L1s. CLOBs on a shared L1 with necessary redundancy to achieve consensus likely won’t be as performant as those on a specialized chain, typically w single colocated sequencer. The counterargument there is lack of censorship resistance, which is a valid point. TLDR; CLOBs have been around in TradFi & DeFi, but the level of scale & throughput available now is a massive breakthrough which will have major positive consequences for our space. Onchain price discovery is one of the last remaining items to achieve unfuckwithable DeFi adoption.