Today I want to spend some time looking into @reya_xyz.

Not a deep dive yet, just understanding what they’re trying to build.
Reya is working on an onchain perpetual exchange with a real orderbook.
The goal is simple: fast trading like a CEX, but with Ethereum-level security.

Key ideas behind the project:
– Orderbook-based perps (no AMM)
– Very fast execution using pre-confirmations
– Built as a based rollup on Ethereum
– Non-custodial clearing and cross-margin accounts
– Risk and margin system designed for active traders

It’s a big and complex design, with clear trade-offs.
Still early, but the architecture shows they’re thinking seriously about onchain trading.