Phoenix Trade
The fastest on-chain orderbook decentralized exchange (DEX) built on Solana, offering low fees and instant settlement.
Overview
Phoenix is a decentralized exchange (DEX) protocol featuring the fastest on-chain orderbook in decentralized finance (DeFi). Built on Solana, it enables users to place limit orders with exceptional speed, efficiency, and transparency. Trades are confirmed on-chain within approximately 0.5 seconds, leveraging Solana's high-performance network to deliver ultra-low transaction fees and near-instant settlement. Phoenix's crankless design allows funds to be immediately available for withdrawal once orders are filled, improving user experience by eliminating delays common in traditional on-chain orderbooks.
The protocol is fully non-custodial and trustless, ensuring users maintain complete control over their private keys and assets. Its open-source codebase is audited by OtterSec and includes a bug bounty program, emphasizing security and transparency. Phoenix enforces price-time priority on its orderbooks, meaning orders closest to the mid price fill first, and among orders at the same price, earlier orders get priority. This design supports fair and efficient trade execution.
Phoenix targets DeFi developers and financial institutions seeking a high-performance decentralized trading infrastructure. Integration requires interaction with Solana blockchain and the Phoenix smart contracts, with comprehensive documentation and developer tools available. Users can verify deployed code matches the open-source repository using the Solana Verify CLI. The protocol's low protocol fees (as low as 0.02% per trade) and minimal network fees (~$0.0002 per transaction) make it cost-effective for high-frequency trading and liquidity provision. Developers can get started by accessing the GitBook documentation and exploring the open-source code on GitHub.
The Problem
Decentralized exchanges often suffer from slow trade execution, high fees, and delayed settlement due to on-chain limitations. Many on-chain orderbooks require manual cranking, causing latency and poor user experience. Additionally, lack of transparency and custodial risks reduce trust in DeFi trading platforms.
The Solution
Key Features
Price-Time Priority Execution
Orders closest to mid price fill first; among equal prices, earlier orders have priority.
Immediate Withdrawal Post-Fill
Funds become instantly available for withdrawal once orders are executed.
Build Verification Tool
Solana Verify CLI allows users to verify deployed program matches the open-source code.
Key Strengths
How Developers Use Phoenix Trade
High-Frequency Trading on Solana
Developers build trading bots that leverage Phoenix's low latency and low fees for rapid order execution.
Decentralized Limit Orderbook DEX
DeFi projects integrate Phoenix to offer users a transparent, trustless limit orderbook trading experience.
Institutional DeFi Trading Infrastructure
Financial institutions utilize Phoenix for secure, auditable, and efficient on-chain trading solutions.
Works Well WithSolana
Power your next build
Discover trusted tools and services in the QuickNode Marketplace. Everything you need to launch faster and scale smarter.
Phoenix Trade Alternatives
Explore web3 competitors and apps like Phoenix Trade.
AtomicDEX
AtomicDEX is a decentralized exchange platform focused on next-generation finance and cross-chain trading.
Sudoswap
A decentralized, gas-efficient automated market maker protocol for NFT-to-token swaps using customizable bonding curves.
PancakeSwap DAO
Trade, earn, and own crypto on the all-in-one multichain decentralized exchange (DEX).
Osmosis
Osmosis is the leading decentralized exchange and DeFi hub built as a sovereign Layer 1 appchain in the Cosmos ecosystem, enabling cross-chain asset swaps and liquidity provision.
SushiSwap
SushiSwap is a decentralized exchange and DeFi platform supporting over 30 chains with a powerful aggregator for optimal trading rates.
Pangolin
Pangolin is a multichain decentralized exchange (DEX) launched by AvaLabs, enabling token swaps, liquidity provision, and rewards across Avalanche, Hedera, Flare, and Songbird.
PancakeSwap
PancakeSwap is a leading decentralized exchange on BNB Smart Chain offering trading, earning, and gaming features with low fees and full user custody.
Thorchain
THORChain is a decentralized, non-custodial cross-chain liquidity protocol enabling native asset swaps without wrapped tokens or intermediaries.
Frax (FRAX)
Frax Finance is a decentralized finance protocol offering a suite of stablecoins, lending markets, AMMs, and a modular Layer 2 chain.
Pricing
Standard | |
|---|---|
| Price (Monthly) | Free |
| Price (Annual) | Free |
| Messaging | N/A |
| Support | Community support via Discord and GitHub |
| Analytics |
Resources
Phoenix provides comprehensive resources including detailed documentation, an open-source codebase, audit reports, and a verification tool to ensure trust and ease of development.