Brett Harrison: evaluation

Transcript context

…Is there any way to make it more fair? Yeah, so I think there's actually kind of real world analog of that which is like automated market makers on slow blockchains. Because if you're used to working on Nasdaq where Nasdaq processes like a single message in somewhere between like tens and hundreds of nanoseconds per order a blockchain, like ethereum processes what, like 15 to 50 messages per second, so significantly slower by numbers of orders of magnitude. And yet they've been able to establish pretty mature financial marketplaces by saying that rather than you having to send orders with prices on them and then cancel them when the prices aren't good anymore, there will be kind of an automated function that moves the prices at the matching engine. And so whenever your order reaches the exchange, it'll always be kind of a predetermined fair price based on the kind of prevailing liquidity at the time. So one can imagine building a Nasdaq for interstellar market is kind of similar to building uniswap now on a theory of in terms of order, magnitude and speed. But there's other things you can do, too, like you could establish like, periodic auctions instead of like continuous matching and things like that. And that could potentially help mitigate some of these issues. Yes, that's something else I want to ask you about. What do you what is your opinion of periodic frequent batch auction systems? Should we have more of that instead of so?…

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