Say Network: Optimizing Decentralized Trading on a Customizable L1 Blockchain

Jay, the co-founder of Say Network, a layer 1 blockchain, sits down with Sam on the JDC podcast to discuss the evolution of decentralized finance. Jay explains his journey into crypto and how his experience working as a software engineer at Robin Hood inspired him to build a transparent and trust-minimized platform for options trading.

Building the Say Network

Jay and his team recognized that the current layer one solutions for decentralized exchanges (DEX) weren’t optimized for trading and had issues with congestion, throughput, and latency. They wanted to build a layer one blockchain from scratch to address these issues and provide customizability across every layer of the stack. This resulted in the creation of the Say Network, which optimized the trading experience for users, market makers, and exchanges.

The technical capabilities of Say Network

Say Network has a native order matching engine that’s built into the chain, offering markets front-running prevention and improving the user experience. The consensus layer has been updated with custom changes to the mechanics of Tendermint, resulting in higher throughput and faster Latency. Lastly, Say Network utilized market-based parallelization, enabling exchanges to improve their performance and see 22,000 orders per second processed and 450 millisecond block time.

Building on Cosmos

Jay explains that there are generally two types of layer one solutions: general-purpose chains like Ethereum and Solano, and application-specific chains like Osmosis and Eydxb4. He believes that the design space in the middle is the most interesting since it provides the benefits of composable and socially coordinated general-purpose chains and customizable application-specific chains. Jay chose to build the Say Network on Cosmos because it’s interoperable and customizable, allowing them to change every part of the stack as necessary while still having access to generic parts such as Cosmos SDK.


The Say Network serves as a solution to the problems facing decentralized trading by optimizing the trading experience for users, market makers, and exchanges. By utilizing market-based parallelization, customizing Tendermint, and adding a native matching engine, Say Network provides a throughput and latency optimized blockchain for order book-based exchanges. The customization level provided by the Cosmos SDK allows Say Network to make changes necessary for an improved trading experience.

Source : Journal du Coin | Date : 2022-10-10 19:07:44 | Durée : 00:41:27

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