The next wave of capital to hit perp DEXs is 10x the entire perp DEX market today.
It comes from HFT desks. Only two venues are built to serve it.
One of them, Reya v2.
Read the architecture:
https://t.co/ZLRE31Z5jO
Meet @reya_xyz, a high-performance, zk-verifiable orderbook.
Built for high-throughput, low-latency trading. Join the waitlist to get early access to Season 2.
Join → https://t.co/VyB8g8ixnv
🎙️ Reya | v2 - Let's talk about it
Fri 2 Oct · 9AM UTC
feat @0xSimonJones (CEO) + @arturbegyan (CTO) + @daniel_gal77203 (Head of Engineering)
The orderbook is open in Private Beta.
Hear directly from the people building it:
→ why we’re currently in Private Beta
→ how we're tightening spreads and adding markets ahead of the full launch
→ how the gate and Season 2 reward the earliest in, and how to climb
→ your questions, answered live
Submit your Qs via the form in the following post
Set your reminders
https://t.co/6lsUfczNMu
@HountaarMindar@GemeauxReel Est ce que ce blanc en question avait tendu sa main ds la video...
Je vous comprends pas ...why vous niez les faits...vous etes trop bizares... vous faites des conories mais vous les assumez pas...c est dégeu les gars....
Putain
v2 is now live in Private Beta!
We say goodbye to the AMM (v1) that delivered $135bn in volume and served 10,000 traders. And say hello to the orderbook; the first stage of the v2 roadmap, built to deliver a high-throughput, low-latency, zk-verifiable exchange.
Private Beta only for now, as institutional market makers ramp up and as we expand the list of tradable markets.
Join the waitlist to be among the first to trade in Season 2.
Being early is your edge.
3/ @Lighter_xyz
Strongest on the first two: every match, funding payment and liquidation is zk-proven, state settles on Ethereum.
Ordering is the gap. A single sequencer picks the order, and the proof validates whatever order it was handed.
2/ @HyperliquidX
All three layers rest on the same thing: HyperBFT validators agreeing with each other.
Honest majority, everything's fine. It's a coherent model and it clearly works at scale.
It's just trust, not proof.
5/ @reya_xyz v2 (target design)
Settlement + execution: zk proofs, trades settled on Ethereum.
Ordering: FIFO queue, blocks built inside a TEE, so clients can check the rule was followed.
That's attestation, not math. You trust the enclave. Still beats "trust the operator".
6/ The line nobody puts on their landing page:
None of these four proves fair ordering with pure cryptography.
The honest comparison is what you have to trust: a validator set, a sequencer, a house desk, or a hardware enclave plus rotating nodes.
7/ Caveat: Reya's column is the target architecture. The orderbook goes live Sept 28, based sequencing and rotating execution nodes come in stages.
So which assumption would you rather hold ?
Validators, a sequencer, a house desk, or a TEE ? 👇
Reya v2 opens in Private Beta today. It's also the start of Season 2.
Initial access is restricted to a group of Season 1 traders and institutional market makers, bringing markets and liquidity live across the book.
Markets roll out in phases. First batch: ETH, BTC, SOL, HYPE, XRP. Alts, commodities, indices, and equities follow.
Expect a few weeks of ‘getting things live’. Once market, liquidity, institutional traders are all up and running “Golden Tickets” will launch; if you get one you will get instant access to the dapp.
Season 2 rewards the traders who help build the book before general access. Fewer in now means a bigger share for showing up first.
Today's switch:
→ The move from the AMM takes ~4 hours
→ Everyone sees the waitlist screen during it, whitelisted or not. It's temporary.
→ Your funds are safe throughout
→ When it's done, whitelisted wallets go straight in. Everyone else holds their place for the waves ahead.
Get ready for Reya v2.
A Golden Ticket isn't a referral link. It's a key.
One a week. Whoever you hand it to skips the queue and lands straight on the book.
You take 10% of their fees and points. For life.
Spend it on someone who moves size, not a tourist.
Full Season 2 detail in QT