RE: LeoThread 2025-12-10 23-48

[mogilath]

Really cool design. Welcome (back) to the cross-chain fam.

Comments

[mogilath]

Harbor addresses this issue by splitting roles between two opposing components: the central limit order book (CLOB) and a smart order router.

[mogilath]

Harbor is launching a Layer 1 network with native asset vaults able to custody diverse assets — Bitcoin and UTXO variants (Litecoin, Zcash), Ethereum and its L2s, Solana, and more. The first application is a cross-chain order book that offers fast, efficient spot trading for the growing cross-chain swap market.

[mogilath]

The network uses a dual-actor marketplace to secure fair pricing and execution for cross-chain swaps. Solver-based designs suffer from an all-or-nothing model that encourages solvers to inflate quotes while executing anywhere within a wallet’s price tolerance (typically ~3%). Harbor mitigates this by separating the CLOB and the smart order router.

[mogilath]

The CLOB represents market makers’ interests: high-performance programmatic trading APIs enable very tight pricing, often within a single tick of the best bid or ask, at meaningful size.

[mogilath]

The smart order router represents swappers’ interests: it places limit orders at the quoted amount so market makers compete to fill at that price, or the order moves down the book until it fills or refunds according to price tolerance.

[mogilath]

This structure prevents any single maker from owning execution quality. Swaps are worked through the order book, using liquidity from multiple makers to secure the best fillable pricing while avoiding quotes that exceed fillable orders.

[mogilath]

Harbor’s hybrid design — threshold-signature vault custody, a decentralized validator set, a high-performance matching engine, and support for purpose-built subnets using its vaults — aims to position the network as a leading L1 capable of delivering neutral, efficient, decentralized native-asset rails. Additional materials (intro blog post, whitepaper) are planned.