Frequent batch auction
The frequent batch auction (Budish–Cramton–Shim) discretises time: orders arriving in a short interval clear together at a single uniform price that maximises matched volume, neutralising the latency arms race of the continuous double auction and, on chain, transaction-ordering (MEV) attacks. Within a batch time priority is irrelevant — every matched order transacts at the same price.
Code: mechanisms/fba.py ·
Demo: examples/sim_fba.py ·
Research: perps-cda-monteprediction.md