---
type: entity
entity_type: company
name: Archer Exchange
domain: internet-finance
status: active
founders:
  - Dhrumil (@mmdhrumil)
platform: Solana
product_type: DEX
tracked_by: rio
created: 2026-03-11
---

# Archer Exchange

Archer Exchange is a fully on-chain DEX on Solana that implements dedicated, writable-only-by-you order books for each market maker. The architecture eliminates state contention by giving each MM isolated writable state while maintaining on-chain settlement and price discovery. Co-founded by Dhrumil (@mmdhrumil), the design was inspired by the observation that "prop AMMs did extremely well."

## Timeline
- **2026-03-09** — Architecture described in X thread: each MM gets dedicated order book, fully on-chain matching, permission-less execution with competitive quotes model

## Relationship to KB

Archer's dedicated order book architecture represents a new mechanism design pattern for DEX infrastructure, distinct from both AMM pools (shared liquidity) and centralized order books (off-chain matching). The design could be applied to futarchy conditional token markets to improve liquidity without requiring shared capital pools.

Relevant claims:
- [[archer-exchange-implements-dedicated-writable-only-order-books-per-market-maker-enabling-fully-on-chain-matching]]
- [[permissionless leverage on metaDAO ecosystem tokens catalyzes trading volume and price discovery that strengthens governance by making futarchy markets more liquid]]