---
type: entity
entity_type: company
name: "Archer Exchange"
domain: internet-finance
status: active
founded: 2025
founders: ["Dhrumil (@mmdhrumil)"]
platform: "Solana"
website: ""
tracked_by: rio
created: 2026-03-11
key_metrics:
  architecture: "Dedicated writable-only order books per market maker"
  execution: "Fully on-chain matching with permissionless competitive quotes"
---

# Archer Exchange

Market making infrastructure on Solana that implements dedicated, writable-only order books for each market maker with fully on-chain matching. The architecture separates write permissions (isolated per MM) from execution (permissionless competitive quotes), designed to solve execution quality problems in Solana DeFi. Co-founded by Dhrumil (@mmdhrumil), the design was inspired by observing that "prop AMMs did extremely well."

## Timeline

- **2026-03-09** — Architecture described publicly: dedicated writable-only order books per MM, fully on-chain matching, permissionless execution model
- **2026-03-09** — Co-founder predicts "Solana DeFi overtakes Hyperliquid within 2 years" based on composability advantages

## Relationship to KB

- Provides market making infrastructure layer that could support [[permissionless leverage on metaDAO ecosystem tokens catalyzes trading volume and price discovery that strengthens governance by making futarchy markets more liquid]]
- Implements novel mechanism design pattern: isolated order books with competitive execution
- Part of Solana DeFi infrastructure buildout alongside [[meteora]], [[jupiter]], [[raydium]]