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

# Archer Exchange

Archer Exchange is a Solana-based market making infrastructure protocol that implements fully on-chain matching through a novel architecture: each market maker gets a dedicated order book that only they can write to, while execution remains permissionless. Co-founded by Dhrumil (@mmdhrumil), the design was inspired by observing that "prop AMMs did extremely well" — translating proprietary AMM control into a permissionless infrastructure primitive.

## Timeline
- **2026-03-09** — Architecture described: dedicated writable-only-by-you order books per MM, permissionless execution with competitive quotes, design inspired by prop AMM success

## Relationship to KB

Archer provides the market making infrastructure layer that could enable [[permissionless leverage on metaDAO ecosystem tokens catalyzes trading volume and price discovery that strengthens governance by making futarchy markets more liquid]]. The dedicated-book-per-MM model represents a novel mechanism design pattern sitting between pure AMM pooling and traditional centralized matching.

- [[domains/internet-finance/_map]]