---
type: entity
entity_type: company
name: "Archer Exchange"
domain: internet-finance
status: active
founders:
  - "Dhrumil (@mmdhrumil)"
key_metrics:
  architecture: "Dedicated writable-only order books per market maker"
  execution: "Fully on-chain matching"
tracked_by: rio
created: 2026-03-11
---

# Archer Exchange

Archer Exchange is a market making infrastructure protocol on Solana that implements fully on-chain matching through dedicated order books. Each market maker receives a writable-only-by-them order book, while execution remains permissionless through competitive quote aggregation. Co-founded by Dhrumil (@mmdhrumil), the protocol was designed based on the observation that "prop AMMs did extremely well," suggesting dedicated liquidity venues outperform shared pool models.

## Timeline
- **2026-03** — Architecture described publicly: dedicated order books per MM with on-chain matching, positioning as infrastructure primitive for Solana DeFi

## Relationship to KB

Archer provides the market making infrastructure layer that enables [[permissionless leverage on metaDAO ecosystem tokens catalyzes trading volume and price discovery that strengthens governance by making futarchy markets more liquid]]. The dedicated order book pattern represents a novel coordination primitive: permissionless consumption of permissioned production.

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

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