SUPERLUMINAL DFBA TERMINAL v0.9
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Superluminal
PRE-LAUNCH · TESTNET · NOT FINANCIAL ADVICE

An exchange that fills
by price, not by speed

Superluminal is an on-chain perps exchange that batches orders every 40ms and fills everyone in an auction at a single clearing price.

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[ 01 ] WHAT IT IS

Batches orders in a 40ms window
and clears each auction at one price

Superluminal isn't its own chain — it's an app on Fogo, a high-performance L1 with 40ms blocks. What matters is how it processes orders: DFBA (Dual Flow Batch Auction) collects orders in a 40ms window and matches them at an auction clearing price (everyone in the same auction gets the same price).

BUY · price · size
40ms window
collecting
SELL · price · size
Collecting…
Collected for 40ms, filled at the price where buyers meet sellers. * Two auctions (buy/sell) → two clearing prices; the gap is the spread.
[ 02 ] DUAL FLOW BATCH AUCTION

Processed by a window, not by order

Instead of arrival order, DFBA collects orders in a 40ms window and settles two auctions (buy / sell) — each at one clearing price.

40ms WINDOW CLEARING PRICES
Sells ↑ Clearing price Buys ↓
BUYER AUCTIONSELLER AUCTION
Many order prices → one clearing price per auction.
1

Collect — sealed for 40ms

Orders are gathered into a sealed box for 40ms. No one sees who came first, no one can react. Line-cutting becomes impossible.

2

Dual flow — buy & sell auctions

Orders split into a buy auction and a sell auction, run independently. Makers don't fight each other; they match real demand.

3

One clearing price per auction

Each auction settles at its own single price. 0.001s early or late, same price. Speed drops out of the equation.

Why 40ms? A batch auction needs a short, precise window — Fogo's 40ms block time makes it possible. Measured: median batch interval exactly 40.0ms.
[ 03 ] THE PROBLEM

On a normal exchange (CLOB),
the faster side takes the good price first

A CLOB (continuous limit order book) fills orders the instant they arrive, in arrival order. Play it below and watch how a fast order ⚡ grabs the best quote first.

SPEED RACE

Incoming orders · arrival order

Press play — orders fill against the book in arrival order.

ORDER BOOK

RESULT ①
Fast orders take the best quote first.
RESULT ②
Slow orders get only the already-worse price.
RESULT ③
Makers widen the spread to defend, and regular traders pay for it.
Adverse selection = getting filled only by someone faster (better-informed) than you. Makers call it "toxic flow."
[ 04 ] SIMULATOR

Compare it yourself

Send the same order into CLOB and DFBA. Notice the books differ — that's the point: CLOB widens its quotes to defend against fast pick-off; DFBA can't be picked off by speed, so makers quote tighter (docs: narrower spreads). Result: DFBA fills at one better price, no front-run.

SIZE0.25 BTC
· demo. Per the docs (Jump Crypto·Fogo): each batch runs two auctions, each settling at one price, filled pro-rata, not time-priority. The tighter DFBA book here models the docs' result — no speed pick-off → makers don't widen defensively → narrower spreads & deeper liquidity (model simplification).
CLOB wider — defends vs pick-off
DFBA tighter — no pick-off
CLOB · avg fill
waiting
Run to compare →
DFBA · one clearing price
waiting
[ 05 ] SUMMARY

The whole thing in one slide

CLOB processes by order; DFBA processes by window. That one difference sums up to the four numbers below.

40ms
batch window · Fogo block time
1
clearing price per auction · same for all
0
speed edge · no line-cutting
2
dual flow · buy & sell auctions
PROBLEM
CLOB fills in arrival order — the fast side takes the good price first, and the slow side eats slippage and pick-off.
SOLUTION
DFBA batches into a 40ms window, splits into buy/sell auctions, each settling at its own clearing price — speed drops out.
RESULT
Everyone in the same auction gets the same price, no line-cutting. Even in extreme moves each auction aims to clear at one gap-free price.

Key terms

Adverse selectionGetting filled only by someone faster or better-informed than you. Makers call it "toxic flow."
Uniform priceEvery fill in an auction happens at the same clearing price — regardless of arrival order or order size.
Marginal priceThe price of the last unit where supply meets demand = the clearing price. This single price applies to everyone in that auction.
Batch auctionInstead of continuous matching, orders are collected over a time window (40ms) and cleared all at once.
superluminal
Filled by price, not by speed.
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