Professional Traders Still Use CEXs For One Reason. Fogo Just Eliminated It.
Latency. That's the whole answer.
I've talked to market makers who would love to run strategies on-chain full transparency, no counterparty risk, no trusting a black box with your capital. But 400ms blocks make serious HFT impossible. By the time your quote update confirms, the market moved. Your limit orders become free money for arbitrage bots.
Fogo at 40ms changes the math entirely.
Market makers can now push fresh limit orders every single block. Spreads tighten because the risk window between blocks shrinks to nothing. When spreads tighten, retail traders get better execution. It's a flywheel that didn't exist on-chain before.
Valiant DEX is where this actually plays out. It's not a swap interface wearing a DEX costume - it's built for the kind of delta-neutral strategies and statistical arbitrage that institutional desks run on centralized infrastructure. Except every order is verifiable on-chain.
That last part matters more than people realize. CEXs are fast but opaque. You're trusting them not to front-run your orders internally. On Fogo, deterministic execution means the price you see is the price you get provably, every time.
Speed plus transparency. That combination never existed before. Now it does.
