Exchanges play a pivotal role as the most influential application within the cryptocurrency ecosystem, spanning across sectors such as decentralized finance (DeFi), GameFi, and non-fungible tokens (NFTs). The majority, if not all, of the trading volume in these sectors ultimately flows back to exchanges. The orderbook model remains dominant in large centralized exchanges, both in traditional finance and the crypto sphere, as it has proven to be reliable, fast, and capital-efficient. However, transitioning an orderbook to an on-chain solution poses immense challenges. Development teams face obstacles such as high transaction costs, slow trade execution, and inaccurate pricing, among others. To date, only a limited number of on-chain orderbook implementations have been successful. Each implementation involves making tradeoffs in terms of speed, efficiency, and reliability, striking a balance to overcome these challenges.