Execution, not throughput, is the real battlefield. The industry’s obsession with TPS dashboards confuses motion with control. Speed is no longer scarce. What’s scarce is disciplined sequencing.
Fogo is another latency contender. The deeper edge is structural. By compressing inclusion variance and constraining slot level discretionary reordering, Fogo narrows the gap between transaction intent and execution. That’s not a performance tweak. It’s microstructure engineering.
Bounded ordering changes incentives. Market makers can quote tighter spreads because adverse selection risk declines. Liquidity providers don’t need to overprice slot manipulation. Routers simplify. Slippage reflects real depth rather than extractive noise.
The real test isn’t benchmark throughput. It’s behavior under volatility when flow surges and extraction incentives spike. If execution discipline holds during stress, liquidity consolidates instead of fragmenting.
Speed attracts users. Execution integrity retains capital. And in DeFi, capital ultimately defines which architecture endures.
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