Trustless OTC marketplace
On-chain escrow accounts let two desks settle nine-figure trades atomically without trusting a centralised matcher. Partial fills, dark-pool mode, and RFQ flows are all native primitives — not bolt-ons.
v0.1 · Rust workspace · MIT-licensed · Solana-native
Finally, a trading stack built for whales.
Moby Market is the open-source Solana infrastructure for executing nine and ten-figure orders without front-running, slippage, or strategy leakage. OTC matching, TWAP/VWAP execution, zero-knowledge privacy pools, and intent-based solvers — all in audit-ready Rust.
- Target slippage
- < 0.1%
- Confirmation p99
- < 400ms
- Throughput
- 1,000+ ord/s
- License
- MIT
moby-trading / src / twap.rs
// 100M SOL unwind, 48h window, anti-detection on let order = TWAPOrder { trader, token_in: SOL, token_out: USDC, total_amount: 100_000_000, time_window: 48 * 3600, num_splits: 288, randomness_factor: 42, price_deviation_limit: 25, min_output_per_interval: _, }; submit_intent(order).await?; // → 0.08% realised slippage // → routed across 12 venues // → zero observable pattern
The stack
Seven primitives, one execution surface
Every feature exists because retail-grade DeFi loses money for whales. Each one is a real Rust crate in the workspace, not a marketing bullet.
TWAP & VWAP with anti-detection randomness
Execution algorithms slice parent orders into hundreds of randomised child orders timed against natural market volume. A tunable randomness factor (0–100) defeats pattern detection by adversarial bots.
Zero-knowledge privacy pools
Pedersen-committed amounts, stealth addresses, and a choice of Groth16, PLONK, STARKs, or Bulletproofs. Strategy stays private; compliance stays provable via selective disclosure.
Intent-based solver competition
Post a constrained trading intent; a network of solvers competes via commit-reveal to execute it. On-chain reputation rewards solvers who fill at the tightest price with the least leakage.
Smart routing across Solana DEXs
Liquidity is aggregated across Serum, Raydium, Orca, Phoenix, Lifinity, and custom AMMs. Up to four-hop routes and dynamic split execution adapt mid-flight to liquidity shifts.
Cross-chain atomic settlement
CrossChainOrder primitives integrate Wormhole and LayerZero so a single order can settle across Solana, Ethereum, Arbitrum, and Base with sub-five-minute finality.
Formally verified, audit-ready Rust
Anchor 0.29 on solana-program 1.16, with release builds enforcing overflow checks, LTO, and single-codegen-unit determinism. Critical paths target formal verification rather than bug bounties alone.
How it fits together
A controller program plus five specialised crates
The Cargo workspace is intentionally small. Each crate owns one concern; the controller orchestrates.
moby-types
Shared structs — TradingIntent, OTCEscrow, TWAPOrder, VWAPOrder, PrivateTransaction.
moby-math
Fixed-point arithmetic, big-int helpers, Pedersen commitments. Built on rust_decimal and num-bigint.
moby-oracle
Pyth / Switchboard / Chainlink aggregation with TWAP staleness checks.
moby-trading
TWAP, VWAP, intent processing, smart routing across Serum, Raydium, Orca, Phoenix, Lifinity.
moby-privacy
Groth16 / PLONK / STARKs / Bulletproofs verification and confidential-transfer plumbing.
moby-bridge
Cross-chain primitives over Wormhole and LayerZero for atomic cross-chain settlement.
The landscape
How Moby Market compares
Honest summaries of the venues whales already use. Each card links to a detailed comparison.
vs Hashflow
EVM-first RFQ aggregator
Hashflow streams bilateral quotes from market makers to retail and pro traders across EVM chains. It is the closest analogue to Moby Market on the RFQ axis but stops short of native algos, privacy pools, and Solana settlement.
Read comparison →
vs CoW Protocol
EVM solver network and batch auctions
CoW pioneered the solver-competition model on Ethereum. Moby Market shares that DNA and extends it to Solana with privacy pools, explicit RFQ, and execution-algorithm intent types beyond best-of-N pricing.
Read comparison →
vs Paradex
Privacy-leaning perps on Starknet
Paradex is a Starknet-native perpetuals venue with a privacy story. Moby Market focuses on spot and cross-asset OTC for whale unwinds, with execution algos rather than a fully matched orderbook.
Read comparison →
vs Renegade
MPC-based dark pool
Renegade uses multi-party computation to hide orders pre-trade. Moby Market trades MPC for zero-knowledge proofs, runs on Solana, and adds RFQ, TWAP/VWAP, and cross-chain settlement as first-class features.
Read comparison →
vs Jupiter
Solana aggregator
Jupiter is the dominant Solana swap aggregator for retail flow. Moby Market complements Jupiter at sub-million sizes but is built for orders where slippage, MEV, and strategy leakage make naive aggregation unusable.
Read comparison →
From the engineering blog
Notes on execution, privacy, and MEV
Long-form pieces written by the team and the contributor network.
May 26, 2026
The state of institutional DeFi in 2026
Three years after the institutional-DeFi narrative started, what actually got built, what stalled, and where the surviving infrastructure is converging. An industry view from the people writing the Rust.
Read post →
May 12, 2026
A $100M SOL unwind, end-to-end: how the moby-market primitives compose
Walk through a realistic large-position unwind on Solana from intake to settlement — RFQ check, TWAP scheduling, privacy mode, route splitting, and post-trade reporting — using the actual primitives in the moby-market workspace.
Read post →
Apr 29, 2026
RFQ is a feature, not a product: Moby Market vs Hashflow
Both protocols offer request-for-quote at institutional sizes — but only one is built around RFQ alone. A look at where the EVM-first quote-streaming model wins, and where a Solana-native execution stack with privacy and algos pulls ahead.
Read post →
FAQ
Answers for the questions whales actually ask
If yours isn't here, open an issue or reach out — answers get folded back into the docs.
Is Moby Market open source? +
Yes. The full Rust workspace — including the OTC, execution, privacy, oracle, and trading crates — is MIT-licensed and lives at github.com/cryptuon/mobymarket. The on-chain programs and the off-chain Rust services are both auditable.
Which chain does it run on today? +
The reference implementation targets Solana via Anchor 0.29 and solana-program 1.16. Cross-chain order primitives (CrossChainOrder) integrate Wormhole and LayerZero so settlement can extend to Ethereum, Arbitrum, and Base.
How does Moby Market beat Uniswap-style slippage on a $50M trade? +
Three mechanisms. TWAP/VWAP shred the parent order into hundreds of timing-randomised children. Smart routing splits across Serum, Raydium, Orca, Phoenix, and Lifinity. The OTC marketplace lets the entire block clear bilaterally without ever touching a public pool.
What stops MEV bots from sandwiching my execution? +
Solver submissions use a commit-reveal scheme, intent payloads can be routed through private mempools, and stealth-mode orders are mixed with other traders so that observers see noise rather than a coherent strategy.
How private is "private"? +
Amounts are hidden by Pedersen commitments. Sender and receiver addresses are masked by stealth addresses on both sides. Privacy pools enforce a minimum anonymity set (default 100) and a configurable withdrawal delay so timing analysis fails.
Can institutions meet compliance requirements while staying private? +
Yes. The compliance module supports selective disclosure: a trader can prove accreditation, jurisdiction, or KYC status without revealing identity or strategy. Auditors get a verifiable trail; competitors get nothing.
What does it cost? +
The protocol is free to use at the smart-contract level. Self-hosted deployments cost only network fees. The Moby Market team offers a paid engagement tier for integration, custom audits, and SLA-backed operations — see /pricing.
How does the solver network avoid centralisation? +
Solvers stake collateral, build on-chain reputation across executed intents, and compete in commit-reveal auctions. Poor performance and griefing burn reputation; the design intentionally rewards correctness, not scale.
Stop bleeding alpha to retail-grade tooling.
Read the Rust workspace, run it against devnet, and bring your size on-chain. The whole stack is MIT-licensed — pay zero to use it, pay only if you want our team in the room.