That’s a solid breakdown! I’d like to add a few more considerations. One of the fundamental challenges is achieving an efficient and scalable order-matching system. Traditional exchanges use centralized order books, but in a decentralized setting, this has to be handled either on-chain or through off-chain solutions like layer-2 scaling. On-chain order books provide more transparency but can be slow and expensive due to network congestion, while off-chain solutions offer better performance but require a balance between decentralization and efficiency.