Phoenix is a decentralized limit order book on Solana that supports spot asset markets. Phoenix offers an immediate settlement. Phoenix, unlike other order books on Solana, does not require an asynchronous crank to settle trades.

Phoenix does not have its own token, nor have they hinted at introducing one, although one may be launched in the future. Users who trade on the marketplace may be eligible for an airdrop if they decide to launch one.
https://www.phoenix.trade