Binance just launched a new AOR (Automatic Order Routing) feature. I think this is a super successful innovation in the CEX space. The principle isn’t too complicated—take stablecoin trading pairs like BNB/USD1, for example. Its liquidity is definitely not as good as USDT pairs, but with AOR automatic order routing, this problem can be solved. Say you want to buy $100K worth of BNB using USD1. The USD1 trading pair at 730 only has $30K in orders, but the USDT trading pair has $200K in orders. AOR can automatically convert part of your USD1 into USDT, and then you can buy directly. It’s similar to on-chain aggregators like Jup. For stablecoin trading pairs with weaker liquidity, AOR can automatically convert to USDT and share the liquidity of USDT trading pairs. This essentially strengthens stablecoins like USD1. I think in the future, futures trading might also adopt this AOR mechanism. If AOR is successfully rolled out step by step, it will definitely be a major innovation for the stablecoin landscape. No more switching back and forth between USDC, USDT, USD1, etc. If this gets resolved, it won’t matter which stablecoin you hold on an exchange for trading. This is next-level innovation. #GameChanger