V12 (ex. Spark) is a decentralized on-chain order book exchange built on the FuelVM, designed to deliver high-speed, low-latency trading experiences. It supports both limit and market orders, with all transactions recorded on-chain for transparency. An off-chain matcher service pairs buy and sell orders, executing trades in approximately 1.5 seconds, and charges a minimal fee of $0.001 per transaction. The platform also offers a tiered fee structure, providing volume-based discounts to incentivize larger trades. V12 is compatible with various wallets, including Fuel Wallet, Fuelet, MetaMask, and Phantom, facilitating seamless user onboarding. Traders can engage in spot trading using the order book or direct swaps, while market makers benefit from incentive programs and service level agreements. Additionally, V12 provides developer tools such as Rust and TypeScript SDKs, along with data indexing solutions, to support the creation of advanced trading applications . V12 (ex. Spark) is a fast, on-chain order book DEX on FuelVM with low fees and real-time trade matching.