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Tilting at PropAMMs - Markus
In this episode of Deeply Intents I chat with Markus Schmitt, Founder of Propeller Heads. We dive into PropAMMs: what they are and how they are changing the market microstructure on Ethereum. In addition we unpack the Propeller stack of Tycho, Fynd, and Turbine which will enable a trustless trading experience on Ethereum main-net.
Timestamps
(00:00) - Setting the stage
(01:11) - What is a PropAMM?
(03:24) - Solana PropAMMs vs Ethereum PropAMMs
(04:56) - RFQ Systems in comparison
(06:44) - PropAMMs solve many issues
(08:17) - Offchain actors set parameters on a curve
(10:05) - How PropAmms impact onchain routing
(14:31) - AMM can provide better prices than a maker
(16:34) - PropAMMs and market microstructure
(20:32) - Ethereum is a coordination layer
(25:48) - Building a self-sovereign trading stack
(30:16) - Advantages of open source
(31:38) - Fynd turns Tycho into a DEX aggregator
(37:10) - Listening to developer feedback
(39:31) - Local routing is 100x faster
(45:01) - Fynd is customizable
(46:50) - Turbine solves problems for large traders
(49:20) - Inspiration for Turbine
(50:24) - Trades settle in batches
(53:45) - Confidentiality, Transparency, & TEEs
(57:06) - Turbine is a mixture of many things
(56:30) - Open source can be very good business
(59:51) - Spicy prediction on DeFi
(1:03:44) - Ethereum is the model to follow
Disclaimer
Nothing in this episode should be interpreted as financial, technical, or legal advice. The host does contract work for Heliax, a public goods laboratory, focusing on Anoma.
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By AprioriIn this episode of Deeply Intents I chat with Markus Schmitt, Founder of Propeller Heads. We dive into PropAMMs: what they are and how they are changing the market microstructure on Ethereum. In addition we unpack the Propeller stack of Tycho, Fynd, and Turbine which will enable a trustless trading experience on Ethereum main-net.
Timestamps
(00:00) - Setting the stage
(01:11) - What is a PropAMM?
(03:24) - Solana PropAMMs vs Ethereum PropAMMs
(04:56) - RFQ Systems in comparison
(06:44) - PropAMMs solve many issues
(08:17) - Offchain actors set parameters on a curve
(10:05) - How PropAmms impact onchain routing
(14:31) - AMM can provide better prices than a maker
(16:34) - PropAMMs and market microstructure
(20:32) - Ethereum is a coordination layer
(25:48) - Building a self-sovereign trading stack
(30:16) - Advantages of open source
(31:38) - Fynd turns Tycho into a DEX aggregator
(37:10) - Listening to developer feedback
(39:31) - Local routing is 100x faster
(45:01) - Fynd is customizable
(46:50) - Turbine solves problems for large traders
(49:20) - Inspiration for Turbine
(50:24) - Trades settle in batches
(53:45) - Confidentiality, Transparency, & TEEs
(57:06) - Turbine is a mixture of many things
(56:30) - Open source can be very good business
(59:51) - Spicy prediction on DeFi
(1:03:44) - Ethereum is the model to follow
Disclaimer
Nothing in this episode should be interpreted as financial, technical, or legal advice. The host does contract work for Heliax, a public goods laboratory, focusing on Anoma.