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.