Pact is building the kind of DeFi legos Algorand needs—low fees, MEV-resistant design. Just hope they avoid the "too many cooks" trap that’s slowed other AMMs down.

The liquidity layer just got stronger. KyberSwap @KyberNetwork is now live on RISE, combining RISE’s ultra low latency infrastructure with a protocol that has facilitated over $150B in trading volume. This smart routing across AMMs and orderbook venues on @risechain to find the best available price — all executed in a single transaction. Better pricing, deeper liquidity, and a smoother trading experience for users across the ecosystem.

AMMs have liquidity pools and price impact, it follows a formula

Wall Street’s impact is overstated—Uniswap’s revenue growth (150% YoY in Q2) and self-sustainable fee burn show organic demand already pricing in 10x potential. We track daily flow vs. legacy AMMs; breaking it down in our reports.

🚨 XRP Ledger just hit a major milestone. TVL in XRPL AMMs has reached $80.6 million its highest level in over 6 months. More liquidity. More users. More activity. The network keeps growing. $XRP 🦅 #XRPL #XRP

🚨 AMMs On The XRP Ledger Just Hit $80.6M TVL, Highest In Over 6 months. The timing is way deeper than people think. On June 10, SBI Shinsei Bank launched a pilot allowing customers to convert 20% of their deposit interest directly into XRP. SBI Japan CEO, who is a major believer in XRP, also disclosed that SBI succeeded in cross-border payments using crypto and guess what… a Bank Of Japan associate assumed a position at the BIS. Interestingly, BoJ banker Yuto, also disclosed that SBI Japan is not only invested in XRP, but also in the ecosystem… mainly XRPL DeFi(@doppler_fi) and identity(@DNAOnChain) protocols. It’s not just XRP holding the bag. XRPL’s native protocols, AMM liquidity pools, DEX hooks, and on-ledger capital efficiency are pulling serious inflows. Deeper pools, tighter spreads, and compounding yields across key pairs as institutions quietly integrate the full stack. The entire XRPL ecosystem is hardening the rails in real time. Next phase loading⏳🌊

Did you know the busiest chain in crypto already replaced the passive AMM? 53% of Solana's DEX volume now runs through prop AMMs that price against a live oracle, not a pool EVM is next

DeFi 1.0 (2020-2021): Simple AMMs, basic lending, yield farming. The era of Uniswap, Compound, Aave, Yearn. Incredible innovation but mostly primitive financial products. Swaps and lending. That’s it.

I wrote a breakdown on how Automated Market Makers (AMMs) use simple, deterministic math (x * y = k) to replace middlemen with reliable smart contracts. Read the architectural deep dive here: 👇 🔗 dev.to/binnadev/how-amms-wor… #DeFi #SmartContracts #Web3

Tokenized Apple, Tesla, NVIDIA now swap on a permissionless AMM with no broker-dealer in the loop. Best execution and Reg NMS order protection attach to brokers and exchanges, not to AMMs or non-broker UIs. The gap we have flagged for months is the front door now.

Hyperliquid isn’t just another Layer 1—it’s a purpose-built, decentralized trading engine. Designed from the ground up to solve the latency and liquidity bottlenecks that plague on-chain derivatives, Hyperliquid achieves CEX-level order matching without sacrificing self-custody. For the uninitiated: Think of Hyperliquid as the infrastructure layer where perpetual swaps, spot trading, and native yield infrastructure converge on a single, fully on-chain order book. No off-chain sequencers. No trusted intermediaries. Just speed—currently processing thousands of orders per second with sub-second finality. Why does this matter for HYPE-ETF? Because we are not tracking a random token. We are backstopping the network effects of a blockchain that is already processing billions in volume monthly. The HYPE token is the economic heartbeat of this ecosystem: used for gas, staking, and—critically—as the primary collateral across Hyperliquid’s liquidity pools. For ETF investors, this structure introduces a novel risk/reward profile: - **Income component**: Staking rewards and protocol fees accrue to HYPE holders, creating a yield-bearing asset class more akin to a cash-flowing equity than a pure utility token. - **Demand driver**: As Hyperliquid’s order book deepens, more traders require HYPE for margin and trading privileges—creating organic, non-speculative buying pressure. - **ETF wrapper**: HYPE-ETF packages this exposure into a regulated, dividend-eligible structure, eliminating the need for self-custody, wallet management, or navigating CEX compliance. The Hyperliquid thesis is simple: the next phase of DeFi will look less like DeFi 1.0’s fragmented AMMs and more like a centralized exchange’s order book—but fully on-chain. HYPE-ETF is the vehicle to access that thesis without touching a hot wallet. We are not here to speculate. We are here to participate in the infrastructure migration. Know the layer. Own the wrapper.

Killing 611 lets AMMs host tokenized equities buuuuut clearing, settlement & “same-rights” custody will ultimately decide who wins.

🔴 SEC proposes scrapping 20-year equity rules, clearing path for tokenized stock trading on AMMs The Securities and Exchange Commission on June 11 proposed rescinding Regulation NMS Rules 611 and 610(e), trade-through requirements governing U.S. equity execution since 2005. Benchmark Equity Research called the proposal "the most consequential piece of regulation to impact the U.S. crypto space" this year. Rule 611 (Order Protection Rule) mandates execution at the national best bid and offer; Rule 610(e) prevents locked and crossed markets.

📰 Crypto news roundup: the SEC could be about to reshape how U.S. crypto markets (and tokenized securities) operate—while Bitcoin pushes higher and macro headlines keep the tape watchable. 🚨 **Regulation watch:** Benchmark says the SEC’s proposed NMS market-structure reforms (aimed at removing key routing/venue constraints tied to NBBO-style protections) could become one of the biggest regulatory variables for crypto in 2026. If those rules are repealed, DeFi-oriented execution models like AMMs may face fewer legal bottlenecks—though big gaps remain around exchange registration, clearing/settlement, and custody, leaving room for “innovative exemptions.” 🔥 **Market move:** BTC has broken above **67,000 USDT**, climbing about **4.65%** in 24 hours—momentum returning as traders position for the next catalyst. 🌍 **Geopolitics on the radar:** Reports say the U.S. and Iran have signed a memorandum of understanding, with details expected within 24–48 hours. The deal includes an Iran reconstruction fund potentially up to **$300B**, and any unfreezing or sanctions easing will hinge on future performance. 📈 **Corporate/BTC strategy debate:** Fresh analysis is pushing back on “death spiral” fears around Strategy (MSTR). Analysts point to cash buffers and the STRC perpetual preferred structure as stabilizers—framing STRC as a “yield capital protection” engine rather than pure leverage risk. #Bitcoin #CryptoRegulation #DeFi #TokenizedStocks

Probably the LIQD token gating on pools. We are also a proprietary oracle AMM with some public pools and our code is not public or open source. We don’t need $6M TVL to produce more fees per dollar and more volume per dollar. TVL is an outdated metric for AMMs.

Prop AMMs traded 52% of Backpack SPCX volume, with GoonFi dominating that trade, doing 82% of propAMM volume.