FWIW that's the ultimate vision for AMMs on Serum -- you can trade directly against them using x*y=k, *or* you can just go to the orderbook and they'll all be providing there too
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too much big words and thonks
tldr is CEXes experience can emulate AMMs liquidity with additional users limit orders?
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this picture helped me to better visualize what i already know
the end game will be aggregators that execute against both DEX orderbooks + liquidity pools to have maximum liquidity
CEX models can include that liquidty on top of their off-chain orderbooks
same for OTC brokers twitter.com/js_horne/statu…
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i understood it as the opposite, that the serum AMM is basically the sum of all existing AMMs liquidity profile that anyone in the market can execute against
but yeah, the result is a single venue to access all liquidity and leaves the bridging and execution to the backend
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Is this how it is envisioned?
CLOB will be “on chain” and sitting on top of a set of AMMs.
User can trade using orderbook for limit orders and can use AMM aggregated feed for market orders.
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or could just send market orders to the orderbook and would still trade against MMs and also AMMs
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That is so intricate.
So, a single order from user might be filled by MMs and combination of few AMMs. All on chain.
As more people provide liquidity to AMM, MMs would have higher competition and spread will be tiny for end user. 👀
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Yup!
The beauty of composability :)