What if you have permissionless self-listing and trading...
...on an orderbook?
serum-academy.com/en/add-market/
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One reasons AMM are popular is because everybody can self-list and have instant liquidity for all market participant. An orderbook CEX/DEX can never compete with this!
AMM DEX:
1. Permissionless self-list
2. Permissionless trading
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