1\ Q: "What would be the final form of AMMs?"
A: "One that eats other exchanges' liquidity."
We are building @IntegralHQ to be the last exchange.
When another exchange has better liquidity, we mirror it onto ourselves, til we have the world's best aggregate liquidity again.
2\ Our debut product will mirror 3x @binance spot market liquidity and instantly become the world's cheapest place to trade spot crypto, starting on @ethereum.
3\ This process can be thought of as a continuous vampire attack until all world liquidity is drained onto us.
4\ As we eat up more than half the world's liquidity, we will build out a competitive market clearing functionality that allows anyone to bid on providing market making strategies.
Our endgame: wean off mirroring and function independently, alone as the last exchange.
At @IntegralHQ we got it. The #defi magic is brought to you by a rare collaboration spanning from #harvard to @ethereum OGs. Made with care: 12,000 hrs R&D, 2 full audits. Launching soon.
2\ Price Discovery is an informational phenomenon.
Arbitrageurs race for profits for bringing fresh price information to @Uniswap through arb trades - an informed flow.
B/c Uniswap LPs already pay for this info (via "impermanent loss"), we want to avoid paying for it again!
3\ Our design pulls price info from @Uniswap Oracle and adds our own trade delay on top. This way, we harness the arb work on Uniswap to eliminate impermanent loss for our own LPs!
We now shift to design aspects for building efficient liquidity to rival world aggregate levels.