Why Ethereum PropAMMs Aren’t Actually AMMs
Today we're joined by Katia Banina, CEO of Bebop, to unpack one of the most misunderstood emerging trading primitives in DeFi: PropAMMs.
We discuss:
What Bebop does and its evolution
Why PropAMMs aren’t actually AMMs
RFQs vs streaming quotes
The concept of Request for Stream (RFS)
How PropAMMs work on Ethereum
Market maker incentives and quote signing
Toxic flow and execution quality
Block builders and sidecar quote streams
Ethereum vs Solana PropAMM designs
Oracle updates and onchain execution
RFQ vs PropAMM tradeoffs
Adoption across aggregators
The future of onchain market structure
And…
The skinny
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