Fill vs Band: Hadron makers can now see their fills plotted against their own quoted band, with fills from competing venues overlaid. Every fill is classified: retail vs non-retail (arb, wash, atomic), router vs non router. Questions it answers: - How does my adverse selection compare to other venues? - Should I skew my bid/ask? - How one-sided has my flow been?

We've recently crossed $50 million processed and $5m+ in TVL @Hadron_Fi 🥳 We've been growing exponentially since went live on mainnet ~70 days ago Only Possible On @Solana

Here's a few things you can configure on a Hadron propAMM that you can't on a CLOB or passive AMM 1) Continuous curves for pricing and inventory Most AMMs and CLOBs have discrete ticks/buckets, vs in a prop, the entire quoting function is an equation that takes in inventory and price and gives an output. this is super helpful to makers that want tight control over their quotes, esp useful in asset classes like PMMs with high adverse selection risk 2) Switch between multiple quoting strategies in a single pool super cheaply We let users store up to 16 Prefabs for the bid/ask and price/inventory changes, where each prefab is a different trading strategy that you can essentially draw into the program. In a single 50 CU txn, you can move from one book shape to another 3) Active and Passive quoting in the same pool Our inventory curve lets you replicate a lot of what a passive AMM can do, so you can create curves that reduce to DLMM but with any spread combo and customizable bin/tick sizes and spacings across the range. If uptime is important to you and your active infra breaks, you can switch to a passive strategy in the same pool (or choose to stop quoting automatically if you don't get a price update within X slots) 4) Segment flow at runtime We let you keep and update a dynamic list of accounts that you either want to widen or tighten to, so you can penalize toxic takers and quote tightly to retail swaps. This area is early and we have a lot more coming here All this in a double-audited contract. Props are by far the most expressive way for makers to quote on-chain

People are quite excited about props for perps But props will power all on-chain markets - spot, perps, prediction markets, options and anything else you can think of Liquidity depth will be a solved problem this cycle Teams are already building exchanges for some of these on top of Hadron today btw. More on this soon

This is exactly why we built @Hadron_Fi btw Tokenising an RWA is mostly trivial outside of reg, but most issuers today throw the liquidity on an AMM and trade with horrible execution. No one is going to buy this stuff if we don't offer comparable liquidity to tradfi. Which leads to the crucial question: How do you trade an asset with trillions in off-chain liquidity in a fragmented on-chain market? You could run RFQ but you break defi composability and 24hr trading. You'd also need to integrate into every router's RFQ one at a time. Not all frontends support it. The liquidity doesn't rest on-chain. There's basically no point in doing this long term. PropAMMs exist and can perfectly let you quote at a global maxima price with DeFi composability. They may be the most important market structure innovation for on-chain trading ever. Except all of them are black box and will only quote assets with some CEX listings. Maybe you're bringing an exotic asset on-chain. Maybe you want large trades to have tighter execution. You have no control over the infra and if they quote poorly well tough luck. It's like working with a predatory market maker because they're integrated with Binance and you need the listing. Not a great solution for a healthy long term market structure. With Hadron, anyone can spin up a propAMM that's audited, integrated into every router, transparent and lets you control your asset's destiny. You control the quoting and ensure your users get best execution. Hop on, we're building crucial market structure infrastructure to bring TradFi to Solana.

Props haven’t scaled because there wasn’t an easy way for anyone to access them for any asset and get flow instantly We’ve seen with @Hadron_Fi that anytime someone quotes any longer tail asset it’s the largest or second largest pool with 1/10th TVL pretty consistently. The era of walled garden props has effectively ended. Scaling comes next

On number two, you can setup a propAMM with any arbitrary swap function + runtime segmentation and get flow for in under 20 min on mainnet with @Hadron_Fi