building blocks and filling slots @titanbuilderxyz
Joined April 2020
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>$100m pAMM volume on ethereum today 🫡
That’s ~10% of all mainnet spot volume served by ~$7m total liquidity across makers. Very impressive capital efficiency.
Trade sizes also growing nicely. Only a week ago you’d struggle to get filled above $50k and now there are frequent 100k+ prints.
pAMMs now account for ~50% of volume across certain trade size buckets on aggregators such as OKX and Kyberswap.
The sweet spot is the $1k to $100k region, covering a sizable portion of retail flow.
1/ PropAMMs just blew through $1B in total volume swapped on Ethereum, with DeFi users enjoying price improvement on over 130K swaps.
This has been a collaborative effort to bring more liquidity to Ethereum, utilising guarantees of economic security, decentralization, liveness and censorship resistance 🧵
Only 1 pAMM (Fermi) currently quotes reliably on sizes above $100k on the ETH/stable pairs, and availability is heavily influenced by inventory skew.
This is only a short-term problem. As more pAMMs emerge, aggregators and solvers will split orders across multiple pAMMS. Additionally, as makers get more comfortable with their quoting logic, I expect to see additional liquidity available across a wider range of assets.
We built and open-sourced flux-profiler: a low-overhead profiler for low-latency Rust systems that produces traces compatible with Jane Street’s magic-trace UI.
1/3 We love Jane Street’s magic-trace. But most of our infrastructure runs on AMD, and magic-trace is Intel-only, so we built our own performance profiler for low-latency Rust pipelines and open-sourced it: flux-profiler.
It produces traces fully compatible with magic-trace and the Perfetto UI.
It was developed primarily for Linux x86-64. ARM and macOS have not been fully validated yet, so there may be some limitations.
How it works: mark the functions you actually care about with #[timed], and it records every call with only ~14ns of hot-path overhead. Because you control the event volume, you can leave it running and capture hours of execution, not seconds.
Below is a real trace of beacon state updates captured with flux-profiler and opened in the magic-trace viewer.
$10m cumulative pAMM volume incoming
I'm just gonna leave this here. Amazing work @titanbuilderxyz @class_lambda making PropAMMs a reality in Ethereum.
We're gonna do everything we can for Ethereum to win.
A few searchers have already integrated and started landing atomic arbs routed via propAMMs!
We ran some numbers and found that atomic searchers are losing ~$1.5m per month executing through high-fee Uniswap pools on intermediary legs of their atomic swaps.
Sneak peek at a dashboard I’ve been working on:
• propAMM spreads vs. Binance VIP9
• markouts for landed Ethereum trades across major AMMs
• leaderboards by protocol, pool, searcher, and more
Coming soon ™️
CryptoQuant retweeted
PropAMMs are live on Ethereum! pAMM liquidity is now available in every Titan block.
This is a major step toward broader Application-Controlled Execution (ACE) on Ethereum.
🤖 Made with AI
CryptoQuant retweeted
What if we could make the Ethereum transaction journey and block construction process faster, cheaper, more flexible, censorship resistant, & robustness?
What if we could do this today?
This is what the Blockspace Forum is about. 🧵👇
CryptoQuant retweeted
Ethereum produces the highest-grade blockspace on the planet today.
PBS has been criticised a lot, but it’s actually done a great job alleviating centralisation pressure on the core protocol. The job isn’t done yet though, let’s keep pushing the status quo forward 🫡
Post Below 👇
As of yesterday, these wallets have burned through the ~60 ETH they were funded with and are no longer active.
Now we wait to see if anyone tops them up...
Someone is burning $100k a month, making zero ETH transfers to the Maestro router, but why?
Whilst trawling etherscan, I noticed an unusual amount of high-priority fee empty transfers to Maestro: Router 2. Opening the Maestro router showed these were extremely frequent, often occurring more than actual swaps and almost always paying ~35 Gwei in priority fees.
If anyone wants to do some sleuthing, here are the addresses:
0x2E8DD7074e8fC80A47F0bBfAb3c3b58D54796430
0xd89c31cebC4c153e4942dBBE939d25f1944bF20c
0xE5b25ac4f3eECEeB651fDC90ADC39dc7804e2236
0xE45Dab1963db3604F3A4D1c5b05CA62b45928bD0
0x80689dDDcA621B4aD8Efd3ab6Ad306e050f3dC91
0x3c3c72283527f02c1d2A3BDeBe684260408f50bF
0xff31F52C4363b1daCb25D9DE07dfF862bf1d0e1C
0x35118b21744B188b88075710b31e67BC638C6b4F
Someone is burning $100k a month, making zero ETH transfers to the Maestro router, but why?
Whilst trawling etherscan, I noticed an unusual amount of high-priority fee empty transfers to Maestro: Router 2. Opening the Maestro router showed these were extremely frequent, often occurring more than actual swaps and almost always paying ~35 Gwei in priority fees.
What’s the point of this? The answer could lie in the block inclusion. If we examine the builder distribution, we can see the suspicious transactions land almost exclusively with BuilderNet, with a small portion also going to beaverbuild. Compare this to regular Maestro flow, which lands across all builders.
