🛰️Opportunity

One of the key successes of AMMs in DeFi was their ability to allow anyone to provide passive liquidity for automated market making. In contrast, most market-making liquidity for orderbooks is limited to institutions, effectively locking out individual users.

Currently, the only option for exchanges to enable passive liquidity is through single-exchange vaults. These vaults, offered by a single exchange, deploy strategies confined to one platform, limiting their ability to hedge exposure to market movements. As a result, LPs in these vaults face market risk—a risk market makers typically mitigate by hedging inventory across multiple exchanges. This constraint leads to a lower risk-adjusted return for LPs, as single-exchange vaults cannot maintain a delta-neutral position. To compete with traditional market makers, these vaults often rely on preferential order treatment, insider information, or unsustainable token rewards, making them objectively inferior to the capabilities of professional market makers.

This presents a significant opportunity for Rysk, whose goal is to enable anyone to participate in sophisticated market making across multiple venues—enhancing exchange liquidity, increasing market efficiency, and allowing passive users to profit from rewards and advanced strategies that were previously inaccessible.