Reimagining the AMM with
summary
Aqua keeps LP funds in the wallet until atomic settlement, routing trades through a tiny Aqua router and separate Aqua apps and strategies; LPs approve the router, call aqua.ship to commit balances, indexers surface quotes, and tokens move only when a swap validates. SwapVM provides reusable opcodes and a JS builder for price curves and fees (teens of opcodes today), but custom opcodes require editing and redeploying the SwapVM contract (contract size limit). Example: one wallet with $4,000 usable liquidity yields $6,000 effective exposure across strategies.
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chapters (29)
- 0:00Introduction to 1inch Aqua
- 0:29How Aqua Reimagines AMMs
- 1:08Liquidity Across Traditional Pools
- 2:23Aggregators Improve Trader UX
- 3:01The Liquidity Fragmentation Problem
- 4:29LP Governance Tradeoffs
- 5:55How Boosted Pools Add Fragmentation
- 6:25Design Goals Behind Aqua
- 6:47Liquidity Stays in the LP Wallet
- 7:42Router, Apps, and Strategies
- 8:23Aqua Applications and Swap Logic
- 8:45LP Strategy Commitments
- 9:38Committing Funds With aqua.ship
- 9:56Indexing Aqua Strategies
- 10:19Getting Quotes From Aqua Apps
- 10:38Atomic Swap Settlement
- 11:18Keeping Funds in the Wallet
- 11:32Liquidity and Governance Together
- 12:18Reusing One Balance Across Strategies
- 13:31Concurrent Trades and Balance Checks
- 14:06Introducing 1inch SwapVM
- 14:41Raw Aqua Apps Versus SwapVM
- 16:07Oracle Data and Custom Opcodes
- 16:42Aqua Beyond Automated Market Makers
- 17:06Prediction Markets and Privacy Pools
- 17:40Flash Loans as Aqua Apps
- 18:35Shared Liquidity From One Wallet
- 19:41Aqua Hackathon Bounties
- 21:23Custom SwapVM Opcode Q&A
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