Routing Standard For Proprietary Market Makers “PropAMMs”
This standard proposes a common routing interface for proprietary automated market makers (“propAMMs”). It mainly defines exact input quoting and swap execution functions.
A shared interface would reduce integration work for aggregators and make it easier for market makers to make their liquidity available across the Monad ecosystem.
Why This Is Needed?
PropAMMs derive prices following different mechanisms: from venue-specific logic, oracle updates, offchain market-making systems, signed price commitments, inventory constraints, or other custom mechanisms rather than a pre defined onchain curve.
This flexibility creates fragmentation for routers and on-chain aggregators as existing venues expose different interfaces. Without a common interface, every router must implement and maintain an integration code specific to a single propAMM.
With a common interface, aggregators can reuse the same onchain quote and execution flow across compatible propAMMs. Venues can implement the interface directly or expose it through an adapter around their existing contracts.
The proposal supports both contracts dedicated to a single market and singleton contracts serving multiple markets. It also accommodates quote methods that perform state changes, with quotes evaluated inside isolated-reverting call frames.
Example Use Cases
- Onchain aggregators: an aggregator that do quote, find swap paths and execute it fully on-chain can build on top of this MRC to easily plug-into any compatible propAMM’s liquidity.
- Market-making infrastructure: on-chain protocols that let multiple market makers run their own propAMM instances and stream quotes can expose a consistent interface across those instances, simplifying aggregator integrations.
Feedback from market makers, aggregator teams, and propAMM developers is welcome, particularly on whether the proposed interface accommodates your existing quoting and execution flows.