Two ways to market-make a PMX market

Hadron is a proactive AMM: rather than pricing off a fixed constant-product curve, it quotes a tight bid and ask around a mid price you feed it. Point that mid at the market's fair odds and the pool continuously offers to buy just below and sell just above — a real two-sided book, on-chain, without resting individual orders.

• —This is a market-making bot you deploy and run yourself (via Hadron) — it's for more sophisticated makers, not something the platform does for you. Nothing tracks the price on its own: you configure it, and only while you keep it funded and running does it re-center its quotes as the odds move — so your liquidity can follow the odds instead of sitting still and getting picked off.
• —Holds a token/USDC inventory and skews its quotes to pull that inventory back toward balance after each fill.
• —Because pricing tracks an oracle rather than a passive curve, it takes on far less adverse selection and impermanent loss than a naive AMM — the trade-off is you run it actively.

Setting it up

1. 1

   Create a Hadron account at hadron.fi and connect a funded Solana wallet — SOL for gas, USDC for inventory.

2. 2

   Open a PropAMM pool for the market's outcome token paired with USDC. Use a Linear curve; that's the shape PMX markets quote on.

3. 3

   Seed inventory — deposit USDC, and the outcome token if you hold it, as the working capital the pool quotes from.

4. 4

   Link it to the market so the mid tracks the fair odds. The pool then rests quotes a tick either side of that mid and re-centers as the odds move.

5. 5

   Let it run. It quotes both sides continuously; you watch inventory and pull it down when you want to stop.

Meteora's DLMM splits a pool into discrete price bins. You choose the range your liquidity sits in, and every swap that trades through those bins pays a fee that accrues to your position. The lighter-touch route: set a range, deposit, collect.

• —Lets you concentrate liquidity where the odds actually trade. A tighter band around the current price earns more fees per dollar deposited.
• —Charges every trade a swap fee — about 0.5% on these pools — that lands in your position for you to claim.
• —Only bins at or near the current price earn. If the odds drift out of your range, that liquidity stops collecting until you re-center — so you rebalance as the market moves, and carry impermanent loss when it does.

Setting it up

1. 1

   Fund a Solana wallet with USDC and, optionally, the outcome token — DLMM supports single- or double-sided deposits.

2. 2

   Open the pool from the market's Liquidity tab, or directly on Meteora — it's the outcome token / USDC pool.

3. 3

   Pick a range and shape — spot for an even band, or bid-ask / curve to weight toward one side of the current odds.

4. 4

   Deposit. Your liquidity is placed across the bins you selected and starts earning on trades through them.

5. 5

   Claim and re-center. Collect accrued fees, and move your range when the odds shift so the liquidity keeps working.

Which one

Style

PropAMM — Active, oracle-anchored quoting

DLMM — Set-a-range, passive fee farming

Paid by

PropAMM — Spread + swap fee

DLMM — Swap fee on in-range volume

Follows the odds

PropAMM — Automatically, via the pushed mid

DLMM — Only within your bins — you re-center

Impermanent loss

PropAMM — Low — quotes track fair price

DLMM — Real if the price leaves your range

Effort

PropAMM — Higher — inventory + mid to manage

DLMM — Lower — deposit, claim, rebalance

Best for

PropAMM — Deep, continuous books

DLMM — Yield on a view of the odds