amm

According to crypto analyst Yu Jin @EmberCN, the address gammafund.eth withdrew 9,000 ETH from Binance, worth approximately $17.86 million, at a transaction price of about $1,984.On-chain information indicates that this address may be related to the investment fund Gammafund.

The SUN.io platform officially launches SunSwap V4, which is a comprehensive upgrade to the AMM architecture.SunSwap V4 significantly reduces energy consumption for multi-hop transactions and complex strategies by introducing a singleton pattern and a flash accounting mechanism, while restoring direct support for native TRX, enabling seamless transactions without wrapping. The new version also provides developers with powerful "hook" customization features, allowing support for dynamic fees and on-chain oracles without modifying the core protocol; at the same time, V4's custom accounting allows hook developers to flexibly adjust user operations through differences, achieving custom fees, strategies, and curves.In addition, a brand new notification mechanism has been introduced, enabling real-time notifications through subscriber contracts. Meanwhile, users exchanging through SunSwap V4 will enjoy energy subsidies of up to 99%, inviting users to experience more efficient and lower-cost decentralized trading.

Matrixport released a chart stating that Bitcoin has seen almost no significant fluctuations this week, which precisely indicates that the current moment deserves more attention. Beneath the calm surface, the market structure is quietly changing. Approximately $2.5 billion in gamma exposure is about to clear this month, and $26.7 billion has been withdrawn from the market since its peak, with overall positions nearing a reset.The dominant factors for future trends may gradually shift from options mechanisms to liquidity itself. In this report, we will focus on three points: whether this recent rebound is misleading and sufficient to constitute a trend reversal; where passive hedging pressure will mainly concentrate after options expiration; and what conditions the market needs to meet to support a more sustainable stabilization.Perhaps the most noteworthy phase of this cycle is just beginning. Currently, Bitcoin's price is roughly flat compared to a week ago, but the movement is not stable. The previous rapid decline, followed by an equally swift rebound, is largely related to the structure of options positions. Market makers had previously maintained short gamma positions. As prices fell, they were forced to sell futures to hedge their exposure, which mechanically amplified the decline and accelerated the price towards $63,000.

Balancer announced on platform X that it has received a security report regarding Balancer's reCLAMM (rebalanced concentrated liquidity AMM) submitted by the bug bounty platform Immunefi.As a precautionary measure, Balancer has suspended the operation of the relevant liquidity pools during the investigation. User funds are currently safe and fully accessible, and further updates will be continuously announced.

According to Jinshi News, Gammaroad Capital Partners Chief Investment Officer Jordan Rizzuto stated that the potential employment situation appears to be stronger than expected, and may even be more optimistic than the recent assessments and descriptions provided by the Federal Open Market Committee (FOMC). If this data holds up in revisions in the following months, the implications for monetary policy suggest that we are closer to the neutral interest rate than the market had previously priced in.

According to reports, Byreal co-founder Emily Bao shared Byreal's three core strategies for 2026 at the Solana Accelerate APAC event held today in Hong Kong. The event took place during Consensus Hong Kong.Emily stated that Byreal will advance upgrades in 2026 around the following areas:Infrastructure: Byreal plans to launch an automated LP mechanism and AI-assisted LP strategies, including AutoSwap single asset entry, atomic execution, automatic calculation of optimal ratios, and Automated LP & Copy Farming, achieving automatic rebalancing and yield reinvestment to reduce the complexity of liquidity provision operations and provide users with AI intelligent LP strategies.Liquidity Mechanism: Byreal will introduce the Prop AMM strategy, adopting a structure of "protocol-first liquidity management + dynamic fee model" to increase rates on arbitrage flows and gradually open up market-making to participants, optimizing LP yield structure and trade execution quality.On-chain Trading of Traditional Financial Assets: Byreal will launch on-chain perpetual contracts within this year, supporting 24/7 trading of RWA and on-chain asset perpetual contracts, and integrating prediction market data as an on-chain signal layer to build a unified execution architecture.Byreal is a decentralized on-chain trading platform (DEX) incubated by Bybit, which has rapidly become one of the most notable DEXs in the Solana ecosystem since its launch in mid-2025.Emily stated that this upgrade aims to build the underlying infrastructure for Internet Capital Markets, reshaping on-chain liquidity and trading experience.

Binance founder CZ revealed that he discovered users on the social media platform X using AI-generated images to impersonate supporters who are closely associated with him.CZ pointed out that the account has 863,000 followers, used a photo from a BNB Chain event in Korea that he attended as a banner, and posted several AI-generated photos of him with CZ. By analyzing the details of the photos, such as the fact that he never wears blue or purple clothing, and the inconsistent resolution of the characters in the images, CZ identified these as forged images. The original photo was actually a picture with Aster CEO Leonard.CZ reminded the community to be vigilant against such potential scams, while also stating that the Binance team welcomes sincere constructive feedback.

According to Jinshi Data, the South Korean KOSPI 200 index futures fell by 5%, and programmatic trading was suspended for 5 minutes.

Helius CEO Mert stated on the X platform that AI has given Solana a significant competitive advantage in development. Solana's program model is more secure for AI compared to the interface model of EVM. On Solana, most operations (especially core functions like token creation, exchange, and movement) do not require writing new contracts, which means developers can reuse existing pipelines on the client side without needing new security audits, thus enhancing development speed.Developers can integrate existing pipelines, exchanges, and Token Hooks with a small set of prompts. Furthermore, the previous disadvantage of Solana, where the low abstraction level of the Rust language made contract writing more difficult, has been effectively mitigated by AI. It is expected that several startups valued between $1 billion and $10 billion will emerge on Solana this year.

Uniswap founder Hayden Adams posted on the X platform expressing his strong opposition to claims regarding the disadvantages of AMMs (Automated Market Makers). Hayden Adams pointed out that in low-volatility currency pairs, AMMs can provide stable returns for low capital cost investors, thereby weakening the competitiveness of professional market makers. In high-volatility long-tail markets, AMMs are the only scalable option, as project teams or early supporters act as liquidity providers (LPs), creating liquidity more effectively than paying option fees to market makers.Regarding the high-volatility popular token market, Hayden Adams stated that AMMs are continuously growing. Although order books are currently in optimal condition, the development of AMMs is still in its early stages. Through the development of Hooks in Uniswap v4, more profitable liquidity pools will be offered in the future. Hayden Adams believes that due to the advantages of low capital costs and easier liquidity combinations and collateralization, AMMs will ultimately prevail in this field.

Binance customer service representative Sisi disclosed a new type of scam on platform X and reminded everyone to pay attention to fund security. A user complained that they were scammed out of money by a "Binance executive" who promised to help solve a problem, but after the money was transferred, there was no further communication.Upon further investigation, several red flags were discovered: first, the scam was very simple; the chat screenshots and transfer records provided by the user showed that the "executive" did not verify any details, yet the user "absolutely trusted" them and transferred the money directly; second, the transfer records were suspicious, as the address claimed by the user to be the scam address was likely their own; third, the chat records "disappeared," and the user claimed that the other party had activated privacy mode, only able to provide screenshots of "post-questioning"; fourth, the account the user questioned was that of a real executive, but the executive was unaware of the situation.After the investigation, it was revealed that this was a self-directed scam targeting Binance and its users. The user fabricated chat records and transfer records (using a certain guarantee platform for the transfer records), then falsely claimed that the chat records were deleted, and later questioned the real executive's account, creating two sets of "executive" screenshots. Then, they approached customer service with the real executive's chat records, requesting verification, attempting to induce a response from customer service, and threatening to apply pressure through social media if assistance was not provided.Sisi stated that the purpose of sharing this publicly is to raise awareness and prevent various new types of scams. They also warned scammers and speculators that actions attempting to frame Binance through forgery and deception will be firmly exposed and legally pursued. Binance reminds users that the platform will not proactively contact users through unofficial channels, nor will it ask users to transfer funds or pay any fees to designated addresses.

Meteora announced on platform X that DAMM V2 has launched market cap-based trading fees, a feature that will support gradually decreasing trading fees as projects grow, to promote long-term sustainability and deter snipers.Meteora added that creators, deployers, and launch platforms on the platform can now define custom fee curves based on market cap to support each stage of the token lifecycle.

Wintermute CEO Evgeny Gaevoy posted on social media that some builders and KOLs who claim to "exit the crypto industry" before the age of 30 have not truly engaged deeply in industry development, and their statements are misleading. Gaevoy pointed out that this group of people is often not long-term investors but chose to leave at an early stage, so it does not constitute a genuine "exit." He believes that describing brief participation as "exiting the industry" is essentially about gaining industry experience and reputation that do not belong to them, which is unfair to long-term practitioners. Gaevoy emphasized that the development of the crypto industry relies on continuous investment and construction, and leaving after a short-term attempt should not be packaged as a symbolically significant personal choice.

According to The Information, enterprise software company ClickUp has announced the acquisition of AI programming startup Codegen. This deal is the latest example in this year's wave of mergers and acquisitions in the AI programming field.This summer, Google's acquisition of Windsurf and Cognition attracted widespread attention, while this month, Anthropic acquired development tools startup Bun, and Cursor acquired code review startup Graphite.