Introduction

HMM (Haedal Market Maker) is a specially made automated market maker which can not only maximize the capital efficiency on Sui but can also dramatically boost yields for all Haedal users. It is fueled by Haedal's protocol-owned liquidity, aiming to generate substantial additional yields for haSUI. It's not only empowering Haedal's own economy, but also reshapes the liquidity landscape and promotes liquid staking development on Sui.

HMM transforms market volatility into sustainable yield for haSUI holders. It has significant advantages in the following aspects:

• High Capital Efficiency: HMM can achieve equivalent capital efficiency that can be compared to the liquidity in ultra-narrow ranges in CLAMM pools, while maintaining much higher flexibility. It easily beats traditional AMMs in terms of efficiency, with superior liquidity utilization that is improved hundreds of times.

• Low Drawdown: Leveraging Sui’s robustness and high TPS, HMM can swiftly adjust the liquidity distribution in pools by capturing price fluctuations in volatile pairs (e.g., SUI-USDC), effectively controlling risks and minimizing the drawdown caused by volatility.

• Anti-MEV: HMM is naturally resistant to MEV. It can effectively defend against various types of front-run and sandwich attacks, ensuring uncompromised yield performance.

HMM’s superior advantages in DeFi adoption are mainly achieved through the following technologies and mechanisms: dynamic liquidity concentration, oracle-based proactive pricing, and inventory management.