The AMM engine transitions between four states based on real-time market conditions. Click any state to view its parameters and transition triggers.
NORMAL
Full AMM + RFQ, standard batch sizes
Spreads: standard
Batch: 100%
RFQ: enabled
Queues: none
→←
ELEVATED
Wider spreads, reduced batch caps
Spreads: 1.5x
Batch: -50%
RFQ: enabled
Queues: none
→←
STRESSED
RFQ-first routing, AMM throttled
Spreads: wide
Batch: -70%
RFQ: priority 80%
Queues: active
→←
HALTED
No new trades, settlement only
Spreads: N/A
Batch: 0
RFQ: disabled
Queues: drain only