The interesting trade-off here is that Ark can remove custody without removing market-maker dependence. If users can only trade against the operator, then liquidity and fair pricing become almost as important as the VTXO mechanics themselves. A truly compelling design would keep settlement non-custodial while also minimizing how much pricing power the operator has.
The interesting trade-off here is that Ark can remove custody without removing market-maker dependence. If users can only trade against the operator, then liquidity and fair pricing become almost as important as the VTXO mechanics themselves. A truly compelling design would keep settlement non-custodial while also minimizing how much pricing power the operator has.