# Summary #### Slippage and Market Impact AMM-based DEXs (e.g, Uniswap, Raydium) inherently suffer from price impact when executing trades, particularly for large positions or illiquid assets. This makes them unsuitable for serious capital deployment. #### MEV and Front-Running Publicly broadcasted transactions on blockchains attract front-runners (including validators/miners) to reorder or sandwich trades, extracting profits at the expense of legitimate users. #### Liquidity Lockup and Opacity Liquidity is either locked inside AMM pools or controlled by opaque OTC desks, limiting transparency and flexibility. #### Liquidity Fragmentation Cross-chain trading remains operationally complex, requiring bridges, wrappers, and multiple settlement layers. #### Counterparty Risk OTC trades depend on trusted intermediaries, introducing settlement and default risk. #### Fragmented Derivatives Markets Cross-chain derivative trading or transferring positions across ecosystems is cumbersome, if not impossible, without centralized exchanges. On-chain derivatives platforms are evolving rapidly (dYdX, GMX, Drift, etc.), but remain siloed within their own ecosystems. ### Fragmented and Untapped Telegram OTC Liquidity A significant portion of real trading activity in crypto occurs **outside of traditional exchanges and on-chain venues**, within informal, socially coordinated environments—most notably **Telegram-based OTC communities**. Despite the scale and persistence of this activity, the majority of decentralized trading protocols fail to acknowledge, integrate, or safely access this liquidity. As a result, a large and economically meaningful market remains structurally disconnected from trustless settlement infrastructure. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://atomics.gitbook.io/atomics/welcome-to-atomics/readme/problem-statement/summary.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.