How do TDMM and Arrakis compare at a glance?
| TDMM | Arrakis | |
|---|---|---|
| Founded | Active since 2015 | 2021 |
| What it is | A market making firm | A non-custodial on-chain liquidity management protocol |
| Centralised exchanges | Yes: Binance, OKX, Bybit, Gate, KuCoin and others | Not covered; Hyperliquid's on-chain order book is the only order-book venue named |
| Decentralised exchanges | Uniswap, PancakeSwap, SushiSwap, Raydium, Orca and others on seven chains | Uniswap v3 and v4, Aerodrome, Velodrome, PancakeSwap Infinity on eight chains |
| Custody | Exchange accounts in the project's name with trade-only keys | The issuer's team holds the vault NFT and can withdraw at any time |
| Inventory | Project inventory or a token loan | The issuer's own tokens; no token loan |
| Published scale | $10B+ traded; 200+ markets | 100+ issuers; $5B+ on-chain volume; $62.3M total value locked |
| Other services | Listing support, treasury management, exit management | Launch integrations such as Uniswap CCA and Aerodrome Ignition |
Who is Arrakis?
Arrakis Finance was founded in 2021 by Ari Rodriguez and Hilmar Orth and raised a $4 million seed round in 2022 from Uniswap Labs Ventures, Accel and others. Its product for issuers, Arrakis Pro, describes itself as a non-custodial on-chain market making solution: the issuer deposits its own tokens into a vault, holds the NFT that represents ownership, and Arrakis's strategies manage the liquidity position on the DEX. Changes to core parameters carry a two-day timelock, and the contracts have been audited by firms including ChainSecurity.
Arrakis says it manages more than 100 token issuers and has facilitated more than $5 billion of on-chain volume, and names clients including Morpho, Maple, Ether.fi and Stargate. DefiLlama showed $62.3 million of total value locked across eight chains on 9 October 2026. Arrakis publishes no fee schedule; one 2025 DAO proposal set out a 1% annual fee on assets and 50% of the trading fees the vault earned. Its published risks include smart-contract risk and impermanent loss, which the issuer bears. It does not cover centralised exchange order books, listing support or OTC.
Where is Arrakis's on-chain liquidity?
Arrakis total value locked by chain
Where is Arrakis strong?
Self-custody
The issuer keeps ownership of the position through a vault NFT and can pause or withdraw at any time.
On-chain transparency
Vault positions are visible on-chain, and DefiLlama tracks total value locked, fees and revenue.
No token loan
The issuer supplies its own inventory, so there are no call options to price.
DEX launch tooling
Integrations with Uniswap's auction format, Aerodrome Ignition and Binance Alpha pools, and useful founder guides.
Where does TDMM differ from Arrakis?
Centralised exchanges
TDMM quotes order books on Binance, OKX, Bybit, Gate, KuCoin and other exchanges. Arrakis does not.
One price across venues
TDMM runs order books and pools from one reference price and one inventory, so pools do not drift from exchange prices.
Solana and other non-EVM pools
TDMM manages liquidity on Raydium and Orca today. Arrakis describes Solana as launching.
Services around the market
Listing preparation, treasury management and exit management sit on the same desk.
TDMM or Arrakis: which fits which project?
| Your situation | Likely better fit | Why |
|---|---|---|
| Token trades only on EVM DEXs and the team wants to keep custody | Arrakis | Non-custodial vaults with on-chain visibility |
| Token is listed, or will list, on centralised exchanges | TDMM | Arrakis does not cover exchange order books |
| Token trades on both CEX and DEX | TDMM, or both together | One book across venues, or a vault for pools with a market maker for exchanges |
| Solana token on Raydium or Orca | TDMM | Live coverage today |
| DAO wanting protocol-owned liquidity managed on-chain | Arrakis | Built for this use |
| Need listing support, treasury sales or investor exits | TDMM | Outside Arrakis's scope |
What should you ask both firms before signing?
Who bears impermanent loss?
In a vault, the issuer does. In a mandate, it depends on the inventory terms. Ask both.
How do pool prices stay in line with exchanges?
If the token is on a centralised exchange, someone has to align the two.
What are the fees on my deposit and my trading fees?
Arrakis publishes no schedule, so ask for the asset fee and the share of fees.
What happens in a smart-contract incident?
Ask about audits, upgrade controls and timelocks.
Which other TDMM comparisons can you read?
TDMM publishes 16 one-to-one comparisons. Each uses the same structure so they can be read side by side.
Frequently asked questions
What is Arrakis Finance?
Arrakis Finance is an on-chain liquidity management protocol founded in 2021. Its Arrakis Pro product manages token issuers' liquidity on decentralised exchanges through non-custodial vaults that the issuer owns.
Is Arrakis a market maker?
Arrakis calls Arrakis Pro an on-chain market making solution. It manages liquidity positions on DEXs through smart contracts. It does not quote centralised exchange order books, so it is not a market maker in the traditional sense.
Should a token project use Arrakis or a market maker?
A token that trades only on DEXs and wants to keep custody can use a vault such as Arrakis. A token on centralised exchanges needs a market maker. A token on both can use one firm for everything, as with TDMM, or pair a vault with a market maker.
How much does Arrakis charge?
Arrakis publishes no fee schedule. One 2025 DAO proposal for a single deal listed a 1% annual fee on assets under management and 50% of the trading fees the vault generated. Ask Arrakis for current terms.
Is Arrakis safe?
Its contracts have been audited by firms including ChainSecurity, and issuers keep ownership of their position. Its own risk page lists smart-contract, upgrade, oracle and impermanent loss risks. A deprecated early version lost about $7,100 in an oracle manipulation in August 2026, according to DefiLlama.
Does TDMM do on-chain market making?
Yes. TDMM manages pools and concentrated liquidity ranges on Uniswap, PancakeSwap, SushiSwap, Raydium, Orca and others across seven chains, on the same book as its centralised exchange market making.
Related TDMM offerings and guides
Offerings
Details about Arrakis come from its website and public records read on 9 October 2026 and may have changed. Arrakis is not affiliated with TDMM and its name is used for identification only. TDMM publishes this page and has an interest in the comparison. This is not investment, legal or tax advice.