April 28 (Cointime) -  Magic Eden, a decentralized exchange and NFT marketplace, has announced the launch of its automated market maker (AMM) on the Solana blockchain. The AMM Pools provide a way for users to manage buy-side, sell-side, and double-sided liquidity pools on the platform.

"Handling a single item sell-order or buy-order is a manageable task for users, but managing multi-item sell or buy orders (LPs) can quickly become overwhelming. Magic Eden’s AMM makes it easy to manage sell-side, buy-side, and double-sided LPs, regardless of the LP size." the firm stated in an official educational document.

According to a tweet from Magic Eden, the AMM will offer zero maker fees for an unspecified period and a 1.3x fee multiplier on all liquidity pools. In addition, there will be a $50,000 prize pool for liquidity providers.