Smart automated market maker (SAMM) provides on-chain liquidity to a simplified dual-outcome parimutuel market. Using such a SAMM with external market context being provided by independent probability nodes can allow a system to bootstrap liquidity efficiently. This result has the potential to solve the liquidity consistency problem typically faced by parimutuels whilst being efficient enough to keep fees to parimutuel participants low. Ongoing governance is then required for parameter calibration to keep the system in a state of equilibrium.
More information on SAMM protocol can be found here.