This sounds very DeFi, but I suppose it makes sense that these things will be built on Liquid. I know that Simplicity is Blockstream's proposal for an improved script language for Bitcoin and I believe it is supported on Liquid, so perhaps it is interesting to see what Simplicity can do.

Here's how anchor describes itself:

Immutable, permissionless constant-product AMM for Liquid.

anchor uses Simplicity contracts to enforce AMM rules directly on-chain. Pools are covenant-controlled UTXOs with no admin key, no upgrade path, and no off-chain coordinator.

Anyone can deploy a pool between two Liquid assets, provide liquidity, and earn swap fees proportional to their share of the pool.

They are careful to note that it is in early development, so if you plan on experimenting with it, you should probably not use money you aren't willing to lose.