One Studio project will produce one “.jar” file. This JAR file can be deployed on both servers, which means that document types, operation chains, listeners, etc. will all be available and active on both servers. But this leads to some limitations:

• If you choose to deploy the same Studio project on both servers, you will have to limit what you customize: mostly Theme, as deploying a DM theme on DAM would break things.
• Document types might not be visible in DAM out-of-the-box, maybe some query models have to be modified.