"If you are not the primary venue for an asset (which Binance is not for USDe) then you should look at the price on the primary venue. If you are only looking at your own order book, you will liquidate too aggressively"
TLDR: Pricing for pegged assets should involve both exchange level and external (via oracle) pricing.
That's one of the key design decisions we made while building @MantisSwap: oracle-adjusted pricing + custom AMM mechanics designed for pegged assets.
Pushing the price below peg gets expensive fast -> harder to cause depegging -> LPs lose less money.
Hyperliquid
What a time to be going live with what js probably the most unique points program on HyperEVM for @MantisSwap
NFT communities already onboard:
✅ @PiPonHL
✅ @baldbrothers_
✅ @tinyhypercats
✅ @ADHD_HL
And now Hypurr holders will also be included.
Hypurrliquid
Hyperliquid will house most of if not all of finance. Stablecoins and related infra would be the backbone of supporting the whole ecosystem.
Really excited to be building around this. Mainnet soon!!
Hyperliquid
If you’re building a DEX on HyperEVM then you probably know that arbitrage (Hypercore <> HyperEVM) is majority of orderflow.
Liquidity depth matters only to the level of supporting median swap sizes with min price impact. Any liquidity beyond essential is additional liability that needs to be incentivised.
The name of the game here is efficiency. And for that you need an AMM mechanics to:
- Provide minimal slippage to traders (or HL arbers)
- Allow LPs to earn same amount of fees with less capital
- Protect LPs from principal losses
Target is not 100M TVL but to process 100M swap volume with much less TVL.
Not everyone will get it. Not everyone will get in.
Mantis is almost ready to fly!!