Two stablecoins should be the easiest thing to LP.
On a concentrated-liquidity pool it's the opposite: pick a tight range and keep re-centering, or go wide and earn almost nothing.
Stable Hooks: stableswap pools on Uniswap v4. Deposit once, no ranges, ever.
Revert Swap is live π
Get quotes from @0xProject, @KyberNetwork and @Uniswap at the same time. Revert compares them and automatically picks the route that gives you the most tokens.
β 8 networks
β No Revert fee
β Direct router execution
β Slippage, gas & price impact controls
β More aggregators coming soon
Swap without leaving the interface where you already track and manage your LP positions.
See the routes compete in real time.
Same trade, multiple aggregators, different results.
Revert compares them by what actually lands in your wallet and picks the best one automatically or lets you pick a preferred route.
β https://t.co/82MuEN3pSc
let me reiterate that those with earned experience in the crypto markets will dominate the next period of financial history
the crypto cohort was trained on a market with zero fundamentals
pure animal spirits
in a world where everything is speculative, everything is on an exponential, there are no fundamentals, TAMs are infinite, capital is not only abundant but excessive
those forged in the fires of invented internet currencies will win
Coinbase Tokenized Stocks are live on @base.
Day-one liquidity is launching on Aerodrome.
Available to persons in eligible jurisdictions outside of the U.S.
Coinbase Tokenized Stocks are live on @base.
Day-one liquidity is launching on Aerodrome.
Available to persons in eligible jurisdictions outside of the U.S.
Ekubo is now live on Revert.
Discover pools, create positions, track PnL and fee APR, add/remove liquidity, collect or compound fees, and move rangesβall in one place.
Built for @EkuboProtocol on Ethereum.
Explore β https://t.co/lBs6nVX2nm
Full announcement β https://t.co/pZZoG93X7e
Every current @AerodromeFi factory is now supported on Revert βοΈ
Track, manage, and analyze all your Aerodrome liquidity positions in one place.
Check it out β https://t.co/B0KPseSPqj π«π«π«
1/ Right now on Ethereum Uniswap v3 WETH/USDT 0.01%, less than half the liquidity in the pool is in range. Only in-range liquidity earns swap fees.
The pool's fee APR reads 15.61%. The liquidity actually earning those fees is on 32.25%.
Revert Discover now shows you both.
Some decent stock LP farms on Robinhood Chain right now
βΊ SPY/QQQ: 56% rewards APR, the most stable pair
βΊ SPY/COST: 125%, best overall balance
βΊ SPY/TSM: 211%, more aggressive
Rates can change quickly, and so can the Uniswap rewards.
Big fan of @Uniswap, but AMMs are going to zero.
At XTX Markets, I traded 4% of all US Equities volume on any given day. None of it ever went through an AMM and none of it ever will.
1. Making markets via AMMs is like being a plastic bag drifting in the wind (to quote Katy Perry). If you're a market maker, you want to be able to actively place and cancel orders across thousands of assets at different depths in the book. Doing this via an AMM is nearly impossible. Instead, you put up liquidity in a range and then acquire impermanent loss while getting picked off by takers.
2. It's more expensive and imprecise to manage liquidity on AMMs than in a traditional exchange. You have to model network congestion and then pay gas and protocol fees. Meanwhile, in traditional exchanges you have a co-located FPGA where you can easily measure p90, p99 latencies. Fewer uncontrolled variables.
3. "AMMs lower the barrier to making markets, opening the space up to many new participants." First, not everyone should be making markets. Retail participants should not be making markets. The worst thing for retail to be doing is trading against other retail. You want to trade against people who have different time horizons. For example, market maker (seconds time horizon) vs. retail (years time horizon).
4. AMMs do not segregate order flow properly. Wintermute should not be getting the same pricing as Joe in Minnesota. Retail spreads should be tighter.
5. Retail has been sold a lie on high APRs they get by "making markets" via AMMs. "452% on CASHCAT" is a great headline, but in reality the typical retail investor has no understanding of how an AMMs works. Try explaining what an AMM is to a normal person. This complexity is why AMMs will never take off for general retail outside of crypto degens.
AMMs have their place: "where most assets couldn't get a professional market maker's attention." Or during weekends when traditional markets are close, yet this gap is closing.
All of the tokenized equity issuers are moving to a model similar to @Ondo whereby stocks are minted/redeemed through RFQ (no AMMs). Now, compared to traditional markets even RFQ looks antiquated. We will soon see more dark pools and SDPs which stream quotes direct.
That is the future I see.
Of course market makers will complain they can't do what makes them $ on an AMM.
AMMs are not a product for market makers. Period.
This is probably the biggest mistake capital R Researchers are making, which is to apply spot market making concepts to Uniswap LPs
--eg. Brian's mention that MMs cannot actively place and cancel orders across thousands of assets ***at different depths*** in an AMM.
Yes, that's the point. Not having to pay someone to update quotes every 10ms is why AMMs are better for most assets.
Of course Hayden gets it: correlated pairs are where AMMs win. LPs want both assets, and when the spread moves, mean reversion is your friend. Thereβs a reason weβre called Revert.
AMMs will win.
We went looking and found plenty: wide ranges, open a year or longer, quietly printing the whole time. Here are some of the largest ones.
USDC/WETH, 5.2 years in range on ETH $1,250 to $3,480: +$170k on $171k deposited, 19% net APR
https://t.co/1gvklky9iV
DAI/WETH, 5.2 years, range ETH $1,400 to $8,300: +$107k on $153k, 14% net
https://t.co/7iOXMzVhnC
USDC/WETH, 4.2 years, range ETH $1,000 to $3,950: +$111k on $266k, 15% net
https://t.co/s1iQyi3DdL
USDC/WBTC, 2.3 years, range BTC $35k to $140k: +$128k on $511k, 11% net
https://t.co/yHH4xbj5oa
USDC/WETH on Arbitrum, 14 months, ETH $1,930 to $3,990: +$140k on $517k, 22% net APR
https://t.co/lnqWwsg7AT
USDC/WETH, 14 months, ETH $1,845 to $3,930: +$210k on $754k, 24% net APR
https://t.co/MWAKncmfi4
Where are the markout bros? Really curious what the markouts say about +$170k over five years. Losing, presumably.
1/ Right now on Ethereum Uniswap v3 WETH/USDT 0.01%, less than half the liquidity in the pool is in range. Only in-range liquidity earns swap fees.
The pool's fee APR reads 15.61%. The liquidity actually earning those fees is on 32.25%.
Revert Discover now shows you both.