atiselsts.eth @atiselsts_eth Twitter profile

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atiselsts.eth

@atiselsts_eth

1 year

Interested in mastering LP in Uniswap v3? I'm writing a series of articles on this topic. Here's the first one: Thanks to @UniswapFND for the support!

Liquidity Provider Strategies for Uniswap v3: An Introduction

This is the first article in a series on Uniswap v3 liquidity provision (LP) strategies. The goal of the series is to help readers better…

link.medium.com

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atiselsts.eth

@atiselsts_eth

4 months

DEX research paper review: Non-Atomic Arbitrage in Decentralized Finance by @liobaheimbach and others. This is a paper about how does CEX/DEX arbitrage look on the blockchain, how to identify it, and who exactly controls it.

Non-Atomic Arbitrage in Decentralized Finance

The prevalence of maximal extractable value (MEV) in the Ethereum ecosystem has led to a characterization of the latter as a dark forest. Studies of MEV have thus far largely been restricted to...

arxiv.org

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atiselsts.eth

@atiselsts_eth

11 months

Next Uniswap LP strategy article coming the next week!

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atiselsts.eth

@atiselsts_eth

6 months

Excellent in-depth explanation how the Uniswap swap() function works:

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atiselsts.eth

@atiselsts_eth

3 months

Just published new Uniswap research: "Is v2 still a good deal for liquidity providers? A retrospective of 2023" Link below!

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atiselsts.eth

@atiselsts_eth

5 months

Panoptic protocol comments are really something else

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atiselsts.eth

@atiselsts_eth

8 days

I have a new article out, on CEX/DEX arbitrage mechanics and the implications for Uniswap LPs! Link in comments --->

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atiselsts.eth

@atiselsts_eth

7 months

#Uniswap research paper alert 🚨 Thorough mathematical modelling and analysis of Uniswap v3, by M. Echenim et al Might be the best effort so far to analytically express the LP fee expectation:

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atiselsts.eth

@atiselsts_eth

8 months

"Liquidity Provider Strategies for Unıswap: Liquidity Rebalancing" is now published. TL;DR: "Active" liquidity provisioning is not always the best approach.

Liquidity Provider Strategies for Uniswap: Liquidity Rebalancing

This article describes liquidity rebalancing and it’s effects on the principal capital. It’s part of a series.

atise.medium.com

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atiselsts.eth

@atiselsts_eth

2 months

Lots of respect to @SmileeFinance for putting this complex math on-chain! The Gaussians are computed using solstat library from @PrimitiveFi , if someone's wondering.

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atiselsts.eth

@atiselsts_eth

5 months

Unıswap v4 is going to lead to a Cambrian explosion in the AMM design space.

How we should imagine Uniswap v4 to be?

Many articles have been written about Uniswap v4 and how it will revolutionize the DeFi space, but only a few have been written to guide…

a51-fi.medium.com

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atiselsts.eth

@atiselsts_eth

5 months

🚨 Uniswap research paper alert! Adaptive Liquidity Provision in Uniswap V3 with Deep Reinforcement Learning by Haochen Zhang, Xi Chen, Lin F. Yang 1/n: review thread

Adaptive Liquidity Provision in Uniswap V3 with Deep Reinforcement Learning

Decentralized exchanges (DEXs) are a cornerstone of decentralized finance (DeFi), allowing users to trade cryptocurrencies without the need for third-party authorization. Investors are...

arxiv.org

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atiselsts.eth

@atiselsts_eth

8 months

1/12 I learned a lot writing the Unıswap LP strategies articles! Thanks to @UniswapFND for supporting me to work on something I wanted to work on anyway! Summary🧵on the main lessons.

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atiselsts.eth

@atiselsts_eth

7 months

The Uniswap trading hours hook is not a joke (well — not just a joke!) LP returns might be improved by only allowing to using their liquidity in the periods with best fee income.

ck.eth (-π, π)

@CK_2049

7 months

@UniswapFND Currently, most fees in v3 are generated in US NYSE hours, if international stocks/assets are brought on chain, then with a v4 hook I can move the capital 4 times in a day from New York, to Tokyo, to New Delhi, to London with the same $100. Time-based efficiency.

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atiselsts.eth

@atiselsts_eth

11 months

GM! Here's a new article in the Uniswap LP series.

Liquidity Provider Strategies for Uniswap v3: Loss Versus Rebalancing (LVR)

This installment in the series discusses the concept of loss versus rebalancing (LVR), assumptions behind it and some ways how to mitigate…

atise.medium.com

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atiselsts.eth

@atiselsts_eth

1 month

Aave has passed a proposal to whitelist free flash loans for select actors. The thing is, Uniswap v4 will offer free flash loans for *all* users, from its singleton pool. Fees are going to zero.

GitHub - jtriley-eth/uni-v4-core-flashloans: Simple Uniswap V4 Flashloan Receiver

Simple Uniswap V4 Flashloan Receiver. Contribute to jtriley-eth/uni-v4-core-flashloans development by creating an account on GitHub.

github.com

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atiselsts.eth

@atiselsts_eth

11 months

I just published Liquidity Provider Strategies for Uniswap v3: Dynamic Hedging

Liquidity Provider Strategies for Uniswap v3: Dynamic Hedging

This installment in the series focuses on dynamic re-hedging as a way how to beat divergence loss (impermanent loss).

atise.medium.com

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atiselsts.eth

@atiselsts_eth

2 months

Hear me out: AMM with a hat

ℵᵥ

@alpeh_v

2 months

you've heard of am-AMM but next week I'm releasing my new paper on amm-am-AMM-AMMs

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atiselsts.eth

@atiselsts_eth

1 year

1/9 InfinityPools ( @InfPools ) is a new DeFi protocol that allows leverage trading with no oracles and no risk of liquidations. How is this possible? Where do the payoffs for the leverage traders come from, and who is their counterparty? A 🧵.

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atiselsts.eth

@atiselsts_eth

4 months

New article on dynamic fees in AMMs: Joint work with @BrokkrFinance

Dynamic Fees for Automated Market Makers: Liquidity, Volatility, and Collected Fees

This work is part of a collaboration with Brokkr Finance, who are developing proof-of-concept Uniswap v4 hooks, including a dynamic fee…

atise.medium.com

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atiselsts.eth

@atiselsts_eth

4 months

My income from web3 consulting and grants: 2021: ~$200 2022: ~$2000 2023: ~$20,000 2024: ? So far it's not that much, but that was with only spending few hours per week on all this. Next year will bring changes.

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atiselsts.eth

@atiselsts_eth

7 months

"passive LPs will never be profitable" Meanwhile:

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atiselsts.eth

@atiselsts_eth

10 months

Here's the next article in my Uniswap LP series, on power perpetuals:

Liquidity Provider Strategies for Uniswap v3: Power Perpetuals

This article in the series introduces the concept of power perpetuals, and shows how they can help to hedge your liquidity pool positions.

atise.medium.com

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atiselsts.eth

@atiselsts_eth

4 months

Someone fat-fingered buying UNI for 2 million USDT, at $20 price, via v3 limit order in the USDT/UNI pool. The previous price likely was incorrect due to no liquidity in the pool. The lucky validator got 566 ETH Christmas gift.

Ethereum Transaction Hash (Txhash) Details | Etherscan

Ethereum (ETH) detailed transaction info for txhash 0x75d0f64da74ac80f77ed48b823cefd821fba73be78a18e8f1ab9b7097808e023. The transaction status, block confirmation, gas fee, Ether (ETH), and token...

etherscan.io

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atiselsts.eth

@atiselsts_eth

9 months

New entry in the Uniswap LP series is out:

Liquidity Provider Strategies for Uniswap v3: Options

This article in the series discusses how Uniswap position are similar/dissimilar to trading options.

atise.medium.com

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atiselsts.eth

@atiselsts_eth

6 months

There's a good reason not to LP in the current market: you don't want to miss the upside from large price moves! Many protocols offer delta-neutral farming, but what most users actually want is positive delta combined with neutral gamma. Asset exposure & intuitive payoff curve.

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atiselsts.eth

@atiselsts_eth

7 months

1/4 What is impermanent loss, really? It's the reason why LPs lose against holders when the price moves, most would say. But there's more. If holding the asset has zero EV under geometric Brownian motion, the value of a LP's principal itself is expected to go down with time τ!

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atiselsts.eth

@atiselsts_eth

7 months

1/n The LP Profitability Problem on @thebellcurvepod My (editorialized) notes below.

Bell Curve

@thebellcurvepod

7 months

Why is LVR important? In this week's episode @danrobinson , @0x94305 , and @jason_of_cs weighed in on why LVR is critical for the future of DeFi.

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atiselsts.eth

@atiselsts_eth

10 months

I have a draft of the 5th article in this series, anyone willing to give feedback before publication? DM me for a link to the draft.

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atiselsts.eth

@atiselsts_eth

7 months

My math explainer "Liquidity Math in Uniswap v3" as been posted on SSRN! More than 2 years after written — thanks to @AustinAdams10 for encouragement.

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atiselsts.eth

@atiselsts_eth

3 months

Finished data analysis for an article on how Uniswap v2 performed in 2023. TL;DR: v2 remains good for LPs still to this day. People seriously underestimate it. Great that the upcoming Uni v4 opens up potential for a "v2-like" mode + hooks.

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atiselsts.eth

@atiselsts_eth

28 days

Uniswap history ELI5 story: It's a fun sideproject I did over the Easter holidays.

Uniswap History ELI5: Tale of the Forest Villages

This is a lighthearted and nontechnical version of the Uniswap protocol’s history.

atise.medium.com

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atiselsts.eth

@atiselsts_eth

2 months

My take on Uniswap's fee-sharing plans: - probably we should do it! - however, in v3 only for now - and LPs get more representation in the DAO Link to the full article in the next tweet:

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atiselsts.eth

@atiselsts_eth

15 days

Since last week Uniswap is charging 0.25% for the UI LPs, do you still think that choosing 0.05% on a volatile pairs gets you a fair price for your liquidity? 🤔

Doug Colkitt

@0xdoug

7 months

I don't think there's anything wrong with Uni charging 0.15% for a frontend (high quality, reliable frontends are not cheap or easy). But can we admit that if app alone is worth 15 bps, 5 bps pools were a mistake? (Especially when its the default on most pairs)

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atiselsts.eth

@atiselsts_eth

2 months

Calling it "LVR" is a bit like calling the difference between a real car's engine's efficiency and the theoretical physical limit "loss versus perpetual motion"

ℳiLLiΞ X

@llamaonthebrink

2 months

In other words, there is a cost to running a rebalancing strategy which may be impractical, inaccessible, or an otherwise undesirable energy sink for potential LPs. Given that that cost also affects the bottom line of active LPs, it should be factored into the formula for LVR.

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atiselsts.eth

@atiselsts_eth

2 months

Important new work on AMMs: I love how readable the paper is!

Dan Robinson

@danrobinson

2 months

Introducing the auction-managed AMM! A new AMM design that: ⚖️ Reduces LVR ⚙️ Optimizes swap fees 📈 Smooths LP returns 🌊 Should attract higher liquidity than any fixed-fee AMM New paper with @ciamac ( @paradigm / @Columbia_Biz ) and @AustinAdams10 @saraareynolds ( @Uniswap )

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atiselsts.eth

@atiselsts_eth

6 months

As usual, great research from Gauntlet: What stood out to me is the ability to model hypothetical changes in DEX swap fees. E.g. 10% increase in the swap fee reduces Uni v3 volume by less than 10%. Good news for LVR solutions that rely on dynamic fees!

Gauntlet

@gauntlet_xyz

6 months

Curious about what drives execution quality on DEXs? Check out our new research for @UniswapFND , including the results of our slippage simulation analysis! This article covers pricing on Uniswap and other DEXs, the effect of fees, and details on UniswapX

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atiselsts.eth

@atiselsts_eth

6 months

How comes that — still to this day — the best (IMO) published empirical research on Uniswap isn't in some academic paper, or in a Uni Fnd grant, but in Medium blogposts from 0xfbi... Too bad they got banned from Twitter and posting on this.

CrocSwap – Medium

Read writing from CrocSwap on Medium. Every day, CrocSwap and thousands of other voices read, write, and share important stories on Medium.

crocswap.medium.com

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atiselsts.eth

@atiselsts_eth

3 months

In the last few years we have learned A LOT about how to make AMMs better for everyone: both traders and LPs. Someone should really take that knowledge, distill the essence, and a make a perfect rollup designed specifically for DeFi trading, with an enshrined AMM at the core.

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atiselsts.eth

@atiselsts_eth

9 months

Opinion: the LVR (loss versus rebalancing) metric is unnecessary difficult for LPs to accept & understand because it's misnamed. It would be better called "maximal arbitrage extractable profits".

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atiselsts.eth

@atiselsts_eth

5 months

Uniswap v4 can be a better version of v2! With the recent changes in the v4 core contracts, the v3 swap math can be bypassed, and custom bonding curve used instead. This includes the good old `xy=k` curve. So: v2, but with v4 UI and integrations.

hayden.eth 🦄

@haydenzadams

5 months

@josephdelong I gave up on this a while ago lol Numbers show it’s fee on transfer tokens + some tools for things like liquidity locking and staking rewards that only support v2 New goal: make v4 full range better than v2

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atiselsts.eth

@atiselsts_eth

7 months

I have updated my LVR article, there was a small problem in the simulations, doesn't change the results much: Here's the updated LVR recapture graph. With 1.0% swap fee and full-range LP position, LVR is almost completely recaptured via swap fees.

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atiselsts.eth

@atiselsts_eth

5 months

@BlockSecTeam @KyberSwap Kyber Elastic previous version already had a bug reported related also double-counted liquidity. This sounds very similar. @1_00_proof

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atiselsts.eth

@atiselsts_eth

2 months

a16z will support the UNI fee sharing proposal:

[Temperature Check] - Activate Uniswap Protocol Governance

Thanks to @erek637, Devin, and the team at the Uniswap Foundation for all their hard work prior to this proposal. We think that incentivizing a more active set of governance participants is one of...

gov.uniswap.org

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atiselsts.eth

@atiselsts_eth

1 year

As a DEX liquidity provider, is volatility your friend or your enemy? @Uniswap Volatility is the power that moves your LP ship forward.

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atiselsts.eth

@atiselsts_eth

8 months

Have updated my Uniswap LP options article with a link to , which has algorithm for finding options to buy. Overall good paper, although the notation is nontraditional.

Delta Hedging Liquidity Positions on Automated Market Makers

Liquidity Providers on Automated Market Makers generate millions of USD in transaction fees daily. However, the net value of a Liquidity Position is vulnerable to price changes in the underlying...

arxiv.org

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atiselsts.eth

@atiselsts_eth

2 months

I see people rushing to delegate their $UNI! FWIW, I'm an active delegate and have 100% participation rate in the DAO since last summer. My platform:

StableLab

@StableLab

3 months

UPDATE: We're happy to share that over the past 3 mo. ALL delegated delegates at @Uniswap DAO (as part of the prev. passed initiative) have an outstanding 100% voting participation rate. 💯 We believe this proves that accountability and rewarding responsible delegates leads to…

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atiselsts.eth

@atiselsts_eth

3 months

DeFi research paper review: The Impact of Market Conditions and Fee Algorithms on the Design of a Competitive AMM, by Algebra Protocol

Algebra DEX Engine V4

@CryptoAlgebra

3 months

📊 Delving deep into the world of liquidity provision! Algebra's latest research analyzes the LPs profitability in the AMM landscape, considering market conditions, blockchain unique features & fee structures. 💰 Explore innovative fee management approaches, including a dynamic…

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atiselsts.eth

@atiselsts_eth

9 months

Pretty helpful article on Uniswap integration for Solidity devs, with focus on v2:

AMM (Automatic Market Makers) Integration Tips

We’re continuing our series of educational articles and today we’re going to look at how to securely integrate AMM into your project!

blog.pessimistic.io

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atiselsts.eth

@atiselsts_eth

9 months

This graph cannot possibly be right. From:

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atiselsts.eth

@atiselsts_eth

10 months

trying to calculate v3 pool's value function:

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atiselsts.eth

@atiselsts_eth

25 days

A51 is a Uniswap automation project that allows LPs to define, execute, and share custom liquidity management strategies: I've been advising them for a while. Now their app is live on Arbitrum, try it out!

A51 Finance 🪨🥅

@A51_Fi

2 months

Is your liquidity at risk? We know it’s a volatile market and the fear of losing your funds due to impermanent loss is constant. Although the IL cannot be ‘solved’, it can be minimized. Be it market-specific or AMM-specific. Wondering what’s the difference? Check:…

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atiselsts.eth

@atiselsts_eth

8 days

Anatomy of CEX/DEX Arbitrage

This article looks at the mechanics of CEX/DEX arbitrage trading, focusing on the AMM side of the execution, and aims to demonstrate the…

atise.medium.com

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atiselsts.eth

@atiselsts_eth

6 months

F for all LPs left out of range😅

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atiselsts.eth

@atiselsts_eth

6 months

Reducing block times of Eth would barely change LP profitability while decreasing decentralization. The median number of trades per block in the 0.05% pool is zero. (Just 48% of blocks have some trades; in 0.3% pool just 3.5% do) 2x shorter block times -> ~2x more empty blocks.

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atiselsts.eth

@atiselsts_eth

1 year

Protocols mentioned: @Panoptic_xyz @SmileeFinance @InfPools @numoen @ajnafi @GammaSwapLabs @ArrakisFinance @opyn_ LP expert CT accounts: @WinterSoldierxz @DeFi_Cheetah @0xDevinG @BarryFried1 @AustinAdams10

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atiselsts.eth

@atiselsts_eth

8 months

At this point Ethereum competitors need not just better, but 10x better technology to become the new #1 . I don't see anything that exists right now and has that 10x tech factor.

Justin Bons

@Justin_Bons

8 months

When I confronted BTC maximalists about ETH in 2015 They dismissed it out of hand because of centralization & low usage Which is exactly how ETH maxis dismisses all of their competitors right now! Blinding them to the future until it is too late, dulling their competitive edge

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atiselsts.eth

@atiselsts_eth

7 months

LVR is misnamed, but a good metric since it hits right at the heart of the DEX/CEX rivalry. If DEX LPs see that their EV is negative, they leave or don't show up. Once they leave, liquidity dries up, trade execution gets bad, so traders leave too, and go to a CEX. Bad for DeFi.

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atiselsts.eth

@atiselsts_eth

6 months

Unıswap puzzle #1 Uni v2 swaps should cost less gas, because the v3 swapping algorithm is more complex. Or not? When v2 and v3 swaps are sorted by gas cost, the result is the picture below. For simple swaps, v2 typically uses ~40k MORE gas. Can you guess why? 1/2

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atiselsts.eth

@atiselsts_eth

9 months

1/n I'm working on the next @Uniswap LP article - about position rebalancing. Let's a make this interactive! Here's a series of quizzes to test yourself.

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atiselsts.eth

@atiselsts_eth

8 months

Infinity Pools public beta has launched! It's a fascinating protocol, and was covered in one of my first tweets on this X account:

atiselsts.eth

@atiselsts_eth

1 year

1/9 InfinityPools ( @InfPools ) is a new DeFi protocol that allows leverage trading with no oracles and no risk of liquidations. How is this possible? Where do the payoffs for the leverage traders come from, and who is their counterparty? A 🧵.

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atiselsts.eth

@atiselsts_eth

2 months

YLDR ( @yldrcom ) is a protocol that offers to leverage Unıswap v3 positions and use them as collateral. Here's my article on how LPs can benefit from it:

Leveraging and Borrowing Strategies for Uniswap LPs Using YLDR

YLDR is an Aave fork that allows to leverage Uniswap v3 positions and to borrow against them. This article looks at the implications for…

atise.medium.com

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atiselsts.eth

@atiselsts_eth

5 months

Snapshot voting has launched for additional UNI delegation to underrepresented candidates, including yours truly: Please vote (for someone) to help the DAO to decentralize! Here's my platform:

Atiselsts.eth Delegate Platform

Contact & Delegation Address Information Delegate address: 0xAac35d953Ef23aE2E61a866ab93deA6eC0050bcD Delegate ENS address: atiselsts.eth Twitter: atiselsts_eth (DMs open!) My voting activity:...

gov.uniswap.org

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atiselsts.eth

@atiselsts_eth

4 months

Panoptic protocol is in public beta. But if Uni v3 LPing is already similar to selling options, why do we need @Panoptic_xyz at all?🤔 Main reasons: • LPs: earn additional fees if their liquidity is utilized • sellers: undercollateralized selling • buyers: buying N/A on Uni

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atiselsts.eth

@atiselsts_eth

3 months

The Uniswap DAO is discussing a new incentive package for Uniswap on new chains. Take a look and have your say!

Uniswap Revitalization and Growth

Someone recently asked me what I would do to significantly improve the state of Uniswap if I had unlimited resources. Firstly, we need to set a clear objective: increase Uniswap’s market share. How...

gov.uniswap.org

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atiselsts.eth

@atiselsts_eth

2 months

L2s are just better for DeFi, that's now scientifically proven fact!😀

Uniswap Labs 🦄

@Uniswap

2 months

New research from @AustinAdams10 shows L2s aren’t just good for gas savings Compared to Ethereum, the data shows that on L2s: ✅ 97.5% of swappers get better pricing ✅ LPs see ~20% larger arbitrage returns ✅ Low gas leads to more capital efficiency

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atiselsts.eth

@atiselsts_eth

7 months

I like DeFi because I think traditional finance is fundamentally bad / broken in some ways. Web2 social networks - probably too. But I don't think monetary policy is as broken, so I don't especially like Bitcoin. Games also are just fine, so I doubt need for blockchain gaming.

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atiselsts.eth

@atiselsts_eth

9 months

An underappreciated feature of @Uniswap v3 concentrated liquidity is that is makes sandwich attacks less likely, due to deeper virtual liquidity. In Uni v2 USDC/ETH pool, the share of sandwich volume is >4%. The v3 0.3% pool has almost none! The TVL is just 1.6x higher in v3.

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atiselsts.eth

@atiselsts_eth

5 months

Honestly I'm embarrassed by the CT takes on AI. Our industry at least nominally stands for decentralization and improving upon the existing web2 business models. Maybe it shouldn't be so keen to support Altman just because he's powerful, efficient & good at attracting funding.

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atiselsts.eth

@atiselsts_eth

7 months

I voted for funding the @UniswapFND . They're doing a good job!

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atiselsts.eth

@atiselsts_eth

11 months

Uniswap v4 impressions🧵 Whitepaper: The new version is bullish for: - protocols building on top of @Uniswap ; - auditors. It's bearish for: - other DEXes, on the condition that the hooks work as well as envisioned.

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atiselsts.eth

@atiselsts_eth

1 month

L1 calldata costs used to dominate L2 gas fees. Now L2 execution costs dominate. Path to scaling: -> run a fast execution client on Eth L2 nodes -> set gas target n-times higher than on mainnet -> increase L2 throughput n-times Reth comes into play now.

ism.eth

@ufukaltinok

1 month

One key difference between firedancer and reth is due to Ethereum having L2 landscape. FD cannot bring performance improvements to Solana because whole network will need to run at the slowest client’s speed. However reth can and will bring performance improvements to Ethereum…

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atiselsts.eth

@atiselsts_eth

2 months

Did you know? The function `mulDiv` in Uniswap's FullMath library allows to multiply two 256-bit numbers without overflowing, as long as the result, after division, fits in 256 bits again!

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atiselsts.eth

@atiselsts_eth

4 months

For what it's worth, DEX trading UX on Ethereum has got much better in the last couple of years. (It used to be pretty bad TBH, but the technical progress is impressive and underappreciated 😊) 1/4

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atiselsts.eth

@atiselsts_eth

1 year

I am applying to the @Uniswap delegate race 🦄:

Uniswap Foundation

@UniswapFND

1 year

@atiselsts_eth

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atiselsts.eth

@atiselsts_eth

9 months

Uni v3 LP profitability discussion igniting again. Some talk about profitability vs the proverbial Citadel. Some talk about profitability vs hold. The result - talking past each another

hayden.eth 🦄

@haydenzadams

1 year

AMMs DO: - greatly lower the barrier to creating + participating in liquidity pools - provide strong guarantees around transparency, access and solvency AMMs DONT - allow your grandma to outperform Citadel on top volatile pairs - provide risk free investment vehicles for retail

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atiselsts.eth

@atiselsts_eth

7 days

I've been bookmark ratio'ed on the CEX/DEX article post, so a 2-sentence summary: Changing Ethereum's block time alone won't have much impact on LPs earnings. Because shorter blocks -> more arb transactions -> higher share of LVR goes to burnt basefees.

atiselsts.eth

@atiselsts_eth

8 days

I have a new article out, on CEX/DEX arbitrage mechanics and the implications for Uniswap LPs! Link in comments --->

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atiselsts.eth

@atiselsts_eth

8 months

Jason Millionis at Unıswap Research hour: "My view with LVR is that it accounts for worst case orderflow toxicity". Also says higher LVR doesn't mean the LP is strictly worse off: might be compensated with higher fees. Similar to:

Uniswap Labs

www.youtube.com

atiselsts.eth

@atiselsts_eth

9 months

Opinion: the LVR (loss versus rebalancing) metric is unnecessary difficult for LPs to accept & understand because it's misnamed. It would be better called "maximal arbitrage extractable profits".

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atiselsts.eth

@atiselsts_eth

3 months

Even Uniswap V2 pools that no-one uses for real trading are good for LPs 😀 Selected a random pool (WBTC/USDC) Analysis shows 25% profit in a day😅 Turns out an exploiter "donated" some funds as part of an attack:

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atiselsts.eth

@atiselsts_eth

6 months

Uni appchain is an idea very much worth considering. Though would be better to wait for L2 stacks to & reduce trust assumptions. LVR mitigation is hard in general-purpose chains, but gets much much easier in a chain specifically designed for trading.

Token Terminal

@tokenterminal

6 months

Uniswap paid more to ETH holders than its LPs over the past year

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atiselsts.eth

@atiselsts_eth

6 months

WYCF got the right answerr to yesterday's puzzle: Most ETH blocks have no more than one Uni v2 swaps, so the price oracle must be updated, leading to 3 storage writes in total.

🌊WYCF🦈

@wycfwycf

6 months

@atiselsts_eth Top of the block swaps must update the oracles too. So for the block with multiple swaps, other than the first one the swap would be cheaper, but this happens rarely, which leads to the result you suggested.

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atiselsts.eth

@atiselsts_eth

2 months

Paying rent really could be a better approach than paying fees. The problem with v3 LPs is that they misprice their liquidity a lot of the times (such as supplying ETH/USDT in the 0.01% pool🙄). The manager would surely be better at pricing it.

jtriley.eth

@jtriley_eth

2 months

tldr; agents bid to become the manager, which controls dynamic (capped) fees manager distributes their per-block bid to lp's regardless of profitability, incentivizing an optimal fee for retail value capture manager also gets arbs for free (minus gas) p dope

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atiselsts.eth

@atiselsts_eth

7 months

Those Uniswap KYC takes are ridiculous engagement baits. Poor guy should have named his v4 hook something like "external whitelist check hook" and there would be no drama.

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atiselsts.eth

@atiselsts_eth

8 months

There's no one-size-fits-all profitability metric for LPs. Good to see this recognized by LP tooling devs.

revert

@revertfinance

8 months

1/ Exciting update! We've introduced "Alternative Performance Benchmarks" to your dashboard – a feature many of you have long been requesting. Let’s explore what it means.

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atiselsts.eth

@atiselsts_eth

8 months

Bad news for liquidity mining: @gauntlet_xyz did an LM study on Uniswap mainnet, with the exception of the small SYN/ETH & ILV/ETH pairs, no other pools achieved sustained increase in swap volume.

Uniswap Incentive Design Analysis

Uniswap Liquidity Mining Retro Background On July 14, Gauntlet announced a liquidity mining program on Uniswap. Over the next 2 weeks, roughly 49k UNI was distributed to liquidity providers across 8...

gov.uniswap.org

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atiselsts.eth

@atiselsts_eth

3 months

Here's an idea that almost works: poor man's Dutch auction - create a swap tx with slippage that depends on block.timestamp - initially slippage is positive, decreases with time - submit via private RPC - wait for the tx to be either dropped (no gas fee!) or successfully executed

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atiselsts.eth

@atiselsts_eth

7 months

This is my attempt to classify Uni v2 USDC/WETH swaps by receiver address. Most of the pie chart is grey - the receiver is another pool address. These are likely to be either retail or internal arbs. It looks very likely there's enough non-toxic flow for Uni v2 LPs make profit.

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atiselsts.eth

@atiselsts_eth

7 months

Unıswap🦄 research paper alert: Mathematics of Constant Product Automated Market Makers by B. Pennington @PanteraCapital Includes formulas for position value, IL and E[IL], Greeks for v2 and v3, and replicating option portfolio for v2.

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atiselsts.eth

@atiselsts_eth

13 days

Is there any work on AMM designs for parallelized execution chains? Either research or engineering? I imagine that AMMs are particularly hard to parallelize, since each AMM transaction touches the same state, and is not path-independent.

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atiselsts.eth

@atiselsts_eth

1 month

Division in Solidity always rounds towards zero, even for negative numbers. Sometimes you'd want to round down instead. @revertfinance 's code shows a nice trick for that. One-liner to find the lower tick from `tick` and `tickSpacing`:

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atiselsts.eth

@atiselsts_eth

9 months

Let's return to the Uniswap liquidity position rebalancing quiz. Rebalancing here means relocating the liquidity to a different range, likely by removing, swapping, and re-adding the assets.

atiselsts.eth

@atiselsts_eth

9 months

1/n I'm working on the next @Uniswap LP article - about position rebalancing. Let's a make this interactive! Here's a series of quizzes to test yourself.

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atiselsts.eth

@atiselsts_eth

2 months

Power perpetuals are very cool idea, we should use them more! I'll share some of my own work on them. 1/5

(Joe Clark)²

@alpinechicken

2 months

New paper from @opyn_ x @paradigm with @andrewjleone and @danrobinson arguing that *everything* is a power perpetual. What do we mean by "everything"? - Stablecoins ( @MakerDAO ) – power 0 perpetual - Margined perpetuals ( @dYdX ) – power 1 - Spot…

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atiselsts.eth

@atiselsts_eth

4 days

Anyone want to give feedback on a blog article draft / potentially series of articles, DM me. Not something AMM related. I'm putting together some notes from learning about memory in Solidity. More aimed at the beginner-to-intermediate level, or experienced non-crypto devs.

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atiselsts.eth

@atiselsts_eth

24 days

Legibility, free access to data, and the relative ease to analyze has been one of largest selling points of blockchains for me (and many others). Asking to rely on gated analytics platforms is not a solution

Noah Zinsmeister

@NoahZinsmeister

26 days

@jtriley_eth if an analytics platform is having trouble reconstructing state that's designed to be globally replicated across 10s of thousands of nodes then uhhh maybe there's a deeper problem?

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atiselsts.eth

@atiselsts_eth

6 months

The market is learning how to properly price IL under concentrated liquidity. There's a lot of liq. mining on Arbitrum happening now. This is the stETH/ARB pool on Camelot. Not super concentrated at all. A lot of ARB is sold high, at the price of 1 to 10 EUR - good for them!

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atiselsts.eth

@atiselsts_eth

1 month

Unistaker (UNI token staking contract) audit is now finished, low-severity findings only. Nice payoff for the wardens with high-rated QA reports!

atiselsts.eth

@atiselsts_eth

1 month

The UNI token staking contract code on @Code4rena has created a fair bit of drama! Submissions went through appeals process in a "supreme court". Rumor has it that results are expected soon, no H or M issues found.

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atiselsts.eth

@atiselsts_eth

6 months

Good news for BigQuery users: data from Arbitrum, Optimism, Avalanche and more is now available: Personally I see this as a reason to completely ditch the subgraphs for my Uniswap analytic needs. A query for Uniswap events on Arb:

Bigquery for Uniswap v3 events on Arbitrum

Bigquery for Uniswap v3 events on Arbitrum. GitHub Gist: instantly share code, notes, and snippets.

gist.github.com

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atiselsts.eth

@atiselsts_eth

25 days

incredible, "Yes" winning by a wide margin, yet the in the discussion I see good arguments only for "No"

hayden.eth 🦄

@haydenzadams

26 days

Is it worth removing events and moving to calltraces for Uniswap v4 for 1% gas savings on all swaps?

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atiselsts.eth

@atiselsts_eth

10 months

This is very very cool new UX for @Uniswap :

Oku Trade

@okutrade

10 months

Meet Oku Trade. The Most Advanced DeFi Trading Platform, powered by Uniswap V3. Now live at

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atiselsts.eth

@atiselsts_eth

11 months

In Uniswap v4 these features will be possible via hooks: -Dynamic fees -Limit orders -TWAP Orders The first two are literally what I'd have guessed they'll add. The third one could very beneficial as well.

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