What's the cost of Market Making to Liquidity Providers (LPs)? In a new paper with @ciamac @Tim_Roughgarden @AnthonyLeeZhang we propose a quantitative and rigorous answer: LVR ("loss versus rebalancing," pronounced "lever"): moallemi.com/ciamac/paper

Dan Robinson @danrobinson · Sep 7, 2022

This thread also has a good explanation of their paper:

Tweet Aug 13, 2022

by Jason Milionis

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