mirror of
https://github.com/autistic-symposium/mev-toolkit.git
synced 2025-07-28 08:54:26 -04:00
Merge branch 'main' of github.com:go-outside-labs/mev-toolkit
This commit is contained in:
mvonsteinkirch
commit
6aa5c0f8ce
22 changed files with 306 additions and 112 deletions
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<br>
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||||
|
||||
|
||||
* **derivatives** are financial contracts that derive their values from underlying assets. crypto futures contracts are proxy tools to speculate on the future prices of cryptocurrencies or to be used to hedge against their price changes.
|
||||
* **perpetuals** are derivative contracts with no expiration date.
|
||||
* **options** are derivatives that give the buyer the right to buy or sell the underlying asset at a stated price within a specified period.
|
||||
|
||||
<br>
|
||||
|
||||
----
|
||||
|
||||
### protocols
|
||||
|
||||
<br>
|
||||
|
||||
#### perpetual swap
|
||||
|
||||
|
||||
* trading product first introduced in 2016 by bitmex
|
||||
* has become popular with trading volumes of over $180 mi
|
||||
* offer traders a chance to take on large positions with little money down
|
||||
* like other types of derivatives such as futures and options, perpetual swaps provide a means to speculate on the value of the assets while the contract is held
|
||||
* unlike future contracts, perpetual swaps do not have expiration dates
|
||||
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
|
||||
#### [synthetix](https://synthetix.io/)
|
||||
|
||||
|
||||
|
||||
* one of ethereum's ecosystem's leading derivatives projects.
|
||||
* a derivative liquidity protocol that powers the creation of "synths" (synthetic assets) that can be traded in a decentralized and permissionless manner.
|
||||
* synths let traders capitalize on exposure to assets without having to directly own the assets in question.
|
||||
* some of Synthetix's most popular synths are its forex synths: sUDS and sEUR.
|
||||
* a foundational element of Synthetix is SNX staking, which is used for collateralizing the derivatives protocol and for creating deep liquidity for synths.
|
||||
* SNX stakers earn inflationary SNX rewards and a cut of sUSD fees generated by protocols that work on top of Synthetix.
|
||||
* [kwenta perp trading platform on synthetix](https://mirror.xyz/kwenta.eth)
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
|
||||
#### kwenta
|
||||
|
||||
* The primary DEX in the Synthetix ecosystem.
|
||||
* Designed to facilitate zero-slippage synth trading.
|
||||
* It does not rely on an orderbook or liquidity pool model, but instead the DEX employs a peer-to-contract system in which synths are traded against a smart contract informed by Chainlink price feeds.
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
|
||||
|
||||
#### lyra
|
||||
|
||||
|
||||
|
||||
* Lyra is a decentralized options trading protocol powered by a specialized AMM system.
|
||||
* It uses Synthetix's sUSD stablecoin as its exclusive quote asset, so traders pay for opening long positions or closing short positions with sUSD.
|
||||
* Lyra also uses Synthetix as a one-stop protocol for getting long and short exposure on its markets' base assets (delta hedging).
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
|
||||
|
||||
#### thales
|
||||
|
||||
|
||||
|
||||
* Decentralized binary options protocol that a group of Synthetix community members spun in 2020.
|
||||
* If held until expiry, binary options have only two payoff possibilities: a predetermined amount of profit or nothing.
|
||||
* Relies on Synthetix's sUSD stablecoin for minting its binary options tokens and as the platform's unit of account.
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
|
||||
#### [metronome](https://www.metronome.io/)
|
||||
|
||||
|
||||
|
||||
* synthetic protocol to enable users to generate a variety of synthetics using crypto assets as collateral
|
||||
* **derivatives** are financial contracts that derive their values from underlying assets.
|
||||
* **[futures](futures.md)**:
|
||||
- contracts are proxy tools to speculate on the future prices of cryptocurrencies or to be used to hedge against their price changes.
|
||||
* **[perpetuals](perpetuals.md)**:
|
||||
- derivative contracts with no expiration date.
|
||||
* **[options](options.md)**:
|
||||
- derivatives that give the buyer the right to buy or sell the underlying asset at a stated price within a specified period.
|
||||
|
||||
<br>
|
||||
|
||||
---
|
||||
|
||||
### resources
|
||||
### theory
|
||||
|
||||
<br>
|
||||
|
||||
* [bsm](bsm.md)
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
---
|
||||
|
||||
### links
|
||||
|
||||
<br>
|
||||
|
||||
* [defi derivative landscape](https://github.com/0xperp/defi-derivatives)
|
||||
* [put-call parity](https://www.investopedia.com/terms/p/putcallparity.asp#:~:text=Understanding%20Put%2DCall%20Parity,-As%20noted%20above&text=Put%2Dcall%20parity%20states%20that,to%20the%20option's%20strike%20price.)
|
||||
* [perpetual swaps, by laevitas](https://app.laevitas.ch/altsderivs/GMX/perpetualswaps)
|
||||
* [put-call parity](https://www.investopedia.com/terms/p/putcallparity.asp)
|
||||
* [spin.fi, on near](https://trade.spin.fi/)
|
||||
* [orderly, on near](https://orderly.network/)
|
||||
|
||||
|
||||
|
|
|
|||
19
MEV_and_trading/derivatives/bsm.md
Normal file
19
MEV_and_trading/derivatives/bsm.md
Normal file
|
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@ -0,0 +1,19 @@
|
|||
## black-sholes model
|
||||
|
||||
<br>
|
||||
|
||||
### tl; dr
|
||||
|
||||
<br>
|
||||
|
||||
* mathematical equations that estimates the theoretical value of derivatives based on other investiment instruments
|
||||
* widely used to price options contracts
|
||||
* requires five input variables: the strike price of an option, the current stock price, the time to expiration, the risk-free rate, and the volatility
|
||||
* it posits that these instruments will have a lognormal distribution of prices following a random walk with constant drift and volatility
|
||||
* it derives the price of a european-style call option
|
||||
* assumptions: no dividents are paid out during the life of the options, markets are random, no transaction costs in buying the option, risk-free rate and volatility of the underlying assets are known and constant, the returns of the underlying assets are normally distributed.
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
<img width="437" src="https://user-images.githubusercontent.com/1130416/219771677-36198efd-55b3-4729-b7f3-e7660a984140.png">
|
||||
3
MEV_and_trading/derivatives/futures.md
Normal file
3
MEV_and_trading/derivatives/futures.md
Normal file
|
|
@ -0,0 +1,3 @@
|
|||
## futures
|
||||
|
||||
<br>
|
||||
66
MEV_and_trading/derivatives/options.md
Normal file
66
MEV_and_trading/derivatives/options.md
Normal file
|
|
@ -0,0 +1,66 @@
|
|||
## options
|
||||
|
||||
<br>
|
||||
|
||||
### tl; dr
|
||||
|
||||
<br>
|
||||
|
||||
* options can be thought of as "insurance-like" contracts where one pays a premium upfront. profits come from "disaster events", with **capped losses** and **unlimited upsides**.
|
||||
* purchasers of options receive the **right** to buy or sell the underlying asset at a predetermined **strike price**. **option chains** list **calls** (ability to buy the asset) and **puts** (ability to sell the asset) for a given expiration across a variety of **strikes**.
|
||||
* options also gives leverage by chasing cheaper premiums (e.g. shortening expirations).
|
||||
|
||||
<br>
|
||||
|
||||
---
|
||||
|
||||
### protocols
|
||||
|
||||
<br>
|
||||
|
||||
#### [thales](https://thalesmarket.io/)
|
||||
|
||||
|
||||
|
||||
* decentralized binary options protocol that a group of Synthetix community members spun in 2020.
|
||||
* if held until expiry, binary options have only two payoff possibilities: a predetermined amount of profit or nothing.
|
||||
* relies on Synthetix's sUSD stablecoin for minting its binary options tokens and as the platform's unit of account.
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
|
||||
#### [lyra.finance](https://www.lyra.finance/)
|
||||
|
||||
* chains: arbitrum, optimism, ethereum
|
||||
* decentralized options trading protocol powered by a specialized AMM system.
|
||||
* it uses synthetix's sUSD stablecoin as its exclusive quote asset, so traders pay for opening long positions or closing short positions with sUSD.
|
||||
* uses synthetix as a one-stop protocol for getting long and short exposure on its markets' base assets (delta hedging).
|
||||
* [guide to trade on lyra](https://newsletter.banklesshq.com/p/a-guide-to-options-on-lyra)
|
||||
|
||||
<br>
|
||||
|
||||
#### [hegic](https://www.hegic.co/app#/arbitrum/trade/new)
|
||||
|
||||
* chains: arbitrum, ethereum
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
#### [siren](https://siren.xyz/)
|
||||
|
||||
* chain: polygon
|
||||
|
||||
<br>
|
||||
|
||||
#### [whiteheart](https://www.whiteheart.finance/#/swap-wrap/wrap?from=WBTC&to=WHBTC)
|
||||
|
||||
* chains: ethereum
|
||||
|
||||
<br>
|
||||
|
||||
#### [premia](https://app.premia.finance/options)
|
||||
|
||||
* chains: ethereum, arbitrum, fantom, optimism
|
||||
|
||||
<br>
|
||||
30
MEV_and_trading/derivatives/perpetuals.md
Normal file
30
MEV_and_trading/derivatives/perpetuals.md
Normal file
|
|
@ -0,0 +1,30 @@
|
|||
## perpetuals
|
||||
|
||||
<br>
|
||||
|
||||
#### [perpetual swap](https://app.laevitas.ch/altsderivs/GMX/perpetualswaps)
|
||||
|
||||
|
||||
* trading product first introduced in 2016 by bitmex
|
||||
* has become popular with trading volumes of over $180 mi
|
||||
* offer traders a chance to take on large positions with little money down
|
||||
* like other types of derivatives such as futures and options, perpetual swaps provide a means to speculate on the value of the assets while the contract is held
|
||||
* unlike future contracts, perpetual swaps do not have expiration dates
|
||||
|
||||
<br>
|
||||
|
||||
#### [synthetix](https://synthetix.io/)
|
||||
|
||||
|
||||
|
||||
* one of ethereum's ecosystem's leading derivatives projects.
|
||||
* a derivative liquidity protocol that powers the creation of "synths" (synthetic assets) that can be traded in a decentralized and permissionless manner.
|
||||
* synths let traders capitalize on exposure to assets without having to directly own the assets in question.
|
||||
* some of Synthetix's most popular synths are its forex synths: sUDS and sEUR.
|
||||
* a foundational element of Synthetix is SNX staking, which is used for collateralizing the derivatives protocol and for creating deep liquidity for synths.
|
||||
* SNX stakers earn inflationary SNX rewards and a cut of sUSD fees generated by protocols that work on top of Synthetix.
|
||||
* [kwenta perp trading platform on synthetix](https://mirror.xyz/kwenta.eth)
|
||||
* The primary DEX in the Synthetix ecosystem.
|
||||
* Designed to facilitate zero-slippage synth trading.
|
||||
* it does not rely on an orderbook or liquidity pool model, but instead the DEX employs a peer-to-contract system in which synths are traded against a smart contract informed by Chainlink price feeds.
|
||||
|
||||
|
|
@ -1,12 +1,21 @@
|
|||
## Request-for-Quote (RFQ)
|
||||
## request-for-quote (RFQ)
|
||||
|
||||
<br>
|
||||
|
||||
### tl; dr
|
||||
|
||||
<br>
|
||||
|
||||
* rfq-based exchanges work similar to central limit order books (clobs), as users submit orders using signed messages and market makers execute them on-chain (assuming the role of both lps and searchers).
|
||||
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
---
|
||||
|
||||
### resources
|
||||
### links
|
||||
|
||||
* [0xv4 RFQ order guide in python](https://gist.github.com/lampshade9909/cf16b2aa198e4df8d00702ffd7bf506a)
|
||||
<br>
|
||||
|
||||
* [hashflow](https://www.hashflow.com/)
|
||||
|
|
|
|||
|
|
@ -14,3 +14,7 @@
|
|||
---
|
||||
|
||||
### resources
|
||||
|
||||
<br>
|
||||
|
||||
* [arbitrum trading context](https://gains.trade/contest)
|
||||
|
|
|
|||
|
|
@ -42,4 +42,6 @@
|
|||
* [mev's impact on uniswap](https://eigenphi.io/report/mev-impact-on-uniswap)
|
||||
* [quantifying the cost of providing liquidity to amms, by a16z](https://a16zcrypto.com/lvr-quantifying-the-cost-of-providing-liquidity-to-automated-market-makers/)
|
||||
* [automated market making and loss-versus-balancing, by j. milionis et al](https://arxiv.org/abs/2208.06046)
|
||||
* [sushiguardrouterv01 with manifold](https://snapshot.org/#/sushigov.eth/proposal/bafkreigjjhjx2j2b526d3poeg23w2xan4rcgnzvcxinsssv7n37lu5p7s4)
|
||||
* [the value of nontoxic orderflow to the uniswap protocol, by m. holloway](https://xenophonlabs.com/papers/uniswap_valuing_orderflow.pdf)
|
||||
|
||||
|
|
|
|||
|
|
@ -38,11 +38,14 @@
|
|||
|
||||
<br>
|
||||
|
||||
|
||||
* [uniswap v3 whitepaper](https://uniswap.org/whitepaper-v3.pdf)
|
||||
* [liquidity mining on uniswap v3 by paradigm](https://www.paradigm.xyz/2021/05/liquidity-mining-on-uniswap-v3)
|
||||
* [jit liquidity, by chainsight](https://twitter.com/ChainsightLabs/status/1457958811243778052)
|
||||
* [uniswap v3 book, by jeiwan](https://github.com/Jeiwan/uniswapv3-book)
|
||||
* [jit liquidity by chainsight](https://twitter.com/ChainsightLabs/status/1457958811243778052)
|
||||
* [liquidity mining on uniswap v3, by paradigm](https://www.paradigm.xyz/2021/05/liquidity-mining-on-uniswap-v3)
|
||||
* [uniswap v3 twap oracle simulator, by euler](https://oracle.euler.finance/)
|
||||
* [conceptualizing uniswap v3 lp profit and loss](https://atise.medium.com/conceptualizing-uniswap-v3-lp-profit-and-loss-ecbae6e09644)
|
||||
* [on why lp-ing on uniswap is a losing game](https://twitter.com/thiccythot_/status/1589022227437039616)
|
||||
* [usage of markout to calculate LP profitability in uniswap v3, by crocswap](https://crocswap.medium.com/usage-of-markout-to-calculate-lp-profitability-in-uniswap-v3-e32773b1a88e)
|
||||
* [ETH USDC Retroactive Data Analysis, by flipside](https://science.flipsidecrypto.xyz/ethusdc_results/eth_usdc_analysis.html)
|
||||
* [ETH USDC retroactive data Aaalysis, by flipside](https://science.flipsidecrypto.xyz/ethusdc_results/eth_usdc_analysis.html)
|
||||
* [markouts and stat analysis in uniswap v3](https://github.com/go-outside-labs/mev-toolkit/blob/main/MEV_strategies/stat_arbs/README.md)
|
||||
|
|
|
|||
|
|
@ -1,7 +1,34 @@
|
|||
## List of whale wallets
|
||||
## whale watching
|
||||
|
||||
<br>
|
||||
|
||||
* https://zapper.fi/account/0x6555e1cc97d3cba6eaddebbcd7ca51d75771e0b8
|
||||
* https://twitter.com/ThorHartvigsen/status/1622632955939287043
|
||||
* https://debank.com/whales
|
||||
### tl; dr
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
---
|
||||
|
||||
### list of whale wallets
|
||||
|
||||
<br>
|
||||
|
||||
* [50+ whale wallets, by thorHhrtvigsen](https://twitter.com/ThorHartvigsen/status/1622632955939287043)
|
||||
* [list of whale wallets, by debank](https://debank.com/whales)
|
||||
* [smart money watchlist, by nansen](https://pro.nansen.ai/smart-money)
|
||||
* [coingator whale wallets, by go outside labs](https://github.com/go-outside-labs/searcher-coingator-rs/blob/main/data/whales.txt)
|
||||
* [token analyzoor, by mochi](https://dune.com/defimochi/token-god-mode)
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
----
|
||||
|
||||
### links
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
* [return analysis, by defi_mochi](https://twitter.com/defi_mochi/status/1616649547350151169)
|
||||
|
|
|
|||
|
|
@ -16,6 +16,8 @@
|
|||
|
||||
<br>
|
||||
|
||||
* [ERC-4337: Account Abstraction Using Alt Mempool](https://eips.ethereum.org/EIPS/eip-4337)
|
||||
* [ERC-4337: account abstraction using alt mempool](https://eips.ethereum.org/EIPS/eip-4337)
|
||||
* [account abstraction for everyone else, by cami](https://camiinthisthang.substack.com/p/account-abstraction-for-everyone)
|
||||
* [safe mirror post on aa](https://safe.mirror.xyz/9KmZjEbFkmI79s28d9xar6JWYrE50F5AHpa5CR12YGI)
|
||||
* [unpacking erc-4337, by a. chiplunkar](https://frontier.tech/unpacking-erc-4337)
|
||||
|
||||
|
|
|
|||
|
|
@ -30,13 +30,16 @@
|
|||
|
||||
<br>
|
||||
|
||||
|
||||
* [builder specs, by the ef](https://github.com/ethereum/builder-specs)
|
||||
* [flashbots builder](https://github.com/flashbots/builder)
|
||||
* [builder opens source, by flashbots](https://github.com/flashbots/builder)
|
||||
* [flashbots block building algorithm](https://writings.flashbots.net/searching-post-merge#blockbuilding-algorithm)
|
||||
* [etherscan blocks](https://etherscan.io/blocks), [mev blocks](https://etherscan.io/blocks/label/mev-block), and [mev builders](https://etherscan.io/accounts/label/mev-builder)
|
||||
* [builder69.io endpoint for searchers (bundle/tx)](https://builder0x69.io)
|
||||
* [mev-rs - gateway to a network of block builders](https://github.com/ralexstokes/mev-rs)
|
||||
* [mev order flow, the king of block builders](https://coinyuppie.com/mev-order-flow-the-king-of-block-builders/)
|
||||
* [manifold finance](https://www.manifoldfinance.com/)
|
||||
* [flashbots block building algorithm](https://writings.flashbots.net/searching-post-merge#blockbuilding-algorithm)
|
||||
* [block builder decentralization is coming, but maybe not so soon, by ballsyalchemist](https://bittokoin.substack.com/p/block-builder-decentralization-is)
|
||||
* [fat stats for builders through mev-boost](https://www.mevpanda.com/)
|
||||
* [decentralizing the builder role, by vitalik](https://hackmd.io/@vbuterin/distributed_builders#/)
|
||||
* [mev and the rise of builders, by galaxy](https://www.galaxy.com/research/whitepapers/mev-the-rise-of-the-builders/)
|
||||
* [block builder decentralization is coming, but maybe not so soon, by ballsyalchemist](https://bittokoin.substack.com/p/block-builder-decentralization-is)
|
||||
|
||||
|
|
|
|||
|
|
@ -14,6 +14,12 @@
|
|||
|
||||
<br>
|
||||
|
||||
### resources
|
||||
---
|
||||
|
||||
### links
|
||||
|
||||
<br>
|
||||
|
||||
* [projects addressing private order flows primitives](https://github.com/go-outside-labs/mev-toolkit/blob/main/MEV_searchers/private_order_flows/projects.md)
|
||||
* [diamonds are forever, lvr is not, by mcmenamin et al.](https://arxiv.org/abs/2210.10601)
|
||||
* [mev capturing amm, by josojo](https://ethresear.ch/t/mev-capturing-amm-mcamm/13336)
|
||||
|
|
|
|||
|
|
@ -19,4 +19,7 @@
|
|||
|
||||
### resources
|
||||
|
||||
<br>
|
||||
|
||||
* [first article designing suave](https://writings.flashbots.net/the-future-of-mev-is-suave)
|
||||
* [suave economic model](https://collective.flashbots.net/t/suave-economic-security-models/1070)
|
||||
|
|
|
|||
|
|
@ -7,6 +7,8 @@
|
|||
<br>
|
||||
|
||||
|
||||
* for **builders**: builders might delay before proposing a full block to maximize the amount of potential mev for inclusion in the block. this requires extremely low latency for proposing blocks and views of the mempool.
|
||||
|
||||
<br>
|
||||
|
||||
---
|
||||
|
|
|
|||
|
|
@ -2,6 +2,18 @@
|
|||
|
||||
<br>
|
||||
|
||||
### tl; dr
|
||||
|
||||
<br>
|
||||
|
||||
* searchers who have access to private and public mempools can aggregate txs and predict price movement.
|
||||
* market makers (lps) can use order flows to model information from incoming orders and readjust prices and spreads.
|
||||
* traders can use order flow sas a short-term strategy to time their trade.
|
||||
|
||||
<br>
|
||||
|
||||
----
|
||||
|
||||
### in this dir
|
||||
|
||||
<br>
|
||||
|
|
@ -25,3 +37,4 @@
|
|||
* [order flow, auctions and centralisation II: order flow auctions](https://collective.flashbots.net/t/order-flow-auctions-and-centralisation-ii-order-flow-auctions/284)
|
||||
* [order flow, auctions & centralisation, by q. kilbourn](https://www.youtube.com/watch?v=ilc3EoSMMDg)
|
||||
* [order flow auctions & enshrined builder, by apriori](https://mirror.xyz/apriori.eth/wiLKgkaN6JBwBDq4E3T_-BZ0OIPhlbIItgJdE3CFAMo)
|
||||
* [payment for order flow on tradefi, by forbes](https://www.forbes.com/advisor/investing/payment-for-order-flow/)
|
||||
|
|
|
|||
|
|
@ -13,7 +13,7 @@
|
|||
|
||||
* since **liquidity on-chain is fragmented** (thousands of pools don't communicate with each other, each providing quotes for swapping assets in real-time), it creates an opportunity to buy low and sell high across different pools. for example, two DEXes offer a token at two different prices so that a token can be bought at the lower-priced DEX and sold on the higher-priced DEX in a single atomic transaction.
|
||||
|
||||
* **non-atomic (cross-chain, CEX/DEX, etc.) arbs** are covered **[here](https://github.com/go-outside-labs/mev-toolkit/blob/main/MEV_strategies/stat_arb)**.
|
||||
* **non-atomic (cross-chain, CEX/DEX, etc.) arbs** are covered **[here](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_strategies/stat_arbs)**.
|
||||
|
||||
<br>
|
||||
|
||||
|
|
|
|||
|
|
@ -7,6 +7,7 @@
|
|||
<br>
|
||||
|
||||
* **lending protocol** work by requiring users to deposit some collateral. users can then borrow different assets and tokens from others depending on what they need, up to a certain amount of their deposited collateral. as the value of a borrower's collateral fluctuates, if the value of the borrowed assets exceeds the value of the collateral, the protocol allows anyone to liquidate the collateral (similar to margin calls in traditional finance).
|
||||
* **liquidation** happens when a user buys someone's collateral (at a discount) when the value of borrowed asset exceeds a predetermined value relative to the asset deposited as collateral.
|
||||
* **searchers compete** to parse blockchain data as fast as possible to determine which borrowers can be liquidated and be the first to submit a liquidation transaction and collect the liquidation fee.
|
||||
* **example of strategy**: bot detects a liquidation opportunity at a block and issues a liquidation tx, which is expected to be included in the next block. to compete with other liquidators, the bot sets high tx fees for their liquidation tx.
|
||||
* **another strategy**: bot observes a tx that will create a liquidation opportunity (e.g., an oracle price update tx rendering a collateralized debit to be liquidated), then backruns this tx with a liquidation tx to avoid the fee bidding competition.
|
||||
|
|
@ -22,6 +23,7 @@
|
|||
* [compound](compound.md)
|
||||
* [liquity](liquity.md)
|
||||
* [aave](aave.md)
|
||||
* [euler](euler.md)
|
||||
|
||||
<br>
|
||||
|
||||
|
|
|
|||
24
MEV_strategies/liquidations/euler.md
Normal file
24
MEV_strategies/liquidations/euler.md
Normal file
|
|
@ -0,0 +1,24 @@
|
|||
## euler
|
||||
|
||||
<br>
|
||||
|
||||
### tl; dr
|
||||
|
||||
<br>
|
||||
|
||||
* protocols with larger amounts of bad debt usually suffer oracle attacks (e.g. mango markets). euler tries to improve existing liquidation mechanism to prevent bad debt.
|
||||
* euler presents optimizations on liquidations through debt tokens (dTokens) and suply tokens (eTokens), and offering sliding and muliplying discounts to liquidators (dutch auction)
|
||||
* it calculates health scores using risk-adjusted metrics for collateralized assets, by adjusting them against their market value to a more conservative risk-adjusted one.
|
||||
* once a user healthy's score has flagged for liquidation, anyone can transfer dTokens and eTokens to their own account, buying both their collateral and debit.
|
||||
* **soft liquidation**: only enough collateral and debt are transferred under liquidation to return to a healthy score.
|
||||
* mev resistance comes from the multipliers euler offers to liquidators with deposits in their account.
|
||||
|
||||
<br>
|
||||
|
||||
----
|
||||
|
||||
### resources
|
||||
|
||||
<br>
|
||||
|
||||
* [inovative liquidation, by euler](https://www.euler.finance/blog/eulers-innovative-liquidation-engine)
|
||||
|
|
@ -7,10 +7,24 @@
|
|||
<br>
|
||||
|
||||
|
||||
* **statistical arbs** (non-atomic) convey informed strategies that rely on informed information (signal). examples can be arbs that rely on cross-chain or CEX + DEX strategies.
|
||||
* **statistical mev** (non-atomic) convey informed strategies that rely on off-chain information (signal).
|
||||
|
||||
* examples can be strategies that rely on:
|
||||
- [cross-chains](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_searchers/cross_domain_mev) mev
|
||||
- [defi-cefi arbitrage](dex-cex-arb/)
|
||||
- [order flow](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_searchers/private_order_flows) trading by aggregating from private and public mempools
|
||||
- [whale watching](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_and_trading/whales)
|
||||
|
||||
* these strategies are more profitable and less accessible due to capital requirements and risk profile.
|
||||
|
||||
<br>
|
||||
|
||||
|
||||
<p align="center">
|
||||
<img src="https://user-images.githubusercontent.com/1130416/219130514-10104aa3-6219-45ff-8f93-e138d4085216.png" width="50%" align="center" style="padding:1px;border:1px solid black;"/>
|
||||
</p>
|
||||
|
||||
|
||||
|
||||
|
||||
<br>
|
||||
|
|
@ -22,6 +36,7 @@
|
|||
<br>
|
||||
|
||||
|
||||
* [dex-cex arbitrage](dex-cex-arb/)
|
||||
* [routers and aggregators](aggregators)
|
||||
* [convex optimization](convex_optimization)
|
||||
|
||||
|
|
|
|||
26
MEV_strategies/stat_arbs/dex-cex-arb/README.md
Normal file
26
MEV_strategies/stat_arbs/dex-cex-arb/README.md
Normal file
|
|
@ -0,0 +1,26 @@
|
|||
## dex + cex arb
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
### tl; dr
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
* one leg of happens on a cex while the second leg happens on-chain (dex)
|
||||
|
||||
|
||||
<br>
|
||||
|
||||
---
|
||||
|
||||
### links
|
||||
|
||||
<br>
|
||||
|
||||
* [cefi-cefi arbitrage, by frontier](https://frontier.tech/a-new-game-in-town#9611e39cc63745a489278d09a475600c)
|
||||
* [uniswap v3 markout analysis, by 0xfbifemboy et al.](https://crocswap.medium.com/usage-of-markout-to-calculate-lp-profitability-in-uniswap-v3-e32773b1a88e)
|
||||
* [uniswap markout analysis, by thiccythot et al.](https://medium.com/friktion-research/defi-deep-dive-uniswap-part-2-8be77a859f47)
|
||||
* [cex-dex arb analysis, by a. nezlobin](https://medium.com/@alexnezlobin/ethereum-block-times-mev-and-lp-returns-5c13dc99e80)
|
||||
* [monthly payment to validators by dex+cex trades, by frontier](https://github.com/ankitchiplunkar/crypto_charts/blob/master/notebooks/Coinbase%20rewards%20split%20between%20cefi-defi%20arbs%20and%20others.ipynb)
|
||||
15
README.md
15
README.md
|
|
@ -1,4 +1,4 @@
|
|||
# 🕹⛓ mev toolkit
|
||||
# ⛓🕹 mev toolkit
|
||||
|
||||
|
||||
<br>
|
||||
|
|
@ -18,7 +18,7 @@
|
|||
|
||||
#### 👾 the public discussion around MEV started by [pmcgooohan](https://twitter.com/pmcgoohancrypto?lang=en) on [e/ethereum](https://www.reddit.com/r/ethereum/comments/2d84yv/miners_frontrunning/), and it was formalized by [phildaiann et. al](https://twitter.com/phildaian)'s paper [flash boys 2.0](https://arxiv.org/abs/1904.05234).
|
||||
|
||||
#### 👾 MEV extraction can be a force of good in a non-predatory and [fair](https://twitter.com/bertcmiller/status/1456346690164768770) blockspace free-market as an incentive for economic security. every actor in the supply chain is relevant. order flow toxicity is a trader's exposure to counter-parties that possess private informational advantages. as everything in life, *the most valuable commodity is information*.
|
||||
#### 👾 MEV extraction can be a force of good in a non-predatory and [fair](https://twitter.com/bertcmiller/status/1456346690164768770) blockspace free-market as an incentive for economic security. every actor in the supply chain is relevant. order flow toxicity is a trader's exposure to counter-parties that possess private informational advantages. as everything in life, *[the most valuable commodity is information](https://frontier.tech/a-new-game-in-town)*.
|
||||
|
||||
#### ⚠️ this repository is an ongoing boundless catalog from my own research. therefore, no guarantees, use it at your own risk.
|
||||
|
||||
|
|
@ -51,9 +51,12 @@
|
|||
|
||||
##### statistical (informed signal)
|
||||
|
||||
* [statistical arbs](MEV_strategies/stat_arb)
|
||||
* [oracles and twamm](MEV_strategies/oracles)
|
||||
|
||||
* [statistical arbs](MEV_strategies/stat_arbs)
|
||||
* [defi and trading](MEV_and_trading)
|
||||
* [cross-domain mev](MEV_searchers/cross_domain_mev)
|
||||
* [oracles and twamm](MEV_strategies/oracles)
|
||||
* [exclusive order flows](MEV_searchers/private_order_flows)
|
||||
|
||||
|
||||
<br>
|
||||
|
|
@ -78,9 +81,7 @@
|
|||
|
||||
* [order flows](MEV_searchers/order_flows)
|
||||
* [mev projects](MEV_projects)
|
||||
* [defi and trading](MEV_and_trading)
|
||||
* [build your mev bot](MEV_searchers)
|
||||
* [cross-domain mev](MEV_searchers/cross_domain_mev)
|
||||
* [data and analytics](MEV_searchers/data_and_analytics)
|
||||
* [latency optimization](MEV_searchers/latency)
|
||||
* [mempools monitoring](MEV_searchers/mempool_monitoring)
|
||||
|
|
@ -134,7 +135,7 @@
|
|||
|
||||
* [teal organizations wiki](https://reinventingorganizationswiki.com/)
|
||||
* [the hacker manifest, by the mentor](http://phrack.org/issues/7/3.html)
|
||||
* [bitcoin whitepaper by satoshi nakamoto](https://bitcoin.org/bitcoin.pdf)
|
||||
* [bitcoin whitepaper, by satoshi nakamoto](https://bitcoin.org/bitcoin.pdf)
|
||||
* [the cypherpunk manifest, by eric hughes](https://activism.net/cypherpunk/manifesto.html)
|
||||
* [the meaning of decentralization, by vitalik](https://medium.com/@VitalikButerin/the-meaning-of-decentralization-a0c92b76a274)
|
||||
* [the crypto anarchist manifest, by timothy c. may](https://nakamotoinstitute.org/crypto-anarchist-manifesto/)
|
||||
|
|
|
|||
Loading…
Add table
Add a link
Reference in a new issue