From 89035d425341995131851321afb202bc421b53b5 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:21:21 -0800 Subject: [PATCH 01/45] Update README.md --- MEV_strategies/atomic_arb/README.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/MEV_strategies/atomic_arb/README.md b/MEV_strategies/atomic_arb/README.md index 6f21188..1c8603e 100644 --- a/MEV_strategies/atomic_arb/README.md +++ b/MEV_strategies/atomic_arb/README.md @@ -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)**.
From 3b55361f6bfddcae27f7ae5cf5b150d0292444f2 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:22:14 -0800 Subject: [PATCH 02/45] add stat arbs vs atomic --- README.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/README.md b/README.md index 00fd112..f4978e8 100644 --- a/README.md +++ b/README.md @@ -51,7 +51,7 @@ ##### statistical (informed signal) -* [statistical arbs](MEV_strategies/stat_arb) +* [statistical arbs](MEV_strategies/stat_arbs) * [oracles and twamm](MEV_strategies/oracles) From 1a9d6c58344eb9d8ebabc28180c737daef57b0ed Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:25:31 -0800 Subject: [PATCH 03/45] the most valuable commodity is information. --- README.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/README.md b/README.md index f4978e8..3040a7f 100644 --- a/README.md +++ b/README.md @@ -18,7 +18,7 @@ #### ๐Ÿ‘พ 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). -#### ๐Ÿ‘พ 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*. +#### ๐Ÿ‘พ 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)*. #### โš ๏ธ this repository is an ongoing boundless catalog from my own research. therefore, no guarantees, use it at your own risk. From a992ea0eb75da66532a9560c982d721100eadc26 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:35:39 -0800 Subject: [PATCH 04/45] add types of stat arbs --- MEV_strategies/stat_arbs/README.md | 8 +++++++- 1 file changed, 7 insertions(+), 1 deletion(-) diff --git a/MEV_strategies/stat_arbs/README.md b/MEV_strategies/stat_arbs/README.md index 379220b..949804d 100644 --- a/MEV_strategies/stat_arbs/README.md +++ b/MEV_strategies/stat_arbs/README.md @@ -7,7 +7,13 @@
-* **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) arbitrage + - [CEX + DEX arbitrage](https://github.com/go-outside-labs/searcher-coingator-rs) + - [order flow](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_searchers/private_order_flows) trading by aggregating orders from multiple private or 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. From 15383508bc32ebb1b36a2524afd0c9d9b7ea5a01 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:37:04 -0800 Subject: [PATCH 05/45] Update README.md --- MEV_strategies/stat_arbs/README.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/MEV_strategies/stat_arbs/README.md b/MEV_strategies/stat_arbs/README.md index 949804d..4a4ea0f 100644 --- a/MEV_strategies/stat_arbs/README.md +++ b/MEV_strategies/stat_arbs/README.md @@ -11,7 +11,7 @@ * examples can be strategies that rely on: - [cross-chains](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_searchers/cross_domain_mev) arbitrage - - [CEX + DEX arbitrage](https://github.com/go-outside-labs/searcher-coingator-rs) + - [CEX + DEX arbitrage](dex-cefi-arb) - [order flow](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_searchers/private_order_flows) trading by aggregating orders from multiple private or public mempools - [whale watching](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_and_trading/whales) From 021d1613e0eb00feb3268bad3f8dca82eebfa7ba Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:38:28 -0800 Subject: [PATCH 06/45] Create README.md --- MEV_strategies/stat_arbs/dex-cex-arb/README.md | 17 +++++++++++++++++ 1 file changed, 17 insertions(+) create mode 100644 MEV_strategies/stat_arbs/dex-cex-arb/README.md diff --git a/MEV_strategies/stat_arbs/dex-cex-arb/README.md b/MEV_strategies/stat_arbs/dex-cex-arb/README.md new file mode 100644 index 0000000..612ad71 --- /dev/null +++ b/MEV_strategies/stat_arbs/dex-cex-arb/README.md @@ -0,0 +1,17 @@ +## dex + cex arb + + +
+ +### tl; dr + + +
+ +
+ +--- + +### links + +* [CeFi-DeFi arbitrage, by frontier](https://frontier.tech/a-new-game-in-town#9611e39cc63745a489278d09a475600c) From da826822795ca9b8f2585370b013a9b893ffd587 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:40:00 -0800 Subject: [PATCH 07/45] add dex-cex arbitrage --- MEV_strategies/stat_arbs/README.md | 7 ++++--- 1 file changed, 4 insertions(+), 3 deletions(-) diff --git a/MEV_strategies/stat_arbs/README.md b/MEV_strategies/stat_arbs/README.md index 4a4ea0f..5f637ea 100644 --- a/MEV_strategies/stat_arbs/README.md +++ b/MEV_strategies/stat_arbs/README.md @@ -10,9 +10,9 @@ * **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) arbitrage - - [CEX + DEX arbitrage](dex-cefi-arb) - - [order flow](https://github.com/go-outside-labs/mev-toolkit/tree/main/MEV_searchers/private_order_flows) trading by aggregating orders from multiple private or public mempools + - [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. @@ -28,6 +28,7 @@
+* [dex-cex arbitrage](dex-cex-arb/) * [routers and aggregators](aggregators) * [convex optimization](convex_optimization) From e4fd372364f00c09115a4795e731d98f931a90b7 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:43:13 -0800 Subject: [PATCH 08/45] add some markout analysis --- MEV_strategies/stat_arbs/dex-cex-arb/README.md | 7 ++++++- 1 file changed, 6 insertions(+), 1 deletion(-) diff --git a/MEV_strategies/stat_arbs/dex-cex-arb/README.md b/MEV_strategies/stat_arbs/dex-cex-arb/README.md index 612ad71..6b0889b 100644 --- a/MEV_strategies/stat_arbs/dex-cex-arb/README.md +++ b/MEV_strategies/stat_arbs/dex-cex-arb/README.md @@ -14,4 +14,9 @@ ### links -* [CeFi-DeFi arbitrage, by frontier](https://frontier.tech/a-new-game-in-town#9611e39cc63745a489278d09a475600c) +
+ +* [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) From 0d04a93985d85f896c0197a834b878fe2eeb08f0 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:46:13 -0800 Subject: [PATCH 09/45] add markouts and stat analysis in uniswap v3 --- MEV_and_trading/protocols/uniswap/uniswap-v3/README.md | 5 +++-- 1 file changed, 3 insertions(+), 2 deletions(-) diff --git a/MEV_and_trading/protocols/uniswap/uniswap-v3/README.md b/MEV_and_trading/protocols/uniswap/uniswap-v3/README.md index 8379492..cb1ef69 100644 --- a/MEV_and_trading/protocols/uniswap/uniswap-v3/README.md +++ b/MEV_and_trading/protocols/uniswap/uniswap-v3/README.md @@ -39,10 +39,11 @@
* [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) +* [liquidity mining on uniswap v3, by paradigm](https://www.paradigm.xyz/2021/05/liquidity-mining-on-uniswap-v3) * [uniswap v3 book, by jeiwan](https://github.com/Jeiwan/uniswapv3-book) * [jit liquidity by chainsight](https://twitter.com/ChainsightLabs/status/1457958811243778052) * [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) From 66dd612eb914b7c187dbac3c267df48a90ac7ac6 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:48:05 -0800 Subject: [PATCH 10/45] searchers who have access to private and public mempools can aggregate txs and predict price movement --- MEV_searchers/private_order_flows/README.md | 6 ++++++ 1 file changed, 6 insertions(+) diff --git a/MEV_searchers/private_order_flows/README.md b/MEV_searchers/private_order_flows/README.md index 1213997..0b532ee 100644 --- a/MEV_searchers/private_order_flows/README.md +++ b/MEV_searchers/private_order_flows/README.md @@ -2,6 +2,12 @@
+* searchers who have access to private and public mempools can aggregate txs and predict price movement. + +
+ +---- + ### in this dir
From 6e5fd950794c2dba787e91caa7eaa4132dc82ac1 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:48:17 -0800 Subject: [PATCH 11/45] Update README.md --- MEV_searchers/private_order_flows/README.md | 4 ++++ 1 file changed, 4 insertions(+) diff --git a/MEV_searchers/private_order_flows/README.md b/MEV_searchers/private_order_flows/README.md index 0b532ee..21f0344 100644 --- a/MEV_searchers/private_order_flows/README.md +++ b/MEV_searchers/private_order_flows/README.md @@ -2,6 +2,10 @@
+### tl; dr + +
+ * searchers who have access to private and public mempools can aggregate txs and predict price movement.
From 3454fb8f2f7c9f81fdb0c8cf52d774b9d79c23f8 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:49:09 -0800 Subject: [PATCH 12/45] payment for order flow on tradefi, by forbes --- MEV_searchers/private_order_flows/README.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_searchers/private_order_flows/README.md b/MEV_searchers/private_order_flows/README.md index 21f0344..840f07c 100644 --- a/MEV_searchers/private_order_flows/README.md +++ b/MEV_searchers/private_order_flows/README.md @@ -35,3 +35,4 @@ * [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/) From 71b257bdbaa583109e79c9cefbd834fd09541c18 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:50:45 -0800 Subject: [PATCH 13/45] Update README.md --- MEV_searchers/private_order_flows/README.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/MEV_searchers/private_order_flows/README.md b/MEV_searchers/private_order_flows/README.md index 840f07c..1072f3e 100644 --- a/MEV_searchers/private_order_flows/README.md +++ b/MEV_searchers/private_order_flows/README.md @@ -7,6 +7,8 @@
* 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.
From 51eaf36244117a6f42a9976084ed3828fa98f2de Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 10:56:40 -0800 Subject: [PATCH 14/45] add some whale wallets --- MEV_and_trading/whales/README.md | 33 ++++++++++++++++++++++++++++---- 1 file changed, 29 insertions(+), 4 deletions(-) diff --git a/MEV_and_trading/whales/README.md b/MEV_and_trading/whales/README.md index 08596ae..1953927 100644 --- a/MEV_and_trading/whales/README.md +++ b/MEV_and_trading/whales/README.md @@ -1,7 +1,32 @@ -## List of whale wallets +## whale watching
-* https://zapper.fi/account/0x6555e1cc97d3cba6eaddebbcd7ca51d75771e0b8 -* https://twitter.com/ThorHartvigsen/status/1622632955939287043 -* https://debank.com/whales +### tl; dr + +
+ + +
+ +--- + +### list of whale wallets + +
+ +* [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) + + +
+ +---- + +### links + +
+ + +* [return analysis, by defi_mochi](https://twitter.com/defi_mochi/status/1616649547350151169) From e91aea66c490371b8bc225589d7580af1967d0df Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 11:03:43 -0800 Subject: [PATCH 15/45] monthly payment to validators by dex+cex trades, by frontier --- MEV_strategies/stat_arbs/dex-cex-arb/README.md | 4 ++++ 1 file changed, 4 insertions(+) diff --git a/MEV_strategies/stat_arbs/dex-cex-arb/README.md b/MEV_strategies/stat_arbs/dex-cex-arb/README.md index 6b0889b..2ad063b 100644 --- a/MEV_strategies/stat_arbs/dex-cex-arb/README.md +++ b/MEV_strategies/stat_arbs/dex-cex-arb/README.md @@ -8,6 +8,9 @@
+* one leg of happens on a cex while the second leg happens on-chain (dex) + +
--- @@ -20,3 +23,4 @@ * [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) From a15e497ca7cc1afc038b7098abfc9fe6c60ef18c Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 11:07:33 -0800 Subject: [PATCH 16/45] mev capturing amm, by josojo --- MEV_projects/README.md | 8 +++++++- 1 file changed, 7 insertions(+), 1 deletion(-) diff --git a/MEV_projects/README.md b/MEV_projects/README.md index a5c8968..5884d83 100644 --- a/MEV_projects/README.md +++ b/MEV_projects/README.md @@ -14,6 +14,12 @@
-### resources +--- + +### links + +
* [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) From 11b66bac79a06b2a44dac2804e35c29e0fa07b7b Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 11:12:51 -0800 Subject: [PATCH 17/45] Update RFQ.md --- MEV_and_trading/protocols/0x_protocol/RFQ.md | 15 ++++++++++++--- 1 file changed, 12 insertions(+), 3 deletions(-) diff --git a/MEV_and_trading/protocols/0x_protocol/RFQ.md b/MEV_and_trading/protocols/0x_protocol/RFQ.md index 6a191b4..bef7ded 100644 --- a/MEV_and_trading/protocols/0x_protocol/RFQ.md +++ b/MEV_and_trading/protocols/0x_protocol/RFQ.md @@ -1,12 +1,21 @@ -## Request-for-Quote (RFQ) +## request-for-quote (RFQ) + +
### tl; dr +
+ +* 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). + +
--- -### resources +### links -* [0xv4 RFQ order guide in python](https://gist.github.com/lampshade9909/cf16b2aa198e4df8d00702ffd7bf506a) +
+ +* [hashflow](https://www.hashflow.com/) From fe50ca3c12cb3b1612fa0ded7c9741cfbd217faf Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 11:17:04 -0800 Subject: [PATCH 18/45] Update README.md --- README.md | 10 +++++----- 1 file changed, 5 insertions(+), 5 deletions(-) diff --git a/README.md b/README.md index 3040a7f..5650fbe 100644 --- a/README.md +++ b/README.md @@ -51,9 +51,12 @@ ##### statistical (informed signal) -* [statistical arbs](MEV_strategies/stat_arbs) -* [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)
@@ -77,12 +80,9 @@
* [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) -* [exclusive order flows](MEV_searchers/private_order_flows) * [mempools monitoring](MEV_searchers/mempool_monitoring) * [tx and signature explorers](MEV_searchers/tx_and_signature_explorers) From aa0878c95eb1d45f9bc028ce825e73e344c45076 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 11:20:29 -0800 Subject: [PATCH 19/45] Update README.md --- MEV_strategies/stat_arbs/README.md | 8 ++++++++ 1 file changed, 8 insertions(+) diff --git a/MEV_strategies/stat_arbs/README.md b/MEV_strategies/stat_arbs/README.md index 5f637ea..93d10e2 100644 --- a/MEV_strategies/stat_arbs/README.md +++ b/MEV_strategies/stat_arbs/README.md @@ -17,6 +17,14 @@ * these strategies are more profitable and less accessible due to capital requirements and risk profile. +
+ + +

+ +

+ +
From a41ed66f959e4c874b170403331311b1d53f21c7 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 12:38:14 -0800 Subject: [PATCH 20/45] sushiguardrouterv01 with manifold --- MEV_and_trading/protocols/uniswap/README.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_and_trading/protocols/uniswap/README.md b/MEV_and_trading/protocols/uniswap/README.md index c652a4d..9f06fbf 100644 --- a/MEV_and_trading/protocols/uniswap/README.md +++ b/MEV_and_trading/protocols/uniswap/README.md @@ -42,4 +42,5 @@ * [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) From 438817d3c0c6ea794ee5061e72baa72d702b1e7c Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 12:50:05 -0800 Subject: [PATCH 21/45] the value of nontoxic orderflow to the uniswap protocol, by m. holloway --- MEV_and_trading/protocols/uniswap/README.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_and_trading/protocols/uniswap/README.md b/MEV_and_trading/protocols/uniswap/README.md index 9f06fbf..6e655c7 100644 --- a/MEV_and_trading/protocols/uniswap/README.md +++ b/MEV_and_trading/protocols/uniswap/README.md @@ -43,4 +43,5 @@ * [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) From 8878198a1600018b3a706a26f7cdc99a6781299b Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 14:03:24 -0800 Subject: [PATCH 22/45] Update README.md --- MEV_and_trading/whales/README.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_and_trading/whales/README.md b/MEV_and_trading/whales/README.md index 1953927..82f226b 100644 --- a/MEV_and_trading/whales/README.md +++ b/MEV_and_trading/whales/README.md @@ -18,6 +18,7 @@ * [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)
From 90ef6736651e290a19aa95100c74a996cdcfb468 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Wed, 15 Feb 2023 15:03:59 -0800 Subject: [PATCH 23/45] unpacking erc-4337, by a. chiplunkar --- MEV_by_chains/MEV_on_Ethereum/account_abstraction/README.md | 4 +++- 1 file changed, 3 insertions(+), 1 deletion(-) diff --git a/MEV_by_chains/MEV_on_Ethereum/account_abstraction/README.md b/MEV_by_chains/MEV_on_Ethereum/account_abstraction/README.md index 4aa4794..a3b919e 100644 --- a/MEV_by_chains/MEV_on_Ethereum/account_abstraction/README.md +++ b/MEV_by_chains/MEV_on_Ethereum/account_abstraction/README.md @@ -16,6 +16,8 @@
-* [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) + From 398459db311f656ae0961afdefdbdb853581c151 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Thu, 16 Feb 2023 12:39:15 -0800 Subject: [PATCH 24/45] decentralizing the builder role, by vitalik --- MEV_by_chains/MEV_on_Ethereum/block_builders.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_by_chains/MEV_on_Ethereum/block_builders.md b/MEV_by_chains/MEV_on_Ethereum/block_builders.md index 4883328..762254f 100644 --- a/MEV_by_chains/MEV_on_Ethereum/block_builders.md +++ b/MEV_by_chains/MEV_on_Ethereum/block_builders.md @@ -40,3 +40,4 @@ * [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#/) From 8f2bcb7a185ea9ef0547f437b3ca7c54d15c245d Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Thu, 16 Feb 2023 13:47:36 -0800 Subject: [PATCH 25/45] Update README.md --- README.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/README.md b/README.md index 5650fbe..84955d1 100644 --- a/README.md +++ b/README.md @@ -1,4 +1,4 @@ -# ๐Ÿ•นโ›“ mev toolkit +# โ›“๐Ÿ•น mev toolkit
@@ -134,7 +134,7 @@ * [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/) From c991426d481a72ebac08a004cf5b07cc9e2a6a6c Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:00:33 -0800 Subject: [PATCH 26/45] add token analyzoor, by mochi --- MEV_and_trading/whales/README.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_and_trading/whales/README.md b/MEV_and_trading/whales/README.md index 82f226b..8c4263b 100644 --- a/MEV_and_trading/whales/README.md +++ b/MEV_and_trading/whales/README.md @@ -19,6 +19,7 @@ * [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)
From e37ac970ded02ffb7e91ead35f9532f1f3108c19 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:11:34 -0800 Subject: [PATCH 27/45] Update README.md --- MEV_and_trading/derivatives/README.md | 95 +++------------------------ 1 file changed, 9 insertions(+), 86 deletions(-) diff --git a/MEV_and_trading/derivatives/README.md b/MEV_and_trading/derivatives/README.md index 626e5bd..ecc5a37 100644 --- a/MEV_and_trading/derivatives/README.md +++ b/MEV_and_trading/derivatives/README.md @@ -7,102 +7,25 @@
-* **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. +* **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.
----- - -### protocols - -
- -#### 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 - - - -
- - - -#### [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) - -
- - - -#### 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. - -
- - - - -#### 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). - -
- - - - -#### 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. - -
- - - -#### [metronome](https://www.metronome.io/) - - - -* synthetic protocol to enable users to generate a variety of synthetics using crypto assets as collateral - -
--- -### resources +### links
* [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/) From f8a34d80b53319556b1d9e53d56791cce59a229e Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:12:24 -0800 Subject: [PATCH 28/45] Create perpetuals.md --- MEV_and_trading/derivatives/perpetuals.md | 30 +++++++++++++++++++++++ 1 file changed, 30 insertions(+) create mode 100644 MEV_and_trading/derivatives/perpetuals.md diff --git a/MEV_and_trading/derivatives/perpetuals.md b/MEV_and_trading/derivatives/perpetuals.md new file mode 100644 index 0000000..12e50e6 --- /dev/null +++ b/MEV_and_trading/derivatives/perpetuals.md @@ -0,0 +1,30 @@ +## perpetuals + +
+ +#### [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 + +
+ +#### [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. + From 15ce93ebea6d12e93d3e344360dd0a83f14e3efa Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:12:58 -0800 Subject: [PATCH 29/45] Create options.md --- MEV_and_trading/derivatives/options.md | 25 +++++++++++++++++++++++++ 1 file changed, 25 insertions(+) create mode 100644 MEV_and_trading/derivatives/options.md diff --git a/MEV_and_trading/derivatives/options.md b/MEV_and_trading/derivatives/options.md new file mode 100644 index 0000000..37cae69 --- /dev/null +++ b/MEV_and_trading/derivatives/options.md @@ -0,0 +1,25 @@ +### options + +
+ +#### 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. + +
+ + + +#### lyra + +* 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). + +
+ + From da88f3e50aa8f5a906a193895a75b69b09596354 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:13:18 -0800 Subject: [PATCH 30/45] Create futures.md --- MEV_and_trading/derivatives/futures.md | 3 +++ 1 file changed, 3 insertions(+) create mode 100644 MEV_and_trading/derivatives/futures.md diff --git a/MEV_and_trading/derivatives/futures.md b/MEV_and_trading/derivatives/futures.md new file mode 100644 index 0000000..5cc8ca9 --- /dev/null +++ b/MEV_and_trading/derivatives/futures.md @@ -0,0 +1,3 @@ +## futures + +
From 57736a3ba5c0fc3a953a0c50bc2c0193b4cbf16a Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:23:16 -0800 Subject: [PATCH 31/45] Update options.md --- MEV_and_trading/derivatives/options.md | 26 +++++++++++++++++++++----- 1 file changed, 21 insertions(+), 5 deletions(-) diff --git a/MEV_and_trading/derivatives/options.md b/MEV_and_trading/derivatives/options.md index 37cae69..6a0bc0d 100644 --- a/MEV_and_trading/derivatives/options.md +++ b/MEV_and_trading/derivatives/options.md @@ -1,8 +1,24 @@ -### options +## options
-#### thales +### tl; dr + +
+ +* 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). + +
+ +--- + +### protocols + +
+ +#### [thales](https://thalesmarket.io/) @@ -14,11 +30,11 @@ -#### lyra +#### [lyra.finance](https://www.lyra.finance/) * 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). +* 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).
From 632fbeb70bd7462e610b257665f5226beeba04bb Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:26:08 -0800 Subject: [PATCH 32/45] Update options.md --- MEV_and_trading/derivatives/options.md | 18 ++++++++++++++++++ 1 file changed, 18 insertions(+) diff --git a/MEV_and_trading/derivatives/options.md b/MEV_and_trading/derivatives/options.md index 6a0bc0d..12e3de8 100644 --- a/MEV_and_trading/derivatives/options.md +++ b/MEV_and_trading/derivatives/options.md @@ -32,10 +32,28 @@ #### [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).
+#### [hegic](https://www.hegic.co/app#/arbitrum/trade/new) +* chains: arbitrum, ethereum + + +
+ +#### [whiteheart](https://www.whiteheart.finance/#/swap-wrap/wrap?from=WBTC&to=WHBTC) + +* chains: ethereum + +
+ +#### [premia](https://app.premia.finance/options) + +* chains: ethereum, arbitrum, fantom, optimism + +
From 103280ac29068915dfd4fadf558a986936d5383d Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:26:45 -0800 Subject: [PATCH 33/45] Update options.md --- MEV_and_trading/derivatives/options.md | 6 ++++++ 1 file changed, 6 insertions(+) diff --git a/MEV_and_trading/derivatives/options.md b/MEV_and_trading/derivatives/options.md index 12e3de8..a27a84b 100644 --- a/MEV_and_trading/derivatives/options.md +++ b/MEV_and_trading/derivatives/options.md @@ -44,6 +44,12 @@ * chains: arbitrum, ethereum +
+ +#### [siren](https://siren.xyz/) + +* chain: polygon +
#### [whiteheart](https://www.whiteheart.finance/#/swap-wrap/wrap?from=WBTC&to=WHBTC) From 2e909d5a2f2793967d73aa114b4f1147aede7469 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:27:35 -0800 Subject: [PATCH 34/45] Update gns.md --- MEV_and_trading/protocols/gns.md | 4 ++++ 1 file changed, 4 insertions(+) diff --git a/MEV_and_trading/protocols/gns.md b/MEV_and_trading/protocols/gns.md index 9f76c6e..889f370 100644 --- a/MEV_and_trading/protocols/gns.md +++ b/MEV_and_trading/protocols/gns.md @@ -14,3 +14,7 @@ --- ### resources + +
+ +* [arbitrum trading context](https://gains.trade/contest) From 38615ef1bcc8c8c2ceeb920ba677b6093ad63863 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:29:06 -0800 Subject: [PATCH 35/45] Update options.md --- MEV_and_trading/derivatives/options.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_and_trading/derivatives/options.md b/MEV_and_trading/derivatives/options.md index a27a84b..e9e635a 100644 --- a/MEV_and_trading/derivatives/options.md +++ b/MEV_and_trading/derivatives/options.md @@ -36,6 +36,7 @@ * 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)
From e50b7962f6c9e6e489ae2fb6970ad98b57e2d778 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:29:42 -0800 Subject: [PATCH 36/45] black-scholes model --- MEV_and_trading/derivatives/README.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_and_trading/derivatives/README.md b/MEV_and_trading/derivatives/README.md index ecc5a37..f2f365a 100644 --- a/MEV_and_trading/derivatives/README.md +++ b/MEV_and_trading/derivatives/README.md @@ -28,4 +28,5 @@ * [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/) +* [black-scholes model](https://www.investopedia.com/terms/b/blackscholes.asp) From e1fcb1b4a291673ca9d33084c292d2444ba3f120 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:31:56 -0800 Subject: [PATCH 37/45] Update README.md --- MEV_and_trading/derivatives/README.md | 12 +++++++++++- 1 file changed, 11 insertions(+), 1 deletion(-) diff --git a/MEV_and_trading/derivatives/README.md b/MEV_and_trading/derivatives/README.md index f2f365a..34420f4 100644 --- a/MEV_and_trading/derivatives/README.md +++ b/MEV_and_trading/derivatives/README.md @@ -17,6 +17,16 @@
+--- + +### theory + +
+ +* [bsm](bsm.md) + + +
--- @@ -28,5 +38,5 @@ * [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/) -* [black-scholes model](https://www.investopedia.com/terms/b/blackscholes.asp) + From 49432c9c3461287de72a5426c0f34e1cd52e8d8c Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:37:10 -0800 Subject: [PATCH 38/45] black-sholes model --- MEV_and_trading/derivatives/bsm.md | 19 +++++++++++++++++++ 1 file changed, 19 insertions(+) create mode 100644 MEV_and_trading/derivatives/bsm.md diff --git a/MEV_and_trading/derivatives/bsm.md b/MEV_and_trading/derivatives/bsm.md new file mode 100644 index 0000000..f170113 --- /dev/null +++ b/MEV_and_trading/derivatives/bsm.md @@ -0,0 +1,19 @@ +## black-sholes model + +
+ +### tl; dr + +
+ +* 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. + + +
+ + From c06863482fd3bcf4e12d23ad94676a34bdc7d50f Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 11:58:15 -0800 Subject: [PATCH 39/45] Update README.md --- MEV_searchers/latency/README.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/MEV_searchers/latency/README.md b/MEV_searchers/latency/README.md index 11f833c..2ee64c6 100644 --- a/MEV_searchers/latency/README.md +++ b/MEV_searchers/latency/README.md @@ -7,6 +7,8 @@
+* 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. +
--- From 9698d7731371725d8497307ef4f3c231f31cd5a2 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 12:00:44 -0800 Subject: [PATCH 40/45] Update block_builders.md --- MEV_by_chains/MEV_on_Ethereum/block_builders.md | 10 ++++++---- 1 file changed, 6 insertions(+), 4 deletions(-) diff --git a/MEV_by_chains/MEV_on_Ethereum/block_builders.md b/MEV_by_chains/MEV_on_Ethereum/block_builders.md index 762254f..78eb233 100644 --- a/MEV_by_chains/MEV_on_Ethereum/block_builders.md +++ b/MEV_by_chains/MEV_on_Ethereum/block_builders.md @@ -30,14 +30,16 @@
+ * [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) + From 5378d8facfee5554c66623e559f005669d0b6b12 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 13:26:15 -0800 Subject: [PATCH 41/45] Update README.md --- MEV_strategies/liquidations/README.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_strategies/liquidations/README.md b/MEV_strategies/liquidations/README.md index 4ac2753..13f6713 100644 --- a/MEV_strategies/liquidations/README.md +++ b/MEV_strategies/liquidations/README.md @@ -22,6 +22,7 @@ * [compound](compound.md) * [liquity](liquity.md) * [aave](aave.md) +* [euler](euler.md)
From 5a6ed4b3914fb65d2bd405a6bf741483d0aba08c Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 13:39:03 -0800 Subject: [PATCH 42/45] Update README.md --- MEV_strategies/liquidations/README.md | 1 + 1 file changed, 1 insertion(+) diff --git a/MEV_strategies/liquidations/README.md b/MEV_strategies/liquidations/README.md index 13f6713..2b6fd6d 100644 --- a/MEV_strategies/liquidations/README.md +++ b/MEV_strategies/liquidations/README.md @@ -7,6 +7,7 @@
* **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. From 43d100cc702a71d7f6cf58f506706be6e42d3e20 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 13:39:39 -0800 Subject: [PATCH 43/45] Create euler.md --- MEV_strategies/liquidations/euler.md | 24 ++++++++++++++++++++++++ 1 file changed, 24 insertions(+) create mode 100644 MEV_strategies/liquidations/euler.md diff --git a/MEV_strategies/liquidations/euler.md b/MEV_strategies/liquidations/euler.md new file mode 100644 index 0000000..3eb97d2 --- /dev/null +++ b/MEV_strategies/liquidations/euler.md @@ -0,0 +1,24 @@ +## euler + +
+ +### tl; dr + +
+ +* 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. + +
+ +---- + +### resources + +
+ +* [inovative liquidation, by euler](https://www.euler.finance/blog/eulers-innovative-liquidation-engine) From e28d7e8739b843a08d950518e98b785231b6247a Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 13:41:49 -0800 Subject: [PATCH 44/45] uniswap v3 twap oracle simulator, by euler --- MEV_and_trading/protocols/uniswap/uniswap-v3/README.md | 6 ++++-- 1 file changed, 4 insertions(+), 2 deletions(-) diff --git a/MEV_and_trading/protocols/uniswap/uniswap-v3/README.md b/MEV_and_trading/protocols/uniswap/uniswap-v3/README.md index cb1ef69..ba8f371 100644 --- a/MEV_and_trading/protocols/uniswap/uniswap-v3/README.md +++ b/MEV_and_trading/protocols/uniswap/uniswap-v3/README.md @@ -38,10 +38,12 @@
+ * [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) From bf6b3efc5783fa0b0b778e8227c0b2dad257ddc6 Mon Sep 17 00:00:00 2001 From: "dr. mia von steinkirch, phd" <1130416+mvonsteinkirch@users.noreply.github.com> Date: Fri, 17 Feb 2023 15:59:17 -0800 Subject: [PATCH 45/45] add suave economic model --- MEV_projects/flashbots/suave/README.md | 3 +++ 1 file changed, 3 insertions(+) diff --git a/MEV_projects/flashbots/suave/README.md b/MEV_projects/flashbots/suave/README.md index a9ada46..6c33fcf 100644 --- a/MEV_projects/flashbots/suave/README.md +++ b/MEV_projects/flashbots/suave/README.md @@ -19,4 +19,7 @@ ### resources +
+ * [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)