DeFi
18 June 2022
Are Automated Market Makers Sustainable?
In trading, the term liquidity often points to how easily an asset can be bought or sold. Market makers are liquidity providers, so think of it this way: Assume trader A wants to buy one bitcoin. The CEX (centralized exchange) overseeing that trade uses an automated system to find a seller, trader B, who is […]
DeFi
17 June 2022
Below 0° Celsius: When Your Deposit Gets Frozen
This column explores cryptocurrency markets from the perspective of a somewhat-grizzled trading veteran with a quantitative background and perhaps too much experience doing derivatives janitorial work. Finance is an old industry with a long history of everything from productive innovation to cartoonish fraud. Here we take a grand skeptical tour of a new corner of that world, […]
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