3 papers
q-fin.MF2025
Marginal Price Optimization
Stefan Loesch, Mark Bentley Richardson
We introduce a new framework for optimal routing and arbitrage in AMM driven markets. This framework improves on the original best-practice convex optimization by restricting the s…
q-fin.MF2024
DeFi's Concentrated Liquidity From Scratch
Mark B. Richardson, Stefan Loesch
The scope of this article includes the three preeminent descriptions of concentrated liquidity from Bancor (2020 and 2022), and Uniswap (2021), as well as three additional descript…
q-fin.TR2021
Impermanent Loss in Uniswap v3
Stefan Loesch, Nate Hindman, Mark B Richardson +1
AMMs are autonomous smart contracts deployed on a blockchain that make markets between different assets that live on that chain. In this paper we are examining a specific class of…