Notes from the replay
Every vault gate comes from replayed swaps. These notes record what the replay measured, which window it used, and what changed in the product as a result.
3 notes
Newest first
- Sizing vaults to poolsThe ceiling is $100,000, the floor is $10,000, and the binding constraint is the pool. A vault takes the largest position that holds at most 20% of in-range liquidity, so a thin token gets a smaller vault rather than no vault, and every replay runs at that size.Uptick Research
- Why 02:00 UTCThe keeper waits until after the NYSE session closes and recentres at 02:00 UTC. The schedule comparison set that slot against recentring at the open, and the gate figures follow the schedule the vault actually runs.Uptick Research
- Who liquidity providers lose toFees earned per dollar lost to informed traders, split by NYSE hours, weeknights and weekends, from 5.1 million swaps over 54 days across the NVDA, SPCX and TSLA pools. Weekends paid 13.64 against 1.16 in NYSE hours, and the weekend ratio led in 22 of 23 pool-weeks.Uptick Research