Efficient Frontier Market Making Weekly Report April 16th 2024

Big correction in the market. The Iranian strike kicked off a cascade of liquidations and most of the market dropped 25-30% (SSV included). A lot of uncertainty is still in the air.

Halving this weekend, so hopefully this was the final clear-out before it.

  • SSV down 27.1%
  • Comparative tokens have had worse declines (LIDO ~33% down)

A few notes to explain what you are seeing:
• “7d Avg Spread” is the average spread from the best performing spread market (Binance USDT pair).
• “4% Liquidity” is ±2% from midprice liquidity sitting in the books across all exchanges
• In the individual pairs, the “2% Liquidity” is ±1% from the midprice liquidity sitting in that individual pair
*The price movement and comparison can be referenced on CoinGecko under “How does the price performance of SSV Network compare against its peers?” SSV Network Price: SSV Live Price Chart, Market Cap & News Today | CoinGecko

  • Positive news is that volumes have increased
  • We’ve continue to increase our market share.
  • Efficient Frontier has traded $3m on Binance and $2.9m on OKX
  • With the poor price movement EF recognised the need to be more aggressive with our trading on key market like Binance SSV/USDT.
  • Here to support in the good and bad moments.

Liquidity Snapshots

  • Below is the average liquidity for the week. 2% = ±1%, 4% = ±2%, 8% = ±4%

Spreads for the previous week.

  • This is the % of time EF kept spreads from bid-ask at 75bps or better.

Please follow market spreads either on the exchanges or Coingecko/Coinmarket cap to validate that our spreads are remaining below the agreed upon KPI

This does not include liquidity & trading in the V3 pool
Our aim is to continue to incentive volume and sustained trading health in the SSV market while remaining as transparent as we can with community members.