Efficient Frontier Market Making Weekly Report August 22nd

SSV community, find below the market-maker performance update.

A big market crash this week and no one was spared. We basically wiped out 2 months of positive momentum & liquidity. Bitcoin, SSV and most of the market are now where we were this time exactly 2 months ago (pre Blackrock/Fidelity Bitcoin ETF news).

Sound like a broken record but Binance is experiencing pretty severe FUD particularly pertaining to the BNB token & company liquidation. Although they are holding up strong at the moment #4.

Let’s hope for some more positive narratives and liquidity in the market other than just friends.tech :slight_smile:

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

Marketshare for the previous week:
Some big volumes here but note that a lot of it was during the sell-offs late last week.

Spreads for the previous week.
This is the % of time EF kept spreads from bid-ask at 75bps or better. The Binance pairs were hard to keep as high given the volatility on the exchange. Otherwise all pairs over 94%

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.

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