Efficient Frontier Market Making Weekly Report June 20th

SSV community, find below the market-maker performance update.
A big week of fall outs after the SEC sued Binance & Coinbase. There are still regulatory issues so we still likely have road bumps ahead. Particularly in America and for Binance. This week, Binance were kicked out of Holland, came under investigation in France and deregistered in the UK. We did see China start to enforce banks like HSBC to accept crypto in Hong Kong so Asia still looking a good play.

Some positive news with Blackrock filing for a Bitcoin ETF but undoubtedly liquidity has been sapped from the altcoin market. Bitcoin and Stablecoin dominance are both at multi-year highs.

FXS – Frax announced they are launching their own Eth based layer 2 Fraxchain and their market responded well here.


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:

Spreads for the previous week.
This is the % of time EF kept spreads from bid-ask at 75bps or better.

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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