Efficient Frontier Market Making Weekly Report May 9th

There is still ongoing FUD driven by America which is causing liquidity issues in the markets. Coinbase officially launch their international derivatives exchanges (so far just BTC & ETH Perps for institutionals). Bittrex.US which is an OG (albeit high fee) exchange has officially filed for chapter 11 in America.

Hopefully the meme coin and BRC mania is ending and liquidity can be pushed back into alts.

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:

Even with the market downturn, we are ensuring we are both buying & selling tokens and making markets.

Spreads for the previous week.
This is the % of time EF kept spreads from bid-ask at 75bps or better. Binance issues impacted us slightly here otherwise we are working hard to keep spreads tight and book thick over 90% of the time in all other exchanges.

This does not include liquidity & trading in the V3 pool, as well as the hedging activity in Binance USDT pair.

Our aim is to continue to incentive volume and sustained trading health in the SSV market.

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