Efficient Frontier Market Making Weekly Report September 5th

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

After the pump following the SEC vs. GreyScale ETF case (Crypto vs SEC: What Grayscale’s court victory means for bitcoin ETFs | Financial Times), the market quickly retraced all its gains. It does definitely seem that the Bitcoin ETF is more likely now though.

The price of SSV is moving in correlation with the majority of the Eth Ecosystem. Positively, we are approaching all time highs in the liquid staking sector(One Corner of Crypto Is Back Near a Record High After a $15 Billion Surge). As a result, the Eth ecosystem is clearly outpacing the wider crypto market. A chart showing stakings rebound is included at the bottom.

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:

Screen Shot 2023-09-05 at 15.25.01

Spreads for the previous week.
This is the % of time EF kept spreads from bid-ask at 75bps or better. All over 98% this week.

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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