Ava Labs x CBER Ep 5: Loss-Versus-Rebalancing (LVR) at Decentralized Exchanges

from The Policy Layer · host The Policy Layer

This episode discusses the costs of liquidity provision at Decentralized Exchanges. Ciamac Moallemi (Columbia University) explains that liquidity providers at a Decentralized Exchange always face a loss relative to an asset portfolio that actively rebalances to match the asset weighting of the Decentralized Exchange at all times. This loss, known as Loss-Versus-Rebalancing (LVR, pronounced 'Lever'), is the primary cost of liquidity provision. Design refinements to mitigate this cost are discussed.Paper: Automated Market Making and Loss-Versus-Rebalancing

What this episode covers

This episode discusses the costs of liquidity provision at Decentralized Exchanges. Ciamac Moallemi (Columbia University) explains that liquidity providers at a Decentralized Exchange always face a loss relative to an asset portfolio that actively rebalances to match the asset weighting of the Decentralized Exchange at all times. This loss, known as Loss-Versus-Rebalancing (LVR, pronounced 'Lever'), is the primary cost of liquidity provision. Design refinements to mitigate this cost are discussed. Paper: Automated Market Making and Loss-Versus-Rebalancing [https://moallemi.com/ciamac/papers/lvr-2022.pdf]

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Ava Labs x CBER Ep 5: Loss-Versus-Rebalancing (LVR) at Decentralized Exchanges

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