Total Volume + Fees
The launch of Uniswap v4 is tentatively set for Q3 2024! The momentum for v4 has been building robustly and there are bound to be some excellent LP opportunities. The Uniswap team is currently working on core code, optimizing for those precious gas savings, boosting security, and polishing the final touches.
This week, Ethereum, in particular, has seen its value skyrocket, surpassing previous records since the last bull market nearing the $3000 mark as each day passes.
Likewise, the Solana ecosystem, along with its native token, is witnessing a significant surge in trading volume.
You may have noticed that the Arbitrum, Polygon and Optimism calculators on Poolfish have been down for some time. This has been very unfortunate and we thank you for your patience!
We depend on Uniswap's public subgraph data to make our calculations and the issue is due to this subgraph being down. We are still waiting for Uniswap to get the subgraphs back up and running and hopefully they get things fixed soon!
In the meantime, we do have backup data for Arbitrum now so you should be able to start using it smoothly again! We are still waiting for the other ones. Thank you for your patience!
Arbitrum continues to surprise us. Stable coin volume on Arb continues to be the highest among all other ETH chains. The volume on the chain has grown 4x since last year!
105
Solana LP Action
On Orca there are now a total of 20,755 active LPs, up nearly 20% since about 3 weeks ago. Similarly there are about 55,000 positions up from 47,825 positions 3 weeks ago. More and more LPs are dabbling into Solana ecosystem especially since protocols like Raydium are also providing incentive tokens on top of trading fees for LPs.
Staking Protocols on Solana are also on the rise and staked pairs are some of the most popular pairs for LPs.
DEXs like ORCA offer VERY high APY for concentrated LP on big coins like $WIF $BONK. The WIF/BONK pool on Orca has a total of $48 million volume while the pool $143.9k in total fees and only ~550 LPs.
Stable pairs on Orca's AMM are also doing well and are great for LPs who believe in the long term future of SOL and want a delta neutral strategy for their assets. Orca's SOL-USDC 5bps Pool has now a total volume of $8.3 Billion and a total of $4,039,779 in trading fees with about 2000 current LPs.
Apart from Solana, there are many new protocols in the last few weeks and they often provide really good incentives for bootstrapping liquidity. Here is a user of Hawksight.co, which is a Concentrated Liquidity Yield Optimizer for Active LPs on Solana.
Currently Hawksight has many lucrative offers for Solana LPs
They also Auto-compound your fees and manage your position for you. Since gas fees on Solana are next to nothing, onchain activity is not hindered by gas costs.
Raydium is also known for providing incentives on top of trading fees. Here are just some of the best pool on Raydium with really good fee rates.
COWSWAP Anti-MEV AMM model
The dirty secret of AMMs is that many of their pools are leaking.
In fact, liquidity providers lose 5-7% of their profits to MEV every year, making *most liquidity pools* unprofitable.
That's why CoW DAO is building the first MEV-capturing AMM.
We call it CoW AMM.
The CoW DAO has introduced an innovative automated market maker called CoW AMM, specifically designed to address and capture MEV for the benefit of LPs. This new AMM model is a response to the significant issue of Loss-Versus-Rebalancing (LVR), which traditionally results in over $500 million in annual losses for LPs.
When there's a chance for arbitrage, solvers enter a bidding war to rebalance the pool. The highest bidder, who adds the most value back to the pool, gets to make the move.
Ethereum Pool(s) Analysis
We saw many new tokens on the LP fee leaderboard this week. Last week we took a look at $PANDORA and $PORK. This week the 1% fee tier saw many new pools raking in 6 figures of fees.
Heroes Of Mavia in the 0.3% fee tier, with their token "MAVIA" generated $134,866 for LPs with 9,133 trades. The game has been gaining popularity and now has more than 300,000 players. The token is key to in-game mechanics and has attracted many passive LP with short term strategies
ONDO Finance which has raised from a number of influential funds and is attracting LPs and is poised to be a good LP opportunity with $5K in fees in the last 7 days from 228 trades.
notboring.co/p/clear-street…
Top Pools of the Week
High-Risk
wTAO/USDC & GROK/ETH in the exotic pairs category for the ones feeling adventurous.
As well as ETH/AERO on BASE chain
Low-Risk
If you are looking for low-risk bets, the ETH L1 chain is your best bet.
Safe
Since both ETH and BTC are in up-ward price discovery, being an LP for the two assets can be very valuable.
Predicting the current phase of the bull run is hard, with opinions divided: some maintain a bullish outlook, forecasting Ethereum to climb to five-figure valuations, while others adopt a more cautious stance.
Amidst the flurry of fresh token debuts and a general market upswing this week, the coming weeks could very well become a prosperous period for LPs.
See you LPs next week! 🐠🐡