I was surprised to see a tweet by @AnthonyLeeZhang that referenced a short paper showing liquidity providers (LPs) making money on Uniswap's ETH-USDC pool, as I have noted that Uniswap LPs have been losing money consistently since they began. I initially thought there was a mistake, but I found his metric of PNL is ultimately identical to mine.
Uniswap V2 Made Money. What Happened?
Uniswap V2 Made Money. What Happened?
Uniswap V2 Made Money. What Happened?
I was surprised to see a tweet by @AnthonyLeeZhang that referenced a short paper showing liquidity providers (LPs) making money on Uniswap's ETH-USDC pool, as I have noted that Uniswap LPs have been losing money consistently since they began. I initially thought there was a mistake, but I found his metric of PNL is ultimately identical to mine.