1/ We raised $9 million to build an easy-to-use AMM discovery platform. Read more about it on . Special thank you to for leading our Series A funding around and for their continued support.
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Primitive ™
@PrimitiveFi
On a mission to build the best liquidity experience.
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Joined March 2020
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The invariant.sol file leverages the solstat library to test computation of the invariant of the RMM-01 trading function `k = y - KΦ(Φ⁻¹(1-x) - σ√τ)` which uses the CDF and PPF functions (denoted Phi and Phi inverse).
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These distributions are used to model Markovian processes, which can be utilized to model price movement. We hope this library is useful to the community!
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Solstat supports the computation of normal gaussian distributions like the Cumulative Distribution Function (CDF), Percent Point Function (PPF), sometimes known as the quantile function, and the error and inverse error functions.
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We leveraged Foundry's differential testing to test against the existing Gausian.js library. Foundry works like a charm for libraries like these.
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Today Primitive is open-sourcing solstat, a mathematical approximation library for statistical functions written in solidity.
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Been working on these a long while. Excited to showcase the awesome Echidna suite we did with | 🥳
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The 5th stream on how fuzz smart contract is tomorrow, at 12pm ET (twitch.tv/trailofbits). The difficulty will increase, so watch the first streams if you want to be ready: youtube.com/watch?v=QofNQx
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1. 🌟 New Defi Product Alert 🌟
Over the summer, and I worked on a DOV on 's RMM, a special type of AMM.
We've open-sourced the code - RMM-02 is rumored to launched on early next year - if anyone wants to take it forward, please reach out!
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Sam gives an in-depth analysis on L2 Networks and Sidechains such as Arbitrum, Optimism, and Polygon to answer the question: where should I provide liquidity?
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Are Layer 2 Networks Good for Uniswap Liquidity Providers?
primitivexyz.substack.com/p/are-layer-2-
In a @PrimitiveFi blog post, I compare the fee return of Uniswap V3 pools deployed on Ethereum, Polygon, Arbitrum and Optimism.
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🧐While working on delivering the best liquidity experience we uncovered some knowledge on impermanent loss. t.co/U0gq22IZrb
This Tweet is unavailable.
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3/ We are grateful to the white hat community, whose diligence in reporting vulnerabilities helps us build the most secure products and infrastructure. You can see our bug bounties on
at immunefi.com/bounty/primiti.
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2/ RMM-01 was to be absorbed into our next product early next year, but we decided to sunset the protocol early due to the recent math approximation error. primitive.xyz/blog/rmm-01-ma
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1/ We want to thank everyone who interacted with RMM-01 in any way, shape or form. Launching RMM-01 was an incredible experience for our team, and we are using what we learned through RMM-01 as we build our next product.
primitive.xyz/blog/sunsettin
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Happy to announce that Sam joined the Primitive team full time to lead our protocol's MEV awareness designs.
Sam shares Primitive's mission in capturing the profits created by MEV and redirecting them to the originators: liquidity providers. 🔥
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I'm excited to share that I've joined the amazing team @PrimitiveFi!
I'll be continuing the work that I started with @SlotZero_HQ within Primitive: transferring miner payments (arbitrage profits) to liquidity providers.
We've been heads down building since I started in August.
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Correction:
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3/ Primitive is hiring motivated, talented individuals with deep knowledge in their fields. Our team is based in New York, but we have employees across the globe. Apply here:
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2/ For early access and exclusive details on our next release, drop your handle in the form on our homepage.
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3/ "Understanding user activity is key to driving data-driven decisions to improve user experiences. Filtering out inauthentic transactions can also help protocol engineers build more accurate reward systems for early users." -
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2/ Given a contract address, 's protocol-agnostic open-source script will filter out likely Sybil transactions. This gives protocol engineers a clearer understanding of user activity.
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1/ In "Sybil detection on DeFi protocols," introduces Sybil attacks, why protocol engineers care and proposes a solution for filtering Sybil transactions.
primitive.xyz/blog/sybil-det
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7/ Further research will explore optimization of the implied volatility parameter's impact on liquidity depth to provide a comparison between statically concentrated liquidity AMMs and RMM-01.
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6/ RMM-01 does not provide symmetrically concentrated liquidity. ETH to USDC swaps only leveraged 5% of the pool's USDC reserves, while USDC to ETH had much larger usage, around 10-20% of ETH reserves. In this pool, liquidity was more concentrated around ETH reserves.
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5/ To measure dynamically concentrated liquidity, employs a kernel density estimate (KDE) tool to estimate the pool's liquidity distribution at different points in time.
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4/ The pool achieved a total swap volume of 1,325,570 USDC, collecting 13,548 USDC in fees over its lifetime. With 945,759 USDC in total liquidity at expiry, this represents a 140% volume/liquidity ratio at a 1% swap fee.
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3/ We compared pool performance to a static portfolio equal to the composition of pooled assets at creation. The static portfolio returned +12.249%, while the RMM-01 portfolio returned 12.596%, outperforming the static portfolio by over 0.3%.
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2/ A pool active from July 5-10 was initialized at a market price of 1107 USDC/ETH with a strike price of 1250 USDC. Over 5 days, the market price of ETH climbed to 1250 USDC and stayed perfectly within the pool's dynamic concentrated liquidity.
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1/ analyzes RMM-01 as a dynamically concentrated liquidity AMM in the latest RMM-01 Performance Update.
primitive.xyz/blog/rmm-perfo
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what's primitive up to? we are making better products
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Interested in seeing how AMMs have evolved in the past year?
In part 2 of this three part research series, we go over 2nd generation AMMs that are most currently talked about:
• V3
• V2
• TWAMM
• (RMM)
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4/ On the add liquidity view, check out the new pool details and descriptions:
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3/ View the highlighted pool's total fees earned at a glance:
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2/ Try the new UI here - app.primitive.xyz
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1/ Feel confident when you provide liquidity to Primitive. We updated the interface to include comprehensive details on pools so you can develop an informed LP strategy.
Read about the Primitive UI changes and let us know what you think! primitive.xyz/blog/app-minor
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3) Keep tabs on Primitive! is working with the rest of the team to create the friendliest products in DeFi. We've got some exciting new stuff just around the corner 😉
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2) is a self-proclaimed "never Web2 designer." He has a passion for providing users with sleek interfaces and exceptional experiences. He helped design the Primitive App!
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1) We are proud to work with an incredibly talented team. This week, learn what drives designer to build some of the best UX for Web3. primitive.xyz/blog/royce
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