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*Gauntlet enters the 🦄 Arena*

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Sep 19, 2020

Gauntlet is excited to be a quantitative-minded protocol politician for $UNI / @UniswapProtocol If you're interested in scientific, automated governance based on risk research, delegate to us below 0x6626593C237f530D15aE9980A95ef938Ac15c35c app.uniswap.org/#/vote

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''Our team also wrote the first peer-reviewed, academic paper on the Uniswap protocol'' Sorry, that makes them sound a lot like ADA/Cardano, whose only selling point was ''we phds''. I like your insights so this is by no means an attack. What makes them different?

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and

Quite different! A year ago, most traders such as

@SBF_Alameda

and

@cmsholdings

didn’t believe Uniswap could work / made sense to trade on. We spent time showing that these markets can work under some conditions familiar to structured products traders.

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I still don't think AMMs really make sense long-term ;)

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except that they seem like: a) useful vehicles to drop yield in b) useful vehicles to make the default action "price doesn't move" c) good at tricking unsophisticated traders into thinking IL is less bad than just a loss

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Our vision of the future for Uniswap is that it becomes a place where anyone can easily make a structured product as an LP share, democratizing Goldman’s structured products desk

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oh yeah I think that's totally awesome!!! Also that's one of the use cases of Pools, coming out this week on Serum :)

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And in generally I agree that the generalization of AMMs--as baskets that have configurable behavior and people can go in and out of freely--is super powerful. I just think the current model (slow, expensive, forced 2-way liquidity providing on a dumb model) isn't great.

7:46 PM · Sep 19, 2020Twitter Web App

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฿izWiz

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Without sugarcoating it, it's a pain in the ass. I wish to see an AI kyber fpr.

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I tend to agree with you. I love the idea, but it's still in experimental phase imo . Those amms seem more sophisticated than they are and most people have no idea what they are doing and how to evaluate r:r properly. That doesn't stop me from being bullish long term, tho.