Mock LP book — GLD / USDG
Paper positions, no capital at risk. Fees accrue from real on-chain swaps:
your share = Lyou / (Lpool + Lyou) on every swap that prints inside your band.
connecting
The rotator experimental
Every 30 minutes it scores each candidate LP by the fees a $1 position would actually have
earned in that band, takes the worst of the 1h and 6h lookbacks so one burst cannot win it, and moves
the whole book into the leader — paying a real swap cost each time it switches.
Core positions
Net = position value + fees accrued − notional. “vs HODL” compares against simply
holding the entry basket of USDG + token. Out-of-range positions stop earning until price returns.
Stock / USDG — every tokenized-stock venue that trades
133 stock/money pools are live on the chain. The deep ones (SPY at $3.47bn, AAPL at $961m)
pay nothing — 0–2% APR. The yield sits in the small, high-fee ones.
Meme / Stock — the barbell pairs
440 of these exist. Most route through a hook, so LP entry is not the canonical
PositionManager — they are tracked here to measure, not necessarily to enter.
Stock / Stock
20 pools, and they earn almost nothing — 0.05% fee tiers against deep books. A V3-era census
found zero of these; they exist on V4 now.
Census — highest sustained APR, any pair swept live
Found by sweeping every V4 swap on the chain, pricing each pool against its USDG or ETH leg,
and ranking on the worst of the 10-minute, 1-hour and 6-hour APR — a pool has to be earning in all three
windows, not just the one that flatters it. None of them are tokenized stocks.
Dust controls — uninvestable by construction
These print six- and seven-figure APRs because they hold $33–$755 of liquidity against six figures
of volume. They are in the book to be watched failing: the yield is real arithmetic and completely uncapturable,
because any size you add changes the thing you measured.
Safe — wide bands you never touch
Skewed — market making with a lean
A band that is not centred on spot. "skew buy" starts mostly USDG and accumulates the token
as price falls; "skew sell" starts mostly token and sells into strength.
Hedged — LP plus a paper short on the perp
The short is resized when the delta drifts more than 25%, paying 8.64 bp taker each time —
the rate xyz:GOLD actually charges. Net includes realised hedge P&L, funding received and those fees.
Degen shelf high risk
Ultra-tight bands die on any move. One-sided ladders are limit orders, not market making —
the buy ladder is 100% USDG waiting to be filled into GLD on a drop, the sell ladder is 100% GLD waiting to be sold into a rip.
Memecoin-paired pools charge 1.5–20% but your counter-asset can go to zero, and the position is marked
against the pool's own price, which is the only price that exists for these tokens.
Pools
Contracts