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Chainsight Profile picture
Chainsight
@ChainsightLabs
2 subscribers
Oct 12, 2022 • 5 tweets • 2 min read
1/ @GMX_IO's price oracle updates can be abused by toxic MEV bots, able to extract ~10% of total protocol profits (>$260,000 over last 40 days).

Bots viewing the @avalancheavax mempool can buy assets from GMX immediately before price increases, and sell them back for profit
👇 Image 2/ GMX differs from traditional AMMs by offering zero slippage on trades via an oracle price update system. Differing from AMMs like @Uniswap, which relies on arb bots to properly balance prices in their pools, GMX updates the prices of assets themselves via these oracle updates
Jan 31, 2022 • 4 tweets • 2 min read
1/

KP3R @thekeep3r project (via @AndreCronjeTech's FixedForex) is solving such a unique pain point in crypto, but no one is talking about it.

Why? Only big brains seem to understand the problem!

Below is some alpha we would like to share that we haven't seen discussed.

🧵👇 2/

Problem 1: With EVM, nothing can happen without *someone* sending a tx (and paying for gas).

But protocols want things to happen automatically—liquidations, auto-compounding yield farms, lending upkeep, rewards distributions, earmarking checkpoints, twa*, metawallets, etc.
Jan 18, 2022 • 8 tweets • 5 min read
1/ Long-Tail Miner Extractable Value (LTMEV) is one of the most secretive phenomena of DeFi.

Unlike liquidations and arbitrage, the strategies required for LTMEV are very specialized/require deep knowledge of protocols.

@ConvexFinance released $157K in LTMEV over 8 months🧵👇 2/ A quick primer—@ConvexFinance exposes a form of LTMEV when compounding must occur on their CRV rewards.

@ConvexFinance incentivizes callers to compound the CRV by giving them 1% of the CRV.

Only when $CRV received > $ETH spent does it make sense to call earmarkRewards()!
Jan 11, 2022 • 6 tweets • 7 min read
1/

Recently, @chainlink whales removed over $55M $LINK from @Uniswap v2 and @Sushiswap LPs. As a result, @Bancor now owns over 80% of $LINK on ETH L1 DEXs.

However, did this "liquidity monopoly" result in more trade volume, and thus more fees?

The answer may shock you🧵👇 2/
In prior analysis, we were only tracking @Bancor, @SushiSwap and @Uniswap v2. Now we also track @Uniswap v3 and @BalancerLabs.

Still, @Bancor owns over 80% of $LINK on ETH L1 DEXs.

@Bancor's liquidity growth on $LINK was massive vs. competitors over the last year.
Jan 9, 2022 • 4 tweets • 2 min read
1/ @thekeep3r KP3R will soon be transitioning to a new ve(3,3) model. It's kind of a big deal, but no one is talking about it. But what does it mean? Let's break it down 👇🧵👇 Image 2/ KP3R token is the fee-bearing asset for 4 (for now) @AndreCronjeTech projects. In order to claim fees, the KP3R must be locked, and the locker receives vKP3R in return. dune.xyz/embeds/271075/…
Nov 10, 2021 • 16 tweets • 10 min read
We previously shared that @Uniswap v3 enables a new type of MEV attack — Just-in-Time (JIT) Liquidity Sandwiching, which has siphoned >$1M USD in profits away from non-mempool-aware Uniswap v3 LPs. Reactions to this discovery have been mixed... 👇
dune.xyz/ChainsightAnal… From @Uniswap — "it's a powerful feature", "LPs should plan accordingly", to...
Nov 9, 2021 • 5 tweets • 4 min read
1/ @Uniswap v3 introduces a new form of MEV attack — Just-in-Time Liquidity (JIT), that allows LPs to add and remove concentrated liquidity positions atomically in one block. Sophisticated actors are running JIT bots to sandwich trades, to the detriment of pre-existing LPs 👇🧵 2/ Using @DuneAnalytics, we find the @Uniswap positions that are added and removed in the same block for the same LP. From this, we calculate the revenue from the fees of the sandwiched trade, and subtract the gas costs required to perform the JIT attack:dune.xyz/embeds/233623/…
Mar 13, 2021 • 11 tweets • 5 min read
1/ Impermanent Loss doesn't have to be this mythical phenomenon, such that it may only be explained clearly in a universe where Unicorns might live. No, today we pull back the curtain and present a tool to visualize and analyze impermanent loss by asset & investment time horizon. 2/ First, a quick primer on Impermanent Loss - it occurs when the price of either asset changes after you've initially supplied liquidity (as you hope it does, since price changes are how a liquidity provider actually earns fees). Or, to take it straight from the Unicorn's mouth:
Feb 20, 2021 • 10 tweets • 5 min read
1/ Bancor Network's unprecedented volume share growth cannot be understated, and has been explored very little in a quantitative sense so far. We don't do ~ALphA LeAKs~, but keep scrolling for an update on the thread below to understand why BNT is still massively undervalued. 2/ Previously, we explored the difference between the 1inch referred volume to various DEX's on LINK, and saw how there was a massive gap between Bancor's expected (31%) vs. actual (8%) volume share. We surmised massive volume share growth was imminent.
duneanalytics.com/embeds/17349/3…