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Jiawei
@0xjiawei
investing @yzilabs opinions are my own
가입 June 2018
1.5K 팔로잉 중    4.3K 팬
Misha @0xStirol ran a market-making firm before @LiquoriceHQ — core MM on a top exchange, quoting 100+ pairs at once. When his clients started asking for the same thing on-chain, he hit a wall every DeFi market maker knows: you have to pre-fund inventory on every single venue, integrate every solver one by one, and if you need capital you borrow over-collateralized at 14–19% with liquidation risk. Most of that money just sits there, waiting. The insight that stuck with me: the capital isn't scarce. It's idle. The same dollar could settle hundreds of trades a year if it never had to leave the trading perimeter. That's Liquorice. LPs deposit into one shared pool. Whitelisted market makers borrow just-in-time to quote across CoW Swap, Kyberswap, OKX Web3 and more from a single integration — and the borrowed capital can't go anywhere except settling the trade. The counter-leg lands back in the pool, ready for the next MM. In public alpha, $1 of LP capital was turning over roughly 700x a year: $50M+ settled across 3,000+ trades in under four months, live on ~98% of days, with top CoW solvers routing through it. Misha trained in auction mechanism design before he ever touched a market, and his co-founder Toly scaled an institutional crypto liquidity platform to ~$3B monthly notional. There aren't many teams who understand both the game theory and the plumbing. Very proud to back @LiquoriceHQ in our @EASYResidency S4. Follow @0xStirol for more.
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