mirror of
https://github.com/lux-apps/papers.git
synced 2026-11-03 05:07:46 +00:00
zeekay
abf99d05fc
Restructured from flat .tex/.pdf files into per-paper subdirectories. Added Antje Worring as co-author on all papers. Synced PDFs to pdfs/ for download site.
52 lines
1.6 KiB
TeX
52 lines
1.6 KiB
TeX
\section{Mixed FT/NFT Liquidity Pools}
|
|
|
|
|
|
\subsection{Pool Types}
|
|
|
|
QuantumSwap supports three pool configurations:
|
|
|
|
\begin{center}
|
|
\begin{tabular}{lll}
|
|
\toprule
|
|
\textbf{Type} & \textbf{Assets} & \textbf{Use Case} \\
|
|
\midrule
|
|
FT/FT & Two ERC-20 tokens & Standard AMM \\
|
|
FT/NFT & ERC-20 + ERC-721 & RWA token trading \\
|
|
NFT/NFT & Two ERC-721 collections & Cross-collection swaps \\
|
|
\bottomrule
|
|
\end{tabular}
|
|
\end{center}
|
|
|
|
\subsection{FT/NFT Mechanics}
|
|
|
|
In an FT/NFT pool, the NFT side is treated as a discrete quantity
|
|
while the FT side is continuous. The bonding curve operates on the
|
|
NFT count, producing FT prices. This enables trade sequences like:
|
|
|
|
\[
|
|
\text{FT} \xrightarrow{\text{Pool A}} \text{NFT}_1
|
|
\xrightarrow{\text{Pool B}} \text{NFT}_2
|
|
\xrightarrow{\text{Pool C}} \text{FT}'
|
|
\]
|
|
|
|
Each hop uses the bonding curve of the respective pool. The router
|
|
contract finds the optimal path across available pools.
|
|
|
|
\subsection{Capital Efficiency}
|
|
|
|
Concentrated liquidity in QuantumSwap achieves up to $4000\times$
|
|
capital efficiency over Uniswap V2's uniform distribution, consistent
|
|
with the analysis in Adams et al.~\cite{uniswapv3}. The improvement
|
|
comes from restricting liquidity to a narrow price range rather than
|
|
distributing it uniformly from zero to infinity.
|
|
|
|
\begin{remark}
|
|
The $4000\times$ figure is a theoretical maximum for a single tick
|
|
range. Practical improvement depends on the LP's price range selection
|
|
relative to realized volatility. Empirical data from Uniswap V3
|
|
shows typical improvements of $4\times$ to $8\times$ for actively
|
|
managed positions.
|
|
\end{remark}
|
|
|
|
%% ============================================================
|