Preprint
Aug 2026
Viable Pool Sizing for On-Chain FX Liquidity: Amplification, Capital, and Resilience
Financial institutions deploying on-chain FX liquidity face a joint design problem: how much capital to commit, and how to configure the pool, to remain both competitive on trading costs and profitable as a liquidity provider? The StableSwap mechanism (Egorov, 2020) interpolates between constant-product (CPMM) and cons...
Ryan Fang, Ivan Bardziyan, Jessica Wang et al.
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