2 posts tagged with "capital-efficiency"

Multiswap creates unified liquidity markets for entire asset classes, then composes those markets into broader liquidity products. The fastest path to commercial traction begins with USD.cav: a curated USD market that wins a published execution matrix and gives every included Reserve Asset direct access to the same pool liquidity.

The commercial objective is concrete:

For a defined asset cohort and a defined set of trade sizes, Multiswap delivers the best net executable quote and earns organic routed volume.

Total value locked supports that objective. Execution quality, routed volume, fee revenue, and repeat usage measure the win.

Multiswap places a universe of $n$ Reserve Assets in one pool. This article compares its marginal execution-price impact with an equivalent Uniswap v2 star containing the same assets, initial relative prices, and aggregate initial reserves token for token.

The universe contains $n-1$ assets $A_i$ and one generic stablecoin called $\mathrm{USD}$. The first comparison studies a trade $A\to\mathrm{USD}$. The second studies an $A\to B$ trade, which Multiswap executes as one interaction while a Uniswap v2 star routes through USD.

For equal starting universes, the Multiswap execution-depth advantage is

The advantage increases with the number of assets $n$ and the scale elasticity $e_s$. Multiswap reaches parity with Uniswap v2 at

For the $A\to B$ comparison, the Multiswap advantage in the receive-side $B/\mathrm{USD}$ execution-price response is