Legato Orchestra

Went smooth 😎

Our lead developer @LegatoOrchestra shared his expertise in an interview article with @CoinBraincom. Check it out! 🎙️👀 Recently, Coinbrain has supported XRP Ledger on its analytics site, making it easier for any user to grasp the broader picture of #XRPL. coinbrain.com/chains/xrp-led… coinbrain.com/blog/introduct…

🎉 Big news! 🎉 We’re excited to announce that CoinBrain now supports the XRP Ledger! Explore the XRP ledger and & analyze #XRPL tokens like never before with CoinBrain. Cc @RippleXDev Check it out now 👇 coinbrain.com/blog/explore-x…

@fredostat @OrchestraFi @illneil @dexfi_pro It's valid if you only care about token amounts and not their USD worth. You can get 999% APR based only on XYZ token amounts ignoring the fact that XYZ token might be worth $0. Or you can say that APR is 0% based on XYZ USD worth. Most (all?) DeFi projects settled on the latter.

@OrchestraFi @illneil @dexfi_pro Is his point valid or not though? Saying others do it too, shouldn't be an argument.

Hey @OrchestraFi, your 24 hour volume is wrong and the APY calculation even more so. 📉 This is a serious problem if you show the user more than ~50 times the actual APY! Users deserve transparency and accurate information when investing. We're here to help if you need help troubleshooting this issue! Same goes for you @xpmarket. You are no so far away but also incorrect #Crypto #Transparency

@EgissonW @OrchestraFi @dexfi_pro You'd still have fluctuations in that case, just relative to XRP instead of fiat USD. Honestly we're not really reinventing the wheel here, we do what pretty much every other AMM on other chains does in terms of APR (usd24hFees * 365 / TVLinUSD).

@OrchestraFi @dexfi_pro Shouldn’t you have a rate of return based on XRP fee value and returns (ie no conversion to fiat otherwise you’d have to take into consideration the fluctuations of its market underlying fiat value during that time period)

The deposit page is temporarily disabled:

@panosmek @hazardcookie @Vet_X0 The reason is in GM3 AMM you can simply add single asset to the pool, the only thing to calculate is amount of LP tokens to return. If AMM instead did actual swap it is like 100x more work and the end result is exactly the same (i.e. you swapped, you paid a t fee, you deposited).

@hazardcookie @Vet_X0 The most important question is: is there any reason why it's not technically a swap that goes through the AMM+CLOB?

I was wondering why did that happen, since there was plenty of liquidity on the CLOB DEX that should prevent it, and I just learned that single-sided deposits only go through the AMM 😳 Normally there is two-way interoperability between the AMM and CLOB and when swapping it automatically finds the best paths to swap. My question is why aren't single-sided deposits (since it involves a swap and swaps 50% of the asset for the other) integrated with the CLOB as well? If there is an issue and can't be done technically I can understand, but if not, it's a flaw in the system and needs a fix amendment since it basically renders that feature useless and dangerous, especially for low liquidity pools or big single-sided deposits. @JoelKatz @jazzicoop @msvadari

@hazardcookie @BradPunkhouse @panosmek @Vet_X0 3. Price impact would be the same if you decided to do equivalent swap + deposit. You must understand that you're willingly destroying the pool and opening your funds to be arbitraged against you.

@hazardcookie @BradPunkhouse @panosmek @Vet_X0 2. Under the hood there are no real swaps, it's all basically done in pure math, and therefore you don't need liquidity for this, hence it doesn't look at CLOB.

Be sure to tune in on Monday, March 25 at 1 pm ET for a @RippleXDev X space!🎙️ @joelkatz and @jazzicoop will be joined by @AxelarNetwork and @OrchestraFi to discuss XLS-30. Explore AMM integration on the #XRPL, core features, use cases, interoperability and more!

The XRP Ledger Automated Market Maker will become active in ~ 53 hours ! Later today i'll have a space with 🍄 @0xhotchocolate and one of the great devs 🧠 behind Orchestra @LegatoOrchestra to talk about How To XRPL AMM as a user! It's going to be musical 🎻

@ShortTheFOMO Discount fee is just a special trading fee for auction winner. It's currently 90% discount on devnet. E.g. if pool's normal trading fee is 0.2%, discount fee would be 0.02%. It works exactly the same as normal trading fee, i.e. in all swaps and single-sided deposits/withdrawals

seems like the discount is to get into that single sided asset side of these pools.

@OrchestraFi what is this discounted fee, where is it defined? xrpl.org/ammbid.html assume this "trading" agains the AMM is simply Deposit and Withdraw?

@ShortTheFOMO Yes, by that time you've already been arbitraging for 24 hours, so you've utilized what you paid for. You also don't get any refund if 24 hours passes even if nobody outbids you. Refund is in place to compensate for the time you did NOT receive.

what does this mean here, so if I have a active bid and when its finally down to the wire, if some one out bids me I get 0 back?

@ShortTheFOMO @OrchestraFi @aanchalmalhotre @RippleXDev We will run our own node on the mainnet for all querying we need for UI. There will be an option to switch to any other node in case ours is not responding for some reason. We don't want to rate-limit ourselves with public infra or DDoS it :)

@OrchestraFi @aanchalmalhotre @RippleXDev This is less about the interface but more about the nodes and understanding some pit falls. I and a few others are worried around load so some way to push those queries past the default nodes would be appreciated and I think rewarded with votes.

There are a lot of AMMs out there, but this one is not just an AMM, it's an ✨innovation✨ - @aanchalmalhotre, Head of @RippleXDev Research

@JTXRP_AGWJames Exactly 🙂

@LegatoOrchestra Thank you for the great post! So as I understand it. … auctions have the ability to help mitigate impermanent loss but it’s not guaranteed to what degree that mitigation can occur.

So you've heard about Continuous Auction Mechanism ability to reduce impermanent loss, but how that actually works? Let's go through example of two AMMs - one without auction and one with auction. 🧵thread 👇

@TommyBa00075381 In both cases fees affect IL the same way, if you got extra $100 via fees your IL would decrease by $100. AMM with auction would get a little less fees because arbitrageurs have discounted fees, but usually arbitrage trades are not the majority of the trading volume.

@LegatoOrchestra But what about fees earned from being in LP to offset losses??🫣🫣🤔🤔

For average users this all happens in the background, you don't even need to pay attention to auctions.

Arbitrage traders surely lose some funds when bidding for an auction slot, but the whole point is for them then utilize discounted trading fee to execute arbitrage trades more efficiently, so they will turn net profit in the end, assuming their arbitrage strategy is good.