Ekubo
@EkuboProtocol
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The final AMM - coming soon. Swap, provide liquidity, and view stats at https://t.co/2VIXnO28Tl
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Joined June 2023
The final AMM. Today, we unveil Ekubo V3 - the most efficient, decentralized, and licenseable AMM architecture to date. After several iterations the creator of the most successful AMMs has designed what is the last AMM that needs to be written. Let us explain ๐งต๐
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6/6 Soon, any AMM team will be able to start from day one with sufficient liquidity, integrated into aggregators and available tooling, all while offering best-in-class efficiency. To dive even deeper, check out the whitepaper at: https://t.co/Zb9WgmQMxg And stay tuned - V3 is
hackmd.io
Most AMMs today follow the same pattern:
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5/ From a userโs point of view: - different licensees will feel like different venues or frontends, each with its own economic model and features, - but at a low level they will all be trading against one shared set of pools in the same Core contract, which directly results in
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๐ฅถ Say goodbye to freezing hands. Water and windproof. Great for use with touch screen devices. Get it now: https://t.co/FTIoYl3alh
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4/ The configurable protocol fee parameter lets licensees take a share of LP fees without changing Core itself. Each licensee can thus have its own economic model - but with a caveat: if a licensee chooses to take a fee, it must share part of it with the Ekubo DAO. The fee
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3/ On-chain licensees will interact with Core directly from their frontend or contracts, or via thin helper contracts that batch or wrap user flows. Many licensees will also opt to deploy the standard positions contract that ships with Ekubo V3, which: - manages user liquidity
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2/ What licensees donโt need to do is worry about liquidity, curve logic, optimization, or AMM math - all of which is stored safely in the audited Core contract.
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1/ With Ekubo V3, multiple independent teams can become licensees of the Core implementation. As such, they can: - operate their own frontends and branding, - choose their own revenue model and fee recipients, - curate asset lists, default pools, and guardrails for their users.
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Imagine deploying an AMM instantly with: - industry-leading gas efficiency, - established liquidity, - aggregator and tooling integrations, - extensions like on-chain DCA and oracles. Very soon, this wonโt just be something to imagine.
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Our $183,500 competitive audit with @code4rena ends December 10th! Thanks to all the wardens submitting vulnerabilities for a share of the prize pool. Looking forward to seeing everyone's findings!
Heads Up Wardens: the @EkuboProtocol competitive audit ends December 10th! There's still time left to submit your findings for a share of the $183,500 prize pool!
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Ekubo V2 is 25% more gas efficient compared to its competitors. Ekubo V3 will widen that gap by another 20%. This is next-level endgame optimization. But how?
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Historically when some investments falter, gold has outperformed many major asset classes.
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๐จ PSA #2: Starting today, all Starknet DeFi Spring incentives for existing USDC.e pairs will be moved to their corresponding USDC pairs. If you are supplying liquidity to an old USDC (now USDC.e) pair on Starknet, make sure to migrate your liquidity to the new USDC pair to
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๐จ PSA: Native @USDC has officially arrived on Starknet! This native release delivers a regulated, fully reserved digital dollar with seamless institutional on/off-ramps, cross-chain interoperability, and true 1:1 capital efficiency. The existing bridged USDC on Starknet (now
USDC and CCTP are now live on @Starknet! Developers, DeFi users, and market makers on Starknet can now access the worldโs largest regulated stablecoin for a range of use cases: โ DeFi trading: Power spot and perpetuals trading with collateral and 24/7 settlement on DEXs โ
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8/8 To get the bigger picture make sure to check out the whitepaper. V3 is closer than you think. ๐: https://t.co/Zb9WgmRkmO
hackmd.io
Most AMMs today follow the same pattern:
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7/ The result of countless optimizatiosn is that the marginal gas cost of a swap or action is dominated by economic necessities (price discovery, fee accounting) rather than by avoidable overhead. As such with sufficient liquidity, routers will always choose Ekubo over competing
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Something weird I learned about decision making: If you can't decide, the answer is no. If it's not a clear yes, it's a no. Maybe is just no with anxiety. Let me think about it is no with hope. Clear opportunities don't require convincing yourself. The right things feel obvious.
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6/ A concrete example of one of the numerous optimizations is the way Core represents price: - instead of a fixed-point type, Core defines a custom floating-point-like representation with a 2-bit exponent - this allows liquidity and the square-root price to be packed together
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5/ At a high level critical state is bit-packed into as few storage slots as possible (reducing both reads and writes). Hot paths are implemented using carefully written low-level arithmetic, while respecting clear invariants. Rounding is always chosen to favor the pool -
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4/ Gas is the scarcest resource. Ekubo Core is engineered with the central design objective of making it extremely difficult to build a a more gas-efficient AMM.
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3/ As such the curve logic and pool mechanics live in Core itself. This keeps the hard part (the AMMs correctness and efficiency) in one place that is audited for correctness, while still allowing for many different products to be built on top of it.
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๐จ JUST DROPPED: For all the talk about efficient energy to power AI data centers, the U.S. still has no serious plan to bring fusion energy to the grid. - Yet the physics has crossed its tipping point. - Billions in private capital are flowing. - Demand for firm, clean power
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2/ Ekubo Core encodes a AMM design, more concretely a constant-product AMM with concentrated liquidity over user determined price ranges with a very fine tick size of 1/100th of a basis point.
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1/ Like V2, Ekubo V3 will use a singleton contract architecture. With singleton architecture, all pools exist within a single smart contract - Ekubo core.
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Ekubo V2 is 25% more gas efficient compared to its competitors. Ekubo V3 will widen that gap by another 20%. This is next-level endgame optimization. But how?
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