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A couple Qs about the term "de-peg": 1) I've heard it
said that pools can be "de-pegged". I get the impression that this means the pool state has strayed far from the "middle flat state" of the bonding curve. Is this impression correct?
2) Is "de-peg" a binary state with a fixed threshold? Or is it a continuous thing, and pools become "a bit de-pegged" and "more de-pegged" as they stray away from the middle state.
3 ответов
Depeg has to do more with the asset prices themselves. It is not necessarily a pool property. If you have two coins that are paired against each other, say usdc and usdt, and one’s value drops relative to the other, the stablecoin ‘depegs’. It ‘repegs’ when the market buys the depegged coin. The pool plays a very a smol hand depending on its share of the global liquidity of those two coins in exchanges.
Kevin
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Depeg has to do more with the asset prices themsel...
Ah nice, thanks Fiddy. If a pool goes a long way along the x or y axis of the bonding curve, we'd say the pool is "imbalanced" then?
Ah nice, thanks Fiddy. If a pool goes a long way a...
yes we can say this. in principle a pool goes either way because the market strays or the parameters were not correct. you can take advantage of that sometimes but in general it is a good idea to have conservative parameters. The amm is a hybrid between constant sum and constant product, and there's this point which we call the shoulder of the bonding curve where it transitions from one to the other quickly (depending on the amplification factor).
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