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Delta-hedged AMM liquidity provision on Robinhood Chain. Mock UI; nothing is deployed.
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Delta-hedged AMM liquidity provision on Robinhood Chain: pooled vaults that LP a stock token against USDG and hedge the delta on Lighter.
Loading the full README. The saved excerpt is shown below.
AMM liquidity provision on Robinhood Chain
(chain id 4663), hedged or not, as two fungible tokens.
A pooled vault (xAMC) LPs a Robinhood Stock Token against USDG on
Uniswap. A second vault (hAMC) holds xAMC and hedges its delta with a
short on Lighter's Robinhood Chain perp instance, whose settlement contract
lives on the same chain and is owned by that vault. Holding xAMC is equity
beta plus fees; holding hAMC is roughly dollar-stable with an on-chain NAV
floor other protocols can price. Any ratio in between is a mix of the two.Read the full README ↗The full README is unavailable right now. Read it at the original link. The saved excerpt is shown below.
AMM liquidity provision on Robinhood Chain
(chain id 4663), hedged or not, as two fungible tokens.
A pooled vault (xAMC) LPs a Robinhood Stock Token against USDG on
Uniswap. A second vault (hAMC) holds xAMC and hedges its delta with a
short on Lighter's Robinhood Chain perp instance, whose settlement contract
lives on the same chain and is owned by that vault. Holding xAMC is equity
beta plus fees; holding hAMC is roughly dollar-stable with an on-chain NAV
floor other protocols can price. Any ratio in between is a mix of the two.Read the full README ↗