Breaking the opponent's position is not the main way for the market maker to make money; having enough opponent positions is. A good article should be shared.


The difficulty for the dealer in manipulating the market lies in inducing enough opponent positions.
Extreme negative fee rates like $Rave are basically a printing press for MM; as long as the hedging is in place, they can push the price any way they want and aggressively accumulate.
This is the most stable, compoundable core profit, followed by liquidation and distribution profits.
The risk is platform intervention.
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AltcoinMayDumpAtAnyTime.
· 2h ago
Expertly insightful
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