Bitfinex's biggest market maker, which accounts for the bulk of DYDX's trading volume, has just how much capital does WINTERMUTE have?
Author: The Block Analyst & NBSP; Igor erdiev
原文标题：《 做市商中的「超级巨星」，Wintermute 究竟有多少资金？ 》
It's a good idea
WINTERMUTE has become one of the largest market makers in the cryptocurrency market, according to current monthly trading volume data. Has become Bitfinex No. 1 market maker on the market, and on a crypto derivatives exchange. FTX They are also very active on the Internet. In addition, by 2020, WINTERMUTE is expected to be in business at dYdX Up to about 40% Transaction volume.
Let's see if we can find any bright spots in WINTERMUTE's Ethereum address.
First, let's start with the address where WINTERMUTE interacts with dYdX, which currently has approximately. $3.4 million in working capital. Also, the address is harvesting the Armor token, using Armor for Uniswap The pool provides liquidity. "Interestingly", we found that this address had once spent 0.2ETH to purchase counterfeit LON tokens.
Next up is Gnosis's multi-money address, which holds $7 million worth of Uniswap LP tokens. We now know that WINTERMUTE is the sole liquidity provider (LP) to the three liquidity pools on Uniswap, Wcusd, Wcelo and Renfil. In addition, WINTERMUTE's Gnosis multi-money address contains 132,000 Perp tokens, 60,000 Lon tokens, and 237,000 Tru tokens, with a total value of approximately $1.4 million.
One of the most important components of the WINTERMUTE infrastructure is the DEX robot, which has at least two versions. Although earlier versions of the Dex robot have been abandoned, the robot address still holds two LP tokens, Mooniswap and 1Inch V2, which are worth approximately Eighteen thousand dollars.
WINTERMUTE's new version of the DEX robot has close to & NBSP; Thirty-five million dollars in capital and bought the value. $1.2 million in SNX tokens. At this stage, there is no evidence that the new WINTERMUTE DEX robot is using MEV, but we do note that the robot is using a sub-optimal gas price bidding strategy. From this perspective, WINTERMUTE still has room to improve in terms of increasing successful transaction rates and reducing fees.
It is worth noting that WINTERMUTE was one of the largest market makers on Tokenion, at least in its early stages. We believe that WINTERMUTE is currently a market maker on Tokenion and that the second version of the DEX robot aims to combine market maker functions with DEX trading.
The WINTERMUTE core address is responsible for trading between CEX and DEX robots. While we can identify and analyze WINTERMUTE deposit addresses, we cannot reliably estimate the value of their assets as tokens are usually transferred directly to CEX Hot Wallet after deposits are made.
Cryptocurrency exchanges that now use WINTERMUTE market makers include:
- Binance ($850,000)
- Binance USA
-Bitfinex
-BitMax
-Bitstamp
-Coinbase (AAVE, BAL, BNT, DAI, LINK, MKR, SNX, WBTC, UNI, USDC, YFI, totaling approximately $6.31 million)
-- Coinlist ($95,000)
-FTX
-Gemini
-Kraken
-Liquid
- fire currency
-OKCoin
-OKEx
Based on these exchanges, we estimate that WINTERMUTE has at least $55 million. They control almost all Renfil, WCUSD and WCELO tokens, and account for the majority of transactions on DyDX and Tokenion. Finally, it is not an exaggeration to call WINTERMUTE an "advanced market maker" because of the deployment of the DEX bot.
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