{
  "sources": [
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/README.md",
      "quote": "Each simulation runs 10,000 steps. At each step:"
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/amm_sim_rs/src/market/router.rs",
      "quote": "let numerator = r * (y2 + gamma2 * total_y) - y1;\n        let denominator = gamma1 + r * gamma2;"
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/amm_sim_rs/src/market/arbitrageur.rs",
      "quote": "/// - Buy X from AMM (AMM sells X): Δx_out = x - sqrt(k / (γ·p)) (profit-maximizing)"
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/amm_competition/competition/match.py",
      "quote": "for i in range(self.n_simulations):\n            rng = np.random.default_rng(seed=i)"
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/amm_competition/competition/config.py",
      "quote": "retail_mean_size_min=19.0,\n    retail_mean_size_max=21.0,\n    vary_retail_mean_size=True,\n    retail_arrival_rate_min=0.6,\n    retail_arrival_rate_max=1.0,\n    vary_retail_arrival_rate=True,\n    gbm_sigma_min=0.000882,\n    gbm_sigma_max=0.001008,\n    vary_gbm_sigma=True,"
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/amm_sim_rs/src/simulation/engine.rs",
      "quote": "// Initialize retail trader with different seed\n        let mut retail_trader = RetailTrader::new(\n            self.config.retail_arrival_rate,\n            self.config.retail_mean_size,\n            self.config.retail_size_sigma,\n            self.config.retail_buy_prob,\n            Some(seed + 1),\n        );"
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/amm_sim_rs/src/amm/cfmm.rs",
      "quote": "//! Implements Uniswap V3/V4-style fee model where fees are collected\n//! into separate buckets rather than being reinvested into liquidity."
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/contracts/src/StarterStrategy.sol",
      "quote": "uint256 public constant FEE = 50 * BPS;"
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/contracts/src/AMMStrategyBase.sol",
      "quote": "uint256[32] public slots;"
    },
    {
      "url": "https://raw.githubusercontent.com/benedictbrady/amm-challenge/6b6921f8d463314aa7c96234e1be25a25245f704/amm_sim_rs/src/evm/strategy.rs",
      "quote": "const GAS_LIMIT_INIT: u64 = 250_000;\nconst GAS_LIMIT_TRADE: u64 = 250_000;"
    },
    {
      "url": "https://raw.githubusercontent.com/dipankar/amm-challenge/c588ae6c47fc9af2063c9bb1f2efbeb0dd276dab/ANALYSIS.md",
      "quote": "The key insight: **fair price is hidden but estimable.** Every trade gives you an implied price."
    },
    {
      "url": "https://www.linkedin.com/pulse/amm-fee-challenge-notes-from-our-run-optimization-arena-qe3ff",
      "quote": "One practical observation was the importance of asymmetric fees."
    },
    {
      "url": "https://www.paradigm.xyz/puzzles/amm",
      "quote": "You will be scored over 1000 simulations with randomized parameters to ensure your solution is robust to market environments."
    },
    {
      "url": "https://raw.githubusercontent.com/jiayaoqijia/amm-challenge-yq/3e9dc7d5a6192c88b562a0f8d9c172ca566ec94d/README.md",
      "quote": "**Higher PHAT_ALPHA** (0.26) — Faster first-in-step price tracking, enabled by the adaptive gate protecting against outlier updates."
    },
    {
      "url": "https://raw.githubusercontent.com/jiayaoqijia/amm-challenge-yq/3e9dc7d5a6192c88b562a0f8d9c172ca566ec94d/RESULTS.md",
      "quote": "Features with |delta| < 0.3 are neutral (within noise)"
    }
  ]
}