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Method

These analyses seek to determine how often HyFi will be chosen by traders and estimate the kind of initial market share that can be expected. Routers and aggregators generally just pick the pool with the best price for the user, so we look at, for a given trading pair like ETH-USDC, how often HyFi has the best price compared to every other ETH-USDC Uniswap (any version) pool on the same chain with non-negligible liquidity. To do so we run a benchmarking script that simulates — in a single transaction, so all prices are quoted at exactly the same time — a buy and a sell for amounts equivalent to $10,000, $1,000, and $100 (to give the ‘real’ effective price that includes slippage and fees), on HyFi and every other Uniswap pool for that pair (typically 3–5 pools). That simulation runs every 10 seconds over multiple days, giving a dense, real-market picture of relative pricing.