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Clipper Fundamentals

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Last updated 1 year ago

Clipper Traction & Further Info

Revenue: $500k annualized revenue (up 2.5x from Q3). See https://tokenterminal.com/terminal/projects/clipper

Usage: $2.5 billion volume (8.3 billion comparable volume) from 216,000 traders across 2 million transactions with 99,000 LPs. See https://dune.com/shipyard_software/clipper-official.

  • Note that people typically multiply Clipper’s volume by 3.3x to compare it to other DEXs. This is because Clipper’s prices are firm, precluding arbitrage/MEV bots. In contrast, 70% of Uniswap (and other CPMM) volume is arbitrage/MEV bots programmatically reacting to ‘real trades’. Mathematically, 1 / (1-70%) = 3.3x.

Community: 100k+ discord, 120k+ twitter.

Chains: Ethereum Mainnet, Optimism, Polygon, Arbitrum, Mantle, Base, Moonbeam.

Price Competitiveness: Clipper beats 0x API 92.5% of the time on a $10,000 USDC<>ETH trade. See https://docs.clipper.exchange/introduction/why-clipper-has-better-trading-prices

  • Yields: Typically base APYs of 50%+ on ETH/WBTC/USD. Screenshot below from https://clipper.exchange/app/liquidity

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  • Proof of No Impermanent Loss: Zero LVR (Loss Versus Rebalancing is a16z’s metric) since the last deployment in Q1 2023. Screenshot below from https://clipper.exchange/data (Ethereum Mainnet).

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