Opinion: The LP set by YZY developers can cause traders to have an implicit fee rate of 4-5% due to excessive step lengths

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On August 21st, according to crypto KOL @0xBiZzy, the LP set by YZY developers earned nearly $10 million in fees within just a few hours. More notably, their LP Bin Step (price range) was set to 100 instead of the usual 50, causing the implicit fee rate for traders to reach 4-5%.

This means that the total fees for traders to fully enter and exit would be around 10%.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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