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Great piece, Anthony. The way you articulated how liquidity works was like a light switch turning on.

Question: as the crypto space continues to mature, and more and more complex derivatives are created, will the nature of liquidity change? One possible way: Can smart contracts provide insurance against “liquidity crises”?

What are your thoughts here?

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Thanks for the article, Anthony. How did you calculate the 2% slippage in $ terms? Is that the +/- 2% depth?

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