Archive - POL Finance Blog

When the Pool Fights Back (Part II): Approximating Equilibria in Complex MFGs

Trapped between two shores: bounding liquidity games when theory fails.

15 hrs ago •

Agustín Muñoz González

When the Pool Fights Back (Part I): Modeling Liquidity with Transaction Costs

Exploring how a simple tweak such as adding transaction costs turns a tractable mean field game into a complex dance of strategic interaction.

15 hrs ago •

Agustín Muñoz González

What if Uniswap Was a Game?

Modeling Liquidity Pools with Mean Field Thinking

15 hrs ago •

Agustín Muñoz González

Impermanent Loss from a Quantitative Perspective: Static Replication and Hedging via Options

A mathematical breakdown of impermanent loss in AMMs and a static replication strategy using European options.

15 hrs ago •

Agustín Muñoz González

July 2025

Orbital: A New Frontier in Stablecoin Liquidity

Jul 15 •

Agustín Muñoz González

April 2025

Building Agent-Based Models for DeFi: A Practical Bottom-Up Guide

How we use ABMs to explore complex systems like MEV extraction, starting from first principles

Apr 11 •

Agustín Muñoz González

March 2025

Static Hedging of Impermanent Loss in Constant Product AMMs

Replicating LP positions with options to reduce risk and improve capital efficiency

Mar 31 •

Agustín Muñoz González

#nojs-banner { position: fixed; bottom: 0; left: 0; padding: 16px 16px 16px 32px; width: 100%; box-sizing: border-box; background: red; color: white; font-family: -apple-system, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 13px; line-height: 13px; } #nojs-banner a { color: inherit; text-decoration: underline; } This site requires JavaScript to run correctly. Please turn on JavaScript or unblock scripts