Uniswap V3, Financial Engineering, Stochastic Process, Pricing, Martingales.
fees compensate for this? Fee This part is also very intuitive. fee=τ∗ϕ, where ϕ is the fee collection rate. We need to make an additional assumption: liquidity at any price is equivalent to current liquidity, meaning liquidity is the same at any price. Therefore, it is not difficult to see that