Uniswap V3, Convex Optimization, Arbitrage, Routing, English.
k. Contrary to non-levered AMM however, the actual token holdings x1, y1 are below their theoretical values, ie we have (x1+xv) (y1+yv) = k where the quantities xv, yv correspond to the virtual token holdings of the AMM. Those virtual tokens are there for accounting purposes only, so they can not