$NOVA/USDC
Simulation runMakingMODENORMAL
VENUESynthetic DLMM
PRICE0.009989
MAKER CAPITAL$827,212
DEPLOYED$245,373
±1% DEPTH$4.60K / $47.3K
INVENTORY49 / 51
NET MM P&L+$26.7K
NEXT STRATEGY REVIEW00:01:00
Maker NAV
$827,212
contributed $800,500
Net MM P&L
+$26,712
3.34%
LP Fees
+$29,982
$201 unclaimed
Divergence / Inventory
+$5,917
vs holding the deposits
Tx + Rebalance Cost
−$1.14
24 rebalances
vs HODL
+$35,897
market-making value added
NAV vs benchmarks · same price path & order flow
MM0HODLPassive full-range LPStatic CL
Performance attribution
Fee capture+$29,982
LP fees earned, collected + accrued
Holding effect−$9,185
what the deposited inventory did on its own (token price)
Divergence / inventory effect+$5,917
LP value vs HODL excluding fees: adverse selection, range exits, own swap costs
Network fees−$1
transaction + priority fees
Net+$26,712
Realized +$6,949 · unrealized +$19,763. Gross fees are never reported as profit.
Benchmarks
On this run MM0 finished ahead of HODL, Passive full-range LP. It finished behind Static CL, Periodic rebalance. One simulated path is not evidence of outperformance; Stage 2 walk-forward testing is required before any such claim.
| Strategy | End NAV | Net P&L | LP fees | Divergence | Max DD (abs) | MM DD vs HODL | In range | Avg deployed | ±2% depth | Txs |
|---|---|---|---|---|---|---|---|---|---|---|
| MM0 | $827,199 | +$26,699 (3.33%) | $29,982 | +$5,916 | −14.43% | −0.74% | 100% | 28% | $10,807 | 114 |
| HODL | $791,302 | −$9,198 (−1.15%) | $0 | $0 | −17.03% | — | — | 0% | $0 | 0 |
| Passive full-range LP | $807,392 | +$6,892 (0.86%) | $16,127 | −$37 | −16.20% | −0.20% | 100% | 99% | $5,435 | 1 |
| Static CL | $952,226 | +$151,726 (18.95%) | $161,847 | −$923 | −10.87% | −5.33% | 74% | 90% | $100,150 | 1 |
| Periodic rebalance | $871,014 | +$70,514 (8.81%) | $49,130 | +$30,583 | −4.08% | −8.36% | 99% | 21% | $28,509 | 59 |