Skip to content
Merged
Show file tree
Hide file tree
Changes from all commits
Commits
File filter

Filter by extension

Filter by extension

Conversations
Failed to load comments.
Loading
Jump to
Jump to file
Failed to load files.
Loading
Diff view
Diff view
8 changes: 4 additions & 4 deletions README.md
Original file line number Diff line number Diff line change
Expand Up @@ -93,29 +93,29 @@ Historical simulations on USDC/USDT swap data compare Oscillon against a static

~18,500 chronological swaps with low volatility. Oscillon keeps fees near the 3 bps base while static and dynamic models earn similar total income (~$65k). The benefit shows up in the **3–7 bps deviation** bucket, where static LP capture drops to ~85% and Oscillon stays near 100%.

![Backtest May 2026](docs/assets/backtest-2026-05.png)
![Backtest May 2026](assets/backtest-2026-05.png)

### March 2023 — USDC depeg crisis

#### Minute-by-minute fee response

Chainlink-matched replay from March 10–16, 2023. As USDC depegged to ~1,200 bps, Oscillon scaled fees from 3 bps to the 50 bps cap while static stayed flat.

![Depeg timeline March 2023](docs/assets/depeg-timeline-2023-03.png)
![Depeg timeline March 2023](assets/depeg-timeline-2023-03.png)

*Top: oracle depeg magnitude. Middle: static 3 bps vs Oscillon hybrid. Bottom: remaining arb gap after fee (drain protection proxy).*

#### Full-period dashboard (~6,200 swaps)

Fee curves, LVR distribution, cumulative LP income, and LP capture % over the March 2023 stress window. Income spikes around swap 2,500–3,500 when the depeg hit. Oscillon hybrid ends ~2× static (~$450k vs ~$215k) and holds 25–50% LP capture in the 15–30+ bps ranges where static collapses below 10%.

![Backtest March 2023](docs/assets/backtest-2023-03.png)
![Backtest March 2023](assets/backtest-2023-03.png)

#### Model comparison (same period)

Side-by-side fee models including hybrid, piecewise, quadratic (K=45), and additive (base + drain tax). Additive and paper-minimum benchmarks show the upper bound on LP protection.

![Backtest results March 2023](docs/assets/backtest-results.png)
![Backtest results March 2023](assets/backtest-results.png)

> Backtests are illustrative simulations on historical data. On-chain behavior depends on oracle freshness, pool liquidity, and swap direction. See [Known Limitations](#known-limitations).

Expand Down
Binary file added assets/backtest-2023-03.png
Loading
Sorry, something went wrong. Reload?
Sorry, we cannot display this file.
Sorry, this file is invalid so it cannot be displayed.
Binary file added assets/backtest-2026-05.png
Loading
Sorry, something went wrong. Reload?
Sorry, we cannot display this file.
Sorry, this file is invalid so it cannot be displayed.
Binary file added assets/backtest-results.png
Loading
Sorry, something went wrong. Reload?
Sorry, we cannot display this file.
Sorry, this file is invalid so it cannot be displayed.
Binary file added assets/depeg-timeline-2023-03.png
Loading
Sorry, something went wrong. Reload?
Sorry, we cannot display this file.
Sorry, this file is invalid so it cannot be displayed.