Your swap screen tells you a price, not what routing saved you
Every quote answers what your size costs. The harder question is what size fits a cost you name, and how much of it exists only because of splitting.
ReadStraight answers to the questions people actually ask us — what this costs, who can touch your money, and what a real strategy looks like once it is compiled. No prior DeFi required.
Every quote answers what your size costs. The harder question is what size fits a cost you name, and how much of it exists only because of splitting.
ReadYour swap screen shows a price. It does not show the fees, the slippage, or the routing costs. This post explains what those are, how they add up, and how to control them. You can manage these costs with a plan.
ReadIt is a different protocol with a different mental model. Instead of a lending market, you pick a spoke, and spokes cannot see each other.
ReadBorrowing against a range puts cash in your account. Adding leverage puts the borrowed money back into the range, so you earn more fees and owe more.
ReadA close that only executes if the price is inside a window you signed. Outside it, the transaction reverts rather than selling your position into a spike.
ReadA Uniswap range is an asset worth borrowing against. Two operations put one in a vault and lend you money, with the position left earning fees throughout.
ReadExiting a Uniswap position normally leaves you holding two tokens and no view. Four operations let you name the position you become instead.
ReadOn a leveraged Uniswap position, taking the fees you are owed needs a flash loan first. That follows from what collateral means; it is not a quirk of ours.
ReadOver 1,187 days covered by all four venues we hold, AsterDEX and Hyperliquid paid about double Binance and Bybit. Then the number that deflates it.
ReadA Uniswap range cannot be edited, only replaced. Under leverage that means clearing the debt to burn it, and re-establishing the debt on the new one.
ReadAave has never heard of Revert. Revert has never heard of Aave. Moving a position between them means unwinding to cash, unless something spans both.
ReadMigrating a leveraged position between Morpho, Aave v3 and Aave v4 builds no route, quotes no price and uses no slippage tolerance. Nothing is sold.
ReadFour rules our market history follows: never average two venues, never fill a gap, never keep two copies, and never include a series that lies about itself.
ReadMint the position, move it into the vault, borrow against it, put the proceeds back in. Two operations do it, and only one of them needs a flash loan.
ReadUniswap V3 normally wants both sides of the pair. One operation takes a single token and works the range out on-chain from where the price is.
ReadSplitting a Uniswap range used to happen at the geometric midpoint and nowhere else. Some ranges could not be split at all, and the failure said nothing.
ReadThree operations do nothing on purpose. They are instructions for a person, carried in the plan so a hedge sits in the right order beside what it protects.
ReadOne assumed parameter moves a hedging result by more than the gap between hedging and not hedging. We measured it instead, and it is not one number.
ReadA leveraged position's direction is a setting you can change without rebuilding the position: long, short or delta-neutral, inside one transaction.
ReadRevert makes a Uniswap position borrowable and keeps it in range. Moving it to Aave, or chaining it into something else, is a different job, and not one Revert does.
ReadUniswap's fee switch is on. We read all 25 pools we track from the chain: the protocol takes a quarter of the low tiers and a sixth of the 0.3%.
ReadCollateral sitting at Aave earns the supply rate and nothing else. Two operations move it into a leveraged Uniswap range without you ever holding it.
ReadA Gnosis Safe lost 7.8 million dollars in restaked ETH because an enabled module let a passing keeper point it at an attacker's own pool. The Safe itself worked. This kind of bug is old, and it comes down to who gets to choose the target.
ReadA signed transaction feels final, but a signature only proves who approved something valid. It does not prove that what executes is what they approved. DeFiLoops fills that gap with a content receipt and a simulation that judges what a transaction actually does.
ReadIt has no single answer: two venues on the same asset and chain routinely differ by a point. What sets the rate you pay, and the trap that costs more.
ReadNo exploit and no stolen key, just a message the model agreed to act on. Prompt injection is not a bug you patch, so what can a persuaded model express?
ReadOver half of Uniswap v3 positions finish behind once impermanent loss is counted. The advertised APY cannot tell you that. Here is the number that can.
ReadA fair question before buying a share of a building. What sits behind the token, why the register is a name and not an address, and how rent reaches you.
ReadReal requests, typed by real people, typos included. What each one compiled to, which needed a second attempt, and where the answer surprised them.
ReadThe second most common question people type, and one where a straight answer beats an enthusiastic one. It does not make money on its own; it executes strategies.
ReadRevocation is the feature you hope never to use and should test on day one. How it works, why the agent's permission is one-way, and what stop means.
ReadA key grants unlimited authority, and every limit on top is software. A permission can be withdrawn, but a copied key cannot be un-copied.
ReadA wallet an AI agent can spend from without asking you each time. The whole design question is what stops it, and the answers differ.
ReadHedging is asked for more than almost anything. Priced at every strike, spend and tenor, it lost in every configuration tested.
ReadBreaking an order into pieces only helps if the market refills between them. Sent back to back, it lands in exactly the same place.
ReadMost plans span more than one chain without mentioning it. Two constraints shape every one, and both surprise people.
ReadThe closest thing to a competitor we have, and on most measures it is ahead. Here is what each is actually built for, with the numbers.
ReadEvery one of them enforces spending limits. They differ in where the enforcement sits, and that decides what happens when the operator is wrong.
ReadThe failure modes with evidence behind them, separated from the ones that only have a statistic. One widely quoted figure does not survive.
ReadDeposit into a strategy, or keep the assets and grant a bounded permission. Both are called non-custodial. Only one leaves you holding the position.
ReadThe health factor it has to hold, the fees at every hop, the places it can fail, and the three things that make this plan harder than it looks.
Read