Concentrated liquidity provision by competing, budget-constrained LPs has a unique Nash equilibrium with a waterfilling structure, and real LPs in risky pools deviate from it.
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Game Theoretic Liquidity Provisioning in Concentrated Liquidity Market Makers
Concentrated liquidity provision by competing, budget-constrained LPs has a unique Nash equilibrium with a waterfilling structure, and real LPs in risky pools deviate from it.