Post by Auros

Does professional market making measurably improve token performance? That question drives Report 2 of The Block × Auros Liquidity Mastery Series and we now have a statistically rigorous answer. The research applies T-test analysis across 100+ tokens, examining three distinct spread types: quoted, effective, and realised. Each captures a different dimension of market quality. Using all three rather than relying on a single metric is what separates meaningful benchmarking from surface level comparison. Two findings stand out: → Volatility reduction is real, but context dependent. Professional liquidity provision measurably reduces volatility - though the magnitude varies by sector and geography. The right benchmark depends on which cohort you're actually comparing against. → Impact evolves across the token lifecycle. What a healthy order book looks like 30 days post-TGE is meaningfully different from 12 months in. Performance expectations need to reflect where a token is in its maturity curve. The headline conclusion, T-tested across 100+ tokens: professional liquidity provision measurably improves token performance and market health. Read the full report: https://lnkd.in/guZwVCjv