<?xml version="1.0" encoding="UTF-8"?><oembed><type>video</type><version>1.0</version><html>&lt;iframe src=&quot;https://www.loom.com/embed/5327969fef1348b88b1847778eebed96&quot; frameborder=&quot;0&quot; width=&quot;1920&quot; height=&quot;1440&quot; webkitallowfullscreen mozallowfullscreen allowfullscreen&gt;&lt;/iframe&gt;</html><height>1440</height><width>1920</width><provider_name>Loom</provider_name><provider_url>https://www.loom.com</provider_url><thumbnail_height>1440</thumbnail_height><thumbnail_width>1920</thumbnail_width><thumbnail_url>https://cdn.loom.com/sessions/thumbnails/5327969fef1348b88b1847778eebed96-49075ffcb98d16e0.gif</thumbnail_url><duration>1261.631</duration><title>TOTAL</title><description>In this video, I discuss the opportunity costs faced by liquidity providers (LPs), particularly focusing on permanent loss and adverse election, which are well understood and can be managed through various perpetuals. I introduce a third risk factor, which is fee concentration, stemming from the competitive nature of price provision among LPs. Notably, research shows that only 7% of LP addresses in the top 250 units of v3 pools are classified as sophisticated. I encourage you to consider these risks in your strategies and explore ways to mitigate them.</description></oembed>