@misc{grachev-2026-supply-is-not-liquidity,
  author = {Grachev, Igor},
  title = {Supply is not liquidity},
  year = {2026},
  url = {https://igorgrachev.ru/en/ideas/supply-is-not-liquidity/},
  note = {Version 0.1, accessed 2026-10-05}
}