On conformal symmetry in large-$N$ quiver mechanics
The microscopic description of extremal supersymmetric black holes in AdS$_2$/CFT$_1$ holography has remained elusive despite recent progress in the statistical description of near-extremal black hole physics. In this work we revisit Denef's quiver mechanics description of D-brane bound states in the Coulomb branch, which displays an emergent conformal symmetry in the AdS$_2$ scaling limit. This conformal symmetry is however broken by superpotential corrections near the locus where the Coulomb and Higgs branches meet, and its significance has so far remained unclear. In order to to clarify this issue, we derive and interpret a fixed-point formula for the superconformal quiver index using localization techniques. Focusing on cyclic abelian quivers, we show that, in a certain large-$N$ limit (with the rank $N$ of the quiver gauge group), the fixed points are located in the regime where the conformal description is reliable. In this limit, our expression for the superconformal index precisely captures a contribution to the microscopic scaling BPS index derived by Beaujard, Mondal and Pioline, which was hitherto not visible on the Coulomb branch. Our results are hoped to provide a step towards a stringy realization of AdS$_2$/CFT$_1$ duality.