Automated market makers and decentralized exchanges: a DeFi primer
Abstract Recent advancements in decentralized finance (DeFi) have resulted in a rapid increase in the use of Automated Market Makers (AMMs) for creating decentralized exchanges (DEXs). In this paper, we organize these developments by treating an AMM as a neoclassical black-box characterized by the c...
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| Format: | Article |
| Language: | English |
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SpringerOpen
2022-02-01
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| Series: | Financial Innovation |
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| Online Access: | https://doi.org/10.1186/s40854-021-00314-5 |