Financial mathematics of market liquidity

Automated Market Makers

Automated Market Makers (AMMs) are the underlying protocols used by Decentralized Exchanges (DEX) to allow users to perform trades of cryptocurrencies in a decentralized way with no middlemen. In a traditional trading market a buy order has to be matched with a sell order to achieve a trade. In other words, a coincidence of wants and needs has to occur, which is not alway...

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