Estructura de mercado

Constant-product pool arithmetic

A basic AMM prices trades along a reserve curve.

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A basic AMM prices trades along a reserve curve.

Finite size moves price, so average execution differs from the initial quote.

Calculate from reserves and include fees.

Estructura de mercado

A pool equation makes the execution price depend on the size of the trade relative to available reserves.

Historia cripto

Fundraising, token rights and paid distribution became tightly connected.

Estructura de mercado

The chain and contract or mint establish which token is being discussed.

Estructura de mercado

Profitable positions are reduced when the venue cannot absorb another account's deficit.