Trade execution on Decentralized Exchanges (DEXes) is automatic and does not require
individual buy and sell orders to be matched. Instead, liquidity aggregated in pools from …

Trading on decentralized exchanges has been one of the primary use cases for
permissionless blockchains with daily trading volume exceeding billions of US ‍dollars. In the …

Constant product markets with concentrated liquidity (CL) are the most popular type of
automated market makers. In this paper, we characterize the continuous-time wealth …

Decentralized exchanges (DEXs) provide a means for users to trade pairs of assets on-
chain without the need of a trusted third party to effectuate a trade. Amongst these, constant …

Constant Function Market Makers (CFMMs) are a tool for creating exchange markets, have
been deployed effectively in prediction markets, and are now especially prominent in the …

In decentralized finance (" DeFi"), automated market makers (AMMs) enable traders to
programmatically exchange one asset for another. Such trades are enabled by the assets …

Among the ecosystem of decentralized financial services, yield farming is a complex
investment strategy with hidden downside risks providing opportunities for passively earning …

We study Just-in-time (JIT) liquidity provision in blockchain-based decentralized exchanges.
A JIT liquidity provider (LP) monitors pending swap orders in public mempools of …

The decentralized finance (DeFi) ecosystem has proven to be popular in facilitating financial
operations, such as token exchange and lending. The public availability of DeFi platforms' …

We examine how the introduction of concentrated liquidity has changed the liquidity
provision market in automated market makers such as Uniswap. To this end, we compare …