While decentralized finance (DeFi) has the potential to emulate and, indeed, outperform
existing financial systems, it remains a complex phenomenon yet to be extensively …

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) …

A software pattern is a reusable solution to address a commonly occurring problem within a
given context when designing software. Using patterns is a common practice for software …

Decentralized finance (DeFi) promises a revolution in financial accessibility, transparency,
and automation. Yet, its very novelty exposes participants to a number of additional risks and …

Automated market makers (AMMs) are automata that trade electronic assets at rates set by
mathematical formulas. AMMs are usually implemented by smart contracts on blockchains …

Purpose. Significant capital inflows in the cryptocurrency market and record-breaking prices
on cryptocurrency assets have led to the creation of alternative investment options on …

Research on cryptocurrency exchanges, consisting of both centralized exchanges (CEXs)
and decentralized exchanges (DEXs), has seen a significant increase in contributions in …

Uniswap V3 is one of the most successful decentralized exchanges for digital
cryptocurrencies. The latest version of the Uniswap (V3) introduces a number of new …

The proper design of automated market makers (AMMs) is crucial to enable the continuous
trading of assets represented as digital tokens on markets of cryptoeconomic systems …

In this paper we analyze constant product market makers (CPMMs). We formalize the
liquidity providers' profitability conditions and introduce a concept we call the profitability …