As an integral part of the decentralized finance (DeFi) ecosystem, decentralized exchanges
(DEXs) with automated market maker (AMM) protocols have gained massive traction with …

Decentralized Finance (DeFi) takes the promise of blockchain a step further and aims to
transform traditional financial products into trustless and transparent protocols that run …

Decentralized Finance (DeFi), a blockchain powered peer-to-peer financial system, is
mushrooming. Two years ago the total value locked in DeFi systems was approximately …

To non-experts, the traditional Centralized Finance (CeFi) ecosystem may seem obscure,
because users are typically not aware of the underlying rules or agreements of financial …

Uniswap v3 is a noncustodial automated market maker implemented for the Ethereum
Virtual Machine. In comparison to earlier versions of the protocol, Uniswap v3 provides …

Uniswap is a system of smart contracts on the Ethereum blockchain and is one of the largest
decentralized exchanges with a liquidity balance worth over 8 billion USD and daily trading …

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

Abstract Decentralized Finance (DeFi) is a new financial paradigm that leverages distributed
ledger technologies to offer services such as lending, investing, or exchanging cryptoassets …

Purpose Decentralized finance (DeFi), enabled by blockchain, could bring about a new
financial system, where peers will interact directly, with little or no place for traditional …

We consider the market microstructure of constant function market makers (CFMMs) from the
perspective of passive liquidity providers (LPs). In a Black-Scholes setting, we compare the …