@article{1453710,
      recid = {1453710},
      author = {Ottina, Miguel, and Steffensen, Peter Johannes, and  Kristensen, Jesper,},
      title = {Automated market makers : a practical guide to  decentralized exchanges and cryptocurrency trading /},
      pages = {1 online resource :},
      abstract = {Explore Automated Market Makers (AMMs), the underlying  protocols used by decentralized exchanges (DEX) to allow  users to perform trades of cryptocurrencies in a  decentralized way with no middlemen. This book provides a  thorough study and a clear-cut exposition of the principal  AMMs (Uniswap v2 and v3, Balancer, and Curve). You'll  receive a detailed description of how these AMMs work,  unveiling the mathematics behind them and showing plenty of  examples as well as novel proofs for several interesting  facts. Each chapter describes an AMM's core idea and  derives the mathematical formulas used in the code, giving  careful explanations of the logical thinking involved and  detailing the steps needed to reach those formulas. All  these explanations are complemented with thoughtfully  chosen examples which further help to enlighten the readers  on how the formulae work. In addition, the relevant parts  of the codes of the AMMs are shown after explaining each  formula so that the actual implementation of the formulae  can be seen. In a traditional trading market a buy order  has to be matched with a sell order to achieve a trade.  However, for an AMM, users trade against the protocol  itself, a smart contract, or a community pool of funds. In  simple terms this is an open source computer program in  which mathematical formulas define prices. Automated Market  Makers examines this critical point revealing that no banks  or intermediaries are necessary, giving crucial financial  access to a much larger crowd, regardless of who they are  with less barriers to access. What You'll Learn Understand  the principals of decentralized finance (DeFi) Grasp  mathematical formulae that underpin decentralized exchanges  Work with Solidity programming language Review current  industry best practices Who This Book Is For Those new to  Blockchain and Cryptocurrency trading, who want to learn  more about AMMs Developers who want to dive deeper into the  core features of AMM platforms Investors and venture  capitalists who want to know more about new emerging  technologies.},
      url = {http://library.usi.edu/record/1453710},
      doi = {https://doi.org/10.1007/978-1-4842-8616-6},
}