Best resources to learn about Automated Market Makers?

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Hi,

What is the best resource to learn about Automated Market Makers used by the likes of Uniswap.

What comprehensive documents/resources exist of how they work and how to build them.

There's a nice overview at [0] "An Analysis of Uniswap markets." Some very interesting larger dynamics are discussed in [1] "When Does The Tail Wag The Dog? Curvature and Market Making."

The Uniswap mechanism varies significantly by version number:

+ For k=x*y mechanism used in Uniswap v2, check out [2] "Improved Price Oracles: Constant Function Market Makers" and/or the [3] the Uniswap V2 whitepaper.

+ For newer liquidity range mechanism, there is a very nice explanation in [4] the Uniswap v3 core whitepaper.

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0. https://cryptoeconomicsystems.pubpub.org/pub/angeris-uniswap...

1. https://cryptoeconomicsystems.pubpub.org/pub/angeris-curvatu...

2. https://dl.acm.org/doi/abs/10.1145/3419614.3423251

3. https://uniswap.org/whitepaper.pdf

4. https://uniswap.org/whitepaper-v3.pdf

The Uniswap Whitepapers are quite accessible. The best way to get a feel for them is to start LPing, though. Another interesting one to look at is Crocswap.

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