3 papers
q-fin.TR2024
Automated Market Making and Decentralized Finance
Marcello Monga
Automated market makers (AMMs) are a new type of trading venues which are revolutionising the way market participants interact. At present, the majority of AMMs are constant functi…
q-fin.MF2023
Decentralised Finance and Automated Market Making: Predictable Loss and Optimal Liquidity Provision
Álvaro Cartea, Fayçal Drissi, Marcello Monga
Constant product markets with concentrated liquidity (CL) are the most popular type of automated market makers. In this paper, we characterise the continuous-time wealth dynamics o…
q-fin.TR2023
Decentralised Finance and Automated Market Making: Execution and Speculation
Álvaro Cartea, Fayçal Drissi, Marcello Monga
Automated market makers (AMMs) are a new prototype of decentralised exchanges which are revolutionising market interactions. The majority of AMMs are constant product markets (CPMs…