恒定功能做市商的理想价格功能和价值比率

2024 International Conference on Artificial Intelligence, Computer, Data Sciences and Applications (ACDSA) Pub Date : 2024-02-01 DOI:10.1109/ACDSA59508.2024.10467575

H. Kim, Jongwon Lee, Sora Kang, Seong Wook Chae, YongKwan Kim, Gyu M. Lee

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引用次数: 0

摘要

去中心化交易所是加密货币交易的一场革命。去中心化交易所提出了一种不使用订单簿而以数学方式确定价格的方法。400 多年来，订单簿一直是一种广为人知的确定价格的方法。去中心化交易所设计了一种恒定函数做市商，以数学方式确定价格。其中，恒定产品做市商的应用最为广泛。此外，还提出了几种恒定函数做市商。然而，关于恒定函数做市商的理想要求却没有讨论。本文讨论了恒定函数做市商的理想要求，并证明恒定产品做市商仍然是最理想的恒定函数做市商。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Desirable Price Function and Value Ratio of Constant Function Market Makers

Decentralized exchange was a revolution in cryptocurrency trading. Decentralized exchange presented a method to set prices mathematically without an order book. Order books have been a widely-known method of determining prices for over 400 years. Decentralized exchanges devised a constant function market maker to mathematically determine prices. Among them, constant product market makers are the most widely used. In addition, several constant function market makers have been proposed. However, there was no discussion about the desirable requirements of a constant-function market maker. In this paper, we discuss the desirable requirements of a constant function market maker and show that the constant product market maker is still the most desirable constant function market maker.

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2024 International Conference on Artificial Intelligence, Computer, Data Sciences and Applications (ACDSA)

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