Part 1: A brief overview of 1st generation AMMs
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Saved by Timothy Shih
Part 1: A brief overview of 1st generation AMMs
This trilemma was first mentioned by economists Flemming and Mudell in the 1960s and describes the trade-off between (i) exchange rate stability, (ii) autonomous monetary policy, and (iii) capital mobility24 that national currencies are facing.
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By leaning on existing Decentralized Exchanges, we can create highly liquid instant-settling trade markets for in-game assets that didn’t exist in past games. You always needed someone on the other side of the trade in WoW or Runescape. In crypto, with Automated Market Makers, you don’t.
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The first and largest “user” of a Web3 platform — defined as a software service running on an open blockchain (and often called a “protocol” in Web3 parlance) — is usually the product team that built the underlying platform. Web3 teams building these platforms are wise to build the first product on top and give it away for “free,” as a commodity, i... See more