ALEX DeFi
Published in

ALEX DeFi

Whitepaper 1: Automated Market Making of the Yield Token Pool

Abstract

Introduction

AMM and Invariant Function

Properties of AMM

ALEX AMM

  • x : balance of the underlying Token
  • y : balance of ayToken
  • r : implied interest rate, defined as the natural logarithm of balance of ayToken and Token

Trading Formulae

Out-Given-In

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