Corpus ID: 207847514

An analysis of Uniswap markets

@article{Angeris2019AnAO,
  title={An analysis of Uniswap markets},
  author={Guillermo Angeris and Hsien-Tang Kao and Rei Chiang and Charlie Noyes and T. Chitra},
  journal={ArXiv},
  year={2019},
  volume={abs/1911.03380}
}
  • Guillermo Angeris, Hsien-Tang Kao, +2 authors T. Chitra
  • Published 2019
  • Computer Science, Economics, Mathematics
  • ArXiv
  • Uniswap — and other constant product markets — appear to work well in practice despite their simplicity. In this paper, we give a simple formal analysis of constant product markets and their generalizations, showing that, under some common conditions, these markets must closely track the reference market price. We also show that Uniswap satisfies many other desirable properties and numerically demonstrate, via a large-scale agent-based simulation, that Uniswap is stable under a wide range of… CONTINUE READING
    17 Citations

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