Automated Market Makers: A Practical Guide to Decentralized Exchanges and Cryptocurrency Trading

© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2023

M. Ottina et al.Automated Market Makershttps://doi.org/10.1007/978-1-4842-8616-6_4

4. Curve Finance

Miguel Ottina¹  , Peter Johannes Steffensen² and Jesper Kristensen³

(1)

Rivadavia, Argentina

(2)

Aarhus, Denmark

(3)

New York, NY, USA

 

Curve Finance’s AMM was originally designed to facilitate trades with low price impact between stablecoins or, more generally, between assets that have the same price—like ETH and sETH (Synthetix¹ ETH). Curve’s AMM was launched in January 2020 and was initially called StableSwap. Its algorithm is more complex than those of the AMMs we have studied in the previous chapters.

In June 2021, Curve v2 was presented [12]. This new version ...