论文标题
自动做市商无常损失的一般框架
A General Framework for Impermanent Loss in Automated Market Makers
论文作者
论文摘要
我们提供了一个框架，用于分析一般自动化做市商（AMM）的无常损失，并表明几何平均做市商（G3MS）在严格的意义上是从无常损失的角度来看最简单的AMM。在这种情况下，很清楚为什么自动化的做市商（例如曲线（[EGO19]]））需要更多参数才能指定无常损失。我们建议应考虑无常损失的适当参数空间，并证明结果有助于理解不同AMM的无常损失特征。
We provide a framework for analyzing impermanent loss for general Automated Market Makers (AMMs) and show that Geometric Mean Market Makers (G3Ms) are in a rigorous sense the simplest class of AMMs from an impermanent loss viewpoint. In this context, it becomes clear why automated market makers like Curve ([Ego19]) require more parameters in order to specify impermanent loss. We suggest the proper parameter space on which impermanent loss should be considered and prove results that help in understanding the impermanent loss characteristics of different AMMs.
