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AMM (Automated Market Maker) and Decentralized Exchanges
Ammmmmm...

The basics

Automated market-making enables self-balancing liquidity provided enough actors participate in the shared pool deposit. AMM essentially represents a decentralized and ungoverned equivalent of the model used by Centralized Exchanges buttressed by the incentivizing design that rewards liquidity providers commensurably.
If we are to abstract from the current design of AMM the quintessential point of departure, it would be the very simple invariant proposed by Vitalik Buterin - x·y = k. From this point on, the development of DeFi and innovations proposed by various players have been of tremendous magnitude, building on the foundational ideas of simple yet ingenious design. UniSwap has paved the way to the multiple ramifications of the AMM idea and is justifiably considered to be the pioneering force behind Decentralized Exchanges and the AMM model in particular.
Unlike the traditional model implemented on CEX called a limit-order book, DEX institutes an AMM approach that relies on the Smart Contract logic to sort, parse, and order transactions (mining on Ethereum). One of the cornerstones of AMM is liquidity pools. They are aggregators of assets that enable disintermediation of the trade and incorporate a novel way to swap assets in the decentralized niveau.

Why NEAR Blockchain

Near, by the virtue of its design, is built with the utmost User Experience in mind. Valuing first and foremost the immediate usage of the technology and adoption rather than theoretical technical capacity, Near provides an exceptional groundwork for developers and users alike.
Developers building on Near have unprecedented quality of life improvements compared to the cumbersome and unfamiliar specificities of comparable blockchain solutions by introducing already established programming languages to build with.
Users interacting with Near also are met with the traditional set of tools and familiar usage styles that are reminiscent of the customary Web Interfaces. Supplementarily Near introduces a predictable pricing system that disentangles a vine-like complex fee system making every fee-imposable action on the blockchain systematic and expected.
Therefore complementary to the primordial ideas of Near, Jumbo is set to follow in the steps and leverage the existing QoL improvements of Near and design the most user-friendly and responsive DEX on the platform.
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The basics
Why NEAR Blockchain