Automated Market Maker Curves Beyond x*y=k: Dynamic Pegged Bonding Curves
Introduction: The Evolution of Automated Market Makers
Automated Market Makers (AMMs) revolutionized decentralized finance by eliminating the need for order books and letting smart contracts determine prices through mathematical formulas such as the famous constant-product equation x*y=k. Protocols like Uniswap proved that simple curves could unlock nearly frictionless