# DEX - 2022
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- [Automated market makers and decentralized exchanges: a DeFi primer](https://jfin-swufe.springeropen.com/track/pdf/10.1186/s40854-021-00314-5.pdf)
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https://www.gemini.com/cryptopedia/amm-what-are-automated-market-makers#section-constant-product-formula
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## Path Dependence https://vitalik.ca/general/2017/06/22/marketmakers.html
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# Parents
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* Decentralized exchanges⏎