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Perspective on the Capital Pool: In-depth Analysis of the Evolution of DeFi Protocols from Uniswap to Pumpfun
Gate News bot message, the latest research article by Huang Shiliang titled "From Uniswap to Pumpfun: Understanding DeFi protocols from the perspective of liquidity pools" systematically analyzes the operating mechanisms of DeFi protocols.
The article focuses on the core element of liquidity pools, detailing the components, interactive roles, constraint algorithms, revenue distribution, and governance mechanisms of liquidity pools. By analyzing the technical evolution of Uniswap V2/V3/V4 and the integrated design of liquidity pools and token issuance mechanisms in the pump fun protocol, it demonstrates the differentiated implementation of various Decentralized Finance protocols in terms of liquidity pool structure and algorithm.
The author emphasizes that a deep understanding of the liquidity pool logic is the foundation for project value assessment, risk avoidance, and capturing arbitrage opportunities, and it is also the entry cornerstone in the DeFi field.
原文链接