AMM

Also called automated market maker

What crypto means by it

The formula that prices a decentralised exchange's pool. No order book and no human quoting, just a curve that moves as the pool's balance changes.

What you already know this as

An exchange booth whose rate is set by a published formula rather than by a trader's judgement.

Related terms

Paste the whole sentence and we will underline every term we recognise.

Or try: