Uniswap is an open source decentralized exchange protocol built on the Ethereum blockchain and operating under the management of smart contracts. Uniswap leaves behind the traditional architecture of the digital exchange, since there is no order book. The protocol works with the design of Constant Product Market Maker, which is a variant of the model called Automated Market Maker (AMM).

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The success of AMMs depends on LP participation.

FLAIR measures intra-pool LP competitiveness in AMMs – helping LPs benchmark their performance.

Check out the research. ⤵️