Constant Product AMM
Experiments that used it · 3
Shown oldest first, so you can watch the design evolve.
Uniswap
The first widely adopted constant-product automated market maker, replacing order books with permissionless x*y=k liquidity pools on Ethereum.
PancakeSwap
A Uniswap-derived automated market maker on BNB Chain that became the largest DEX by volume outside Ethereum by routing a fixed slice of every swap fee into CAKE token buyback-and-burn alongside LP rewards and a protocol treasury.
Raydium
A Solana-native AMM that routed its pooled liquidity into Serum's central-limit order book and now splits every trading fee three ways — LPs, an on-chain RAY buyback, and a protocol treasury.