..And AMM
.... Of course, they're incentivised for their services.
So, transactions fees paid in the dex foes to the liquidity providers.
AMM takes the place of *order books* in our dexs.
Order books are used in Cexs to record all buy and sells orders and they're updated I'm real time.
This also helps to determine the prices of assets in Cexs.
It is quite different in dexs.
There's no need for an order book, but an AMM is utilised.
This AMM is made up of a mathematical expression that is used to determine the prices value of tokens on Uniswap.
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