Blockchain technology can reduce transaction costs, generate distributed trust, and empower decentralized platforms and potentially becoming a new foundation for decentralized business models. The advent of Blockchain technologies raises a new field dubbed as “decentralized financial (DeFi)”. DeFi refers to an ecosystem comprised of financial applications, such as savings, loans, trading, insurance, that are being developed on top of Blockchain systems. Empowered by blockchain technology, decentralized financial services have the potential to broaden financial inclusion, facilitate open access, encourage permission-less innovation, and create new opportunities for market participants, entrepreneurs and innovators.

Decentralized Exchanges (DEX) are one the main subcategories of DeFi which allows exchanging assets without the need of a central authority, i.e., in a peer-to-peer fashion. Some of the most promising approaches in building DEXs are so-called Automated Liquidity Providers, which are already built in many industrial projects such as Uniswap, Bancor, Kyber network, etc.

The main aim of this thesis would be a thorough investigation of the design and properties of various DEX solutions and comparing them from an academic/industrial perspective.

Center for Blockchains and Electronic Markets (BCM)

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