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I. Florescu

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Preprint Aug 2026

Mandate without Managers: Automated Market Makers as Verifiable Portfolio Products

Automated market makers (AMMs) are typically interpreted and evaluated as decentralized exchanges. Herein, we take the perspective envisioned by Balancer that an AMM can also be viewed as a portfolio technology that programmatically enforces an economic mandate. In particular, we follow the geometric mean market maker...

Zachary Feinstein, I. Florescu, Sean O'Leary · 0 citations

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