BTC$78,044.72▲ 1.90%ETH$2,299.35▲ 2.30%USDT$0.9988▲ 0.02%BNB$700.82▲ 1.28%XRP$1.27▲ 2.16%USDC$1.00▲ 0.02%SOL$92.96▲ 1.63%TRX$0.3221▲ 0.46%FIGR_HELOC$1.03▼ 0.22%ZEC$1,273.79▲ 12.53%HYPE$84.87▲ 1.62%XMR$118.70▲ 5.70%DOGE$0.0747▲ 1.49%USDS$1.00▲ 0.02%WBT$74.91▲ 1.93%LEO$9.30▼ 0.01%LINK$11.05▲ 0.04%ADA$0.1904▲ 2.14%XLM$0.1623▲ 1.14%BCH$275.40▲ 0.06%NEAR$3.96▲ 4.57%DAI$1.0000▲ 0.01%USDE$1.00▲ 0.08%RAIN$0.006288▼ 1.71%UNI$7.37▲ 5.49%LTC$54.43▲ 0.96%CC$0.0986▲ 5.77%AVAX$8.53▲ 3.20%USD1$0.9996▲ 0.06%SUI$0.8965▲ 4.12%GRAM$1.17▲ 0.73%XAUT$4,008.90▲ 2.82%HBAR$0.0700▲ 1.28%QNT$194.70▲ 1.05%USDG$1.00▲ 0.02%SHIB$0.000005▲ 2.60%PYUSD$1.0000▲ 0.02%TAO$227.80▲ 3.48%RLUSD$1.00▲ 0.01%CRO$0.0507▲ 1.52%BTC$78,044.72▲ 1.90%ETH$2,299.35▲ 2.30%USDT$0.9988▲ 0.02%BNB$700.82▲ 1.28%XRP$1.27▲ 2.16%USDC$1.00▲ 0.02%SOL$92.96▲ 1.63%TRX$0.3221▲ 0.46%FIGR_HELOC$1.03▼ 0.22%ZEC$1,273.79▲ 12.53%HYPE$84.87▲ 1.62%XMR$118.70▲ 5.70%DOGE$0.0747▲ 1.49%USDS$1.00▲ 0.02%WBT$74.91▲ 1.93%LEO$9.30▼ 0.01%LINK$11.05▲ 0.04%ADA$0.1904▲ 2.14%XLM$0.1623▲ 1.14%BCH$275.40▲ 0.06%NEAR$3.96▲ 4.57%DAI$1.0000▲ 0.01%USDE$1.00▲ 0.08%RAIN$0.006288▼ 1.71%UNI$7.37▲ 5.49%LTC$54.43▲ 0.96%CC$0.0986▲ 5.77%AVAX$8.53▲ 3.20%USD1$0.9996▲ 0.06%SUI$0.8965▲ 4.12%GRAM$1.17▲ 0.73%XAUT$4,008.90▲ 2.82%HBAR$0.0700▲ 1.28%QNT$194.70▲ 1.05%USDG$1.00▲ 0.02%SHIB$0.000005▲ 2.60%PYUSD$1.0000▲ 0.02%TAO$227.80▲ 3.48%RLUSD$1.00▲ 0.01%CRO$0.0507▲ 1.52%

Automated Market Maker

A decentralised exchange design that prices trades from a mathematical formula over pooled reserves rather than by matching individual buy and sell orders.

An AMM will always quote a price, including for a token nobody wants, which is why an AMM price on a near-empty pool can be almost arbitrary. Pool depth, not the quoted price, determines whether that price is real.
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