{"id":3423,"date":"2025-06-23T09:06:43","date_gmt":"2025-06-23T01:06:43","guid":{"rendered":"https:\/\/theexchain.com\/what-is-an-automated-market-maker-amm-core-mechanisms-of-dexs-like-uniswap\/"},"modified":"2025-06-23T09:06:43","modified_gmt":"2025-06-23T01:06:43","slug":"%d9%85%d8%a7-%d9%87%d9%88-%d8%b5%d8%a7%d9%86%d8%b9-%d8%a7%d9%84%d8%b3%d9%88%d9%82-%d8%a7%d9%84%d8%a2%d9%84%d9%8a-amm-%d8%a7%d9%84%d8%a2%d9%84%d9%8a%d8%a7%d8%aa-%d8%a7%d9%84%d8%a3%d8%b3%d8%a7%d8%b3","status":"publish","type":"post","link":"https:\/\/theexchain.com\/ar\/%d9%85%d8%a7-%d9%87%d9%88-%d8%b5%d8%a7%d9%86%d8%b9-%d8%a7%d9%84%d8%b3%d9%88%d9%82-%d8%a7%d9%84%d8%a2%d9%84%d9%8a-amm-%d8%a7%d9%84%d8%a2%d9%84%d9%8a%d8%a7%d8%aa-%d8%a7%d9%84%d8%a3%d8%b3%d8%a7%d8%b3\/","title":{"rendered":"\u0645\u0627 \u0647\u0648 \u0635\u0627\u0646\u0639 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0622\u0644\u064a (AMM)\u061f \u0627\u0644\u0622\u0644\u064a\u0627\u062a \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u0629 \u0644\u0640\n  \u0627\u0644\u0628\u0648\u0631\u0635\u0627\u062a \u0627\u0644\u0622\u0644\u064a\u0629 \u0645\u062b\u0644 Uniswap"},"content":{"rendered":"<h2 id=\"unlock-the-magic-of-crypto-trading-how-automated-market-makers-revolutionized-finance\">\u0623\u0637\u0644\u0642 \u0627\u0644\u0639\u0646\u0627\u0646 \u0644\u0633\u062d\u0631 \u062a\u062f\u0627\u0648\u0644 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629: \u0643\u064a\u0641 \u0623\u062d\u062f\u062b \u0635\u0627\u0646\u0639\u0648 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0622\u0644\u064a\u0648\u0646 \u062b\u0648\u0631\u0629 \u0641\u064a \u0639\u0627\u0644\u0645 \u0627\u0644\u0645\u0627\u0644<\/h2>\n<p>\u062a\u062e\u064a\u0644 \u0623\u0646 \u062a\u062a\u062f\u0627\u0648\u0644 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629 \u0641\u064a \u0623\u064a \u0648\u0642\u062a \u0648\u0641\u064a \u0623\u064a \u0645\u0643\u0627\u0646\u060c \u062f\u0648\u0646 \u0627\u0644\u062d\u0627\u062c\u0629 \u0625\u0644\u0649 \u0645\u0634\u062a\u0631\u064d \u0639\u0644\u0649 \u0627\u0644\u062c\u0627\u0646\u0628 \u0627\u0644\u0622\u062e\u0631. \u0647\u0644 \u064a\u0628\u062f\u0648 \u0630\u0644\u0643 \u0645\u0633\u062a\u062d\u064a\u0644\u0627\u064b\u061f \u0645\u0631\u062d\u0628\u064b\u0627 \u0628\u0643 \u0641\u064a \u0639\u0627\u0644\u0645 \u0635\u0627\u0646\u0639\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0622\u0644\u064a\u064a\u0646 (AMMs) - \u0627\u0644\u0645\u062d\u0631\u0643 \u0627\u0644\u0639\u0628\u0642\u0631\u064a \u0627\u0644\u0630\u064a \u064a\u0639\u0645\u0644 \u0639\u0644\u0649 \u062a\u0634\u063a\u064a\u0644 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a. \u062f\u0639\u0643 \u0645\u0646 \u062f\u0641\u0627\u062a\u0631 \u0627\u0644\u0637\u0644\u0628\u0627\u062a \u0627\u0644\u0628\u0627\u0647\u0638\u0629\u061b \u062d\u064a\u062b \u064a\u0633\u062a\u062e\u062f\u0645 \u0635\u0627\u0646\u0639\u0648 \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0622\u0644\u064a\u0629 \u0633\u062d\u0631\u064b\u0627 \u0631\u064a\u0627\u0636\u064a\u064b\u0627 \u062e\u0627\u0644\u0635\u064b\u0627 \u0644\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 \u062a\u062f\u0641\u0642 \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629 \u0637\u0648\u0627\u0644 \u0623\u064a\u0627\u0645 \u0627\u0644\u0623\u0633\u0628\u0648\u0639. \u0647\u0630\u0627 \u0644\u064a\u0633 \u0645\u062c\u0631\u062f \u0627\u0628\u062a\u0643\u0627\u0631\u061b \u0625\u0646\u0647\u0627 \u062b\u0648\u0631\u0629 \u0645\u0627\u0644\u064a\u0629 \u062a\u062a\u0643\u0634\u0641 \u0639\u0644\u0649 \u0627\u0644\u0628\u0644\u0648\u0643\u062a\u0634\u064a\u0646. \u0647\u0644 \u0623\u0646\u062a \u0645\u0633\u062a\u0639\u062f \u0644\u0631\u0624\u064a\u0629 \u0643\u064a\u0641\u064a\u0629 \u0639\u0645\u0644\u0647\u0627\u061f<\/p>\n<h3 id=\"what-exactly-is-an-automated-market-maker-amm-beyond-the-buzzwords\">\u0645\u0627 \u0647\u0648 \u0628\u0627\u0644\u0636\u0628\u0637 \u0635\u0627\u0646\u0639 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0622\u0644\u064a (AMM)\u061f \u0645\u0627 \u0648\u0631\u0627\u0621 \u0627\u0644\u0643\u0644\u0645\u0627\u062a \u0627\u0644\u0637\u0646\u0627\u0646\u0629<\/h3>\n<p>\u0625\u0646 AMM \u0641\u064a \u062c\u0648\u0647\u0631\u0647 \u0647\u0648 \u0646\u0648\u0639 \u062b\u0648\u0631\u064a \u0645\u0646 \u0623\u0646\u0648\u0627\u0639 <strong>\u0627\u0644\u062a\u0628\u0627\u062f\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a (DEX)<\/strong>. \u0625\u0646\u0647\u0627 \u062a\u0631\u0645\u064a \u0643\u062a\u0627\u0628 \u0627\u0644\u0642\u0648\u0627\u0639\u062f \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a\u0629. \u0627\u0646\u0633\u064e \u0623\u0645\u0631 \u0645\u0633\u0627\u0648\u0645\u0629 \u0627\u0644\u0628\u0627\u0626\u0639\u064a\u0646 \u0648\u0627\u0644\u0645\u0634\u062a\u0631\u064a\u0646 \u0639\u0644\u0649 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0641\u064a \u062f\u0641\u062a\u0631 \u0627\u0644\u0637\u0644\u0628\u0627\u062a. \u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0630\u0644\u0643\u060c \u062a\u0639\u062a\u0645\u062f AMMs \u0639\u0644\u0649 <strong>\u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629<\/strong> - \u0643\u0648\u062f \u0630\u0627\u062a\u064a \u0627\u0644\u062a\u0646\u0641\u064a\u0630 \u064a\u0639\u064a\u0634 \u0639\u0644\u0649 \u0633\u0644\u0627\u0633\u0644 \u0627\u0644\u0643\u062a\u0644 \u0645\u062b\u0644 \u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645 - \u0648\u0635\u064a\u063a\u0629 \u0631\u064a\u0627\u0636\u064a\u0629 \u0642\u0648\u064a\u0629 \u0644\u062a\u0633\u0639\u064a\u0631 \u0627\u0644\u0635\u0641\u0642\u0627\u062a \u0648\u062a\u0646\u0641\u064a\u0630\u0647\u0627 \u062a\u0644\u0642\u0627\u0626\u064a\u064b\u0627. \u064a\u062a\u064a\u062d \u0647\u0630\u0627 \u0627\u0644\u062a\u062d\u0648\u0644 \u0627\u0644\u0623\u0633\u0627\u0633\u064a:<\/p>\n<ul>\n<li><strong>\u062a\u062f\u0627\u0648\u0644 \u0628\u062f\u0648\u0646 \u062a\u0648\u0642\u0641 \u0648\u0628\u062f\u0648\u0646 \u0625\u0630\u0646:<\/strong> \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0645\u0641\u062a\u0648\u062d\u0629 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 24\/7\/365. \u0644\u0627 \u062d\u0631\u0627\u0633 \u0628\u0648\u0627\u0628\u0627\u062a\u060c \u0648\u0644\u0627 \u0645\u0648\u0627\u0641\u0642\u0627\u062a \u0639\u0644\u0649 \u0627\u0644\u062a\u0633\u062c\u064a\u0644. \u0625\u0630\u0627 \u0643\u0627\u0646\u062a \u0644\u062f\u064a\u0643 \u0645\u062d\u0641\u0638\u0629 \u0639\u0645\u0644\u0627\u062a \u0631\u0642\u0645\u064a\u0629\u060c \u0641\u064a\u0645\u0643\u0646\u0643 \u0627\u0644\u062a\u062f\u0627\u0648\u0644.<\/li>\n<li><strong>\u062a\u0631\u064a\u0644\u064a\u0648\u0646\u0627\u062a \u0641\u064a \u0627\u0644\u062d\u062c\u0645\u060c \u0628\u062f\u0648\u0646 \u0648\u0633\u0637\u0627\u0621:<\/strong> \u0645\u0646 \u062e\u0644\u0627\u0644 \u0625\u0632\u0627\u0644\u0629 \u0627\u0644\u0648\u0633\u0637\u0627\u0621 \u0627\u0644\u0645\u0631\u0643\u0632\u064a\u064a\u0646\u060c \u062a\u0639\u0627\u0644\u062c \u0622\u0644\u064a\u0627\u062a \u0625\u062f\u0627\u0631\u0629 \u0627\u0644\u0646\u0642\u062f \u0627\u0644\u0622\u0644\u064a \u0643\u0645\u064a\u0627\u062a \u0647\u0627\u0626\u0644\u0629 \u0628\u0634\u0641\u0627\u0641\u064a\u0629 \u0648\u0643\u0641\u0627\u0621\u0629.<\/li>\n<li><strong>\u0627\u0644\u062a\u0648\u0632\u064a\u0639 \u0627\u0644\u0639\u0627\u062f\u0644 \u0644\u0644\u0631\u0633\u0648\u0645:<\/strong> \u062a\u062a\u062f\u0641\u0642 \u0631\u0633\u0648\u0645 \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0628\u0634\u0643\u0644 \u0645\u0628\u0627\u0634\u0631 \u0648\u0634\u0641\u0627\u0641 \u0625\u0644\u0649 \u0627\u0644\u0645\u0634\u0627\u0631\u0643\u064a\u0646 \u0627\u0644\u0630\u064a\u0646 \u064a\u063a\u0630\u0648\u0646 \u0627\u0644\u0646\u0638\u0627\u0645: \u0645\u0632\u0648\u062f\u064a \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0648\u0634\u0628\u0643\u0629 \u0627\u0644\u0628\u0644\u0648\u0643\u0634\u064a\u0646 \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u0629.<\/li>\n<\/ul>\n<h3 id=\"why-amms-are-a-game-changer-benefits-you-cant-ignore\">\u0644\u0645\u0627\u0630\u0627 \u062a\u064f\u063a\u064a\u0651\u0631 AMMs \u0642\u0648\u0627\u0639\u062f \u0627\u0644\u0644\u0639\u0628\u0629: \u0641\u0648\u0627\u0626\u062f \u0644\u0627 \u064a\u0645\u0643\u0646\u0643 \u062a\u062c\u0627\u0647\u0644\u0647\u0627<\/h3>\n<p>\u0644\u0627 \u062a\u064f\u0639\u062f \u0623\u062f\u0648\u0627\u062a AMMs \u0645\u062c\u0631\u062f \u062d\u062f\u0627\u062b\u0629 \u062a\u0642\u0646\u064a\u0629\u061b \u0641\u0647\u064a \u062a\u0642\u062f\u0645 \u0645\u0632\u0627\u064a\u0627 \u0645\u0644\u0645\u0648\u0633\u0629 \u062a\u0631\u0643\u0632 \u0639\u0644\u0649 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645 \u0648\u062a\u0639\u064a\u062f \u062a\u0634\u0643\u064a\u0644 \u062a\u0628\u0646\u064a \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0631\u0642\u0645\u064a\u0629:<\/p>\n<ul>\n<li><strong>\u0648\u0635\u0648\u0644 \u063a\u064a\u0631 \u0645\u0637\u0627\u0628\u0642 \u0644\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632:<\/strong> \u062a\u062f\u0627\u0648\u0644 \u0627\u0644\u0622\u0644\u0627\u0641 \u0645\u0646 \u0627\u0644\u062a\u0648\u0643\u0646\u0627\u062a\u060c \u0628\u062f\u0621\u064b\u0627 \u0645\u0646 \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u0627\u0642\u0629 \u0645\u062b\u0644 \u0627\u0644\u0628\u064a\u062a\u0643\u0648\u064a\u0646 \u0648\u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645 \u0648\u062d\u062a\u0649 \u0623\u062d\u062f\u062b \u0627\u0644\u0645\u0634\u0631\u0648\u0639\u0627\u062a \u0627\u0644\u0645\u062a\u062e\u0635\u0635\u0629. \u064a\u0645\u0643\u0646 \u0644\u0623\u064a \u0634\u062e\u0635 \u0625\u0646\u0634\u0627\u0621 \u0632\u0648\u062c \u062a\u062f\u0627\u0648\u0644 \u062c\u062f\u064a\u062f\u060c \u0645\u0645\u0627 \u064a\u0639\u0632\u0632 \u0627\u0644\u062a\u0646\u0648\u0639 \u0627\u0644\u0645\u0630\u0647\u0644.<\/li>\n<li><strong>\u062a\u0633\u0639\u064a\u0631 \u0622\u0644\u064a \u0648\u0634\u0641\u0627\u0641:<\/strong> \u064a\u062a\u0645 \u062a\u062d\u062f\u064a\u062f \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0645\u0639\u0627\u062f\u0644\u0629 \u064a\u0645\u0643\u0646 \u0627\u0644\u062a\u0646\u0628\u0624 \u0628\u0647\u0627 \u0639\u0644\u0649 \u0627\u0644\u0633\u0644\u0633\u0644\u0629. \u0644\u0627 \u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u062a\u0633\u0627\u0624\u0644 \u0639\u0645\u0627 \u0625\u0630\u0627 \u0643\u0646\u062a \u062a\u062d\u0635\u0644 \u0639\u0644\u0649 \u0635\u0641\u0642\u0629 \u0639\u0627\u062f\u0644\u0629 - \u0641\u0627\u0644\u062d\u0633\u0627\u0628\u0627\u062a \u0648\u0627\u0636\u062d\u0629 \u0644\u0644\u062c\u0645\u064a\u0639. \u064a\u0633\u062a\u0645\u0631 \u0647\u0630\u0627 \u0627\u0644\u0627\u062a\u0633\u0627\u0642 \u062d\u062a\u0649 \u0639\u0646\u062f\u0645\u0627 \u062a\u062a\u0642\u0644\u0628 \u0627\u0644\u0623\u0633\u0648\u0627\u0642.<\/li>\n<li><strong>\u0639\u0627\u0644\u0645\u064a\u0629 \u0648\u0645\u0641\u062a\u0648\u062d\u0629 \u062d\u0642\u0627\u064b:<\/strong> \u0646\u0634\u0623\u062a \u0645\u0646 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629\u060c \u062d\u064a\u062b \u064a\u0645\u0643\u0646 \u0644\u0623\u064a \u0634\u062e\u0635 \u0644\u062f\u064a\u0647 \u0627\u062a\u0635\u0627\u0644 \u0628\u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a \u0648\u0645\u062d\u0641\u0638\u0629 \u0641\u064a \u0623\u064a \u0645\u0643\u0627\u0646 \u0641\u064a \u0627\u0644\u0639\u0627\u0644\u0645 \u0627\u0644\u0648\u0635\u0648\u0644 \u0625\u0644\u0649 AMMs. \u0644\u0627 \u064a\u062e\u0636\u0639 \u0646\u0634\u0627\u0637\u0643 \u0644\u0644\u0645\u0648\u0627\u0641\u0642\u0629.<\/li>\n<li><strong>\u0627\u0643\u0633\u0628 \u0623\u062b\u0646\u0627\u0621 \u062f\u0639\u0645\u0643:<\/strong> \u0628\u0627\u0644\u0625\u0636\u0627\u0641\u0629 \u0625\u0644\u0649 \u0627\u0644\u062a\u062f\u0627\u0648\u0644\u060c \u062a\u064f\u062a\u064a\u062d \u0622\u0644\u064a\u0627\u062a AMMs \u0622\u0644\u064a\u0629 \u0642\u0648\u064a\u0629 \u0644\u0644\u0643\u0633\u0628: <strong>\u062a\u0648\u0641\u064a\u0631 \u0627\u0644\u0633\u064a\u0648\u0644\u0629<\/strong>. \u0645\u0646 \u062e\u0644\u0627\u0644 \u062a\u0648\u0631\u064a\u062f \u0627\u0644\u0631\u0645\u0648\u0632 \u0625\u0644\u0649 \u0627\u0644\u0645\u062c\u0645\u0639\u0627\u062a\u060c \u064a\u0645\u0643\u0646 \u0644\u0623\u064a \u0634\u062e\u0635 \u0643\u0633\u0628 \u062d\u0635\u0629 \u0645\u0646 \u0631\u0633\u0648\u0645 \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0627\u0644\u0646\u0627\u062a\u062c\u0629.<\/li>\n<\/ul>\n<h3 id=\"demystifying-the-magic-how-do-amms-actually-work\">\u0625\u0632\u0627\u0644\u0629 \u0627\u0644\u063a\u0645\u0648\u0636 \u0639\u0646 \u0627\u0644\u0633\u062d\u0631: \u0643\u064a\u0641 \u062a\u0639\u0645\u0644 AMMs \u0628\u0627\u0644\u0641\u0639\u0644\u061f<\/h3>\n<p>\u062a\u0643\u0645\u0646 \u0627\u0644\u062e\u0644\u0637\u0629 \u0627\u0644\u0633\u0631\u064a\u0629 \u0641\u064a \u0627\u0633\u062a\u0628\u062f\u0627\u0644 \u062f\u0641\u062a\u0631 \u0627\u0644\u0637\u0644\u0628\u0627\u062a \u0627\u0644\u062a\u0642\u0644\u064a\u062f\u064a \u0628\u0645\u0641\u0647\u0648\u0645\u064a\u0646 \u0623\u0633\u0627\u0633\u064a\u064a\u0646:<\/p>\n<ol>\n<li><strong>\u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629:<\/strong> \u0647\u0630\u0647 \u0647\u064a \u0627\u0644\u0639\u0642\u0648\u0644 \u0627\u0644\u0645\u0633\u062a\u0642\u0644\u0629. \u064a\u062a\u0645 \u0646\u0634\u0631\u0647\u0627 \u0639\u0644\u0649 \u0633\u0644\u0627\u0633\u0644 \u0627\u0644\u0628\u0644\u0648\u0643\u0634\u064a\u0646 \u0627\u0644\u0639\u0627\u0645\u0629\u060c \u0648\u0647\u064a \u062a\u0642\u0648\u0645 \u0628\u062a\u0634\u0641\u064a\u0631 \u0642\u0648\u0627\u0639\u062f \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0648\u062a\u0646\u0641\u064a\u0630\u0647\u0627 \u062f\u0648\u0646 \u062a\u062f\u062e\u0644 \u0628\u0634\u0631\u064a \u0623\u0648 \u0633\u064a\u0637\u0631\u0629 \u0645\u0631\u0643\u0632\u064a\u0629.<\/li>\n<li><strong>\u0645\u062c\u0645\u0639\u0627\u062a \u0627\u0644\u0633\u064a\u0648\u0644\u0629:<\/strong> \u0647\u0630\u0647 \u0647\u064a \u0627\u0644\u0642\u0644\u0628 \u0627\u0644\u0646\u0627\u0628\u0636. \u0641\u0628\u062f\u0644\u0627\u064b \u0645\u0646 \u0645\u0637\u0627\u0628\u0642\u0629 \u0627\u0644\u0645\u062a\u062f\u0627\u0648\u0644\u064a\u0646 \u0627\u0644\u0623\u0641\u0631\u0627\u062f\u060c \u062a\u0633\u062a\u062e\u062f\u0645 \u0627\u0644\u0622\u0644\u064a\u0627\u062a \u0627\u0644\u062d\u0633\u0627\u0628\u064a\u0629 \u0627\u0644\u0622\u0644\u064a\u0629 \u0627\u0644\u0645\u062c\u0645\u0639\u0629 - \u0648\u0647\u064a \u0639\u0642\u0648\u062f \u0630\u0643\u064a\u0629 \u062a\u062d\u062a\u0641\u0638 \u0628\u0627\u062d\u062a\u064a\u0627\u0637\u064a\u0627\u062a <em>\u0627\u062b\u0646\u0627\u0646<\/em> \u0631\u0645\u0648\u0632 \u0645\u062e\u062a\u0644\u0641\u0629 (\u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c ETH \u0648 USDC). \u064a\u0642\u0648\u0645 \u0627\u0644\u0645\u062a\u062f\u0627\u0648\u0644\u0648\u0646 \u0628\u0645\u0628\u0627\u062f\u0644\u0629 \u0627\u0644\u062a\u0648\u0643\u0646\u0627\u062a \u0645\u0628\u0627\u0634\u0631\u0629 \u0645\u0642\u0627\u0628\u0644 \u0647\u0630\u0627 \u0627\u0644\u0645\u062c\u0645\u0639.<\/li>\n<\/ol>\n<h4 id=\"the-role-of-liquidity-providers-lps\">\u062f\u0648\u0631 \u0645\u0632\u0648\u062f\u064a \u0627\u0644\u0633\u064a\u0648\u0644\u0629 (LPs)<\/h4>\n<p>\u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0647\u064a \u0634\u0631\u064a\u0627\u0646 \u0627\u0644\u062d\u064a\u0627\u0629. <strong>\u0623\u064a \u0634\u062e\u0635<\/strong> \u0623\u0646 \u062a\u0635\u0628\u062d \u0645\u0632\u0648\u062f\u064b\u0627 \u0644\u0644\u0633\u064a\u0648\u0644\u0629 (LP) \u0639\u0646 \u0637\u0631\u064a\u0642 \u0625\u064a\u062f\u0627\u0639 <em>\u0642\u064a\u0645\u0629 \u0645\u062a\u0633\u0627\u0648\u064a\u0629<\/em> \u0645\u0646 \u0631\u0645\u0632\u064a\u0646 \u0641\u064a \u0645\u062c\u0645\u0648\u0639\u0629. \u0644\u0645\u0627\u0630\u0627 \u064a\u0641\u0639\u0644\u0648\u0646 \u0630\u0644\u0643\u061f <strong>\u0627\u0644\u062d\u0648\u0627\u0641\u0632!<\/strong> \u064a\u0643\u0633\u0628 \u0627\u0644\u0634\u0631\u0643\u0627\u0621 \u0627\u0644\u0645\u062d\u062f\u0648\u062f\u0648\u0646 \u062c\u0632\u0621\u064b\u0627 \u0645\u0646 \u0631\u0633\u0648\u0645 \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u0627\u0644\u0646\u0627\u062a\u062c\u0629 \u0639\u0646 \u0643\u0644 \u0639\u0645\u0644\u064a\u0629 \u0645\u0628\u0627\u062f\u0644\u0629 \u062a\u062a\u0645 \u0641\u064a \u0645\u062c\u0645\u0639\u0647\u0645. \u0627\u0644\u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u064a\u0639\u0646\u064a:<\/p>\n<ul>\n<li><strong>\u062a\u062f\u0627\u0648\u0644\u0627\u062a \u0643\u0628\u064a\u0631\u0629 \u0623\u0633\u0647\u0644:<\/strong> \u064a\u0645\u0643\u0646 \u0644\u0644\u0645\u062a\u062f\u0627\u0648\u0644\u064a\u0646 \u0645\u0628\u0627\u062f\u0644\u0629 \u0645\u0628\u0627\u0644\u063a \u0643\u0628\u064a\u0631\u0629 \u062f\u0648\u0646 \u0627\u0644\u062a\u0633\u0628\u0628 \u0641\u064a \u062a\u0642\u0644\u0628\u0627\u062a \u0643\u0628\u064a\u0631\u0629 \u0641\u064a \u0627\u0644\u0623\u0633\u0639\u0627\u0631 (\u0627\u0646\u0632\u0644\u0627\u0642 \u0633\u0639\u0631\u064a \u0645\u0646\u062e\u0641\u0636).<\/li>\n<li><strong>\u0623\u0633\u0648\u0627\u0642 \u0623\u0643\u062b\u0631 \u0643\u0641\u0627\u0621\u0629:<\/strong> \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0627\u0644\u0643\u0628\u064a\u0631\u0629 \u062a\u062c\u0630\u0628 \u0627\u0644\u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u0645\u062a\u062f\u0627\u0648\u0644\u064a\u0646\u060c \u0645\u0645\u0627 \u064a\u062e\u0644\u0642 \u062f\u0648\u0631\u0629 \u062d\u0645\u064a\u062f\u0629.<\/li>\n<\/ul>\n<h4 id=\"the-genius-formula-x--y--k---the-constant-product-machine\">\u0627\u0644\u0645\u0639\u0627\u062f\u0644\u0629 \u0627\u0644\u0639\u0628\u0642\u0631\u064a\u0629 \u0633 * \u0635 = \u0643 - \u0622\u0644\u0629 \u0627\u0644\u0636\u0631\u0628 \u0627\u0644\u062b\u0627\u0628\u062a\u0629<\/h4>\n<p>\u0647\u0646\u0627 \u062a\u062a\u0623\u0644\u0642 \u0627\u0644\u0623\u0646\u0627\u0642\u0629 \u0627\u0644\u062d\u0642\u064a\u0642\u064a\u0629. \u0643\u064a\u0641 \u062a\u062d\u062f\u062f AMM \u0627\u0644\u0633\u0639\u0631 \u062f\u0648\u0646 \u0623\u0646 \u064a\u0635\u0631\u062e \u0627\u0644\u0628\u0627\u0626\u0639\u0648\u0646 \u0648\u0627\u0644\u0645\u0634\u062a\u0631\u0648\u0646 \u0628\u0623\u0648\u0627\u0645\u0631\u0647\u0645\u061f \u0625\u0646\u0647\u0627 \u062a\u0633\u062a\u062e\u062f\u0645 \u0642\u0627\u0639\u062f\u0629 \u0631\u064a\u0627\u0636\u064a\u0629 \u0628\u0633\u064a\u0637\u0629 \u0648\u0642\u0648\u064a\u0629 \u0648\u0628\u0633\u064a\u0637\u0629: \u0625\u0646 <strong>\u0645\u0639\u0627\u062f\u0644\u0629 \u0627\u0644\u0636\u0631\u0628 \u0627\u0644\u062b\u0627\u0628\u062a: \u0633 * \u0635 = \u0643<\/strong>.<\/p>\n<ul>\n<li><strong>x<\/strong> = \u0643\u0645\u064a\u0629 \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632 \u0623 \u0641\u064a \u0627\u0644\u0645\u062c\u0645\u0639 (\u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c ETH)<\/li>\n<li><strong>y<\/strong> = \u0643\u0645\u064a\u0629 \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632 (\u0628) \u0641\u064a \u0627\u0644\u0645\u062c\u0645\u0639 (\u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c USDC)<\/li>\n<li><strong>k<\/strong> = A <strong>\u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u062b\u0627\u0628\u062a\u0629<\/strong> (\u062d\u0627\u0635\u0644 \u0636\u0631\u0628 \u0633 \u0648 \u0635)<\/li>\n<\/ul>\n<p><strong>\u0643\u064a\u0641 \u064a\u0639\u0645\u0644:<\/strong><\/p>\n<ol>\n<li><strong>\u0627\u0644\u062a\u0647\u064a\u0626\u0629:<\/strong> \u0639\u0646\u062f\u0645\u0627 \u064a\u0646\u0634\u0626 \u0627\u0644\u0634\u0631\u0643\u0627\u0621 \u0627\u0644\u0645\u062d\u062f\u0648\u062f\u0648\u0646 \u062a\u062c\u0645\u0639\u064b\u0627\u060c \u0641\u0625\u0646\u0647\u0645 \u064a\u0648\u062f\u0639\u0648\u0646 \u0645\u0627 \u064a\u0633\u0627\u0648\u064a <em>\u0627\u0644\u0642\u064a\u0645\u0629<\/em> \u0645\u0642\u062f\u0627\u0631 \u0627\u0644\u0631\u0645\u0632\u064a\u0646\u060c \u0645\u0639 \u062a\u062d\u062f\u064a\u062f \u0627\u0644\u0646\u0633\u0628\u0629 \u0627\u0644\u0623\u0648\u0644\u064a\u0629 \u0648\u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0623\u0648\u0644\u064a <code>k<\/code> (\u0633 * \u0635).<\/li>\n<li><strong>\u0627\u0644\u0642\u0627\u0639\u062f\u0629 \u0627\u0644\u062b\u0627\u0628\u062a\u0629<\/strong> <code>k<\/code> \u064a\u062c\u0628 <em>\u062f\u0627\u0626\u0645\u064b\u0627<\/em> \u062a\u0638\u0644 \u062b\u0627\u0628\u062a\u0629 \u0628\u0639\u062f \u0643\u0644 \u0639\u0645\u0644\u064a\u0629 \u062a\u062f\u0627\u0648\u0644. \u062a\u062d\u0643\u0645 \u0647\u0630\u0647 \u0627\u0644\u0642\u0627\u0639\u062f\u0629 \u062c\u0645\u064a\u0639 \u062a\u062d\u0631\u0643\u0627\u062a \u0627\u0644\u0623\u0633\u0639\u0627\u0631.<\/li>\n<li><strong>\u062a\u062d\u062f\u064a\u062f \u0627\u0644\u0633\u0639\u0631:<\/strong> \u064a\u062a\u0645 \u062a\u062d\u062f\u064a\u062f \u0633\u0639\u0631 \u0643\u0644 \u062a\u0648\u0643\u0646 \u0641\u064a \u0627\u0644\u0645\u062c\u0645\u0639 \u0628\u0648\u0627\u0633\u0637\u0629 <em>\u0627\u0644\u0646\u0633\u0628\u0629 \u0627\u0644\u062d\u0627\u0644\u064a\u0629<\/em> \u0645\u0646 <code>x<\/code> \u0648 <code>y<\/code>.\n<ul>\n<li>\u0625\u0630\u0627 \u0627\u0634\u062a\u0631\u0649 \u0634\u062e\u0635 \u0645\u0627 \u0627\u0644\u0639\u0645\u0644\u0629 \u0627\u0644\u0631\u0645\u0632\u064a\u0629 A (ETH) \u0645\u0646 \u0627\u0644\u0645\u062c\u0645\u0639\u060c \u0641\u0625\u0646\u0647 \u064a\u0636\u064a\u0641 \u0627\u0644\u0639\u0645\u0644\u0629 \u0627\u0644\u0631\u0645\u0632\u064a\u0629 B (USDC) \u0648\u064a\u0632\u064a\u0644 \u0627\u0644\u0639\u0645\u0644\u0629 \u0627\u0644\u0631\u0645\u0632\u064a\u0629 A (ETH).<\/li>\n<li>\u0648\u0647\u0630\u0627 \u064a\u0642\u0644\u0644 \u0645\u0646 <code>x<\/code> (\u0627\u0644\u0645\u0639\u0631\u0648\u0636 \u0645\u0646 \u0627\u0644\u0625\u064a\u062b\u064a\u0631\u064a\u0648\u0645 \u0641\u064a \u0627\u0644\u0645\u062c\u0645\u0639) \u0648\u064a\u0632\u064a\u062f \u0645\u0646 <code>y<\/code> (\u0625\u0645\u062f\u0627\u062f\u0627\u062a USDC \u0641\u064a \u0627\u0644\u0645\u062c\u0645\u0639).<\/li>\n<li>\u0644\u0623\u0646 <code>k<\/code> \u064a\u062c\u0628 \u0623\u0646 \u064a\u0638\u0644 \u062b\u0627\u0628\u062a\u064b\u0627 (x * y = k)\u060c \u0641\u0625\u0646 <em>\u0627\u0644\u0646\u0642\u0635\u0627\u0646<\/em> \u0641\u064a <code>x<\/code> \u0648 <em>\u0627\u0644\u0632\u064a\u0627\u062f\u0629<\/em> \u0641\u064a <code>y<\/code> \u064a\u0639\u0646\u064a \u0633\u0639\u0631 \u0627\u0644\u0631\u0645\u0632 \u0627\u0644\u0645\u0645\u064a\u0632 A (ETH) \u0627\u0644\u0622\u0646-\u0633\u0643\u0627\u0631\u0633\u064a\u0631 <em>\u0627\u0644\u0632\u064a\u0627\u062f\u0627\u062a<\/em> \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0625\u0644\u0649 \u0627\u0644\u0631\u0645\u0632 B (USDC).<\/li>\n<li>\u0648\u0639\u0644\u0649 \u0627\u0644\u0639\u0643\u0633 \u0645\u0646 \u0630\u0644\u0643\u060c \u0641\u0625\u0646 \u0633\u0639\u0631 \u0627\u0644\u0639\u0645\u0644\u0629 \u0627\u0644\u0631\u0645\u0632\u064a\u0629 B (USDC) <em>\u0627\u0644\u0646\u0642\u0635\u0627\u0646<\/em> \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0625\u0644\u0649 \u0627\u0644\u0639\u0645\u0644\u0629 \u0627\u0644\u0631\u0645\u0632\u064a\u0629 A (ETH) \u0646\u0638\u0631\u064b\u0627 \u0644\u0648\u062c\u0648\u062f \u0627\u0644\u0645\u0632\u064a\u062f \u0645\u0646\u0647\u0627 \u0641\u064a \u0627\u0644\u0645\u062c\u0645\u0639.<\/li>\n<\/ul>\n<\/li>\n<li><strong>\u0625\u0639\u0627\u062f\u0629 \u0627\u0644\u062a\u0648\u0627\u0632\u0646 \u0627\u0644\u062f\u064a\u0646\u0627\u0645\u064a\u0643\u064a:<\/strong> \u062a\u0639\u0645\u0644 \u0643\u0644 \u0639\u0645\u0644\u064a\u0629 \u062a\u062f\u0627\u0648\u0644 \u0639\u0644\u0649 \u0625\u0639\u0627\u062f\u0629 \u0627\u0644\u062a\u0648\u0627\u0632\u0646 \u062a\u0644\u0642\u0627\u0626\u064a\u064b\u0627 \u0625\u0644\u0649 \u0627\u0644\u0645\u062c\u0645\u0639\u060c \u0648\u062a\u0639\u062f\u064a\u0644 \u0643\u0645\u064a\u0627\u062a \u0627\u0644\u0631\u0645\u0648\u0632 \u0627\u0644\u0631\u0645\u0632\u064a\u0629 (<code>x<\/code> \u0648 <code>y<\/code>) \u0644\u0636\u0645\u0627\u0646 <code>\u0633 * \u0635<\/code> \u064a\u0633\u0627\u0648\u064a \u062f\u0627\u0626\u0645\u064b\u0627 <code>k<\/code>\u060c \u0648\u0628\u0627\u0644\u062a\u0627\u0644\u064a \u062a\u062d\u062f\u064a\u062b \u0627\u0644\u0633\u0639\u0631 \u0648\u0641\u0642\u064b\u0627 \u0644\u0644\u0646\u0633\u0628\u0629 \u0627\u0644\u062c\u062f\u064a\u062f\u0629.<\/li>\n<\/ol>\n<p><strong>\u062a\u0635\u0648\u0651\u0631 \u0630\u0644\u0643:<\/strong> \u062a\u062e\u064a\u0644 \u0645\u0646\u062d\u0646\u0649. \u0628\u062f\u0621\u0627\u064b \u0645\u0646 \u0646\u0642\u0637\u0629 \u062a\u0645\u062b\u0644 \u0627\u0644\u0646\u0633\u0628\u0629 \u0627\u0644\u0623\u0648\u0644\u064a\u0629. \u0634\u0631\u0627\u0621 \u0627\u0644\u0631\u0645\u0632 A \u064a\u0646\u0642\u0644\u0643 \u0644\u0623\u0639\u0644\u0649 \u0648\u064a\u0633\u0627\u0631\u0627\u064b \u0639\u0644\u0649 \u0627\u0644\u0645\u0646\u062d\u0646\u0649 (\u0631\u0645\u0632 A \u0623\u0642\u0644\u060c \u0633\u0639\u0631 \u0623\u0639\u0644\u0649). \u0628\u064a\u0639 \u0627\u0644\u062a\u0648\u0643\u0646 \u0623 \u064a\u0646\u0642\u0644\u0643 \u0644\u0623\u0633\u0641\u0644 \u0648\u064a\u0645\u064a\u0646\u0627\u064b (\u0627\u0644\u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u062a\u0648\u0643\u0646 \u0623\u060c \u0633\u0639\u0631 \u0623\u0642\u0644). \u064a\u0636\u0645\u0646 \u0627\u0644\u0645\u0646\u062d\u0646\u0649 \u062a\u0639\u062f\u064a\u0644 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0628\u0633\u0644\u0627\u0633\u0629 \u0628\u0646\u0627\u0621\u064b \u0639\u0644\u0649 \u0627\u0644\u0639\u0631\u0636 \u0648\u0627\u0644\u0637\u0644\u0628 \u062f\u0627\u062e\u0644 \u0627\u0644\u0645\u062c\u0645\u0639.<\/p>\n<p><strong>\u0627\u0644\u0646\u062a\u064a\u062c\u0629:<\/strong> \u0622\u0644\u064a\u0629 \u062a\u0633\u0639\u064a\u0631 \u0644\u0627 \u0645\u0631\u0643\u0632\u064a\u0629 \u0648\u0634\u0641\u0627\u0641\u0629 \u0648\u062a\u0644\u0642\u0627\u0626\u064a\u0629 \u0628\u0627\u0644\u0643\u0627\u0645\u0644. \u0644\u0627 \u0645\u0641\u0627\u0648\u0636\u0627\u062a. \u0644\u0627 \u0648\u0633\u0637\u0627\u0621. \u0645\u062c\u0631\u062f \u0639\u0645\u0644\u064a\u0627\u062a \u062d\u0633\u0627\u0628\u064a\u0629 \u0646\u0642\u064a\u0629 \u0648\u063a\u064a\u0631 \u0645\u0648\u062b\u0648\u0642\u0629 \u062a\u064f\u0646\u0641\u0630 \u0639\u0644\u0649 \u0627\u0644\u0628\u0644\u0648\u0643 \u062a\u0634\u064a\u0646.<\/p>\n<h3 id=\"seeing-it-in-action-a-real-trade-step-by-step\">\u0631\u0624\u064a\u0629 \u0627\u0644\u0623\u0645\u0631 \u0639\u0644\u0649 \u0623\u0631\u0636 \u0627\u0644\u0648\u0627\u0642\u0639: \u0627\u0644\u062a\u062c\u0627\u0631\u0629 \u0627\u0644\u062d\u0642\u064a\u0642\u064a\u0629 \u062e\u0637\u0648\u0629 \u0628\u062e\u0637\u0648\u0629<\/h3>\n<p>\u0644\u0646\u062c\u0639\u0644 \u0627\u0644\u0623\u0645\u0631 \u0645\u0644\u0645\u0648\u0633\u064b\u0627. \u062a\u062e\u064a\u0644 \u062a\u0628\u062f\u064a\u0644 $100 USDC \u0628 ETH \u0639\u0644\u0649 AMM DEX \u0645\u062b\u0644 Uniswap:<\/p>\n<ol>\n<li><strong>\u0625\u062c\u0631\u0627\u0621 \u0627\u0644\u0645\u0633\u062a\u062e\u062f\u0645:<\/strong> \u0642\u0645 \u0628\u062a\u0648\u0635\u064a\u0644 \u0645\u062d\u0641\u0638\u062a\u0643\u060c \u0648\u062d\u062f\u062f USDC \u0643\u0645\u062f\u062e\u0644 \u0648 ETH \u0643\u0645\u062e\u0631\u062c. \u0623\u062f\u062e\u0644 $100 USDC.<\/li>\n<li><strong>\u0627\u0642\u062a\u0628\u0627\u0633 \u0641\u064a \u0627\u0644\u0648\u0642\u062a \u0627\u0644\u0641\u0639\u0644\u064a:<\/strong> \u062a\u062d\u0633\u0628 \u0648\u0627\u062c\u0647\u0629 DEX \u0639\u0644\u0649 \u0627\u0644\u0641\u0648\u0631 \u0645\u0642\u062f\u0627\u0631 \u0627\u0644\u0625\u064a\u062b\u0631\u064a\u0648\u0645 \u0627\u0644\u0630\u064a \u0633\u062a\u062d\u0635\u0644 \u0639\u0644\u064a\u0647. \u064a\u0633\u062a\u062e\u062f\u0645 \u0647\u0630\u0627 \u0627\u0644\u062d\u0633\u0627\u0628 <em>\u0627\u0644\u062d\u0627\u0644\u064a\u0629<\/em> <code>x<\/code> (ETH) \u0648 <code>y<\/code> (USDC) \u0627\u0644\u0627\u062d\u062a\u064a\u0627\u0637\u064a\u0627\u062a \u0641\u064a \u0627\u0644\u0645\u062c\u0645\u0639 \u0648\u0627\u0644\u062b\u0627\u0628\u062a <code>k<\/code>\u0628\u062a\u0637\u0628\u064a\u0642 \u0635\u064a\u063a\u0629 \u0627\u0644\u0636\u0631\u0628 \u0627\u0644\u062b\u0627\u0628\u062a.<\/li>\n<li><strong>\u062a\u0623\u0643\u064a\u062f:<\/strong> \u0623\u0646\u062a \u062a\u0648\u0627\u0641\u0642 \u0639\u0644\u0649 \u0627\u0644\u0645\u0628\u0627\u062f\u0644\u0629<\/li>\n<li><strong>\u062a\u0646\u0641\u064a\u0630 \u0627\u0644\u0628\u0644\u0648\u0643 \u062a\u0634\u064a\u0646:<\/strong> \u0641\u064a \u0635\u0641\u0642\u0629 \u0648\u0627\u062d\u062f\u0629 \u0633\u0644\u0633\u0629:\n<ul>\n<li>\u064a\u062e\u0635\u0645 \u0627\u0644\u0639\u0642\u062f \u0627\u0644\u0630\u0643\u064a 100 \u062f\u0648\u0644\u0627\u0631 \u0623\u0645\u0631\u064a\u0643\u064a \u0645\u0646 \u0645\u062d\u0641\u0638\u062a\u0643.<\/li>\n<li>\u064a\u0636\u064a\u0641 \u0630\u0644\u0643 100 \u062f\u0648\u0644\u0627\u0631 \u0623\u0645\u0631\u064a\u0643\u064a \u0625\u0644\u0649 \u0627\u0644\u0645\u062c\u0645\u0648\u0639\u0629 (\u0632\u064a\u0627\u062f\u0629 <code>y<\/code>).<\/li>\n<li>\u064a\u0642\u0648\u0645 \u0628\u062d\u0633\u0627\u0628 \u0627\u0644\u0645\u0628\u0644\u063a \u0627\u0644\u0645\u062d\u062f\u062f \u0645\u0646 ETH \u0644\u0625\u0631\u0633\u0627\u0644\u0647 \u0625\u0644\u064a\u0643 \u0628\u0646\u0627\u0621\u064b \u0639\u0644\u0649 \u0627\u0644\u0645\u0639\u0627\u062f\u0644\u0629 \u0644\u0644\u062d\u0641\u0627\u0638 \u0639\u0644\u0649 <code>k<\/code> \u062b\u0627\u0628\u062a (\u0648\u0647\u0648 \u0645\u0627 \u064a\u0639\u0646\u064a \u062a\u0646\u0627\u0642\u0635 <code>x<\/code> \u0628\u0645\u0642\u062f\u0627\u0631 \u0645\u062d\u062f\u062f).<\/li>\n<li>\u064a\u0631\u0633\u0644 \u0647\u0630\u0627 \u0627\u0644\u0645\u0628\u0644\u063a \u0627\u0644\u0645\u062d\u0633\u0648\u0628 \u0645\u0646 ETH \u0625\u0644\u0649 \u0645\u062d\u0641\u0638\u062a\u0643.<\/li>\n<li>\u064a\u062a\u0645 \u062a\u062d\u062f\u064a\u062b \u0627\u062d\u062a\u064a\u0627\u0637\u064a\u0627\u062a \u0627\u0644\u0645\u062c\u0645\u0639: \u0627\u0644\u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u062f\u0648\u0644\u0627\u0631 \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a USDC\u060c \u0648\u0627\u0644\u0642\u0644\u064a\u0644 \u0645\u0646 \u0627\u0644\u0625\u064a\u062b\u0631\u064a\u0648\u0645 ETH. \u0623\u0635\u0628\u062d \u0633\u0639\u0631 ETH (\u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0625\u0644\u0649 USDC) \u0627\u0644\u0622\u0646 \u0623\u0639\u0644\u0649 \u0642\u0644\u064a\u0644\u0627\u064b \u0645\u0645\u0627 \u0643\u0627\u0646 \u0639\u0644\u064a\u0647 \u0642\u0628\u0644 \u0635\u0641\u0642\u062a\u0643.<\/li>\n<\/ul>\n<\/li>\n<li><strong>\u0627\u0644\u0646\u062a\u064a\u062c\u0629:<\/strong> \u0644\u062f\u064a\u0643 ETH\u060c \u0648\u064a\u062a\u0645 \u0625\u0639\u0627\u062f\u0629 \u0645\u0648\u0627\u0632\u0646\u0629 \u0627\u0644\u0645\u062c\u0645\u0639\u060c \u0648\u064a\u062a\u0645 \u062a\u062d\u062f\u064a\u062b \u0627\u0644\u0623\u0633\u0639\u0627\u0631\u060c \u0648\u064a\u062d\u0635\u0644 \u0645\u0632\u0648\u062f\u0648 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0639\u0644\u0649 \u0631\u0633\u0648\u0645 \u0631\u0645\u0632\u064a\u0629 \u0645\u0646 \u062a\u062f\u0627\u0648\u0644\u0643. \u0643\u0644 \u0630\u0644\u0643 \u064a\u062a\u062d\u0642\u0642 \u0628\u0634\u0643\u0644 \u0622\u0645\u0646 \u0648\u0634\u0641\u0627\u0641 \u0648\u0628\u062f\u0648\u0646 \u0628\u0648\u0631\u0635\u0629 \u0645\u0631\u0643\u0632\u064a\u0629.<\/li>\n<\/ol>\n<h3 id=\"beyond-the-basics-the-evolving-amm-landscape\">\u0645\u0627 \u0648\u0631\u0627\u0621 \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u0627\u062a: \u0627\u0644\u0645\u0634\u0647\u062f \u0627\u0644\u0645\u062a\u0637\u0648\u0631 \u0644\u0625\u062f\u0627\u0631\u0629 \u0627\u0644\u0645\u062d\u062a\u0648\u0649 \u0627\u0644\u0625\u0639\u0644\u0627\u0645\u064a<\/h3>\n<p>\u0641\u064a \u062d\u064a\u0646 \u0623\u0646 Uniswap \u0643\u0627\u0646\u062a \u0631\u0627\u0626\u062f\u0629 \u0641\u064a \u0627\u0644\u0645\u0646\u062a\u062c \u0627\u0644\u062b\u0627\u0628\u062a \u0627\u0644\u0642\u064a\u0627\u0633\u064a (<code>\u0633*\u0635=\u0643<\/code>) \u0646\u0645\u0648\u0630\u062c AMM\u060c \u064a\u0632\u062f\u0647\u0631 \u0627\u0644\u0627\u0628\u062a\u0643\u0627\u0631:<\/p>\n<ul>\n<li><strong>\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0645\u0646\u062d\u0646\u0649:<\/strong> \u062a\u062a\u062e\u0635\u0635 \u0641\u064a \u0623\u0632\u0648\u0627\u062c \u0627\u0644\u0639\u0645\u0644\u0627\u062a \u0627\u0644\u0645\u0633\u062a\u0642\u0631\u0629 (\u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c USDC\/USDT) \u0623\u0648 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u0631\u0628\u0648\u0637\u0629 \u0627\u0644\u0645\u0645\u0627\u062b\u0644\u0629. \u064a\u0633\u062a\u062e\u062f\u0645 \u0635\u064a\u063a\u064b\u0627 \u0645\u064f\u062d\u0633\u0651\u0646\u0629 \u0644\u062a\u0642\u0644\u064a\u0644 \u0627\u0644\u0627\u0646\u0632\u0644\u0627\u0642 \u0648\u0627\u0644\u0631\u0633\u0648\u0645 \u0644\u0647\u0630\u0647 \u0627\u0644\u062a\u062f\u0627\u0648\u0644\u0627\u062a \u0645\u0646\u062e\u0641\u0636\u0629 \u0627\u0644\u062a\u0642\u0644\u0628\u0627\u062a\u060c \u0645\u0645\u0627 \u064a\u062d\u0644 \u0645\u0634\u0643\u0644\u0629 \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629.<\/li>\n<li><strong>\u0645\u0648\u0627\u0632\u0646:<\/strong> \u064a\u0648\u0633\u0639 \u0627\u0644\u0645\u0631\u0648\u0646\u0629 \u0645\u0646 \u062e\u0644\u0627\u0644 \u0627\u0644\u0633\u0645\u0627\u062d \u0644\u0644\u0645\u062c\u0645\u0639\u0627\u062a \u0630\u0627\u062a <em>\u0623\u0643\u062b\u0631 \u0645\u0646 \u0627\u062b\u0646\u064a\u0646<\/em> \u0627\u0644\u0623\u0635\u0648\u0644 (\u062d\u062a\u0649 8) \u0648 <em>\u0627\u0644\u0623\u0648\u0632\u0627\u0646 \u0627\u0644\u062a\u0631\u062c\u064a\u062d\u0627\u062a \u0627\u0644\u0645\u062e\u0635\u0635\u0629<\/em> (\u0648\u0644\u064a\u0633 \u0641\u0642\u0637 50\/50). \u0641\u0643\u0651\u0631 \u0641\u064a \u0627\u0644\u0623\u0645\u0631 \u0639\u0644\u0649 \u0623\u0646\u0647 \u0635\u0646\u062f\u0648\u0642 \u0645\u0624\u0634\u0631\/\u0645\u062f\u064a\u0631 \u0645\u062d\u0641\u0638\u0629 \u0622\u0644\u064a \u0642\u0627\u0628\u0644 \u0644\u0644\u062a\u062e\u0635\u064a\u0635.<\/li>\n<li><strong>\u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0627\u0644\u0645\u0631\u0643\u0632\u0629 (\u0639\u0644\u0649 \u0633\u0628\u064a\u0644 \u0627\u0644\u0645\u062b\u0627\u0644\u060c Uniswap V3):<\/strong> \u064a\u0633\u0645\u062d \u0644\u0644\u0634\u0631\u0643\u0627\u0621 \u0627\u0644\u0645\u062d\u062f\u0648\u062f\u064a\u0646 \u0628\u062a\u0631\u0643\u064a\u0632 \u0631\u0624\u0648\u0633 \u0623\u0645\u0648\u0627\u0644\u0647\u0645 \u0636\u0645\u0646 \u0646\u0637\u0627\u0642\u0627\u062a \u0633\u0639\u0631\u064a\u0629 \u0645\u062d\u062f\u062f\u0629\u060c \u0645\u0645\u0627 \u064a\u0632\u064a\u062f \u0628\u0634\u0643\u0644 \u0643\u0628\u064a\u0631 \u0645\u0646 \u0643\u0641\u0627\u0621\u0629 \u0631\u0623\u0633 \u0627\u0644\u0645\u0627\u0644 \u0648\u0623\u0631\u0628\u0627\u062d \u0627\u0644\u0631\u0633\u0648\u0645 \u0627\u0644\u0645\u062d\u062a\u0645\u0644\u0629 \u0644\u0644\u0645\u062c\u0645\u0639\u0627\u062a \u0627\u0644\u0646\u0634\u0637\u0629.<\/li>\n<\/ul>\n<p>\u062a\u0648\u0636\u062d \u0647\u0630\u0647 \u0627\u0644\u0627\u062e\u062a\u0644\u0627\u0641\u0627\u062a \u0642\u0627\u0628\u0644\u064a\u0629 \u062a\u0643\u064a\u064a\u0641 \u0645\u0641\u0647\u0648\u0645 AMM \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u060c \u0627\u0644\u0630\u064a \u062a\u0645 \u062a\u062d\u0633\u064a\u0646\u0647 \u0644\u0623\u0646\u0648\u0627\u0639 \u0627\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0645\u062e\u062a\u0644\u0641\u0629 \u0648\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0627\u062a \u0627\u0644\u062a\u062f\u0627\u0648\u0644 \u062f\u0627\u062e\u0644 \u0646\u0638\u0627\u0645 DeFi \u0627\u0644\u0628\u064a\u0626\u064a \u0627\u0644\u0646\u0627\u0628\u0636 \u0628\u0627\u0644\u062d\u064a\u0627\u0629.<\/p>\n<h3 id=\"the-future-is-automated-open-and-liquid\">\u0627\u0644\u0645\u0633\u062a\u0642\u0628\u0644 \u0622\u0644\u064a \u0648\u0645\u0641\u062a\u0648\u062d \u0648\u0633\u0647\u0644 \u0627\u0644\u0627\u0633\u062a\u062e\u062f\u0627\u0645<\/h3>\n<p>\u0625\u0646 \u0635\u0627\u0646\u0639\u064a \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0622\u0644\u064a\u064a\u0646 \u0647\u0645 \u0623\u0643\u062b\u0631 \u0628\u0643\u062b\u064a\u0631 \u0645\u0646 \u0645\u062c\u0631\u062f \u062d\u0644 \u062a\u0642\u0646\u064a \u0630\u0643\u064a\u061b \u0641\u0647\u0645 \u0628\u0645\u062b\u0627\u0628\u0629 \u0628\u0646\u064a\u0629 \u062a\u062d\u062a\u064a\u0629 \u062a\u0623\u0633\u064a\u0633\u064a\u0629 \u0644\u0646\u0645\u0648\u0630\u062c \u0645\u0627\u0644\u064a \u062c\u062f\u064a\u062f. \u0645\u0646 \u062e\u0644\u0627\u0644 \u062a\u0633\u062e\u064a\u0631 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0630\u0643\u064a\u0629 \u0648\u0627\u0644\u0635\u064a\u063a \u0627\u0644\u0631\u064a\u0627\u0636\u064a\u0629 \u0645\u062b\u0644 <code>\u0633 * \u0635 = \u0643<\/code>\u060c\u062a\u0642\u062f\u0645\u0647 AMMs:<\/p>\n<ul>\n<li><strong>\u0625\u0645\u0643\u0627\u0646\u064a\u0629 \u0648\u0635\u0648\u0644 \u063a\u064a\u0631 \u0645\u0633\u0628\u0648\u0642\u0629:<\/strong> \u0641\u062a\u062d \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0639\u0627\u0644\u0645\u064a\u0629 \u0644\u0623\u064a \u0634\u062e\u0635 \u0644\u062f\u064a\u0647 \u0627\u062a\u0635\u0627\u0644 \u0628\u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a.<\/li>\n<li><strong>\u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0627\u0644\u0645\u0633\u062a\u0645\u0631\u0629:<\/strong> \u062a\u062f\u0627\u0648\u0644 \u0639\u0644\u0649 \u0645\u062f\u0627\u0631 \u0627\u0644\u0633\u0627\u0639\u0629 \u0648\u0637\u0648\u0627\u0644 \u0623\u064a\u0627\u0645 \u0627\u0644\u0623\u0633\u0628\u0648\u0639\u060c \u062d\u062a\u0649 \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0623\u0635\u0648\u0644 \u0627\u0644\u0623\u0643\u062b\u0631 \u062a\u062e\u0635\u0635\u064b\u0627\u060c \u0645\u062f\u0639\u0648\u0645\u064b\u0627 \u0628\u0645\u0634\u0627\u0631\u0643\u064a\u0646 \u0644\u0627\u0645\u0631\u0643\u0632\u064a\u064a\u0646.<\/li>\n<li><strong>\u0643\u0641\u0627\u0621\u0629 \u0634\u0641\u0627\u0641\u0629:<\/strong> \u062a\u0633\u0639\u064a\u0631 \u064a\u0645\u0643\u0646 \u0627\u0644\u062a\u0646\u0628\u0624 \u0628\u0647 \u0627\u0633\u062a\u0646\u0627\u062f\u064b\u0627 \u0625\u0644\u0649 \u0645\u0646\u0637\u0642 \u0627\u0644\u0633\u0644\u0633\u0644\u0629 \u0627\u0644\u0630\u064a \u064a\u0645\u0643\u0646 \u0627\u0644\u062a\u062d\u0642\u0642 \u0645\u0646\u0647\u060c \u0645\u0645\u0627 \u064a\u0642\u0644\u0644 \u0645\u0646 \u0627\u0644\u0627\u0639\u062a\u0645\u0627\u062f \u0639\u0644\u0649 \u0627\u0644\u0648\u0633\u0637\u0627\u0621 \u063a\u064a\u0631 \u0627\u0644\u0634\u0641\u0627\u0641\u064a\u0646.<\/li>\n<li><strong>\u0645\u062d\u0631\u0643 \u0627\u0644\u0627\u0628\u062a\u0643\u0627\u0631:<\/strong> \u062a\u0648\u0641\u064a\u0631 \u062d\u062c\u0631 \u0627\u0644\u0623\u0633\u0627\u0633 \u0644\u0644\u0633\u064a\u0648\u0644\u0629 \u0627\u0644\u0630\u064a \u064a\u0642\u0648\u0645 \u0639\u0644\u064a\u0647 \u0646\u0638\u0627\u0645 DeFi \u0627\u0644\u0628\u064a\u0626\u064a \u0628\u0623\u0643\u0645\u0644\u0647 - \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0648\u0627\u0644\u0627\u0642\u062a\u0631\u0627\u0636 \u0648\u0627\u0644\u0645\u0634\u062a\u0642\u0627\u062a \u0648\u0632\u0631\u0627\u0639\u0629 \u0627\u0644\u0645\u062d\u0627\u0635\u064a\u0644 -.<\/li>\n<\/ul>\n<p>\u0625\u0646 \u0627\u0644\u062a\u062d\u0648\u0644 \u0645\u0646 \u062f\u0641\u0627\u062a\u0631 \u0627\u0644\u0637\u0644\u0628\u0627\u062a \u0625\u0644\u0649 \u0645\u062c\u0645\u0639\u0627\u062a \u0627\u0644\u0633\u064a\u0648\u0644\u0629 \u0648\u0627\u0644\u062a\u0633\u0639\u064a\u0631 \u0627\u0644\u062e\u0648\u0627\u0631\u0632\u0645\u064a \u0644\u064a\u0633 \u0645\u062c\u0631\u062f \u062a\u0631\u0642\u064a\u0629\u061b \u0628\u0644 \u0647\u0648 \u0625\u0639\u0627\u062f\u0629 \u062a\u0635\u0648\u0631 \u0623\u0633\u0627\u0633\u064a \u0644\u0643\u064a\u0641\u064a\u0629 \u0639\u0645\u0644 \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0648\u0645\u0627 \u064a\u0646\u0628\u063a\u064a \u0623\u0646 \u062a\u0639\u0645\u0644 \u0628\u0647. \u062a\u064f\u062c\u0633\u062f \u0627\u0644\u0622\u0644\u064a\u0627\u062a \u0627\u0644\u062d\u0633\u0627\u0628\u064a\u0629 \u0627\u0644\u0622\u0644\u064a\u0629 \u0627\u0644\u0631\u0648\u062d \u0627\u0644\u0623\u0633\u0627\u0633\u064a\u0629 \u0644\u0633\u0644\u0633\u0644\u0629 \u0627\u0644\u0643\u062a\u0644 - \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a\u0629 \u0648\u0627\u0644\u0634\u0641\u0627\u0641\u064a\u0629 \u0648\u0627\u0644\u0627\u0628\u062a\u0643\u0627\u0631 \u063a\u064a\u0631 \u0627\u0644\u0645\u0635\u0631\u062d \u0628\u0647 - \u0648\u0642\u062f \u0623\u062b\u0628\u062a\u062a \u0623\u0646\u0647\u0627 \u0648\u0627\u062d\u062f\u0629 \u0645\u0646 \u0623\u0643\u062b\u0631 \u0627\u0644\u0623\u062f\u0648\u0627\u062a \u0627\u0644\u062a\u062d\u0648\u064a\u0644\u064a\u0629 \u0648\u0627\u0644\u062f\u0627\u0626\u0645\u0629 \u0641\u064a \u0639\u0627\u0644\u0645 \u0627\u0644\u062a\u0645\u0648\u064a\u0644 \u0627\u0644\u0644\u0627\u0645\u0631\u0643\u0632\u064a. \u0627\u0644\u062b\u0648\u0631\u0629 \u0645\u0624\u062a\u0645\u062a\u0629\u060c \u0648\u0642\u062f \u0628\u062f\u0623\u062a \u0644\u0644\u062a\u0648.<\/p>","protected":false},"excerpt":{"rendered":"<p>Unlock the Magic of Crypto Trading: How Automated Market Makers Revolutionized Finance Imagine trading crypto anytime, anywhere, without needing a buyer on the other side. Sounds impossible? Welcome to the world of Automated Market Makers (AMMs) \u2013 the ingenious engine powering decentralized finance. Forget clunky order books; AMMs use pure mathematical magic to keep markets [&hellip;]<\/p>","protected":false},"author":1,"featured_media":3422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[34],"tags":[],"class_list":["post-3423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-knowledge"],"_links":{"self":[{"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/posts\/3423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/comments?post=3423"}],"version-history":[{"count":0,"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/posts\/3423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/media\/3422"}],"wp:attachment":[{"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/media?parent=3423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/categories?post=3423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theexchain.com\/ar\/wp-json\/wp\/v2\/tags?post=3423"}],"curies":[{"name":"\u062f\u0628\u0644\u064a\u0648 \u0628\u064a","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}