{"document_id":"BLC-STUDY-0106","slug":"curve-cryptoswap","title":"Automatic market-making with dynamic peg","authors":"Michael Egorov","year":2021,"date_label":"2021","publisher":"Michael Egorov","paper_type":"Design paper","category":"Markets","topics":["Markets"],"source_url":"https://classic.curve.finance/files/crypto-pools-paper.pdf","source_label":"Curve Finance, 2021","legacy_pdf_path":null,"sha256":null,"sha256_note":"No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.","version":"Source cited by the 2021 study. The study is the reading. This page does not add a second essay.","doi":null,"rights_status":"Official external source only","source_status":"Official source","use_status":"Metadata and commentary only. The reading is the study page.","licence":null,"licence_label":"No licence recorded. Rights status under review.","full_text":null,"full_text_reason":"Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.","editorial_line":"Stableswap concentrates liquidity around a fixed price of one. This paper moves that concentration so it can follow a moving price between volatile assets. The pool reprices itself from its own trades. It does not know the outside world except through those trades.","canonical_url":"https://blockchainlab.com/whitepaper/curve-cryptoswap","record_url":"https://blockchainlab.com/research/corpus/papers/curve-cryptoswap","study_url":"https://blockchainlab.com/whitepaper/curve-cryptoswap","last_reviewed":"2026-10-01","last_checked":"2026-10-01","relationships":[{"rel":"Canonical reading","label":"Curve Cryptoswap study","href":"/whitepaper/curve-cryptoswap"},{"rel":"Related paper","label":"Curve","href":"/whitepaper/curve-stableswap"},{"rel":"Related paper","label":"Uniswap","href":"/whitepaper/uniswap-v3"},{"rel":"Related paper","label":"Balancer","href":"/whitepaper/balancer"}]}