| Name | Underlying Blockchain | Type | Trading Fee |
|---|---|---|---|
| Uniswap | Ethereum | Constant function market makers | |
| Curve | Ethereum | ||
| YieldSpace |
CFMMs as they are implemented today are often capital inefficient. In the constant product market maker formula used by Uniswap v1 and v2, only a fraction of the assets in the pool are available at a given price. This is inefficient, particularly when assets are expected to trade close to a particular price at all times.