Key Takeaways
While constant function market makers (CFMMs) have facilitated hundreds of billions of dollars of trades, they provide users with little to no privacy
Recent work illustrates that privacy cannot be achieved in CFMMs without forcing worse pricing and/or latency on end users.
This paper more precisely quantifies the trade-off between pricing and privacy in CFMMs. We analyze a simple privacy-enhancing mechanism called Uniform Random Execution and prove that it provides a certain amount of differential privacy
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