Fee structures in CPMMs that depend only on the invariant k=xy ensure path independence, enabling a parametric family that achieves zero impermanent loss for specific initial states but not universally.
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Characterizing Path-Independent Fees: A Route to Zero Impermanent Loss in CPMMs
Fee structures in CPMMs that depend only on the invariant k=xy ensure path independence, enabling a parametric family that achieves zero impermanent loss for specific initial states but not universally.