The proper design of automated market makers (AMMs) is crucial to enable the continuous trading of assets represented as digital tokens on markets of cryptoeconomic systems. Improperly designed AMMs can make such markets suffer from the thin market problem (TMP), which can cause cryptoeconomic systems to fail their purposes. We developed an AMM taxonomy that showcases AMM design characteristics. Based on the AMM taxonomy, we devised AMM archetypes implementing principal solution approaches for the TMP. The main purpose of this article is to support practitioners and researchers in tackling the TMP through proper AMM designs.

翻译：自动做市商（AMM）的合理设计对于确保加密经济系统市场中数字代币所代表的资产能够持续交易至关重要。设计不当的AMM可能使此类市场遭受薄市场问题（TMP），进而导致加密经济系统无法实现其目标。我们构建了一个展示AMM设计特征的分类体系。基于此分类体系，我们提炼出若干AMM原型，这些原型体现了应对TMP的主要解决方案。本文的主要目的在于支持实践者和研究者通过合理的AMM设计来解决薄市场问题。