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Master’s Dissertation Oral Defense, Nicolas Michel
April 2 @ 9:00 am - 10:00 am EDT
Title: ammBoost: State Growth Control for AMMs
MS Candidate: Nicolas Michel
Major Advisors: Dr. Ghada Almashaqbeh
Associate Advisor: Dr. Alexander Russell, Dr. Amir Herzberg
Date/Time: Tuesday, April 2nd, 2024, 9:00am
Location: HBL 1947
Webex link: https://uconn-cmr.webex.com/uconn-cmr/j.php?MTID=mdeda96402fafe4f06ba7b80ddc4ed380
Meeting number: 2634 738 4660
Password: dUtVwmfd255
Abstract:
Automated market makers (AMMs) are a form of decentralized cryptocurrency exchange, which are considered as a prime example of Decentralized Finance (DeFi). Their popularity, and consequently high trading activity, has led to scalability issues arising in terms of on-chain storage cost.
Uniswap, the most popular AMM currently generates approximately 2.5 million transactions per month on Ethereum, the growth of which was 27.08 Gb in February of 2024. In that same month, Uniswap accounted for approximately 9.3% of Ethereums’ total growth, across all protocols and transactions.
In this work, we address the on-chain storage problem of AMMs by utilizing the ChainBoost sidechain architecture as a layer 2 solution, building a system that we call ammBoost.
Our system reduces the amount of on-chain transactions, speeds up workload processing, and supports blockchain pruning. We devise several techniques to enable layer 2 processing for AMMs without compromising their security, and we build a proof-of-concept implementation of ammBoost to empirically evaluate its performance for a Uniswap-inspired use case. Our results show substantial efficiency gains in terms of storage cost and confirmation delay reduction, and throughput boosting.
