# An Updating AMM to Bootstrap Liquidity in a Stable Manner | Neel Tiruviluamala - Forte

- Channel: [Ethereum Denver](https://streameth.org/ethereum-denver)
- Date: 2025-10-09
- Duration: 19:37
- Topics: ETHDenver, Crypto, Web3, Blockchain, Event, Conference, ETHDenver 2025, ETHDenver 2024, Bitcoin, Ethereum
- Watch: https://streameth.org/watch/yt-Qy0uqozXT10
- YouTube: https://www.youtube.com/watch?v=Qy0uqozXT10

## Description

Constant-function market makers (CFMMs) have a nice path independence property observed by Buterin and others: ignoring fees and liquidity additions, the price that the CFMM presents can be determined from only net inflows and outflows. In our extended updating curve framework, price IMPACT, instead of price, inherits this property.

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