{"id":9356,"date":"2025-09-12T21:15:30","date_gmt":"2025-09-12T18:15:30","guid":{"rendered":"https:\/\/academy.tokonomo.com\/%d8%ba%d9%8a%d8%b1-%d9%85%d8%b5%d9%86%d9%81\/ja-ma-amm-ga-defi-ja-ga\/"},"modified":"2025-09-22T02:57:28","modified_gmt":"2025-09-21T23:57:28","slug":"ja-ma-amm-ga-defi-ja-ga","status":"publish","type":"post","link":"https:\/\/academy.tokonomo.com\/ko\/defi-pa\/ja-ma-amm-ga-defi-ja-ga\/","title":{"rendered":"\uc790\ub3d9\ud654\ub41c \ub9c8\ucf13 \uba54\uc774\ucee4(AMM)\ub780 \ubb34\uc5c7\uc778\uac00? DeFi \uac70\ub798 \ucd08\ubcf4\uc790 \uac00\uc774\ub4dc"},"content":{"rendered":"<div class=\"yoast-breadcrumbs\"><span><span><a href=\"https:\/\/academy.tokonomo.com\/ko\/\">Home<\/a><\/span> \u2192 <span><a href=\"https:\/\/academy.tokonomo.com\/ko\/category\/defi-pa\/\">DeFi(\ub514\ud30c\uc774)<\/a><\/span> \u2192 <span class=\"breadcrumb_last\" aria-current=\"page\">\uc790\ub3d9\ud654\ub41c \ub9c8\ucf13 \uba54\uc774\ucee4(AMM)\ub780 \ubb34\uc5c7\uc778\uac00? DeFi \uac70\ub798 \ucd08\ubcf4\uc790 \uac00\uc774\ub4dc<\/span><\/span><\/div>\n\n\n<div class=\"cnvs-block-toc cnvs-block-toc-1757695159303\" >\n\t<\/div>\n\n\n\n<h2 id=\"%ec%86%8c%ea%b0%9c\" class=\"wp-block-heading\">\uc18c\uac1c<\/h2>\n\n\n\n<p>\ud0c8\uc911\uc559\ud654 \uae08\uc735, \uc989 <a href=\"https:\/\/academy.tokonomo.com\/defi\/what-is-defi\/\" target=\"_blank\" rel=\"noreferrer noopener\">DeFi<\/a>\ub294 \uc911\uac1c\uc790 \uc5c6\uc774 \uac70\ub798, \ub300\ucd9c \ubc0f \ud22c\uc790\ub97c \ud560 \uc218 \uc788\ub294 \uc0c8\ub85c\uc6b4 \ubc29\uc2dd\uc744 \uc81c\uc2dc\ud558\uba70 \uc554\ud638\ud654\ud3d0 \uc138\uacc4\ub97c \ub4a4\ud754\ub4e4\uc5c8\uc2b5\ub2c8\ub2e4. \uc774 \ud601\uc2e0\uc758 \ud575\uc2ec\uc5d0\ub294 \ub9ce\uc740 \uc778\uae30 \uc788\ub294 DeFi \ud50c\ub7ab\ud3fc\uc744 \uad6c\ub3d9\ud558\ub294 \uac8c\uc784 \uccb4\uc778\uc800 \uae30\uc220\uc778 <strong>Automated Market Maker(AMM)<\/strong>\uac00 \uc788\uc2b5\ub2c8\ub2e4. \uc804\ud1b5\uc801\uc778 \uac70\ub798\uc18c \uc5c6\uc774\ub3c4 \ud1a0\ud070\uc744 \uc989\uc2dc \uc2a4\uc651\ud560 \uc218 \uc788\ub294 \ubc29\ubc95\uc774 \uad81\uae08\ud55c \ubd84\uc774\ub77c\uba74, AMM\uc774 \uadf8 \ud574\ub2f5\uc785\ub2c8\ub2e4. \uc774 \ucd08\ubcf4\uc790 \uac00\uc774\ub4dc\uc5d0\uc11c\ub294 <em>Automated Market Maker(AMM)\uc774\ub780 \ubb34\uc5c7\uc778\uc9c0<\/em>, \uc5b4\ub5bb\uac8c \uc791\ub3d9\ud558\ub294\uc9c0, \uadf8\ub9ac\uace0 \uc65c <em><a href=\"https:\/\/academy.tokonomo.com\/defi\/what-are-decentralized-exchanges-dexs-how-do-they-work\/\" target=\"_blank\" rel=\"noreferrer noopener\">\ud0c8\uc911\uc559\ud654 \uac70\ub798\uc18c(DEX)<\/a><\/em>\uc758 \ucd08\uc11d\uc774 \ub418\uc5c8\ub294\uc9c0 \uc124\uba85\ud569\ub2c8\ub2e4. <em>\uc720\ub3d9\uc131 \ud480<\/em>\uc5d0 \ub300\ud574 \uad81\uae08\ud558\uc2dc\uac70\ub098 <em>AMM \uac70\ub798 \uc804\ub7b5<\/em>\uc744 \ubc30\uc6b0\uace0 \uc2f6\ub2e4\uba74 \uc774 \uac00\uc774\ub4dc\uac00 \ub3c4\uc6c0\uc774 \ub420 \uac83\uc785\ub2c8\ub2e4.<\/p>\n\n\n\n<h2 id=\"automated-market-makeramm%ec%9d%b4%eb%9e%80-%eb%ac%b4%ec%97%87%ec%9d%b8%ea%b0%80\" class=\"wp-block-heading\">Automated Market Maker(AMM)\uc774\ub780 \ubb34\uc5c7\uc778\uac00?<\/h2>\n\n\n\n<p>\uae30\ubcf8\ubd80\ud130 \uc2dc\uc791\ud574 \ubcf4\uaca0\uc2b5\ub2c8\ub2e4. Automated Market Maker(AMM)\ub294 DeFi\uc5d0\uc11c \uc804\ud1b5\uc801\uc778 \uc911\uc559\ud654 \uac70\ub798\uc18c(\uc608: Binance, Coinbase)\uc758 \uc624\ub354\ubd81(order book)\uc744 \uc0ac\uc6a9\ud558\uc9c0 \uc54a\uace0 \uac70\ub798\ub97c \ucd09\uc9c4\ud558\uae30 \uc704\ud574 \uace0\uc548\ub41c \ud504\ub85c\ud1a0\ucf5c \uc720\ud615\uc785\ub2c8\ub2e4. \ub9e4\uc218\uc790\uc640 \ub9e4\ub3c4\uc790\ub97c \ub9e4\uce6d\ud558\ub294 \ub300\uc2e0, AMM\uc740 \uc54c\uace0\ub9ac\uc998\uacfc \uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8(\uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8)\ub97c \ud1b5\ud574 \uc790\uc0b0 \uac00\uaca9\uc744 \uacb0\uc815\ud558\uace0 \uac70\ub798\ub97c \uc2e4\ud589\ud569\ub2c8\ub2e4. \uc5b8\uc81c\ub4e0\uc9c0 \uac70\ub798\ud560 \uc900\ube44\uac00 \ub41c \uc790\ub3d9\ud654\ub41c \uc2dc\uc7a5 \uc870\uc131\uc790\ub77c\uace0 \uc0dd\uac01\ud558\uc2dc\uba74 \ub429\ub2c8\ub2e4.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"577\" src=\"https:\/\/academy.tokonomo.com\/wp-content\/uploads\/2025\/09\/What-Does-the-Future-of-DeFi-Look-Like-\u043a\u043e\u043f\u0438\u044f-2-2-1024x577.png\" alt=\"Automated Market Maker(AMM)\uc774\ub780 \ubb34\uc5c7\uc778\uac00?\" class=\"wp-image-9199\" srcset=\"https:\/\/academy.tokonomo.com\/wp-content\/uploads\/2025\/09\/What-Does-the-Future-of-DeFi-Look-Like-\u043a\u043e\u043f\u0438\u044f-2-2-1024x577.png 1024w, https:\/\/academy.tokonomo.com\/wp-content\/uploads\/2025\/09\/What-Does-the-Future-of-DeFi-Look-Like-\u043a\u043e\u043f\u0438\u044f-2-2-300x169.png 300w, https:\/\/academy.tokonomo.com\/wp-content\/uploads\/2025\/09\/What-Does-the-Future-of-DeFi-Look-Like-\u043a\u043e\u043f\u0438\u044f-2-2-768x433.png 768w, https:\/\/academy.tokonomo.com\/wp-content\/uploads\/2025\/09\/What-Does-the-Future-of-DeFi-Look-Like-\u043a\u043e\u043f\u0438\u044f-2-2.png 1640w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>\uc804\ud1b5 \uc2dc\uc7a5\uc5d0\uc11c\ub294 \uc720\ub3d9\uc131\uc774 \ud65c\ubc1c\ud55c \ucc38\uac00\uc790\uc5d0 \ub530\ub77c \ub2ec\ub77c\uc9c0\uc9c0\ub9cc, AMM\uc740 \uc0ac\uc6a9\uc790\uac00 \uc81c\uacf5\ud558\ub294 \ud1a0\ud070 \ubaa8\uc74c\uc778 <em><a href=\"https:\/\/academy.tokonomo.com\/defi\/understanding-dex-liquidity-pools-what-they-are-and-how-they-work\/\" target=\"_blank\" rel=\"noreferrer noopener\">\uc720\ub3d9\uc131 \ud480<\/a><\/em>\uc744 \uc0ac\uc6a9\ud558\uc5ec \ud56d\uc0c1 \ucda9\ubd84\ud55c \uc720\ub3d9\uc131\uc744 \ubcf4\uc7a5\ud569\ub2c8\ub2e4. Uniswap\uacfc \uac19\uc740 \ud50c\ub7ab\ud3fc\uc774 \uac1c\ucc99\ud55c \uc774 \ud601\uc2e0 \ub355\ubd84\uc5d0 \uc778\ud130\ub137\uacfc \uc554\ud638\ud654\ud3d0 \uc9c0\uac11\ub9cc \uc788\uc73c\uba74 \ub204\uad6c\ub098 <em>DeFi \uac70\ub798<\/em>\uc5d0 \uc811\uadfc\ud560 \uc218 \uc788\uac8c \ub418\uc5c8\uc2b5\ub2c8\ub2e4. <a href=\"https:\/\/defillama.com\/\">DeFiLlama<\/a>\uc758 \ub370\uc774\ud130(2025\ub144 9\uc6d4 \uae30\uc900)\uc5d0 \ub530\ub974\uba74 \ucd1d\uc608\uce58\uae08(<strong>TVL<\/strong>) \uc911 1,600\uc5b5 \ub2ec\ub7ec \uc774\uc0c1\uc774 DeFi \ud504\ub85c\ud1a0\ucf5c\uc5d0 \ubb36\uc5ec \uc788\uc73c\uba70, \uadf8 \uc911 \uc0c1\ub2f9 \ubd80\ubd84\uc774 AMM \uae30\ubc18\uc758 <em>\ud0c8\uc911\uc559\ud654 \uac70\ub798\uc18c<\/em>\ub97c \uad6c\ub3d9\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n<h2 id=\"amm%ea%b0%80-%ec%a1%b4%ec%9e%ac%ed%95%98%eb%8a%94-%ec%9d%b4%ec%9c%a0-%ec%9d%b4%eb%93%a4%ec%9d%b4-%ed%95%b4%ea%b2%b0%ed%95%98%eb%8a%94-%eb%ac%b8%ec%a0%9c\" class=\"wp-block-heading\">AMM\uac00 \uc874\uc7ac\ud558\ub294 \uc774\uc720: \uc774\ub4e4\uc774 \ud574\uacb0\ud558\ub294 \ubb38\uc81c<\/h2>\n\n\n\n<p>AMM\uac00 \ub4f1\uc7a5\ud558\uae30 \uc804\uc5d0\ub294 \uc778\uc9c0\ub3c4\uac00 \ub0ae\uc740 \ud1a0\ud070\uc744 \uac70\ub798\ud558\ub294 \uac83\uc774 \ud070 \uace8\uce6b\uac70\ub9ac\uc600\uc2b5\ub2c8\ub2e4. \uc911\uc559\ud654 \uac70\ub798\uc18c\ub294 \uac70\ub798\ub7c9\uc774 \uc801\uc740 \uc18c\uaddc\ubaa8 \ub610\ub294 \ud2c8\uc0c8 \ud1a0\ud070\uc758 \uc0c1\uc7a5\uc744 \uaebc\ub9ac\ub294 \uacbd\uc6b0\uac00 \ub9ce\uc544 \ud22c\uc790\uc790 \uc120\ud0dd\uc9c0\uac00 \uc81c\ud55c\ub418\uace4 \ud588\uc2b5\ub2c8\ub2e4. \uc124\uc0ac \uc0c1\uc7a5\ub418\ub354\ub77c\ub3c4 \uc587\uc740 \uc624\ub354\ubd81\uc73c\ub85c \uc778\ud574 \uc2ac\ub9ac\ud53c\uc9c0\uc640 \uac00\uaca9 \ubd88\ub9ac\ud568\uc774 \ubc1c\uc0dd\ud558\uace4 \ud588\uc2b5\ub2c8\ub2e4. \ubc14\ub85c \uc774 \ubb38\uc81c\ub97c \ud574\uacb0\ud558\uae30 \uc704\ud574 AMM\uac00 \ub4f1\uc7a5\ud588\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n<p>AMM\uc740 \ub204\uad6c\ub098 \uc5b4\ub5a4 \ud1a0\ud070 \uc30d\uc758 \uc2dc\uc7a5\uc744 \ub9cc\ub4e4 \uc218 \uc788\uac8c \ud574 \uac70\ub798\ub97c \ubbfc\uc8fc\ud654\ud569\ub2c8\ub2e4. \uc0c1\ub300 \uac70\ub798\uc790\uac00 \ud544\uc694 \uc5c6\uae30 \ub54c\ubb38\uc5d0 \uac70\ub798\uc758 \ubc18\ub300\ud3b8\uc744 \ub204\uad70\uac00\uac00 \uae30\ub2e4\ub9b4 \ud544\uc694\uac00 \uc5c6\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uc720\ub3d9\uc131\uc774 \ub0ae\uc740 \uc2dc\uc7a5\uc5d0\uc11c\ub3c4 \uc790\uc0b0\uc744 \uc6d0\ud65c\ud558\uac8c \uad50\ud658\ud560 \uc218 \uc788\uac8c \ud574\uc8fc\uc5b4 <em>DeFi \uac70\ub798<\/em>\uc5d0 \ud070 \uc804\ud658\uc810\uc744 \uc81c\uacf5\ud588\uc2b5\ub2c8\ub2e4. \ubd84\uc11d\uac00\ub4e4\uc5d0 \ub530\ub974\uba74 AMM\ub294 2020\ub144 \uc774\ud6c4 \uc218\ubc31\ub9cc \uc0ac\uc6a9\uc790\ub97c DeFi\ub85c \uc628\ubcf4\ub529\ud558\ub294 \ub370 \ud575\uc2ec \uc5ed\ud560\uc744 \ud588\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n<h2 id=\"amm%ec%9d%98-%ec%9e%91%eb%8f%99-%ec%9b%90%eb%a6%ac\" class=\"wp-block-heading\">AMM\uc758 \uc791\ub3d9 \uc6d0\ub9ac<\/h2>\n\n\n\n<p>\uc774\uc81c \u2018\uc65c\u2019\uc5d0 \ub300\ud574 \ub2e4\ub918\uc73c\ub2c8 \u2018\uc5b4\ub5bb\uac8c\u2019\uc5d0 \ub300\ud574 \uc0b4\ud3b4\ubcf4\uaca0\uc2b5\ub2c8\ub2e4. AMM\ub294 \ud575\uc2ec\uc801\uc73c\ub85c \uc774\ub354\ub9ac\uc6c0 \uac19\uc740 \ube14\ub85d\uccb4\uc778 \uc704\uc5d0\uc11c \uac70\ub798\uc640 \uac00\uaca9 \ucc45\uc815\uc744 \uad00\ub9ac\ud558\ub294 \uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8(\uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8)\uc5d0 \uc758\ud574 \uad6c\ub3d9\ub429\ub2c8\ub2e4. \uadf8\ub807\ub2e4\uba74 \ubb34\uc5c7\uc774 AMM\ub97c \uc6c0\uc9c1\uc774\uac8c \ud560\uae4c\uc694? \ud575\uc2ec \uad6c\uc131 \uc694\uc18c\ub85c \ub098\ub220\uc11c \uc124\uba85\ud558\uaca0\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n<h3 id=\"%ed%95%b5%ec%8b%ac-%ea%b0%9c%eb%85%90-%ec%9c%a0%eb%8f%99%ec%84%b1-%ed%92%80\" class=\"wp-block-heading\">\ud575\uc2ec \uac1c\ub150: \uc720\ub3d9\uc131 \ud480<\/h3>\n\n\n\n<p>\uc624\ub354\ubd81 \ub300\uc2e0 AMM\uc740 <strong><a href=\"https:\/\/academy.tokonomo.com\/defi\/understanding-dex-liquidity-pools-what-they-are-and-how-they-work\/\" target=\"_blank\" rel=\"noreferrer noopener\">\uc720\ub3d9\uc131 \ud480<\/a><\/strong>\uc5d0 \uc758\uc874\ud569\ub2c8\ub2e4. \uc720\ub3d9\uc131 \ud480\uc740 \uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8\uc5d0 \uc7a0\uae34 \ub450 \uac1c \uc774\uc0c1\uc758 \ud1a0\ud070\uc73c\ub85c \uad6c\uc131\ub41c \ud480\ub85c, \uc720\ub3d9\uc131 \uc81c\uacf5\uc790(\uc720\ub3d9\uc131 \uc81c\uacf5\uc790(LP))\ub4e4\uc774 \uae30\uc5ec\ud569\ub2c8\ub2e4. \uc608\ub97c \ub4e4\uc5b4 Uniswap\uc758 \ud480\uc740 ETH\uc640 USDC \uac19\uc740 \uc2a4\ud14c\uc774\ube14\ucf54\uc778\uc73c\ub85c \uad6c\uc131\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4. ETH\ub97c USDC\ub85c \uad50\ud658\ud560 \ub54c, \uc2e4\uc81c\ub85c\ub294 \ub2e4\ub978 \ud2b8\ub808\uc774\ub354\uac00 \uc544\ub2c8\ub77c \uc774 \ud480\uacfc \uc0c1\ud638\uc791\uc6a9\ud558\ub294 \uac83\uc785\ub2c8\ub2e4. \uac70\ub798\uac00 \ubc1c\uc0dd\ud560\uc218\ub85d \ud480\uc758 \uc794\uc561\uc774 \ubcc0\ud558\uace0 \uac00\uaca9\ub3c4 \uadf8\uc5d0 \ub530\ub77c \uc870\uc815\ub429\ub2c8\ub2e4.<\/p>\n\n\n\n<p>\uc720\ub3d9\uc131 \uc81c\uacf5\uc790\ub294 \uac70\ub798 \uc218\uc218\ub8cc\uc758 \uc77c\ubd80\ub97c \ubc8c\uc5b4 \uc778\uc13c\ud2f0\ube0c\ub97c \uc5bb\uc2b5\ub2c8\ub2e4. \uc774 \uc2dc\uc2a4\ud15c \ub355\ubd84\uc5d0 \uc798 \uc54c\ub824\uc9c0\uc9c0 \uc54a\uc740 \ud1a0\ud070\uc774\ub77c\ub3c4 \ud56d\uc0c1 <em>AMM \uac70\ub798 \uc804\ub7b5<\/em>\uc744 \uc704\ud55c \uc720\ub3d9\uc131\uc774 \ud655\ubcf4\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n<h3 id=\"amm-%ec%88%98%ec%8b%9dxyk\" class=\"wp-block-heading\">AMM \uc218\uc2dd(x*y=k)<\/h3>\n\n\n\n<p>\uc5ec\uae30\uc11c \ub9c8\ubc95\uc774 \uc77c\uc5b4\ub0a9\ub2c8\ub2e4. \ub300\ubd80\ubd84\uc758 AMM\uc740 \uac00\uaca9\uc744 \uacb0\uc815\ud558\uae30 \uc704\ud574 \uc218\ud559\uc801 \uacf5\uc2dd\uc744 \uc0ac\uc6a9\ud558\uba70, \uac00\uc7a5 \ud754\ud55c \uac83\uc740 \uc0c1\uc218\uacf1 \uacf5\uc2dd\uc778 <strong>x*y=k<\/strong>\uc785\ub2c8\ub2e4. \uc774 \ubc29\uc815\uc2dd\uc5d0\uc11c \u201cx\u201d\uc640 \u201cy\u201d\ub294 \ud480\uc5d0 \uc788\ub294 \ub450 \ud1a0\ud070\uc758 \uc218\ub7c9\uc744 \ub098\ud0c0\ub0b4\uace0, \u201ck\u201d\ub294 \uc0c1\uc218\uc785\ub2c8\ub2e4. \uc774 \uacf5\uc2dd\uc740 \uac70\ub798\uac00 \uc77c\uc5b4\ub098\ub354\ub77c\ub3c4 \ub450 \ud1a0\ud070 \uc218\ub7c9\uc758 \uacf1\uc774 \uc77c\uc815\ud558\uac8c \uc720\uc9c0\ub418\ub3c4\ub85d \ubcf4\uc7a5\ud569\ub2c8\ub2e4.<\/p>\n\n\n\n<p>\uc608\ub97c \ub4e4\uc5b4 \ud480\uc5d0 100 ETH\uc640 200,000 USDC\uac00 \uc788\ub2e4\uba74 k = 20,000,000\uc774 \ub429\ub2c8\ub2e4. \ub204\uad70\uac00 1 ETH\ub97c \ub9e4\uc218\ud558\uba74 \ud480\uc740 \uc0c1\uc218 \u201ck\u201d\ub97c \uc720\uc9c0\ud558\uae30 \uc704\ud574 USDC \uc218\ub7c9\uc744 \uc870\uc815\ud574\uc57c \ud569\ub2c8\ub2e4. \uacb0\uacfc\uc801\uc73c\ub85c \ud480 \ub0b4 ETH \uacf5\uae09\uc774 \uc904\uc5b4\ub4e4\uba70 ETH \uac00\uaca9\uc740 \uc0c1\uc2b9\ud569\ub2c8\ub2e4. \uc774 \uba54\ucee4\ub2c8\uc998\uc740 <em>\ud0c8\uc911\uc559\ud654 \uac70\ub798<\/em>\uc758 \ud575\uc2ec \uc6d0\ub9ac\uc774\uba70, \uc0ac\ub78c\uc758 \uac1c\uc785 \uc5c6\uc774 \uc790\ub3d9\uc73c\ub85c \uac00\uaca9\uc744 \ubc1c\uacac\ud558\uac8c \ud574\uc90d\ub2c8\ub2e4.<\/p>\n\n\n\n<h3 id=\"%ec%88%98%ec%88%98%eb%a3%8c%ec%99%80-%ec%9d%b8%ec%84%bc%ed%8b%b0%eb%b8%8c\" class=\"wp-block-heading\">\uc218\uc218\ub8cc\uc640 \uc778\uc13c\ud2f0\ube0c<\/h3>\n\n\n\n<p>AMM\uc5d0\uc11c\uc758 \uac70\ub798\ub294 \ubb34\ub8cc\uac00 \uc544\ub2d9\ub2c8\ub2e4. \uac01 \uac70\ub798\uc5d0\ub294 \ubcf4\ud1b5 0.1%\uc5d0\uc11c 0.3% \uc0ac\uc774\uc758 \uc791\uc740 \uc218\uc218\ub8cc\uac00 \ubd80\uacfc\ub418\uba70, \uc774\ub294 \uc720\ub3d9\uc131 \uc81c\uacf5\uc790\uc5d0\uac8c \ubcf4\uc0c1\uc73c\ub85c \ubd84\ubc30\ub429\ub2c8\ub2e4. \uc774 \uc218\uc218\ub8cc \uad6c\uc870\ub294 LP\uc5d0\uac8c \ubcf4\uc0c1\uc744 \uc81c\uacf5\ud560 \ubfd0\ub9cc \uc544\ub2c8\ub77c \ud480\uc744 \ubd88\uc548\uc815\ud558\uac8c \ub9cc\ub4e4 \uc218 \uc788\ub294 \uacfc\ub3c4\ud55c \uac70\ub798\ub97c \uc5b5\uc81c\ud558\ub294 \uc5ed\ud560\ub3c4 \ud569\ub2c8\ub2e4. Curve\uc640 \uac19\uc740 \uc77c\ubd80 \ud50c\ub7ab\ud3fc\uc740 \ucd94\uac00\ub85c <a href=\"https:\/\/academy.tokonomo.com\/defi\/what-is-yield-farming-in-defi\/\" target=\"_blank\" rel=\"noreferrer noopener\">yield farming<\/a>\uc744 \ud1b5\ud574 \uc218\uc218\ub8cc \uc678 \ubcf4\uc0c1\uc744 \uc81c\uacf5\ud558\uae30\ub3c4 \ud569\ub2c8\ub2e4. \uc774\ub294 <em>DeFi\uc5d0\uc11c\uc758 \uc720\ub3d9\uc131 \uacf5\uae09<\/em>\uc5d0 \ucc38\uc5ec\ud558\ub294 \uc774\ub4e4\uc5d0\uac8c \uc708\uc708 \uad6c\uc870\uc785\ub2c8\ub2e4.<\/p>\n\n\n\n<h2 id=\"%ec%9d%b8%ea%b8%b0-%ec%9e%88%eb%8a%94-amm-%ec%9c%a0%ed%98%95\" class=\"wp-block-heading\">\uc778\uae30 \uc788\ub294 AMM \uc720\ud615<\/h2>\n\n\n\n<p>\ubaa8\ub4e0 AMM\uc774 \ub3d9\uc77c\ud558\uac8c \ub9cc\ub4e4\uc5b4\uc9c4 \uac83\uc740 \uc544\ub2d9\ub2c8\ub2e4. \uac1c\ubc1c\uc790\ub4e4\uc740 \ub2e4\uc591\ud55c \uc0ac\uc6a9 \uc0ac\ub840\uc5d0 \ub9de\ucdb0 \uae30\ubcf8 \ubaa8\ub378\uc744 \uc5ec\ub7ec \ubc29\uc2dd\uc73c\ub85c \uac1c\uc120\ud574 \uc654\uc2b5\ub2c8\ub2e4. \uc624\ub298\ub0a0 <em>DeFi \uac70\ub798<\/em>\ub97c \ud615\uc131\ud558\ub294 \ub300\ud45c\uc801\uc778 \uc720\ud615\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\uc0c1\uc218\uacf1 \ub9c8\ucf13 \uba54\uc774\ucee4(Constant Product Market Makers, CPMM):<\/strong> Uniswap\uc5d0\uc11c \uc0ac\uc6a9\ub418\ub294 \ubc29\uc2dd\uc73c\ub85c x*y=k \uacf5\uc2dd\uc744 \ub530\ub985\ub2c8\ub2e4. \uc77c\ubc18\uc801\uc778 \ud1a0\ud070 \uc2a4\uc651\uc5d0 \uc801\ud569\ud569\ub2c8\ub2e4.<\/li>\n\n\n\n<li><strong>\uc0c1\uc218\ud569 \ub9c8\ucf13 \uba54\uc774\ucee4(Constant Sum Market Makers, CSMM):<\/strong> x+y=k \ud615\ud0dc\ub85c \ud1a0\ud070\uc758 \ud569\uc744 \uc77c\uc815\ud558\uac8c \uc720\uc9c0\ud558\uba70, \uac00\uaca9 \ubcc0\ub3d9\uc774 \uac70\uc758 \uc5c6\ub294 \uc2a4\ud14c\uc774\ube14\ucf54\uc778 \ud398\uc5b4\uc5d0 \uc801\ud569\ud569\ub2c8\ub2e4.<\/li>\n\n\n\n<li><strong>\ud558\uc774\ube0c\ub9ac\ub4dc AMM:<\/strong> Balancer\uc640 \uac19\uc740 \ud50c\ub7ab\ud3fc\uc740 \uc5ec\ub7ec \uacf5\uc2dd\uc744 \uacb0\ud569\ud558\uc5ec \ub450 \uac1c \uc774\uc0c1\uc758 \ud1a0\ud070\uc744 \uc9c0\uc6d0\ud558\ub294 \ud480\uc744 \uad6c\uc131\ud560 \uc218 \uc788\uc5b4 \ubcf5\uc7a1\ud55c <em>AMM \uac70\ub798 \uc804\ub7b5<\/em>\uc5d0 \uc720\uc5f0\uc131\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4.<\/li>\n<\/ul>\n\n\n\n<p>\uac01 \uc720\ud615\uc740 \uac15\uc810\uc774 \ub2e4\ub974\uba70, \uc801\uc808\ud55c \uc120\ud0dd\uc740 \uadc0\ud558\uc758 <em>\ud0c8\uc911\uc559\ud654 \uac70\ub798<\/em> \ubaa9\ud45c\uc5d0 \ub2ec\ub824 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n<h2 id=\"amm-%ec%82%ac%ec%9a%a9%ec%9d%98-%ec%9d%b4%ec%a0%90\" class=\"wp-block-heading\">AMM \uc0ac\uc6a9\uc758 \uc774\uc810<\/h2>\n\n\n\n<p>\uc65c AMM\uc5d0 \uad00\uc2ec\uc744 \uac00\uc838\uc57c \ud560\uae4c\uc694? \uc6b0\uc120, AMM \ub355\ubd84\uc5d0 <em>DeFi \uac70\ub798<\/em> \uc811\uadfc\uc131\uc774 \ud06c\uac8c \ud5a5\uc0c1\ub418\uc5c8\uc2b5\ub2c8\ub2e4. \uc8fc\uc694 \uc774\uc810\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>24\uc2dc\uac04 \uc720\ub3d9\uc131:<\/strong> \uc911\uc559\ud654 \uac70\ub798\uc18c\uc640 \ub2ec\ub9ac AMM\uc740 \ud56d\uc0c1 \uc791\ub3d9\ud558\ubbc0\ub85c \uc5b8\uc81c\ub4e0\uc9c0 \uac70\ub798\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li>\n\n\n\n<li><strong>\ubb34\ud5c8\uac00 \uc811\uadfc:<\/strong> KYC \uc5c6\uc774 \uc9c0\uac11\uc744 \uc5f0\uacb0\ud558\uae30\ub9cc \ud558\uba74 <em>\ud0c8\uc911\uc559\ud654 \uac70\ub798\uc18c<\/em>\uc5d0\uc11c \uac70\ub798\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li>\n\n\n\n<li><strong>\ud1a0\ud070 \ub2e4\uc591\uc131:<\/strong> AMM\uc740 \uc8fc\uc694 \uac70\ub798\uc18c\uc5d0 \uc0c1\uc7a5\ub418\uc9c0 \uc54a\uc740 \ub2e4\uc591\ud55c \ud1a0\ud070 \ud398\uc5b4\uae4c\uc9c0 \uc9c0\uc6d0\ud569\ub2c8\ub2e4.<\/li>\n\n\n\n<li><strong>\uc218\uc775 \uae30\ud68c:<\/strong> <em>DeFi\uc5d0\uc11c\uc758 \uc720\ub3d9\uc131 \uacf5\uae09<\/em>\uc744 \ud1b5\ud574 \uac70\ub798 \uc218\uc218\ub8cc\uc640 \ubcf4\uc0c1\uc73c\ub85c \uc218\ub3d9 \uc18c\ub4dd\uc744 \uc5bb\uc744 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li>\n<\/ul>\n\n\n\n<p>\uc774 \uac19\uc740 \uc7a5\uc810 \ub355\ubd84\uc5d0 AMM\ub294 \ud3ed\ubc1c\uc801\uc73c\ub85c \uc131\uc7a5\ud588\uc73c\uba70, Uniswap\uacfc \uac19\uc740 \ud50c\ub7ab\ud3fc\uc740 Messari\uc758 2025\ub144 2\ubd84\uae30 \ubcf4\uace0\uc11c \uae30\uc900\uc73c\ub85c \uc77c\uc77c \uc218\uc2ed\uc5b5 \ub2ec\ub7ec\uc758 \uac70\ub798\ub7c9\uc744 \ucc98\ub9ac\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n\n\n\n<h2 id=\"amm%ec%9d%98-%ec%9c%84%ed%97%98-%eb%b0%8f-%ea%b3%bc%ec%a0%9c\" class=\"wp-block-heading\">AMM\uc758 \uc704\ud5d8 \ubc0f \uacfc\uc81c<\/h2>\n\n\n\n<p>AMM\ub294 \ud601\uc2e0\uc801\uc774\uc9c0\ub9cc \uc644\ubcbd\ud558\uc9c0\ub294 \uc54a\uc2b5\ub2c8\ub2e4. <em>DeFi \uac70\ub798<\/em>\uc5d0 \ub6f0\uc5b4\ub4e4 \uacc4\ud68d\uc774\ub77c\uba74 \ub2e4\uc74c\uacfc \uac19\uc740 \uc704\ud5d8\uc744 \uc778\uc9c0\ud574\uc57c \ud569\ub2c8\ub2e4:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/academy.tokonomo.com\/defi\/what-is-impermanent-loss-how-to-protect-your-funds-in-liquidity-pools\/\" target=\"_blank\" rel=\"noreferrer noopener\">\uc784\ud37c\uba38\ub10c\ud2b8 \ub85c\uc2a4<\/a>:<\/strong> \ud480 \ub0b4 \ud1a0\ud070\ub4e4\uc758 \uac00\uaca9\uc774 \ud06c\uac8c \uad34\ub9ac\ub418\uba74 \uc720\ub3d9\uc131 \uc81c\uacf5\uc790\uac00 \uc190\uc2e4\uc744 \uc785\uc744 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub294 <em>DeFi\uc5d0\uc11c\uc758 \uc720\ub3d9\uc131 \uacf5\uae09<\/em>\uc758 \uc228\uaca8\uc9c4 \ube44\uc6a9\uc785\ub2c8\ub2e4.<\/li>\n\n\n\n<li><strong>\uc2ac\ub9ac\ud53c\uc9c0:<\/strong> \uc791\uc740 \ud480\uc5d0\uc11c \ub300\uaddc\ubaa8 \uac70\ub798\uac00 \uc77c\uc5b4\ub098\uba74 \uac00\uaca9\uc774 \ud06c\uac8c \ubcc0\ub3d9\ud574 \uc608\uae30\uce58 \uc54a\uc740 \uc190\uc2e4\uc774 \ubc1c\uc0dd\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/li>\n\n\n\n<li><strong>\uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8 \uc704\ud5d8:<\/strong> AMM \ud504\ub85c\ud1a0\ucf5c\uc758 \ucf54\ub4dc\uc5d0 \ubc84\uadf8\ub098 \ucde8\uc57d\uc810\uc774 \uc788\uc73c\uba74 \uc790\uae08\uc774 \ub3c4\ub09c\ub2f9\ud558\uac70\ub098 \uc190\uc2e4\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ud56d\uc0c1 \ud50c\ub7ab\ud3fc\uc758 \ubcf4\uc548 \uc774\ub825\uc744 \ud655\uc778\ud558\uc138\uc694.<\/li>\n<\/ul>\n\n\n\n<p>\uc774\ub7ec\ud55c \uacfc\uc81c\ub97c \ud5e4\uccd0 \ub098\uac00\ub824\uba74 \uc8fc\uc758\uac00 \ud544\uc694\ud558\uba70 <em>AMM \uac70\ub798 \uc804\ub7b5<\/em>\uc5d0 \ub300\ud55c \ud0c4\ud0c4\ud55c \uc774\ud574\uac00 \ud544\uc694\ud569\ub2c8\ub2e4. \ubb34\ud131\ub300\uace0 \ub6f0\uc5b4\ub4e4\uc9c0 \ub9d0\uace0 \uc0ac\uc804 \uc870\uc0ac\ub97c \ucca0\uc800\ud788 \ud558\uc138\uc694.<\/p>\n\n\n\n<h2 id=\"amm-%ec%8b%9c%ec%9e%91%ed%95%98%eb%8a%94-%eb%b0%a9%eb%b2%95\" class=\"wp-block-heading\">AMM \uc2dc\uc791\ud558\ub294 \ubc29\ubc95<\/h2>\n\n\n\n<p>\ud0c8\uc911\uc559\ud654 \uac70\ub798\uc18c \uac70\ub798\ub97c \ud0d0\uc0c9\ud560 \uc900\ube44\uac00 \ub418\uc168\ub098\uc694? AMM\ub97c \uc2dc\uc791\ud558\uae30 \uc704\ud55c \uac04\ub2e8\ud55c \ub85c\ub4dc\ub9f5\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\uc9c0\uac11 \uc124\uc815:<\/strong> MetaMask \uac19\uc740 \ube44\uc218\ud0c1 \uc9c0\uac11(Non-custodial wallet)\uc744 \uc0ac\uc6a9\ud574 DeFi \ud50c\ub7ab\ud3fc\uacfc \uc0c1\ud638\uc791\uc6a9\ud558\uc138\uc694.<\/li>\n\n\n\n<li><strong>\ud50c\ub7ab\ud3fc \uc120\ud0dd:<\/strong> \uc778\uae30 \uc788\ub294 AMM\uc73c\ub85c\ub294 Uniswap, SushiSwap, Curve\uac00 \uc788\uc2b5\ub2c8\ub2e4. \uac70\ub798 \ud544\uc694\uc5d0 \ub9de\ucdb0 \uc120\ud0dd\ud558\uc138\uc694.<\/li>\n\n\n\n<li><strong>\uc9c0\uac11\uc5d0 \uc790\uae08 \ucd94\uac00:<\/strong> \uac00\uc2a4 \uc218\uc218\ub8cc\uc640 \uac70\ub798\ub97c \uc704\ud574 ETH\ub098 \ub2e4\ub978 \uae30\ubcf8 \ud1a0\ud070\uc744 \ub123\uc73c\uc138\uc694.<\/li>\n\n\n\n<li><strong>\uac70\ub798 \ub610\ub294 \uc720\ub3d9\uc131 \uc81c\uacf5:<\/strong> \ud1a0\ud070\uc744 \uc9c1\uc811 \uc2a4\uc651\ud558\uac70\ub098 \uc720\ub3d9\uc131 \ud480\uc5d0 \uc790\uc0b0\uc744 \uc608\uce58\ud574 \uc218\uc218\ub8cc\ub97c \ubc8c\uc5b4\ubcf4\uc138\uc694.<\/li>\n<\/ul>\n\n\n\n<p>\uc18c\uc561\uc73c\ub85c \uc2dc\uc791\ud574 \ub2e4\uc591\ud55c <em>AMM \uac70\ub798 \uc804\ub7b5<\/em>\uc744 \uc2e4\ud5d8\ud558\uace0, \uac70\ub798 \uc138\ubd80\uc0ac\ud56d\uc744 \ud56d\uc0c1 \uc7ac\ud655\uc778\ud574 \ube44\uc6a9\uc774 \ub9ce\uc774 \ub4dc\ub294 \uc2e4\uc218\ub97c \ud53c\ud558\uc138\uc694. DeFi\ub97c \ub354 \uae4a\uc774 \ubc30\uc6b0\uace0 \uc2f6\ub2e4\uba74 DeFi Academy\uc758 \uc885\ud569 \uac00\uc774\ub4dc\ub97c \ucc38\uace0\ud558\uc138\uc694.<\/p>\n\n\n\n<h2 id=\"amm%ec%9d%98-%eb%af%b8%eb%9e%98\" class=\"wp-block-heading\">AMM\uc758 \ubbf8\ub798<\/h2>\n\n\n\n<p>AMM\ub294 \uc5b4\ub514\ub85c \ud5a5\ud558\uace0 \uc788\uc744\uae4c\uc694? <a href=\"https:\/\/academy.tokonomo.com\/defi\/what-is-defi\/\" target=\"_blank\" rel=\"noreferrer noopener\">DeFi<\/a>\uac00 \ubc1c\uc804\ud568\uc5d0 \ub530\ub77c \uc774\ub7ec\ud55c \ud504\ub85c\ud1a0\ucf5c\ub3c4 \uc9c4\ud654\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. Uniswap V3\uac00 \ub3c4\uc785\ud55c \uc9d1\uc911 \uc720\ub3d9\uc131(concentrated liquidity)\uacfc \uac19\uc740 \ud601\uc2e0\uc740 \ud480\uc758 \uc790\ubcf8 \ud6a8\uc728\uc131\uc744 \ub192\uc774\uace0 \uc788\uc73c\uba70, \ud06c\ub85c\uc2a4\uccb4\uc778 AMM\uc740 \ube14\ub85d\uccb4\uc778 \uac04 \uc720\ub3d9\uc131\uc744 \ube0c\ub9ac\uc9d5(bridging)\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. AMM \ub2e8\ub3c5\uc73c\ub85c TVL 500\uc5b5 \ub2ec\ub7ec \uc774\uc0c1\uc774 \ubb36\uc5ec \uc788\ub2e4\ub294 \uc810(DeFiLlama, 2025\ub144 9\uc6d4 \uae30\uc900)\uc744 \ubcf4\uba74 \ubbf8\ub798\ub294 \ubc1d\uc544 \ubcf4\uc785\ub2c8\ub2e4.<\/p>\n\n\n\n<p>\uadf8\ub7ec\ub098 \uaddc\uc81c\uc758 \uac10\ub3c5 \uac15\ud654\uc640 \ud655\uc7a5\uc131 \ubb38\uc81c\ub294 \uc5ec\uc804\ud788 \ud070 \uacfc\uc81c\ub85c \ub0a8\uc544 \uc788\uc2b5\ub2c8\ub2e4. AMM\uac00 \ub354 \uc5c4\uaca9\ud55c \uaddc\uce59\uc5d0 \uc801\uc751\ud560\uc9c0, \uc544\ub2c8\uba74 \uae08\uc735\uc758 &#8216;\uc640\uc77c\ub4dc \uc6e8\uc2a4\ud2b8&#8217;\ub85c \ub0a8\uc744\uc9c0\ub294 \uc2dc\uac04\uc774 \uc9c0\ub098\ubd10\uc57c \uc54c \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ub2e4\ub9cc \ud55c \uac00\uc9c0\ub294 \ubd84\uba85\ud569\ub2c8\ub2e4. AMM\ub294 \uc55e\uc73c\ub85c\ub3c4 \uc218\ub144\uac04 <em>DeFi \uac70\ub798<\/em>\uc758 \ud615\ud0dc\ub97c \ub9cc\ub4e4\uc5b4 \ub098\uac08 \uac83\uc785\ub2c8\ub2e4.<\/p>\n\n\n\n<h2 id=\"%ea%b2%b0%eb%a1%a0\" class=\"wp-block-heading\">\uacb0\ub860<\/h2>\n\n\n\n<p>\uc720\ub3d9\uc131 \ubb38\uc81c \ud574\uacb0\uc5d0\uc11c \ubb34\ud5c8\uac00 \uac70\ub798\uc758 \uc2e4\ud604\uae4c\uc9c0, <strong>Automated Market Maker(AMM)<\/strong>\ub294 <em>DeFi \uac70\ub798<\/em>\uc5d0\uc11c \uac00\ub2a5\ud55c \uac83\uc758 \ubc94\uc704\ub97c \uc7ac\uc815\uc758\ud588\uc2b5\ub2c8\ub2e4. \ud0c8\uc911\uc559\ud654 \uac70\ub798\uc18c\uc5d0\uc11c \ud1a0\ud070\uc744 \uc2a4\uc651\ud558\ub4e0 <em><a href=\"https:\/\/academy.tokonomo.com\/defi\/understanding-dex-liquidity-pools-what-they-are-and-how-they-work\/\" target=\"_blank\" rel=\"noreferrer noopener\">\uc720\ub3d9\uc131 \ud480<\/a><\/em>\uc5d0 \uc790\uc0b0\uc744 \uc608\uce58\ud558\ub4e0, AMM\ub294 \uc911\uac1c\uc790\uac00 \uc5c6\ub294 \uae08\uc735 \uc2dc\uc2a4\ud15c\uc73c\ub85c \uac00\ub294 \uad00\ubb38\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \ud070 \ud798\uc5d0\ub294 \ud070 \ucc45\uc784\uc774 \ub530\ub974\ub4ef\uc774\u2014\uc704\ud5d8\uc744 \uc774\ud574\ud558\uace0, <em>AMM \uac70\ub798 \uc804\ub7b5<\/em>\uc744 \ub2e4\ub4ec\uc73c\uba70, \ube60\ub974\uac8c \ubcc0\ud654\ud558\ub294 \uc774 \ubd84\uc57c\uc5d0 \ub300\ud574 \uafb8\uc900\ud788 \uc815\ubcf4\ub97c \uc5bb\uc73c\uc138\uc694. DeFi\uc5d0\uc11c\uc758 \uc720\ub3d9\uc131 \uacf5\uae09\uc5d0 \ub300\ud574 \ub354 \uae4a\uc774 \uc54c\uace0 \uc2f6\ub2e4\uba74 DeFi Academy\uc758 \ucd94\uac00 \uc790\ub8cc\ub97c \ucc38\uace0\ud558\uc2dc\uae30 \ubc14\ub78d\ub2c8\ub2e4.<\/p>\n\n\n\n<h2 id=\"%ec%9e%90%ec%a3%bc-%eb%ac%bb%eb%8a%94-%ec%a7%88%eb%ac%b8faqs\" class=\"wp-block-heading\">\uc790\uc8fc \ubb3b\ub294 \uc9c8\ubb38(FAQs)<\/h2>\n\n\n<div class=\"saswp-faq-block-section\"><ol style=\"list-style-type:none\"><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">Automated Market Maker(AMM)\uc774\ub780 \ubb34\uc5c7\uc778\uac00\uc694?<\/strong><p class=\"saswp-faq-answer-text\">AMM\uc740 \uac70\ub798 \uc0c1\ub300\ubc29(\ub9e4\uc218\uc790\ub098 \ub9e4\ub3c4\uc790)\uc774 \uc5c6\uc5b4\ub3c4 \uc554\ud638\ud654\ud3d0 \ud1a0\ud070\uc744 \uad50\ud658\ud560 \uc218 \uc788\uac8c \ud574\uc8fc\ub294 \ud0c8\uc911\uc559\ud654 \uac70\ub798 \uc2dc\uc2a4\ud15c\uc758 \ud55c \uc720\ud615\uc785\ub2c8\ub2e4. \uc804\ud1b5\uc801\uc778 \uc624\ub354\ubd81 \ub300\uc2e0 AMM\uc740 \uc720\ub3d9\uc131 \ud480\uacfc \uc54c\uace0\ub9ac\uc998\uc744 \uc0ac\uc6a9\ud574 \uac00\uaca9\uc744 \uc790\ub3d9\uc73c\ub85c \uacb0\uc815\ud569\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">AMM\uc740 Binance\ub098 Coinbase \uac19\uc740 \uc911\uc559\ud654 \uac70\ub798\uc18c\uc640 \uc5b4\ub5bb\uac8c \ub2e4\ub978\uac00\uc694?<\/strong><p class=\"saswp-faq-answer-text\">\uc911\uc559\ud654 \uac70\ub798\uc18c\ub294 \uc624\ub354\ubd81\uc744 \ud1b5\ud574 \ub9e4\uc218\uc790\uc640 \ub9e4\ub3c4\uc790\ub97c \ub9e4\uce6d\ud558\uc9c0\ub9cc, AMM\uc740 \uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8\uc640 \uc720\ub3d9\uc131 \ud480\uc5d0 \uc758\uc874\ud569\ub2c8\ub2e4. AMM\uc5d0\uc11c\ub294 \ub204\uad6c\ub098 KYC \uc5c6\uc774 \uc720\ub3d9\uc131\uc744 \uc81c\uacf5\ud558\uace0 \uc911\uc559 \uad8c\ud55c\uc758 \ud1b5\uc81c \uc5c6\uc774 \uac70\ub798\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">\uc720\ub3d9\uc131 \ud480\uc740 \ubb34\uc5c7\uc774\uba70 \uc65c \uc911\uc694\ud55c\uac00\uc694?<\/strong><p class=\"saswp-faq-answer-text\">\uc720\ub3d9\uc131 \ud480\uc740 \uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8\uc5d0 \uc7a0\uae34 \ud1a0\ud070\uc758 \uc9d1\ud569\uc785\ub2c8\ub2e4. \uc774\ub4e4\uc740 \uac70\ub798\uc5d0 \ud56d\uc0c1 \uc720\ub3d9\uc131\uc744 \ubcf4\uc7a5\ud558\uace0, \ub204\uad6c\ub098 \ud1a0\ud070\uc744 \ud480\uc5d0 \uc608\uce58\ud574 \uc218\uc218\ub8cc\ub97c \ubc8c \uc218 \uc788\uac8c \ud569\ub2c8\ub2e4. \uc720\ub3d9\uc131 \ud480\uc774 \uc5c6\uc5c8\ub2e4\uba74 AMM\uc740 \uc791\ub3d9\ud560 \uc218 \uc5c6\uc2b5\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">AMM\uc740 \ud1a0\ud070 \uac00\uaca9\uc744 \uc5b4\ub5bb\uac8c \uacb0\uc815\ud558\ub098\uc694?<\/strong><p class=\"saswp-faq-answer-text\">\ub300\ubd80\ubd84\uc758 AMM\uc740 <strong>\uc0c1\uc218\uacf1 \uacf5\uc2dd(x*y=k)<\/strong>\uc744 \uc0ac\uc6a9\ud569\ub2c8\ub2e4. \ud55c \ud1a0\ud070\uc774 \ub9e4\uc218\ub418\uba74 \uadf8 \ud1a0\ud070\uc758 \uac00\uaca9\uc740 \uc790\ub3d9\uc73c\ub85c \uc0c1\uc2b9\ud558\uace0 \ub2e4\ub978 \ud1a0\ud070\uc740 \uac10\uc18c\ud558\uc5ec \uacf1\uc774 \uc77c\uc815\ud558\uac8c \uc720\uc9c0\ub429\ub2c8\ub2e4. \uc774 \uc2dc\uc2a4\ud15c\uc740 \uc218\ub3d9 \uac1c\uc785 \uc5c6\uc774 \uc9c0\uc18d\uc801\uc778 \uac00\uaca9 \ubc1c\uacac\uc744 \uac00\ub2a5\ud558\uac8c \ud569\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">AMM \uc0ac\uc6a9\uc758 \uc8fc\uc694 \uc704\ud5d8\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/strong><p class=\"saswp-faq-answer-text\">\uac00\uc7a5 \ud070 \uc704\ud5d8\uc5d0\ub294 \ub2e4\uc74c\uc774 \ud3ec\ud568\ub429\ub2c8\ub2e4:<br><br>&#8211; <strong>\uc784\ud37c\uba38\ub10c\ud2b8 \ub85c\uc2a4(Impermanent Loss):<\/strong> \uc608\uce58\ud55c \ud1a0\ud070\uc758 \uac00\uce58\uac00 \uc2dc\uc7a5 \ubcc0\ub3d9\uc73c\ub85c \ud06c\uac8c \ubc8c\uc5b4\uc84c\uc744 \ub54c \ubc1c\uc0dd\ud558\ub294 \uc190\uc2e4.<br>&#8211; <strong>\uc2ac\ub9ac\ud53c\uc9c0(Slippage):<\/strong> \uc791\uc740 \ud480\uc5d0\uc11c \ud070 \uac70\ub798\uac00 \uc77c\uc5b4\ub0a0 \ub54c \uac00\uaca9\uc774 \ud06c\uac8c \ubcc0\ub3d9\ud558\ub294 \ud604\uc0c1.<br>&#8211; <strong>\uc2a4\ub9c8\ud2b8 \ucee8\ud2b8\ub799\ud2b8 \ubc84\uadf8 \ub610\ub294 \ud574\ud0b9:<\/strong> AMM \ucf54\ub4dc\uc5d0 \uacb0\ud568\uc774 \uc788\uc73c\uba74 \uc790\uae08\uc774 \uc704\ud5d8\uc5d0 \ucc98\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">AMM\uc73c\ub85c \uc5b4\ub5bb\uac8c \uc218\uc775\uc744 \ub0bc \uc218 \uc788\ub098\uc694?<\/strong><p class=\"saswp-faq-answer-text\">\uc720\ub3d9\uc131 \uc81c\uacf5\uc790(LP)\uac00 \ub418\uc5b4 \uc218\uc775\uc744 \uc5bb\uc744 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ud1a0\ud070\uc744 \ud480\uc5d0 \uc608\uce58\ud558\uba74 \uac70\ub798 \uc218\uc218\ub8cc\uc758 \uc77c\ubd80\ub97c \ubc1b\uc2b5\ub2c8\ub2e4. \uc77c\ubd80 \ud50c\ub7ab\ud3fc\uc740 yield farming\uc774\ub098 \uac70\ubc84\ub10c\uc2a4 \ud1a0\ud070\uc744 \ud1b5\ud574 \ucd94\uac00 \ubcf4\uc0c1\uc744 \uc81c\uacf5\ud558\uae30\ub3c4 \ud569\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">\ud604\uc7ac \uac00\uc7a5 \uc778\uae30 \uc788\ub294 AMM\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/strong><p class=\"saswp-faq-answer-text\">2025\ub144 \uae30\uc900 \uc8fc\uc694 AMM\uc5d0\ub294 <strong>Uniswap<\/strong>, <strong>SushiSwap<\/strong>, <strong>Curve<\/strong>, <strong>Balancer<\/strong>\uac00 \uc788\uc2b5\ub2c8\ub2e4. \uac01\uac01 \uace0\uc720\ud55c \ud2b9\uc9d5\uc774 \uc788\uc73c\uba70\u2014Uniswap\uc740 \uc77c\ubc18 \ud1a0\ud070 \uc2a4\uc651\uc5d0, Curve\ub294 \uc2a4\ud14c\uc774\ube14\ucf54\uc778\uc5d0, Balancer\ub294 \ub2e4\uc911 \ud1a0\ud070 \ud480\uc5d0 \uc801\ud569\ud569\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">\uc720\ub3d9\uc131 \uc81c\uacf5\uc73c\ub85c \uc190\uc2e4\uc744 \ubcfc \uc218 \uc788\ub098\uc694?<\/strong><p class=\"saswp-faq-answer-text\">\uc608. \uc218\uc218\ub8cc\ub97c \ubc8c\ub354\ub77c\ub3c4, <strong>\uc784\ud37c\uba38\ub10c\ud2b8 \ub85c\uc2a4<\/strong>\ub85c \uc778\ud574 \uc608\uce58\ud55c \ud1a0\ud070\uc758 \uac00\uce58\uac00 \ud06c\uac8c \ubcc0\ud560 \uacbd\uc6b0 \uc804\uccb4 \uc218\uc775\uc774 \uc904\uc5b4\ub4e4 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc790\uc0b0\uc744 \uc2a4\ud14c\uc774\ud0b9\ud558\uae30 \uc804\uc5d0 \uc7a0\uc7ac\uc801 \ub9ac\uc2a4\ud06c\ub97c \uacc4\uc0b0\ud558\ub294 \uac83\uc774 \uc911\uc694\ud569\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">\uc9d1\uc911 \uc720\ub3d9\uc131(Concentrated liquidity)\uc774\ub780 \ubb34\uc5c7\uc774\uba70 \uc65c \uc911\uc694\ud55c\uac00\uc694?<\/strong><p class=\"saswp-faq-answer-text\">Uniswap V3\uc5d0\uc11c \ub3c4\uc785\ub41c \uc9d1\uc911 \uc720\ub3d9\uc131\uc740 LP\uac00 \uc790\uae08\uc744 \ud2b9\uc815 \uac00\uaca9 \ubc94\uc704\uc5d0\ub9cc \ubc30\uce58\ud558\ub3c4\ub85d \ud5c8\uc6a9\ud569\ub2c8\ub2e4. \uc774\ub294 \ud480\uc744 \ub354 \uc790\ubcf8 \ud6a8\uc728\uc801\uc73c\ub85c \ub9cc\ub4e4\uace0 \ubd88\ud544\uc694\ud55c \ub178\ucd9c\uc744 \uc904\uc774\uba74\uc11c \uc218\uc775\uc744 \ub192\uc77c \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">AMM\uc740 \uc548\uc804\ud55c\uac00\uc694?<\/strong><p class=\"saswp-faq-answer-text\">\ud3c9\ud310\uc774 \uc88b\uc740 AMM\uc740 \ub300\uccb4\ub85c \uc548\uc804\ud558\uc9c0\ub9cc, DeFi\uc5d0\ub294 \ud56d\uc0c1 \uc704\ud5d8\uc774 \uc788\uc2b5\ub2c8\ub2e4. \uc798 \uc54c\ub824\uc9c4 \ud50c\ub7ab\ud3fc\uc744 \uc774\uc6a9\ud558\uace0, \uac10\uc0ac(audit) \uc774\ub825\uc744 \ud655\uc778\ud558\uba70, \uac10\ub2f9\ud560 \uc218 \uc788\ub294 \ubc94\uc704 \uc774\uc0c1\uc73c\ub85c \ud22c\uc790\ud558\uc9c0 \ub9c8\uc138\uc694. \ubcf4\uc548\uc774 \uc790\uc0b0\uc744 \ubcf4\ud638\ud558\ub294 \ud575\uc2ec\uc785\ub2c8\ub2e4.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">\ucd08\ubcf4\uc790\uac00 AMM\uc744 \uc2dc\uc791\ud558\ub824\uba74 \uc5b4\ub5bb\uac8c \ud558\ub098\uc694?<\/strong><p class=\"saswp-faq-answer-text\">1. <strong>MetaMask<\/strong> \uac19\uc740 \ube44\uc218\ud0c1 \uc9c0\uac11\uc744 \ub9cc\ub4dc\uc138\uc694.<br>2. \uc790\uae08(ETH \ub610\ub294 \ub2e4\ub978 \uae30\ubcf8 \ud1a0\ud070)\uc744 \ucd94\uac00\ud558\uc138\uc694.<br>3. Uniswap \ub610\ub294 Curve \uac19\uc740 \uc2e0\ub8b0\ud560 \uc218 \uc788\ub294 AMM\uc744 \uc120\ud0dd\ud558\uc138\uc694.<br>4. \uc18c\uc561 \uac70\ub798\ub098 \uc720\ub3d9\uc131 \uc81c\uacf5\uc73c\ub85c \uc548\uc804\ud558\uac8c \uacbd\ud5d8\uc744 \uc313\uc73c\uc138\uc694.<\/p><li style=\"list-style-type: none\"><strong class=\"saswp-faq-question-title\">AMM\uc758 \ubbf8\ub798\ub294 \uc5b4\ub5bb\uac8c \ub420\uae4c\uc694?<\/strong><p class=\"saswp-faq-answer-text\">\ud06c\ub85c\uc2a4\uccb4\uc778 AMM, \uace0\uae09 \uc720\ub3d9\uc131 \uc804\ub7b5, \uc218\uc218\ub8cc \uc808\uac10\uc744 \uc704\ud55c \ub808\uc774\uc5b4-2 \ud1b5\ud569 \ub4f1 \ud601\uc2e0\uc774 \ub098\ud0c0\ub098\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ubbf8\ub798\ub294 AMM\uc744 \ub354 \ud6a8\uc728\uc801\uc774\uace0 \ud655\uc7a5 \uac00\ub2a5\ud558\uba70 \uc804 \uc138\uacc4\uc801\uc73c\ub85c \uc811\uadfc \uac00\ub2a5\ud558\uac8c \ub9cc\ub4dc\ub294 \uac83\uc785\ub2c8\ub2e4.<\/p><\/ul><\/div>","protected":false},"excerpt":{"rendered":"\uc18c\uac1c \ud0c8\uc911\uc559\ud654 \uae08\uc735, \uc989 DeFi\ub294 \uc911\uac1c\uc790 \uc5c6\uc774 \uac70\ub798, \ub300\ucd9c \ubc0f \ud22c\uc790\ub97c \ud560 \uc218 \uc788\ub294 \uc0c8\ub85c\uc6b4 \ubc29\uc2dd\uc744 \uc81c\uc2dc\ud558\uba70 \uc554\ud638\ud654\ud3d0&hellip;\n","protected":false},"author":2,"featured_media":9203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_focuskw":"\uc790\ub3d9\ud654\ub41c \uc2dc\uc7a5 \uc870\uc131\uc790(AMM)","_yoast_wpseo_title":"\uc790\ub3d9\ud654\ub41c \ub9c8\ucf13 \uba54\uc774\ucee4(AMM)\ub780 \ubb34\uc5c7\uc778\uac00? 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