Research corpus MarketsBLC-STUDY-0037

StableSwap — efficient mechanism for Stablecoin liquidity

Egorov's 2019 invariant for pools of assets that should trade near parity. The curve is flat around the peg, where most stablecoin trades happen, and bends toward a constant-product tail when the pool is pushed off parity.

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Record

Authors: Michael Egorov
Date: 2019
Publisher: Michael Egorov
Version: Source cited by the 2019 study. The study is the reading. This page does not add a second essay.
Document ID: BLC-STUDY-0037
DOI: None recorded
Last reviewed: 1 October 2026
Licence: No licence recorded. Rights status under review.

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Official source — StableSwap paper
Blockchain Lab study, the canonical readingOriginal commentary. Not a transcription of the paper.

Metadata and commentary only. The reading is the study page.

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What changed

The study separates the text from later network behaviour. This bibliographic page does not repeat that essay.

Relationships

Canonical readingCurve study
Related paperUniswap
Related paperBalancer
Related paperMaker
Related paperTerra

Cite this record

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Author–date

Egorov, M. (2019). StableSwap — efficient mechanism for Stablecoin liquidity. Michael Egorov. https://curve.fi/files/stableswap-paper.pdf

BibTeX

@techreport{curvestableswap2019,
  title = {StableSwap — efficient mechanism for Stablecoin liquidity},
  author = {Michael Egorov},
  year = {2019},
  institution = {Michael Egorov},
  url = {https://curve.fi/files/stableswap-paper.pdf},
  note = {Rights status: Official external source only. Blockchain Lab record: https://blockchainlab.com/research/corpus/papers/curve-stableswap}
}

RIS

TY  - RPRT
TI  - StableSwap — efficient mechanism for Stablecoin liquidity
AU  - Michael Egorov
PY  - 2019
PB  - Michael Egorov
UR  - https://curve.fi/files/stableswap-paper.pdf
N1  - Rights status: Official external source only
ER  -

CSL-JSON

[
  {
    "type": "report",
    "id": "BLC-STUDY-0037",
    "title": "StableSwap — efficient mechanism for Stablecoin liquidity",
    "author": [
      {
        "literal": "Michael Egorov"
      }
    ],
    "issued": {
      "date-parts": [
        [
          2019
        ]
      ]
    },
    "publisher": "Michael Egorov",
    "URL": "https://curve.fi/files/stableswap-paper.pdf",
    "note": "Rights status: Official external source only. Not a licence to republish the paper."
  }
]

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Rights record

Source status: Official source
Use status: Metadata and commentary only. The reading is the study page.
Rights: Official external source only
Training and retrieval: Not permitted from this site. There is no rights-cleared full text to retrieve or to train on.

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