> For the complete documentation index, see [llms.txt](https://cron-finance.gitbook.io/twamm/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://cron-finance.gitbook.io/twamm/welcome-to-cron-finance.md).

# Welcome to Cron Finance

### *Cron* 

*`Etymology. From chrono-, from Ancient Greek`* [*`χρόνος`*](https://en.wiktionary.org/wiki/%CF%87%CF%81%CF%8C%CE%BD%CE%BF%CF%82#Ancient_Greek) *`(khrónos, “time”).`*

*`Noun. (computing) A scheduler or timer that automatically starts a job, program, task.`*

{% hint style="info" %}
At Cron Finance, we're building advanced fully on-chain trade execution algorithms.
{% endhint %}

On-chain trade execution algorithms in Ethereum are limited because of a variety of factors such as contract space, gas costs, and algorithmic complexity. The predominant trade execution algorithm today is a concept called AMM (Automated Market Maker), ideated [in 2017](https://vitalik.ca/general/2017/06/22/marketmakers.html) by Vitalik Buterin and popularized by Uniswap.

AMMs generally follow a simple mathematical formula `(X*Y=K)` and run completely on-chain with zero dependencies on external services. Traders always have a counterparty, anybody can provide liquidity, other protocols can seamlessly compose swap features, and most importantly everything executes atomically in a single Ethereum block.

However, large swaps cannot be executed on-chain because of slippage and MEV attacks that diminish returns. Advancements in trade routing and concentrated liquidity have only partially addressed this issue. Aggregators such as *CowSwap* have built a complex system of on-chain and off-chain services to further improve trade execution but end up breaking protocol composability.

In the first version of our protocol, we have implemented a fully on-chain *time-weighted average market maker* (TWAMM) to smoothly execute large swaps with minimal slippage, capital requirements, and MEV attack resistance. In future versions, we plan on building other novel execution algorithms*,* and layer on features like privacy and limit orders.


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