# Introduction

Time-weighted automated market makers (TWAMM) are a special class of AMMs that execute orders over multiple blocks, a concept introduced by researchers at Paradigm ([Dave White](https://www.paradigm.xyz/team/davewhite), [Dan Robinson](https://www.paradigm.xyz/team/danrobinson)) and the inventor of Uniswap ([Hayden Adams](https://twitter.com/haydenzadams)).

> ...help traders on Ethereum efficiently execute large orders. We call it the time-weighted average market maker, or TWAMM (pronounced "tee-wham"). It works by breaking long-term orders into infinitely many infinitely small pieces and executing them against an embedded constant-product AMM smoothly over time.

{% embed url="<https://www.paradigm.xyz/2021/07/twamm>" %}

{% embed url="<https://twitter.com/WilsonCusack/status/1536748992033222656>" %}

### Prototype

Before developing TWAMMs on-chain, we built an end-to-end simulator with historic market data and arbitrage to showcase how a trade executes on TWAMMs versus a regular AMM like Uniswap V2.

{% embed url="<https://www.youtube.com/watch?v=RkgYAms_Q10>" %}

You can read more details about the simulation in our blog here:

{% embed url="<https://mirror.xyz/0x70626a.eth/SzxME01JrrVRmu_H9q_07kZCBLzzHyxV_fmp1WmZvWo>" %}

### Upgrades

Beyond what was described in the paper, we've upgraded our version of TWAMMs to leverage PFoF, MEV re-investment, virtual order oracles, dynamic fees, granular controls, extreme gas optimizations, and a slew of other features that makes our implementation vastly superior to a standard Uniswap V2 TWAMM.

In the following sections, we delve deeper into the features, incentives, competition, and risks associated with our implementation.


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